Marketing 311 Chapter 2 Exam Questions With Complete Solutions

Marketing 311 Chapter 2 Exam Questions With Complete Solutions _______ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats. A) Porter's five forces B) A breakeven C) A regression D) A SWOT E) A cluster - Answer-d /.________ are a type of SBU that often require heavy investments to finance their rapid growth. A) Cash cows B) Question marks C) Stars D) Dogs E) Bears - Answer-c /.________ are low-growth, high-share businesses/products that need less investment to hold their market share. A) Stars B) Cash cows C) Question marks D) Dogs E) Bears - Answer-b /.________ are low-share business units in high-growth markets that require a lot of cash to hold their share. A) Stars B) Dogs C) Question marks D) Cash cows E) Bears - Answer-c /.________ involves looking at whether a company's key action plans are well-matched to its opportunities. A) Operating control B) Benchmarking C) Strategic control D) Regression analysis E) Portfolio analysis - Answer-c /.________ measures the profits generated by investments in marketing activities. A) A SWOT analysis B) A marketing audit C) Regression analysis D) Return on marketing investment E) Marketing budget evaluation - Answer-d /.________ provides a complete analysis of the company's situation. A) A SWOT analysis B) A marketing audit C) Regression analysis D) Return on marketing investment E) Marketing budget evaluation - Answer-a /.________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance. A) Field automation systems B) Market segments C) Market share D) Marketing dashboards E) Line extensions - Answer-d /.________ refers to activities that communicate the merits of the product and persuade target customers to buy it. A) Position B) Promotion C) Pricing D) Segmentation E) Prospecting - Answer-b /.________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved. A) Marketing control B) Marketing implementation C) Satisficing D) Prospecting E) Benchmarking - Answer-a /.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 /.A clear mission statement acts as an "invisible hand" that guides people in the organization. - Answer-true /.A company can ________ an SBU by selling it or phasing it out and using the resources elsewhere. A) divest B) promote C) expand D) harvest E) hold - Answer-a /.A company's broad mission leads it to develop all of the following EXCEPT ________. A) budget objectives B) business objectives C) sales objectives D) marketing objectives E) customer engagement objectives - Answer-a /.A company's broad mission leads to ________. A) increasing profits and more customers B) increasing sales and decreasing costs C) a higher share price D) a hierarchy of objectives, including business objective and marketing objectives E) increased market share and increasing profitability - Answer-d /.A company's mission statement provides the depth needed for all segments of the company to reach their goals. - Answer-false /.A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review. A) budget B) opportunity analysis C) threat analysis D) executive summary E) action program - Answer-d