Question 1

An example of a __________ might be Nintendo's Wii video game system.

Accepted Answer

A)  problem child
B)  star
C)  cash cow
D)  dog
E)  question mark

Question 2

The first step in the marketing control process is to:

Accepted Answer

A)  take corrective action.
B)  reduce the difference between actual and desired standards.
C)  evaluate actual performance.
D)  compare actual performance and standards.
E)  establish performance standards.

Question 3

The percentage of a market that actually buys a specific product from a specific company is referred to as that product's:

Accepted Answer

A)  strategic segment.
B)  target market.
C)  market share.
D)  market cut.
E)  market position.

Question 4

Marketing strategies should be established before marketing objectives are decided.

Accepted Answer

A) True 
 B)False

Question 5

When properly implemented, a good marketing strategy enables a company to achieve its business-unit and corporate objectives.

Accepted Answer

A) True 
 B)False

Question 6

Marketing implementation is the process of executing marketing strategies.

Accepted Answer

A) True 
 B)False

Question 7

Successful business organisations should take actions to convert internal weaknesses into __________ and external threats into __________.

Accepted Answer

A)  opportunities; core competencies
B)  core competencies; strengths
C)  opportunities; strengths
D)  strengths; core competencies
E)  strengths; opportunities

Question 8

A firm's organisational goals should be derived from its opportunities.

Accepted Answer

A) True 
 B)False

Question 9

The managerial actions taken to make all members of an organisation understand and accept their respective roles in implementing the marketing strategy are referred to as:

Accepted Answer

A)  internal management.
B)  extended marketing.
C)  intended marketing.
D)  external marketing.
E)  internal marketing.

Question 10

A firm's unique symbols, personalities and philosophies comprise its:

Accepted Answer

A)  corporate persona.
B)  corporate identity.
C)  corporate character.
D)  ethics.

Question 11

The Boston Consulting Group's model serves as a diagnostic tool to spotlight strategic business units that have an opportunity to grow; it is not a guide for making strategy prescriptions.

Accepted Answer

A) True 
 B)False

Question 12

A disadvantage of organising a firm's marketing unit by products is that:

Accepted Answer

A)  product managers lack adequate control over marketing activities.
B)  large firms might experience coordination problems.
C)  it can be expensive.
D)  specialised marketing assistance is less readily available.
E)  marketing flexibility is limited.

Question 13

A marketing unit can be organised according to functions, products, regions and:

Accepted Answer

A)  sales.
B)  target markets.
C)  competitive units.
D)  types of customers.
E)  product features.

Question 14

The fact that university enrolments have been increasing at a fast rate over the past few years is an example of a(n)  __________ that creates a __________ for Travel Bug.

Accepted Answer

A)  environmental factor; market opportunity
B)  environmental factor; strategic door
C)  company strength; market opportunity
D)  company strength; competitive advantage
E)  marketing opportunity; competitive advantage

Question 15

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

Accepted Answer

A) True 
 B)False

Question 16

The marketing plan is:

Accepted Answer

A)  a plan of all aspects of an organisation's business strategy.
B)  written differently for each SBU.
C)  a written document detailing activities to be performed to implement and control marketing actions.
D)  designed to specify not only marketing, but all other functional areas of business activities as well.
E)  updated only periodically.

Question 17

__________ focuses on using information about customers to create marketing strategies that develop and sustain desirable customer relationships.

Accepted Answer

A)  Customer relationship management
B)  Electronic data interchange
C)  Business-to-consumer marketing
D)  The use of strategic partnerships
E)  The marketing concept

Question 18

Marketing strategies outline how a company will achieve its objectives and highlight:

Accepted Answer

A)  planned strategy and realised strategy.
B)  target markets and the marketing mix.
C)  SWOT analysis.
D)  company objectives and the mission statement.

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

When the right combination of circumstances occurs at the right time to allow an organisation to take action towards a target market, the firm is faced with a:

Accepted Answer

A)  market objective.
B)  market requirement.
C)  strategic market plan.
D)  market opportunity.
E)  corporate objective.

Exam 3: Planning, Implementing and Evaluating Marketing Strategy

The percentage of a market that actually buys a specific product from a specific company is referred to as that product's:

Correct AnswerverifiedShow Answer

The managerial actions taken to make all members of an organisation understand and accept their respective roles in implementing the marketing strategy are referred to as:

Correct AnswerverifiedShow Answer

Marketing strategies outline how a company will achieve its objectives and highlight:

Correct AnswerverifiedShow Answer

A disadvantage of organising a firm's marketing unit by products is that:

Correct AnswerverifiedShow Answer

Marketing implementation is the process of executing marketing strategies.

Correct AnswerverifiedShow Answer

A marketing unit can be organised according to functions, products, regions and:

Correct AnswerverifiedShow Answer

__________ focuses on using information about customers to create marketing strategies that develop and sustain desirable customer relationships.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When properly implemented, a good marketing strategy enables a company to achieve its business-unit and corporate objectives.

Correct AnswerverifiedShow Answer

The first step in the marketing control process is to:

Correct AnswerverifiedShow Answer

Marketing strategies should be established before marketing objectives are decided.

Correct AnswerverifiedShow Answer

When the right combination of circumstances occurs at the right time to allow an organisation to take action towards a target market, the firm is faced with a:

Correct AnswerverifiedShow Answer

An example of a __________ might be Nintendo's Wii video game system.

Correct AnswerverifiedShow Answer

A firm's organisational goals should be derived from its opportunities.

Correct AnswerverifiedShow Answer

The fact that university enrolments have been increasing at a fast rate over the past few years is an example of a(n) __________ that creates a __________ for Travel Bug.

Correct AnswerverifiedShow Answer

The Boston Consulting Group's model serves as a diagnostic tool to spotlight strategic business units that have an opportunity to grow; it is not a guide for making strategy prescriptions.

Correct AnswerverifiedShow Answer

Successful business organisations should take actions to convert internal weaknesses into __________ and external threats into __________.

Correct AnswerverifiedShow Answer

A firm's unique symbols, personalities and philosophies comprise its:

Correct AnswerverifiedShow Answer

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

Correct AnswerverifiedShow Answer

The marketing plan is:

Correct AnswerverifiedShow Answer

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The fact that university enrolments have been increasing at a fast rate over the past few years is an example of a(n) that creates a for Travel Bug.

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Successful business organisations should take actions to convert internal weaknesses into and external threats into .

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