ADVANCED EXAM QUESTIONS AND ANSWER FOR PRINCIPLES OF MARKETING 17TH EDITION (KOTLER/ARMS

ADVANCED EXAM QUESTIONS AND
ANSWER FOR PRINCIPLES OF MARKETING 17TH
EDITION


(KOTLER/ARMSTRONG) TESTBANK

Chapter 2: Company and Marketing Strategy: Partnering to Build Customer
Engagement, Value, and Relationships

1) is the process of developing and maintaining a crucial fit between the
organization's goals and capabilities and its changing marketing opportunities.
A) Benchmarking

,A) identifying the organization's weaknesses and the threats it faces
ANSWER: C
AACSB: Analytical thinking
Skill: Concept

OBJ: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty:
Easy

,4) Which of the following is NOT a step in the strategic planning process?
A) defining the company mission
B) setting company OBJs and goals
C) designing the business portfolio
D) planning marketing and other functional strategies
E) evaluating members of the company's value chain
ANSWER: E
AACSB: Analytical thinking
Skill: Concept
OBJ: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Easy

5) A documents an organization's purpose—what it wants to accomplish in the
larger environment. A) vision statement
B) mission statement
C) business portfolio
D) value proposition
E) product strategy
ANSWER: B
Skill: Concept
OBJ: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Easy

6) Mission statements should and be defined in terms of _ .
A) be technology oriented; meeting the self-actualization needs of customers
B) be product oriented; satisfying the esteem needs of customers
C) embody the company's short-term plans; current opportunities
D) be market oriented; satisfying basic customer needs
E) address sales and profits; the net return on investments
ANSWER: D
Skill: Concept
OBJ: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Moderate

, 7) A mission statement serves as a .
A) statement of the organization's net profits
B) plan for short-term sustainability
C) statement of the organization's purpose
D) statement of the organization's current liabilities
E) reward plan for the organization's highly skilled employees
ANSWER: C
Skill: Concept
OBJ: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Easy
8) Which of the following is NOT a market-oriented business definition?
A) "We empower customers to realize their dreams."
B) "We make high-quality consumer food products."
C) "We sell success and status."
D) "We create the Hilton experience."
E) "We bring innovation to every home."
ANSWER: B
AACSB: Analytical thinking
Skill: Concept
OBJ: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Moderate

9) Companies that define their missions in terms of products or technologies are
considered myopic primarily because .
A) products and technologies result in low returns on investment
B) consumer preferences with regard to products and technology are difficult to
predict
C) consumer preferences for different product categories vary from time to time
D) products and technologies eventually become outdated
E) most consumers are not comfortable using sophisticated technology during the
buying process
ANSWER: D