BUS 360 Test 1 Questions With All Correct &
Verified Answers
Which of the following is one of the major considerations involved when a company develops its
marketing strategy? Correct answer-identification of target markets
Although Starbucks, Dunkin' Donuts, and McDonald's all strive to provide a good cup of coffee and
pastries to their respective target markets, the difference in who they target, how they design their
marketing mix, and what they choose as the basis of building their competitive advantage is directly
related to their own Correct answer-marketing strategy
Singapore Airlines is recognized as an industry leader for exemplary customer service, and has
continued to add new ways to serve customers better than competitors. In doing so, it has focused
on sustaining its competitive advantage through _____ excellence. Correct answer-customer
When marketers strive to get their customers the merchandise they want, when they want it, in the
required quantities, and at a lower delivered cost than that of their competitors, they are hoping to
achieve a sustainable competitive advantage through _______ excellence. Correct answer-
operational
Companies must deliver more value and satisfaction to target consumers than its competitors to gain
a Correct answer-competitive advantage
A written document composed of an analysis of the current marketing situation, opportunities and
threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action
programs, and projected income statements is referred to as a(n) Correct answer-marketing plan
Which of the following represents the three major phases of a marketing plan? Correct answer-
planning, implementation, control
When a firm considers its overall objectives and considers the type of business it is in, it is engaged in
which of the following steps of the marketing planning process? Correct answer-defining the
mission
The SWOT analysis is typically conducted during which of the following steps in the marketing
planning process? Correct answer-conducting a situation analysis
A SWOT analysis involves an analysis of factors internal to the company, which include _____ as well
as factors outside the company, which include _____. Correct answer-strengths and weaknesses;
opportunities and threats
A local coffee shop is known for poor customer service and an unclean, dirty environment. These
factors would be classified as _____ in a SWOT analysis. Correct answer-weaknesses
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing
planning, which is _______ and involves using STP (segmentation, targeting, and positioning).
Correct answer-identifying and evaluating opportunities
Toothpaste manufacturers understand that consumers have different needs when it comes to
toothpaste (i.e., teeth whitening, sensitive teeth, breath freshening, and tartar control). Knowing
, that, they have divided the market based on these various needs and developed toothpaste to
accommodate each group. By doing so, these toothpaste manufacturers are involved in Correct
answer-market segmentation
Marriott Hotels recognizes that there are different groups of travelers with different needs, wants,
and characteristics in their choice of lodging. The process of dividing Marriott's market into these
various groups is Correct answer-marketing segmentation
Honda developed its new CR-Z hybrid model to a distinct segment of consumers as a fun, green,
sporty hybrid that stands out as being uniquely different from other hybrid models. This is an
example of which of the following? Correct answer-market positioning
Through which of the following marketing-mix variables do companies capture value from
consumers, resulting in the generation of revenue? Correct answer-price
When marketers make their offering available when and where the customer wants it, which of the
following elements of the marketing mix is involved? Correct answer-place
Marketers communicate the value proposition to their customers through a variety of media, such as
television and the Internet. Which of the four Ps does this represent? Correct answer-promotion
To evaluate the effectiveness or performance of a marketing strategy, firms typically use Correct
answer-marketing metrics
A _______ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by
marketers to help explain why things happened and also to predict the future. Correct answer-
metric
Which of the following is a marketing metric that might be used to evaluate the performance of a
company's implementation of its marketing plan? Correct answer-GM (gross margin)
When managers at General Motors evaluated all the firms' various divisions and then chose to close
both the Saturn and Pontiac divisions, it was involved in Correct answer-portfolio analysis
The Goodyear Tire Company is organized by regions: North America, Europe, Middle East and Africa,
Latin America, and Asia Pacific. These divisions of Goodyear are called Correct answer-strategic
business units
What two metrics are used in the BCG portfolio analysis to evaluate the various products of a firm?
Correct answer-relative market share and market growth rate
General Motors determined that it would close down divisions that were in low-growth markets that
had relatively low market shares. According to the BCG product portfolio analysis, GM was
identifying divisions in the _____ category for closure. Correct answer-dogs
According to the BCG matrix, which type of product typically has excess resources that can be used
to support other products that need additional resources? Correct answer-cash cows
Which of the following is one of the four major growth strategies marketers typically utilize?
Correct answer-product development
Verified Answers
Which of the following is one of the major considerations involved when a company develops its
marketing strategy? Correct answer-identification of target markets
Although Starbucks, Dunkin' Donuts, and McDonald's all strive to provide a good cup of coffee and
pastries to their respective target markets, the difference in who they target, how they design their
marketing mix, and what they choose as the basis of building their competitive advantage is directly
related to their own Correct answer-marketing strategy
Singapore Airlines is recognized as an industry leader for exemplary customer service, and has
continued to add new ways to serve customers better than competitors. In doing so, it has focused
on sustaining its competitive advantage through _____ excellence. Correct answer-customer
When marketers strive to get their customers the merchandise they want, when they want it, in the
required quantities, and at a lower delivered cost than that of their competitors, they are hoping to
achieve a sustainable competitive advantage through _______ excellence. Correct answer-
operational
Companies must deliver more value and satisfaction to target consumers than its competitors to gain
a Correct answer-competitive advantage
A written document composed of an analysis of the current marketing situation, opportunities and
threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action
programs, and projected income statements is referred to as a(n) Correct answer-marketing plan
Which of the following represents the three major phases of a marketing plan? Correct answer-
planning, implementation, control
When a firm considers its overall objectives and considers the type of business it is in, it is engaged in
which of the following steps of the marketing planning process? Correct answer-defining the
mission
The SWOT analysis is typically conducted during which of the following steps in the marketing
planning process? Correct answer-conducting a situation analysis
A SWOT analysis involves an analysis of factors internal to the company, which include _____ as well
as factors outside the company, which include _____. Correct answer-strengths and weaknesses;
opportunities and threats
A local coffee shop is known for poor customer service and an unclean, dirty environment. These
factors would be classified as _____ in a SWOT analysis. Correct answer-weaknesses
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing
planning, which is _______ and involves using STP (segmentation, targeting, and positioning).
Correct answer-identifying and evaluating opportunities
Toothpaste manufacturers understand that consumers have different needs when it comes to
toothpaste (i.e., teeth whitening, sensitive teeth, breath freshening, and tartar control). Knowing
, that, they have divided the market based on these various needs and developed toothpaste to
accommodate each group. By doing so, these toothpaste manufacturers are involved in Correct
answer-market segmentation
Marriott Hotels recognizes that there are different groups of travelers with different needs, wants,
and characteristics in their choice of lodging. The process of dividing Marriott's market into these
various groups is Correct answer-marketing segmentation
Honda developed its new CR-Z hybrid model to a distinct segment of consumers as a fun, green,
sporty hybrid that stands out as being uniquely different from other hybrid models. This is an
example of which of the following? Correct answer-market positioning
Through which of the following marketing-mix variables do companies capture value from
consumers, resulting in the generation of revenue? Correct answer-price
When marketers make their offering available when and where the customer wants it, which of the
following elements of the marketing mix is involved? Correct answer-place
Marketers communicate the value proposition to their customers through a variety of media, such as
television and the Internet. Which of the four Ps does this represent? Correct answer-promotion
To evaluate the effectiveness or performance of a marketing strategy, firms typically use Correct
answer-marketing metrics
A _______ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by
marketers to help explain why things happened and also to predict the future. Correct answer-
metric
Which of the following is a marketing metric that might be used to evaluate the performance of a
company's implementation of its marketing plan? Correct answer-GM (gross margin)
When managers at General Motors evaluated all the firms' various divisions and then chose to close
both the Saturn and Pontiac divisions, it was involved in Correct answer-portfolio analysis
The Goodyear Tire Company is organized by regions: North America, Europe, Middle East and Africa,
Latin America, and Asia Pacific. These divisions of Goodyear are called Correct answer-strategic
business units
What two metrics are used in the BCG portfolio analysis to evaluate the various products of a firm?
Correct answer-relative market share and market growth rate
General Motors determined that it would close down divisions that were in low-growth markets that
had relatively low market shares. According to the BCG product portfolio analysis, GM was
identifying divisions in the _____ category for closure. Correct answer-dogs
According to the BCG matrix, which type of product typically has excess resources that can be used
to support other products that need additional resources? Correct answer-cash cows
Which of the following is one of the four major growth strategies marketers typically utilize?
Correct answer-product development
