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Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

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Question 31

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High Gliding Air Academy is developing its marketing mix for the coming year. Its managers know that they must first select ____ which may be the most important decision they make in the planning process.

A) the promotional strategy
B) a distribution method
C) the pricing strategy
D) a target market
E) the desired profit margin

F) C) and E)
G) C) and D)

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Question 32

Multiple Choice

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Which of the following is true about the development of a marketing plan?

A) It is the largest strategic business plan in the organization.
B) It is the final step in strategic planning.
C) It is only useful for the company as a whole
D) It should be an adaptive response to day-to-day issues and unanticipated situations.
E) It should be unique to the organization for which it was created.

F) B) and D)
G) A) and E)

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Question 33

Multiple Choice

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Which of the following statements about the marketing mix is incorrect?

In the strategic planning process, marketers conduct their SWOT analyses before developing corporate and business-unit strategies.

Kraft purchased the Duracell Battery Company and now operates this division as a separate profit center within the firm. In this example, Duracell is a(n) ____ unit of Kraft.

According to the Boston Consulting Group, marketers may classify their products as all of the following except

A marketing objective should be expressed in clear, simple terms; be _____________; specify a time frame for completion; and ensure the marketing objective is _____________ with both business-unit and corporate strategies.

A group that has the willingness, ability, and authority to buy a product is a

A SWOT analysis focuses on an organization's:

A firm's organizational mission should be derived from its goals.

An organization's goals focus on the end results the organization seeks.

The Texas Pitt Barbecue Corporation has conducted a SWOT analysis of its competition and sees a marketing opportunity for its new Texas Pit Barbecue restaurant. It has developed its marketing plan to include the type of products it will sell, the location for the restaurant, and the pricing it will use. Their plan includes a marketing objective to make a profit of 5% the first year of operation. So far, the owners of the restaurant have eliminated a key piece of the marketing plan, which is ____.

You asked your stockbroker to consider buying some shares of Facebook, Inc. for your investment account. But first you want to review the summary points in the SWOT analysis the stockbroker's firm did on the company. The following summary points were listed in the SWOT analysis: Facebook has a reputation as a market leader and it is quickly establishing a formidable brand loyalty among its users. Because of its position in the industry, it risks incurring high costs associated with creating and marketing new products that are designed to perpetuate its industry leadership. These summary points suggest

Because of its highly efficient and low-cost distribution system, Walmart has a ____ advantage over Kmart.

Emma is responsible for developing and implementing the marketing plan for a new type of walking shoe targeted toward older women. Her responsibility includes making sure that the production and deliveries to the retail stores are coordinated for this new product. In order for the marketing implementation to be successful, Emma should be sure the needs of ____ customers are met.

A marketing objective need not be consistent with the firm's overall objectives.

Which of the following is the most specific and detailed type of business strategy?

Safeway Foods Corporation is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Safeway is creating a

Seamus O'Leary runs the marketing department of a large electronics firm. This firm operates in an extremely competitive business environment. Seamus wants to ensure that he is involved in all the daily decisions and that there is a clear chain of communication between himself and his marketing employees. He believes that his extensive marketing experience makes him the best person for making all the major marketing decisions. Seamus believes all employees should act together as a cohesive unit and know their roles. Under Seamus O'Leary, the marketing department most likely has a _______________ structure.

Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are