Question 1

The strategic business unit (SBU) concept was developed as a means of better explaining the diversity in profitability within an organization.

Accepted Answer

A) True 
 B)False

Question 2

Contingency plans should be developed after a company determines that actual performance lags behind goals.

Accepted Answer

A) True 
 B)False

Question 3

Compared to the product/market opportunity matrix and the Boston Consulting Group matrix, the General Electric business screen

Accepted Answer

A)   is more qualitative.
B)   is more quantitative.
C)   uses more variables.
D)   is more reliable.

Question 4

The Boston Consulting Group matrix, like the General Electric business screen,

Accepted Answer

A)   assumes that high market growth increases the need for capital.
B)   is easy to implement.
C)   finds market share to be an important determinant of profitability.
D)   is empirically based.

Question 5

A firm classified a strategic business unit (SBU)  as being in the medium industry attractiveness and high company business strength sector. Which of the following is the most appropriate strategy for the SBU on the basis of the General Electric business screen?

Accepted Answer

A)   Invest/grow (Green) 
B)   Selectivity/earnings (Yellow) 
C)   Harvest (Blinking red) 
D)   Harvest/divest (Red)

Question 6

An example of a pricing-oriented tactic is

Accepted Answer

A)   reducing unit costs through obtaining and maintaining a high market share.
B)   basing all prices on the basis of production and marketing costs.
C)   matching a competitor's price to make a sale to a price-conscious customer.
D)   charging higher than market prices for all goods on the basis of a significant differential advantage.

Question 7

Budgets, timetables, sales and profit statistics, cost analyses, and image studies are some of the measures that can be used to

Accepted Answer

A)   control order-processing costs.
B)   receive feedback.
C)   implement tactics.
D)   monitor results.

Question 8

Situation analysis is also called SWOT analysis.

Accepted Answer

A) True 
 B)False

Question 9

Develop a situation analysis (SWOT analysis) for your college bookstore.

Accepted Answer

Strengths:
- Convenient location on camp...

Question 10

A major advantage of strategic planning models is the ability to analyze all of a firm's SBUs at the same time.

Accepted Answer

A) True 
 B)False

Question 11

In comparing short- and long-run plans, long-run plans are generally more

Accepted Answer

A)   broad-based.
B)   detailed.
C)   bottom-up in orientation.
D)   tactical.

Question 12

The Boston Consulting Group matrix assumes that a high market share results in

Accepted Answer

A)   the law of diminishing returns.
B)   significant production economies, as well as higher bargaining power.
C)   governmental intervention.
D)   low bargaining power.

Question 13

The Boston Consulting Group matrix assumes that a high market growth

Accepted Answer

A)   requires a large investment.
B)   results in significant cost economies due to the learning curve.
C)   signals the increase of competition.
D)   results in significant cost economies due to improved bargaining power.

Question 14

The existence of a centralized planning staff which directs and controls planning activities means a firm is using what type of marketing plan?

Accepted Answer

A)   A bottom-up marketing plan
B)   A top-down marketing plan
C)   A separate marketing plan for each major product
D)   An integrated marketing plan for all products

Question 15

Describe the concept of organizational mission. Develop an appropriate mission (in terms of customer groups served, goods and services offered, functions performed, and technologies utilized) for the following organizations:
a. McDonald's. c. Your college or university.
b. General Motors. d. A family-oriented restaurant.

Accepted Answer

The concept of organizational mission re...

Question 16

An important part of the strategic planning process is the implementation of plans.

Accepted Answer

A) True 
 B)False

Question 17

Which of these statements about strategic planning is correct?

Accepted Answer

A)   Strategic planning is a lateral, not a hierarchal, process.
B)   Resource allocation is relatively unimportant.
C)   Each division (department)  must have clear objectives that are integrated with overall company objectives.
D)   Each division (department)  is expected to act autonomously to reduce the interaction with other divisions.

Question 18

Image-related marketing objectives are more likely than financial objectives to be stated in quantitative terms.

Accepted Answer

A) True 
 B)False

Question 19

Models such as the Boston Consulting Group matrix are sometimes difficult to implement due to difficulty in obtaining accurate measures such as relative market share.

Accepted Answer

A) True 
 B)False

Question 20

The Boston Consulting Group matrix is most similar to

Accepted Answer

A)   the General Electric business screen.
B)   the product/market opportunity matrix.
C)   the Porter generic strategy model.
D)   situation analysis.

Exam 3: Developing and Enacting Strategic Marketing Plans

The Boston Consulting Group matrix is most similar to

Correct Answer
verified

The Boston Consulting Group matrix, like the General Electric business screen,

Correct Answer
verified

A major advantage of strategic planning models is the ability to analyze all of a firm's SBUs at the same time.

Correct Answer
verified

Compared to the product/market opportunity matrix and the Boston Consulting Group matrix, the General Electric business screen

Correct Answer
verified

The Boston Consulting Group matrix assumes that a high market share results in

Correct Answer
verified

The strategic business unit (SBU) concept was developed as a means of better explaining the diversity in profitability within an organization.

Correct Answer
verified

An example of a pricing-oriented tactic is

Correct Answer
verified

Situation analysis is also called SWOT analysis.

Correct Answer
verified

In comparing short- and long-run plans, long-run plans are generally more

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
The concept of organizational mission re...
View Answer

The existence of a centralized planning staff which directs and controls planning activities means a firm is using what type of marketing plan?

Correct Answer
verified

An important part of the strategic planning process is the implementation of plans.

Correct Answer
verified

The Boston Consulting Group matrix assumes that a high market growth

Correct Answer
verified

Budgets, timetables, sales and profit statistics, cost analyses, and image studies are some of the measures that can be used to

Correct Answer
verified

Develop a situation analysis (SWOT analysis) for your college bookstore.

Correct Answer
Answered by ExamLex AI
Strengths:
- Convenient location on camp...
View Answer

Which of these statements about strategic planning is correct?

Correct Answer
verified

Image-related marketing objectives are more likely than financial objectives to be stated in quantitative terms.

Correct Answer
verified

Contingency plans should be developed after a company determines that actual performance lags behind goals.

Correct Answer
verified

A firm classified a strategic business unit (SBU) as being in the medium industry attractiveness and high company business strength sector. Which of the following is the most appropriate strategy for the SBU on the basis of the General Electric business screen?

Correct Answer
verified

Models such as the Boston Consulting Group matrix are sometimes difficult to implement due to difficulty in obtaining accurate measures such as relative market share.

Correct Answer
verified

Exam 3: Developing and Enacting Strategic Marketing Plans

The Boston Consulting Group matrix is most similar to

Correct AnswerverifiedShow Answer

The Boston Consulting Group matrix, like the General Electric business screen,

Correct AnswerverifiedShow Answer

A major advantage of strategic planning models is the ability to analyze all of a firm's SBUs at the same time.

Correct AnswerverifiedShow Answer

Compared to the product/market opportunity matrix and the Boston Consulting Group matrix, the General Electric business screen

Correct AnswerverifiedShow Answer

The Boston Consulting Group matrix assumes that a high market share results in

Correct AnswerverifiedShow Answer

The strategic business unit (SBU) concept was developed as a means of better explaining the diversity in profitability within an organization.

Correct AnswerverifiedShow Answer

An example of a pricing-oriented tactic is

Correct AnswerverifiedShow Answer

Situation analysis is also called SWOT analysis.

Correct AnswerverifiedShow Answer

In comparing short- and long-run plans, long-run plans are generally more

Correct AnswerverifiedShow Answer

Correct AnswerAnswered by ExamLex AIThe concept of organizational mission re...View AnswerShow Answer

The existence of a centralized planning staff which directs and controls planning activities means a firm is using what type of marketing plan?

Correct AnswerverifiedShow Answer

An important part of the strategic planning process is the implementation of plans.

Correct AnswerverifiedShow Answer

The Boston Consulting Group matrix assumes that a high market growth

Correct AnswerverifiedShow Answer

Budgets, timetables, sales and profit statistics, cost analyses, and image studies are some of the measures that can be used to

Correct AnswerverifiedShow Answer

Develop a situation analysis (SWOT analysis) for your college bookstore.

Correct AnswerAnswered by ExamLex AIStrengths:- Convenient location on camp...View AnswerShow Answer

Which of these statements about strategic planning is correct?

Correct AnswerverifiedShow Answer

Image-related marketing objectives are more likely than financial objectives to be stated in quantitative terms.

Correct AnswerverifiedShow Answer

Contingency plans should be developed after a company determines that actual performance lags behind goals.

Correct AnswerverifiedShow Answer

A firm classified a strategic business unit (SBU) as being in the medium industry attractiveness and high company business strength sector. Which of the following is the most appropriate strategy for the SBU on the basis of the General Electric business screen?

Correct AnswerverifiedShow Answer

Models such as the Boston Consulting Group matrix are sometimes difficult to implement due to difficulty in obtaining accurate measures such as relative market share.

Correct AnswerverifiedShow Answer

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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Answered by ExamLex AI
The concept of organizational mission re...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Strengths:
- Convenient location on camp...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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