MBA 706 - KIM Exam 1
Commoditization - answer The process by which products lack differentiation and are
seen as offering similar benefits, leading to increased price competition.
Environmental scanning - answer The analysis of economic, political, legal,
technological, and cultural events that may impact the organization's operations and
strategies.
Price has a direct connection with customer demand - answer Which of the following
statements about pricing decisions in the marketing program is TRUE?
tactical planning - answerWhat type of planning deals with specific markets or market
segments and the development of marketing programs that will fulfill the needs of
customers in those markets?
Customers - answerAmong the fundamental changes to marketing and business
practice in today's economy is the dramatic increase in the availability of information.
This increase in information has created a shift in the balance of power in the supply
chain. Who now holds most of the power in today's economy?
Vision statement - answerA statement that outlines the long-term aspirations and goals
of an organization, answering the question 'What do we want to become?'
Because top managers must decide whether the marketing plan is the best use for the
organization's scarce resources - answerin the context of marketing planning, why is it
vital that the marketing plan be capable of selling itself to top management?
Evaluation and control - answerMotorola continuously establishes performance
standards and assesses actual performance by comparing it with these standards.
Afterwards, Motorola often takes corrective action to reduce any discrepancies. This
process is most likely outlined in the __________ section of Motorola's marketing plan.
Mission statement - answerA formal summary of the aims and values of an
organization, providing a framework for setting goals and objectives.
The SWOT analysis is derived from the marketing goals and objectives section -
answerFalse
review of competition - answerWhich of the following is NOT a part of evaluating the
internal environment?
Examining an annual report - answerWhich of the following is an example of collecting
secondary information?
Commoditization - answer The process by which products lack differentiation and are
seen as offering similar benefits, leading to increased price competition.
Environmental scanning - answer The analysis of economic, political, legal,
technological, and cultural events that may impact the organization's operations and
strategies.
Price has a direct connection with customer demand - answer Which of the following
statements about pricing decisions in the marketing program is TRUE?
tactical planning - answerWhat type of planning deals with specific markets or market
segments and the development of marketing programs that will fulfill the needs of
customers in those markets?
Customers - answerAmong the fundamental changes to marketing and business
practice in today's economy is the dramatic increase in the availability of information.
This increase in information has created a shift in the balance of power in the supply
chain. Who now holds most of the power in today's economy?
Vision statement - answerA statement that outlines the long-term aspirations and goals
of an organization, answering the question 'What do we want to become?'
Because top managers must decide whether the marketing plan is the best use for the
organization's scarce resources - answerin the context of marketing planning, why is it
vital that the marketing plan be capable of selling itself to top management?
Evaluation and control - answerMotorola continuously establishes performance
standards and assesses actual performance by comparing it with these standards.
Afterwards, Motorola often takes corrective action to reduce any discrepancies. This
process is most likely outlined in the __________ section of Motorola's marketing plan.
Mission statement - answerA formal summary of the aims and values of an
organization, providing a framework for setting goals and objectives.
The SWOT analysis is derived from the marketing goals and objectives section -
answerFalse
review of competition - answerWhich of the following is NOT a part of evaluating the
internal environment?
Examining an annual report - answerWhich of the following is an example of collecting
secondary information?
