Developing Marketing Strategies and Plans MCQS Essay

1. A backb oneness ingredient of the grocery way exhibit is insightful, ________ selling strategies and architectural plans that bottom guide tradeplaceing activities. a. creativeb. measurablec. man-sizedd. microe. ecological niche function a2. According to a chapter story ab bug kayoed H&M raiment stores, H&M is able to put yields out quickly and inexpensively by in every(prenominal) of the interest EXCEPT ________. a. having hardly a(prenominal) middlemen and receiveing no factoriesb. buying large volumesc. having extensive experience in the clothing industry d. having a great knowledge of which goods should be bought from which markets e. having wide-cut image of its distri justion highroad from the time the goods atomic number 18 produced until the time they are change Answer e3. The task of any clientele is to deliver ________ at a profit. a. node subscribesb. productsc. guest regard asd. products and attendse. improve qualityAnswer c4. In a hy per competitive parsimony such(prenominal) as ours, a caller clear win more thanover by fine-tuning the set delivery process and choosing, providing, and ________ superior honour. a. communicatingb. selecting mark markets withc. composingd. break offe. searchingAnswer a5. The traditional view of merchandising is that the firm makes something and then ________ it. a. marketsb. sellsc. distributesd. footingse. returnsAnswer b6. Today, the mass-market is actually crisp into numerous ________, each with its own wants, perceptions, preferences, and buying criteria. a. micro marketsb. market butt endsc. macro marketsd. node cliquese. demographic building blocksAnswer a7. The setoff phase of the grade founding and delivery sequence is ________ that represents the homework marketing must do before any product exists. a. choosing the prizeb. market researchc. fundament marketingd. service consideratione. projective thinkingAnswer a8. The break step in the harbor creat ion and delivery sequence is ________ the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product. a. developingb. distributingc. communicatingd. reversinge. researchingAnswer c9. The Japanese have refined the value delivery process to include a component that emphasizes ________. a. zero functionb. zero guest feedback timec. zero promotiond. zero addiction on intermediariese. zero marketing beAnswer b10. The ________ is a tool for identifying ways to fashion more guest value. a. value bowed stringed instrumentb. customer surveyc. brand loyalty indexd. promotion channele. supplier data root wordAnswer a11. The ________ identifies nine strategically relevant activities that create value and cost in a specific championship. a. value hintb. value range of a functionc. missionary postary station statementd. annual reporte. theater directors logAnswer b12. The ________ in the value chain comprehend the seque nce of bringing materials into the disdain (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service). a. operations processb. manufacturing processc. base activitiesd. secondary activitiese. tertiary activitiesAnswer c13. Procurement, technology development, merciful option counseling, and firm infrastructure are handled in certain extraized departments and are called ________. a. materials handlingb. support activitiesc. inventory activitiesd. primary activitiese. benchmark activitiesAnswer b14. The firm should estimate its competitors costs and per variantances as ________ against which to compare its own costs and performance. a. competitionb. standardsc. challengesd. benchmarkse. moveable standardsAnswer d15. The firms mastery depends not only on how well each department performs its work, but also on how well the various departmental activitie s are coordinate to conduct ________. a. total strategiesb. satellite taskesc. core valuesd. core transaction processese. core technologiesAnswer d16. With honour to core business processes, all the activities tangled in gathering market intelligence, disseminating it within the organization, and acting on the information is referred to as the ________. a. market sensing processb. market research processc. address marketing processd. market pulse processe. deployment processAnswer a17. With respect to the core business processes, all the activities involved in researching, developing, and launchinging smart high-quality oblations quickly and within cipher are referred to as the ________. a. new product processb. new offering realization processc. product development processd. product launch processe. return on investment processAnswer b18. With respect to the core business processes, the ________ is considered to be all the activities involved in defining target markets an d prospecting for new customers. a. customer acquisition processb. customer relationship watchfulness processc. fulfillment counsel processd. customer prospecting processe. customer equity processAnswer a19. A good way to describe the ________ would be discuss all the activities involved in building deeper understanding, relationships, and offerings to individual customers. a. customer acquisition processb. customer relationship management processc. customer prospecting processd. customer fulfillment management processe. customer equity processAnswer b20. Another way to describe a value delivery electronic network (partnering with specific suppliers and distributors) is to call it a ________. a. teamwork groupb. cabalc. domestic office centerd. link to relationshipse. supply chainAnswer e21. The key to utilizing organizational core competencies is to ________ that make up the essence of the business. a. make the competencies redeem for themselvesb. own all intermediaries who c ome in contact with your goods and services c. own and nurture the resources and competenciesd. emphasize global promotionse. segment workforcesAnswer c22. We merchant ship say that a ________ has tierce characteristics (1) It is a source of competitive returns in that it makes a signifi faecal mattert contribution to perceived customer benefits, (2) it has applications in a wide variety of markets, and (3) it is difficult for competitors to imitate. a. core competencyb. business schemac. core technologyd. strategic business unite. taking dodgingAnswer a23. Core competencies tend to refer to areas of special technical and production expertise, where ________ tend to describe excellence in broader business processes. a. process benchmarksb. characteristic capabilitiesc. core business valuesd. value statementse. mission statementsAnswer b24. George Day sees market-driven organizations as excelling in three distinctive capabilities ________, customer linking, and channel bonding . a. target marketingb. market researchc. fulfilling customer needsd. market sensinge. customer service relationshipsAnswer d25. Competitors find it hard to imitate companies such as Southwest Airlines, Dell, or IKEA because they are unable to copy their ________. a. product innovationsb. distribution strategyc. determine policiesd. activity systemse. logistics systemAnswer d26. One conception of holistic marketing views it as integrating the value exploration, ________, and value delivery activities with the intent of building long-term, mutually satisfying relationship and co-prosperity among key stakeholders. a. value creationb. value propositionc. value managementd. value researche. value chainAnswer a27. Holistic marketers achieve gainful gain by expanding customer share, ________, and capturing customer lifetime value. a. undermining competitive competenciesb. building customer loyaltyc. milking the market for product desiresd. renewing a customer basee. inspecting all mar ket share dataAnswer b28. The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions? a. Value claimshow does the company deal with value eating away? b. Value propositionhow lavatory value propositions be made profi display board? c. Value chainare there weak links in the companys value chain d. Value networkhow can a company effectively network? e. Value explorationhow can a company identify new value opportunities? Answer e29. The customers ________ reflects existing and latent needs and includes dimensions such as the need for participation, stability, freedom, and change. a. competence poseb. resource setc. emotional officed. relationship spacee. cognitive spaceAnswer e30. The companies ________ can be described in terms of breadthbroad versus think scope of business and depthphysical versus knowledge-establish capabilities. a. business missionb. core strategyc. cognitive spaced. competency spacee . resource spaceAnswer d31. The collaborators ________ involves horizontal confederacys, where companies direct partners based on their ability to exploit related market opportunities, and vertical partnership, where companies choose partners based on their ability to serve their value creation. a. resource spaceb. competency spacec. cognitive spaced. rational spacee. service spaceAnswer a32. Business realignment may be demand to maximize core competencies. Which of the following would be one of the steps in this realignment process? a. Reviewing all macro relationships.b. Reviewing global outreach projections.c. Redefining the business concept (the big idea). d. Reviewing successes from e-commerce (if any).e. Revamping the ethics statement.Answer c33. ________ allows the company to discover who its customers are, how they behave, and what they need or want. It also enables the company to reply appropriately, coherently, and quickly to different customer opportunities. a. Networ k managementb. strategical managementc. Marketing managementd. guest relationship managemente. Total quality managementAnswer d34. To respond effectively and provide value delivery, the companyrequires ________ to integrate major business processes (e.g., order processing, general ledger, payroll, and production) within a single family of software modules. a. human resource managementb. internal auditing managementc. internal resource managementd. strategic managemente. marketing managementAnswer c35. With respect to value delivery, ________ allows the company to handle complex relationships with its trading partners to source, process, and deliver products. a. a value matrixb. a global distribution policyc. a business development strategyd. business partnership managemente. total quality managementAnswer d36. Successful marketing requires having capabilities such as understanding ________, creating customer value, delivering customer value, capturing customer value, and sustainin g customer value. a. customer loyaltyb. customer perc. customer retentiond. customer valuee. customer benefitsAnswer d37. According to a McKinsey research study, which of the following is one of the main challenges that marketing must face in the twenty-first coke? a. The threat of ethics-based lawsuits.b. Doing more with less.c. Hostile takeover attempts.d. Increasing control by big government.e. Being independent of the distribution process.Answer b38. Strategic planning in the twenty-first century calls for action in threekey areas. Which of these key areas deals specifically with devising a long-term granular plan for achieving long-run objectives? a. Creating a viable business opportunity.b. Producing a strategic fit.c. Developing an investment portfolio.d. Expanding core competencies.e. Establishing a strategy.Answer e39. some large companies consist of cardinal organizational levels the ________, the division level, the business unit level, and the product level. a. board of director levelb. major stakeholder levelc. management team leveld. somatic levele. strategic levelAnswer d40. The ________ is the central instrument for directing and coordinating the marketing effort. a. strategic planb. marketing planc. tactical pland. customer value statemente. embodied missionAnswer b41. The ________ lays out the target markets and the value proposition that will be offered, based on an depth psychology of the best market opportunities. a. organizational planb. strategic marketing planc. corporate tactical pland. corporate missione. customer value statementAnswer b42. In which of the following plans would we closely possible find directions for implementing and addressing daily challenges and opportunities in product features, pro motion, merchandising, pricing, sales channels, and serviceareas. a. The tactical marketing plan.b. The target marketing plan.c. The deployment plan.d. The product launch plan.e. The product development plan.Answer a43. If you w anted to find out more about target markets and the organizations value proposition, which of the following types of plans would some likely contain information that might be useful to you in your quest? a. The marketing plan.b. The organizational plan.c. The strategic marketing plan.d. The tactical marketing plan.e. The marketing mix plan.Answer c44. The ________ process consists of corporate, division, business, and product planning. a. implementingb. arrogantc. innovationd. planninge. competitiveAnswer d45. All corporate headquarters undertake four planning activities, the first of which is ________. a. defining the corporate missionb. establishing strategic business units and assigning resources (SBUs) c. assigning resources to each SBUd. assessing branch opportunitiese. understanding target marketsAnswer a46. A clear, thoughtful mission statement provides employees with a shared sense of purpose, direction, and ________. a. profitabilityb. target market feasibilityc. opportu nityd. continuous improvemente. quality productsAnswer c47. Mission statements are at their best when they reflect a ________. a. marketb. strengthc. competencyd. visione. valueAnswer d48. Which of the following terms matches to the phrase it is a single business or accretion of related businesses that can be planned separately from the rest of the company? a. Strategic business unit.b. Diverse business unit.c. Growth business unit.d. deferral market unit.e. Specialized business unit.Answer a49. Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies. a. concentricb. conglomeratec. horizontald. intensive egressione. integrative growthAnswer d50. A(n) ________ is when a company might seek new businesses that have no relationship to its current technology, products, or markets. a. concentric strategyb. conglomerate strategyc. horizontal strategyd. intensive growth strategye. integrative strategyAnswer b51. Which of the following terms most closely matches to the sharedexperiences, stories, beliefs, and norms that characterize an organization? a. Organizational dynamics.b. A business mission.c. An ethical/value statement.d. Customer relationships.e. Corporate culture.Answer e52. The first step in the business unit strategic-planning process deals with which of the following? a. cultivation formulation.b. Business mission.c. Strategy formulation.d. Program formulation.e. SWOT analysis.Answer b53. When a business gets to know market segments intimately and pursues either cost leaders or differentiation within the target segment it is referred to as a ________. a. defined strategyb. focused strategyc. value-added strategyd. competitive wages strategye. customer-focused strategyAnswer b54. If a firm pursues a ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution. a. differentiationb. boilersuit cost leadershipc. focusd. domestic customer relationship e. market shareAnswer b55. To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage partnerships as core skills. This is called ________. a. value managed partnershipb. synergistic partnershipc. centralized partnershipd. partner relationship managemente. win-win relationship managementAnswer d56. Traditionally, most businesses focused on stockholders. Today, the focus is on what are called ________. a. stakeholdersb. partnersc. regulatorsd. consumer triadse. supply-chain relationshipsAnswer a57. A ________ is a written record that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives. a. strategic planb. marketing planc. sales pland. target market plane. competitive analysis planAnswer b58. Which of the following permits senior management to grasp the marketing plans major thrust? a. The situ ation analysis.b. The marketing strategy.c. The executive summary and table of contents.d. Financial projections.e. Implementation and controls.Answer c59. Most marketing plans cover ________.a. one yearb. two yearsc. three yearsd. four yearse. five yearsAnswer a60. The most ofttimes cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, substandardcompetitive analysis, and a ________ focus. a. long-termb. profitc. short-rund. producte. priceAnswer c