Question 1

Although the customer should be the target of all marketing efforts,customers are not part of a marketing mix.

Accepted Answer

A) True 
 B)False

Question 2

When it comes to choosing among different types of opportunities,most firms tend to be production-oriented and usually think first of diversification.

Accepted Answer

A) True 
 B)False

Question 3

The marketing strategy planning process starts with a narrow look at a market and becomes broader the closer the firm comes to developing a marketing mix.

Accepted Answer

A) True 
 B)False

Question 4

Any series of firms (or individuals)from producer to final user or consumer is a channel of distribution.

Accepted Answer

A) True 
 B)False

Question 5

In contrast to mass marketing,target marketing

Accepted Answer

A)  assumes all customers have the same needs.
B)  assumes everyone is a potential customer.
C)  focuses only on small market segments.
D)  tailors a marketing mix to fit some specific group of customers.
E)  makes it more likely that a firm will face direct competition.

Question 6

Marketing strategy planning is the process of deciding how best to sell the products the firm produces.

Accepted Answer

A) True 
 B)False

Question 7

Breakthrough opportunities

Accepted Answer

A)  are so rare that they should be pursued even when they do not match the firm's resources and objectives.
B)  seldom occur within or close to a firm's present markets.
C)  are especially important in our increasingly competitive markets.
D)  are those that a firm's competitors can copy quickly.
E)  are best achieved by trying to hold onto a firm's current market share.

Question 8

A channel of distribution must include an intermediary.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following best illustrates a breakthrough opportunity?

Accepted Answer

A)  A recording company's new CD gets unexpected national publicity on MTV,and almost every teenager wants a copy for Christmas.
B)  A drug company develops a patented pill that people can take once a year and safely avoid catching a cold.
C)  A bank puts its credit card machines in convenient drive-up locations-so they will be more convenient for customers.
D)  A nurse realizes that the growing number of older people will increase the demand for nursing home services,so she quits her job and opens a quality nursing center for the elderly.
E)  A wireless phone company introduces a new service that offers more free weekend minutes than any other service in its market area.

Question 10

________ means that a firm has a marketing mix that the target market sees as better than a competitor's mix.

Accepted Answer

A)  Competitive advantage
B)  Strategic policy
C)  Customer equity
D)  Comparative opportunity
E)  Market development

Question 11

Which of the following firms is exploring a market development opportunity?

Accepted Answer

A)  The Coleman camping gear company boosts sales of popular lanterns by setting up promotional displays at well-attended outdoor events.
B)  Campbell's targets health-conscious consumers with a new line of low-sodium soups.
C)  McDonald's opens two upscale hotels in Switzerland to serve families and business travelers.
D)  The E-Z-Go golf cart company begins selling golf carts for use in malls,factories,and airports.
E)  Mammoth Mountain Ski Resort offers horseback riding and a mountain bike park for summer visitors.

Question 12

Personal selling,mass selling,and sales promotion are all included in the Promotion area of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 13

When a firm tries to increase sales by selling its present products in new markets,it is called

Accepted Answer

A)  product development.
B)  diversification.
C)  market penetration.
D)  mass marketing.
E)  market development.

Question 14

What term refers to the controllable variables the company puts together to satisfy a target group?

Accepted Answer

A)  target marketing
B)  marketing strategy
C)  direct marketing
D)  mass marketing
E)  marketing mix

Question 15

A detailed plan for handling transportation and storage of a new product that is now being distributed to wholesalers nationwide is an aspect of which part of the "Four Ps"?

Accepted Answer

A)  Place
B)  Product
C)  Promotion
D)  Price

Question 16

In contrast to mass marketing,target marketing

Accepted Answer

A)  ignores the need for the firm to obtain a competitive advantage.
B)  ignores markets that are large and spread out.
C)  is limited to small market segments.
D)  assumes that all customers are basically the same.
E)  None of these answers is correct.

Question 17

"A firm has adequate resources." With which element of the S.W.O.T analysis tool does this statement fit?

Accepted Answer

A)  strengths
B)  weaknesses
C)  opportunities
D)  threats
E)  limitation

Question 18

Big Fizz Co.,a manufacturer of cola-flavored drinks,wants to add packaged fruit juices to its existing product line.Big Fizz needs to make some decisions regarding packaging and branding of the fruit juices.These decisions would fall under which variable of the marketing mix?

Accepted Answer

A)  Product
B)  Place
C)  Promotion
D)  Price
E)  Personal Selling

Question 19

Industrial Plastics Corporation has decided to manufacture and sell electric motors for fishing boats.The firm appears to be pursuing a ________ opportunity.

Accepted Answer

A)  combiner
B)  product development
C)  market development
D)  market penetration
E)  diversification

Question 20

Which of the following refers to a written statement of a marketing strategy and the time-related details for carrying out the strategy?

Accepted Answer

A)  marketing mix
B)  marketing program
C)  marketing plan
D)  marketing design
E)  marketing direction

Exam 2: Marketing Strategy Planning

Industrial Plastics Corporation has decided to manufacture and sell electric motors for fishing boats.The firm appears to be pursuing a ________ opportunity.

Correct AnswerverifiedShow Answer

Big Fizz Co.,a manufacturer of cola-flavored drinks,wants to add packaged fruit juices to its existing product line.Big Fizz needs to make some decisions regarding packaging and branding of the fruit juices.These decisions would fall under which variable of the marketing mix?

Correct AnswerverifiedShow Answer

________ means that a firm has a marketing mix that the target market sees as better than a competitor's mix.

Correct AnswerverifiedShow Answer

What term refers to the controllable variables the company puts together to satisfy a target group?

Correct AnswerverifiedShow Answer

Which of the following best illustrates a breakthrough opportunity?

Correct AnswerverifiedShow Answer

"A firm has adequate resources." With which element of the S.W.O.T analysis tool does this statement fit?

Correct AnswerverifiedShow Answer

In contrast to mass marketing,target marketing

Correct AnswerverifiedShow Answer

Breakthrough opportunities

Correct AnswerverifiedShow Answer

Although the customer should be the target of all marketing efforts,customers are not part of a marketing mix.

Correct AnswerverifiedShow Answer

When it comes to choosing among different types of opportunities,most firms tend to be production-oriented and usually think first of diversification.

Correct AnswerverifiedShow Answer

In contrast to mass marketing,target marketing

Correct AnswerverifiedShow Answer

Marketing strategy planning is the process of deciding how best to sell the products the firm produces.

Correct AnswerverifiedShow Answer

A channel of distribution must include an intermediary.

Correct AnswerverifiedShow Answer

Any series of firms (or individuals)from producer to final user or consumer is a channel of distribution.

Correct AnswerverifiedShow Answer

The marketing strategy planning process starts with a narrow look at a market and becomes broader the closer the firm comes to developing a marketing mix.

Correct AnswerverifiedShow Answer

Which of the following firms is exploring a market development opportunity?

Correct AnswerverifiedShow Answer

Personal selling,mass selling,and sales promotion are all included in the Promotion area of the marketing mix.

Correct AnswerverifiedShow Answer

Which of the following refers to a written statement of a marketing strategy and the time-related details for carrying out the strategy?

Correct AnswerverifiedShow Answer

When a firm tries to increase sales by selling its present products in new markets,it is called

Correct AnswerverifiedShow Answer

A detailed plan for handling transportation and storage of a new product that is now being distributed to wholesalers nationwide is an aspect of which part of the "Four Ps"?

Correct AnswerverifiedShow Answer

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