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MKT300 MT chap2
MT chap2
| Question | Answer |
|---|---|
| The managerial process of creating and maintaining a fit between an organization's objectives and resources and the evolving market opportunities is called: | strategic planning. |
| A potential weakness for Luther Trucking Company is the age of its tractors, which could project an image of danger or low quality. The company also has a high turnover of drivers. On the other hand, the company's low operating costs result in lower prices for customers. The company managers were able to gather this information by means of a(n): | situation analysis |
| Wal-Mart's large size allows it to purchase products from its suppliers at a lower price than most of its competitors; it can then pass on the savings to customers. This undoubtedly gives Wal-Mart a ________ competitive advantage over other retailers. | cost |
| Suppose Procter & Gamble begins a major advertising campaign for Tide detergent, running frequent TV commercials and supplying existing customers with dollar-off coupons. Procter & Gamble is following the ________ strategy. | market penetration |
| Granpaparazzi is a blog dedicated to photographing senior street styles in order to demonstrate the cyclical nature of fashion to younger generations while showing how hip our elders can be. As part of the growing number of businesses catering to seniors, Granpaparazzi likely decided on their market segment using: | market opportunity analysis |
| Collins Bookstore's mission is to sell Colorado books to mountain climbing visitors. Collin's Bookstore's mission statement may indicate: | marketing myopia |
| Which allocation strategy should Matrix Communication Equipment probably employ with its typewriter SBU? | divest |
| Which of the following is NOT one of the four Ps of the marketing mix? | packaging |
| The process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives is: | implementation |
| Which of the following statements about a marketing audit is NOT true? | It should be carried out any time the marketing plan begins to veer off course. |
| A strategic business unit (SBU) is a distinct single business with its own mission and target market within the larger organization. | true |
| Which of the following is a well-stated objective? | To achieve a 10 percent return on investment during 2009, with a payback on new investments of no longer than four years |
| Strategic planning should be done once every year to be effective. | false |
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pfrizzel