MKTG FINAL EXAM LATEST 2023-2024 REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS
Which of the following is one of the five basic questions that a good mission statement should answer? -
(answer) What is our operating philosophy?
The SWOT analysis is derived from the marketing goals and objectives section. - (answer) TRUE
Whether at the corporate, business-unit, or functional level, the planning process always begins with an
in-depth: - (answer) situation analysis.
In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive
advantage by doing something better than the competition. - (answer) True
Marketing goals should be specific statements stated in quantitative terms. - (answer) False
In developing a marketing plan, the section on goals and objectives defines the parameters by which the
firm will measure actual performance. In this respect, the goals and objectives section is tied closely to
the __________ section of the marketing plan. - (answer) evaluation and control
Sup Dogs possesses capabilities that allow it to serve customers' needs better than the competition.
Therefore, Sup Dogs is said to have a: - (answer) competitive advantage.
Goals are more specific than objectives. - (answer) False
A marketer for Whole Foods compares sales during a certain time period to performance standards in
the marketing plan. This process is known as marketing implementation. - (answer) False
The marketing planning process typically requires the coordination of __________ at the top of the
corporate hierarchy with more __________ at the bottom. - (answer) broad-based decisions; narrowly
defined actions
Supplier power considers the ability of suppliers in an industry to control the prices they can charge to
industry members. When considering suppliers selling commodities like flour and sugar, these suppliers
, MKTG FINAL EXAM LATEST 2023-2024 REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS
have a great deal of power compared to highly concentrated suppliers like airplane parts manufacturers.
- (answer) True
The SWOT synthesizes internal and external analyses so managers can understand, as well as create, the
potential actions that could develop a sustainable competitive advantage. - (answer) True
According to the module video, "Corporate Level Strategy," corporate-level strategy helps managers: -
(answer) understand how the business might expand beyond the firm's original industry
According to the business strategy video in the module, outperformance can be measured in all of the
following ways EXCEPT: - (answer) market share
According to the competitive advantage video in the module, competitive parity occurs when
companies are performing at a similar level with one company demonstrating a competitive advantage. -
(answer) false
The PESTEL Analysis framework helps companies better understand: - (answer) Strengths and
weaknesses
A consumer wanted to purchase a new computer. However, she used the money to pay her rent instead.
In this case, housing is what type of competitor? - (answer) Total budget competitor
What is perhaps the most important economic reality in the United States over the last 50 years? -
(answer) Our economy has shifted to become dominated by intangibles such as services and
information.
Microsoft is interested in customers' perceptions of Windows 8, its new PC operating system. Since the
research goal is rather specific, Microsoft should conduct its own __________ research by asking
customers to complete an online questionnaire. - (answer) primary
Which of the following statements describes a reason why noncustomers do not purchase a firm's
products? - (answer) Noncustomers do not know that the firm's product exists.
Which of the following is one of the five basic questions that a good mission statement should answer? -
(answer) What is our operating philosophy?
The SWOT analysis is derived from the marketing goals and objectives section. - (answer) TRUE
Whether at the corporate, business-unit, or functional level, the planning process always begins with an
in-depth: - (answer) situation analysis.
In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive
advantage by doing something better than the competition. - (answer) True
Marketing goals should be specific statements stated in quantitative terms. - (answer) False
In developing a marketing plan, the section on goals and objectives defines the parameters by which the
firm will measure actual performance. In this respect, the goals and objectives section is tied closely to
the __________ section of the marketing plan. - (answer) evaluation and control
Sup Dogs possesses capabilities that allow it to serve customers' needs better than the competition.
Therefore, Sup Dogs is said to have a: - (answer) competitive advantage.
Goals are more specific than objectives. - (answer) False
A marketer for Whole Foods compares sales during a certain time period to performance standards in
the marketing plan. This process is known as marketing implementation. - (answer) False
The marketing planning process typically requires the coordination of __________ at the top of the
corporate hierarchy with more __________ at the bottom. - (answer) broad-based decisions; narrowly
defined actions
Supplier power considers the ability of suppliers in an industry to control the prices they can charge to
industry members. When considering suppliers selling commodities like flour and sugar, these suppliers
, MKTG FINAL EXAM LATEST 2023-2024 REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS
have a great deal of power compared to highly concentrated suppliers like airplane parts manufacturers.
- (answer) True
The SWOT synthesizes internal and external analyses so managers can understand, as well as create, the
potential actions that could develop a sustainable competitive advantage. - (answer) True
According to the module video, "Corporate Level Strategy," corporate-level strategy helps managers: -
(answer) understand how the business might expand beyond the firm's original industry
According to the business strategy video in the module, outperformance can be measured in all of the
following ways EXCEPT: - (answer) market share
According to the competitive advantage video in the module, competitive parity occurs when
companies are performing at a similar level with one company demonstrating a competitive advantage. -
(answer) false
The PESTEL Analysis framework helps companies better understand: - (answer) Strengths and
weaknesses
A consumer wanted to purchase a new computer. However, she used the money to pay her rent instead.
In this case, housing is what type of competitor? - (answer) Total budget competitor
What is perhaps the most important economic reality in the United States over the last 50 years? -
(answer) Our economy has shifted to become dominated by intangibles such as services and
information.
Microsoft is interested in customers' perceptions of Windows 8, its new PC operating system. Since the
research goal is rather specific, Microsoft should conduct its own __________ research by asking
customers to complete an online questionnaire. - (answer) primary
Which of the following statements describes a reason why noncustomers do not purchase a firm's
products? - (answer) Noncustomers do not know that the firm's product exists.
