Chapter 2 Marketing Quiz with Verified Answers
Graded A+
A new hardware company is writing its mission C.defining its overall purpose and mission
statement. Which of the following is the BEST D.defining its revenue objectives
mission statement possible for the new E.setting growth strategy goals -
company? ANSWER -defining its overall purpose and
mission
A.We will have $2 million in profit by the end of
our second fiscal year and twice that amount by
the end of year five. Which of the following is NOT a step in the
B.We will help customers build, invigorate, strategic planning process?
restore, refurbish, or completely redesign their
homes or businesses. A.Set revenue and financial goals
C.We embrace the deeper meaning of home and B.Decisions regarding portfolio of business and
commercial improvements. products
D.We are providers of hardware, lumber-based, C.Development of individual detailed
and appliance products to be used for home departmental plans
improvement and commercial construction D.Define overall purpose and mission
projects. E.Creation of overall supporting objectives for the
E.We will be the best hardware company in the company - ANSWER -Set revenue and
world. No other company will ever outsell us. - financial goals
ANSWER -We will help customers build,
invigorate, restore, refurbish, or completely
redesign their homes or businesses After creating a company's mission and
objectives, the executive team must then plan
____________ by keeping in mind the best fit for
Which of the following actions helps a company its strengths, weaknesses, and opportunities in
find the game plan for long-run survival and the environment.
growth that makes the most sense given its
specific situation, opportunities, objectives, and A.revenue goals and objectives
resources? B.its research and development efforts
C.its overall growth strategy
A.Individual departmental planning D.its business portfolio
B.Financial and revenue planning E.individual department objectives -
C.Marketing planning ANSWER -its business portfolio
D.Research and development planning
E.Strategic planning - ANSWER -Strategic
planning Stars, cash cows, question marks, and dogs are
the four types of strategic business units (SBUs)
defined in which of the following?
When a company starts the strategic planning
process at the corporate level, it begins by A.SWOT analysis
_____________________________. B.Product expansion grid
C.Growth-share matrix
A.creating research and development plans D.Value delivery network
B.formulating product innovation objectives E.Market segmentation - ANSWER -
1/5
, Chapter 2 Marketing Quiz with Verified Answers
Graded A+
Growth-share matrix mark will become a star.
What are stars in the growth-share matrix? In analyzing a company's current business
portfolio, what is management's first step?
A.The growth-share matrix does not contain
stars. A.Determine the company's target market
B.High-growth, high-share businesses or B.Determine the company's goals
products C.Perform a SWOT analysis
C.Low-share, high-growth businesses or D.Identify strategic business units
products E.Outline the company's mission statement -
D.Low-growth, low-share businesses and ANSWER -Identify strategic business units
products
E.Low-growth, high-share businesses or
products - ANSWER -High-growth, high- The goal of a market development growth
share businesses or products strategy is to do which of the following?
A.Identify and develop new markets for current
Using the BCG growth-share matrix as a guide, products of a company's market
Masumura Technologies identified question B.Make more sales to current customers without
marks in its business portfolio but is currently changing its original products
maintaining its market share. At a recent meeting C.Buy businesses beyond its current products
with the company's senior management team, and markets
the CEO of Masumura and her team members D.Offer modified or new products to current
decided to allocate all of the company's profits markets
toward the growth and expansion of these E.Create businesses beyond its current products
question marks, in order to cause the question and markets - ANSWER -Identify and
marks to become stars. What is likely to happen develop new markets for current products of a
to this company? company's market
A.The growth of the company will be
unpredictable because there is no guarantee that A value chain consists of which of the following?
a question mark will become a star.
B.The company will not show any growth or A.Customers who assign value to products within
change at all because profits will neither increase the company
nor decrease. B.The network of distributors and suppliers that
C.The company will be unable to sustain itself support a company
because its profits will be spent on developing C.An acquisitions team that buys products for the
question marks and not on maintaining more company to sell
profitable SBUs. D.A chain of SBUs within a company that provide
D.The company will gain market share and the most value
prosper as the question - ANSWER -The E.Internal departments and other companies that
growth of the company will be unpredictable carry out value-creating activities -
because there is no guarantee that a question ANSWER -Internal departments and other
2/5
Graded A+
A new hardware company is writing its mission C.defining its overall purpose and mission
statement. Which of the following is the BEST D.defining its revenue objectives
mission statement possible for the new E.setting growth strategy goals -
company? ANSWER -defining its overall purpose and
mission
A.We will have $2 million in profit by the end of
our second fiscal year and twice that amount by
the end of year five. Which of the following is NOT a step in the
B.We will help customers build, invigorate, strategic planning process?
restore, refurbish, or completely redesign their
homes or businesses. A.Set revenue and financial goals
C.We embrace the deeper meaning of home and B.Decisions regarding portfolio of business and
commercial improvements. products
D.We are providers of hardware, lumber-based, C.Development of individual detailed
and appliance products to be used for home departmental plans
improvement and commercial construction D.Define overall purpose and mission
projects. E.Creation of overall supporting objectives for the
E.We will be the best hardware company in the company - ANSWER -Set revenue and
world. No other company will ever outsell us. - financial goals
ANSWER -We will help customers build,
invigorate, restore, refurbish, or completely
redesign their homes or businesses After creating a company's mission and
objectives, the executive team must then plan
____________ by keeping in mind the best fit for
Which of the following actions helps a company its strengths, weaknesses, and opportunities in
find the game plan for long-run survival and the environment.
growth that makes the most sense given its
specific situation, opportunities, objectives, and A.revenue goals and objectives
resources? B.its research and development efforts
C.its overall growth strategy
A.Individual departmental planning D.its business portfolio
B.Financial and revenue planning E.individual department objectives -
C.Marketing planning ANSWER -its business portfolio
D.Research and development planning
E.Strategic planning - ANSWER -Strategic
planning Stars, cash cows, question marks, and dogs are
the four types of strategic business units (SBUs)
defined in which of the following?
When a company starts the strategic planning
process at the corporate level, it begins by A.SWOT analysis
_____________________________. B.Product expansion grid
C.Growth-share matrix
A.creating research and development plans D.Value delivery network
B.formulating product innovation objectives E.Market segmentation - ANSWER -
1/5
, Chapter 2 Marketing Quiz with Verified Answers
Graded A+
Growth-share matrix mark will become a star.
What are stars in the growth-share matrix? In analyzing a company's current business
portfolio, what is management's first step?
A.The growth-share matrix does not contain
stars. A.Determine the company's target market
B.High-growth, high-share businesses or B.Determine the company's goals
products C.Perform a SWOT analysis
C.Low-share, high-growth businesses or D.Identify strategic business units
products E.Outline the company's mission statement -
D.Low-growth, low-share businesses and ANSWER -Identify strategic business units
products
E.Low-growth, high-share businesses or
products - ANSWER -High-growth, high- The goal of a market development growth
share businesses or products strategy is to do which of the following?
A.Identify and develop new markets for current
Using the BCG growth-share matrix as a guide, products of a company's market
Masumura Technologies identified question B.Make more sales to current customers without
marks in its business portfolio but is currently changing its original products
maintaining its market share. At a recent meeting C.Buy businesses beyond its current products
with the company's senior management team, and markets
the CEO of Masumura and her team members D.Offer modified or new products to current
decided to allocate all of the company's profits markets
toward the growth and expansion of these E.Create businesses beyond its current products
question marks, in order to cause the question and markets - ANSWER -Identify and
marks to become stars. What is likely to happen develop new markets for current products of a
to this company? company's market
A.The growth of the company will be
unpredictable because there is no guarantee that A value chain consists of which of the following?
a question mark will become a star.
B.The company will not show any growth or A.Customers who assign value to products within
change at all because profits will neither increase the company
nor decrease. B.The network of distributors and suppliers that
C.The company will be unable to sustain itself support a company
because its profits will be spent on developing C.An acquisitions team that buys products for the
question marks and not on maintaining more company to sell
profitable SBUs. D.A chain of SBUs within a company that provide
D.The company will gain market share and the most value
prosper as the question - ANSWER -The E.Internal departments and other companies that
growth of the company will be unpredictable carry out value-creating activities -
because there is no guarantee that a question ANSWER -Internal departments and other
2/5
