MARK 3000 FINAL EXAM Chapter 2 (TEST
REVIEW) | Questions with 100% Correct Answers |
Verified | Latest Update 2026
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Terms in this set (118)
Strong supplier relations and True
efficient supply chains help firms
such as Walmart achieve operational
excellence.
TRUE or FALSE
Strong supplier relations and False
efficient supply chains help firms
such as Walmart achieve operational
excellence.
TRUE or FALSE
It is not always necessary to go True
through all the steps in the marketing
planning process.
TRUE or FALSE
A mission statement describes the False
specific actions a firm will take to
achieve its goals.
TRUE or FALSE
,iTunes software is often credited with True
the success of the Apple iPod MP3
player, because it made the iPod
easier to use than competing players
and was difficult for competitors to
duplicate. This is an example of a
sustainable competitive advantage.
TRUE or FALSE
STP refers to segmentation, testing, False
and promotion. (segmentation, targeting, and positioning)
TRUE or FALSE
The components of a SWOT analysis False
are strengths, weaknesses,
opportunities, and tactics.
TRUE or FALSE
Firms are typically more successful True
when they focus on opportunities
that build on their strengths relative
to those of their competition.
TRUE or FALSE
Duke's is a surfer-themed restaurant False
chain in Hawaii. Most of its
customers are tourists. In a SWOT
analysis for Duke's, the possibility that
the recession might cut back on
tourism in Hawaii would be
considered a weakness.
TRUE or FALSE
,Price should be based on the value True
that the customer perceives.
TRUE or FALSE
Geraldo manages the electrical True
turbine engine division of General
Electric Corporation. He makes most
decisions independently, without
consulting headquarters. Geraldo
manages a strategic business unit.
TRUE or FALSE
The strategic planning process False
always proceeds sequentially
through the five steps.
TRUE or FALSE
Isaac is looking for ways to offer new False
goods and services to his existing
customers. He is pursuing a market
development strategy.
TRUE or FALSE
SanDisk's MP3 player product line True
(called the Sansa) has a low relative
market share. The MP3 player market
is expected to decline over the next
few years. In the Boston Consulting
Group (BCG) portfolio analysis, the
Sansa would be considered a dog.
TRUE or FALSE
, The "implement marketing mix" step False
of the strategic marketing planning
process is part of the control phase.
TRUE or FALSE
Relative market share is an example True
of a marketing metric.
TRUE or FALSE
Product penetration is one of the False
four major growth strategies.
TRUE or FALSE
If a firm wants to develop a C. examine its operations and customer relations to
sustainable competitive advantage, it identify significant things competitors cannot easily
should copy.
A. begin an aggressive campaign to
buy up competitors.
B. copy the innovative features of
other firms that are attractive to
customers.
C. examine its operations and
customer relations to identify
significant things competitors cannot
easily copy.
D. increase its marketing budget so
that it outspends its competitors.
E. arrange to meet with competitors
to discuss how to avoid direct
competition.
REVIEW) | Questions with 100% Correct Answers |
Verified | Latest Update 2026
Save
Terms in this set (118)
Strong supplier relations and True
efficient supply chains help firms
such as Walmart achieve operational
excellence.
TRUE or FALSE
Strong supplier relations and False
efficient supply chains help firms
such as Walmart achieve operational
excellence.
TRUE or FALSE
It is not always necessary to go True
through all the steps in the marketing
planning process.
TRUE or FALSE
A mission statement describes the False
specific actions a firm will take to
achieve its goals.
TRUE or FALSE
,iTunes software is often credited with True
the success of the Apple iPod MP3
player, because it made the iPod
easier to use than competing players
and was difficult for competitors to
duplicate. This is an example of a
sustainable competitive advantage.
TRUE or FALSE
STP refers to segmentation, testing, False
and promotion. (segmentation, targeting, and positioning)
TRUE or FALSE
The components of a SWOT analysis False
are strengths, weaknesses,
opportunities, and tactics.
TRUE or FALSE
Firms are typically more successful True
when they focus on opportunities
that build on their strengths relative
to those of their competition.
TRUE or FALSE
Duke's is a surfer-themed restaurant False
chain in Hawaii. Most of its
customers are tourists. In a SWOT
analysis for Duke's, the possibility that
the recession might cut back on
tourism in Hawaii would be
considered a weakness.
TRUE or FALSE
,Price should be based on the value True
that the customer perceives.
TRUE or FALSE
Geraldo manages the electrical True
turbine engine division of General
Electric Corporation. He makes most
decisions independently, without
consulting headquarters. Geraldo
manages a strategic business unit.
TRUE or FALSE
The strategic planning process False
always proceeds sequentially
through the five steps.
TRUE or FALSE
Isaac is looking for ways to offer new False
goods and services to his existing
customers. He is pursuing a market
development strategy.
TRUE or FALSE
SanDisk's MP3 player product line True
(called the Sansa) has a low relative
market share. The MP3 player market
is expected to decline over the next
few years. In the Boston Consulting
Group (BCG) portfolio analysis, the
Sansa would be considered a dog.
TRUE or FALSE
, The "implement marketing mix" step False
of the strategic marketing planning
process is part of the control phase.
TRUE or FALSE
Relative market share is an example True
of a marketing metric.
TRUE or FALSE
Product penetration is one of the False
four major growth strategies.
TRUE or FALSE
If a firm wants to develop a C. examine its operations and customer relations to
sustainable competitive advantage, it identify significant things competitors cannot easily
should copy.
A. begin an aggressive campaign to
buy up competitors.
B. copy the innovative features of
other firms that are attractive to
customers.
C. examine its operations and
customer relations to identify
significant things competitors cannot
easily copy.
D. increase its marketing budget so
that it outspends its competitors.
E. arrange to meet with competitors
to discuss how to avoid direct
competition.
