Developing Marketing Strategies and Plans MCQS Essay

1. A key ingredient of the securities industry centering exercise is insightful, ________ foodstuffing strategies and syllabuss that can guide merchandising activities. a. creativeb. measurablec. macrod. microe. niche help a2. According to a chapter story ab off H&M clothing stores, H&M is able to put products out quickly and inexpensively by all of the following EXCEPT ________. a. having few middlemen and owning no factoriesb. buying large volumesc. having extensive experience in the clothing industry d. having a great knowledge of which goods should be bought from which grocerys e. having total control of its distribution line of merchandise from the cadence the goods are produced until the time they are sold Answer e3. The task of any concern is to deliver ________ at a profit. a. guest necessarilyb. productsc. guest revalued. products and emolumentse. improved qualityAnswer c4. In a hyper belligerent economy such as ours, a caller-out can win only by fine-tuning the value delivery mold and choosing, providing, and ________ superior value. a. communicatingb. selecting cigarette markets withc. composingd. developinge. researchingAnswer a5. The traditionalistic view of marketing is that the blotto makes something and then ________ it. a. marketsb. sellsc. distributesd. pricese. servicesAnswer b6. Today, the mass-market is actually splintering into numerous ________, each with its own wants, perceptions, preferences, and buying criteria. a. micro marketsb. market targetsc. macro marketsd. client cliquese. demographic unitsAnswer a7. The first phase of the value creation and delivery sequence is ________ that represents the homework marketing must do before any product exists. a. choosing the valueb. market researchc. target marketingd. service consideratione. projective thinkingAnswer a8. The last footprint in the value creation and delivery sequence is ________ the value where the gross sales force, sales promotion, advertising, and oth er communication tools announce and promote the product. a. developingb. distributingc. communicatingd. reversinge. researchingAnswer c9. The Japanese have refined the value delivery operate to include a comp adeptnt that emphasizes ________. a. zero servicingb. zero customer feedback timec. zero promotiond. zero dependency on intermediariese. zero marketing existsAnswer b10. The ________ is a tool for identifying ways to create much customer value. a. value chainb. customer surveyc. brand loyalty indexd. promotion channele. supplier databaseAnswer a11. The ________ identifies nine strategically relevant activities that create value and personify in a specific business. a. value propositionb. value chainc. mission statementd. annual breede. managers logAnswer b12. The ________ in the value chain ski binding the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics ), marketing them (marketing and sales), and servicing them (service). a. operations processb. manufacturing processc. primary activitiesd. secondary activitiese. tertiary activitiesAnswer c13. Procurement, technology development, human resource management, and firm infrastructure are handled in certain specialized departments and are called ________. a. materials handlingb. shop activitiesc. inventory activitiesd. primary activitiese. benchmark activitiesAnswer b14. The firm should envision its competitors costs and performances as ________ against which to compare its own costs and performance. a. competitionb. standardsc. challengesd. benchmarkse. moveable standardsAnswer d15. The firms success depends not only on how well each department performs its work, but also on how well the various departmental activities are coordinated to conduct ________. a. summation strategiesb. satellite businessesc. core valuesd. core business processese. core technologiesAnswer d16. With respec t to core business processes, all the activities involved in gathering market intelligence, disseminating it within the shaping, and acting on the information is referred to as the ________. a. market sensing processb. market research processc. target marketing processd. market rhythm processe. deployment processAnswer a17. With respect to the core business processes, all the activities involved in researching, developing, and launching new high-quality offerings quickly and within cipher are referred to as the ________. a. new product processb. new offering realization processc. product development processd. product launch processe. return on investment processAnswer b18. With respect to the core business processes, the ________ is considered to be all the activities involved in defining target markets and prospecting for new customers. a. customer acquisition processb. customer relationship management processc. fulfillment management processd. customer prospecting processe. cu stomer fair play processAnswer a19. A good way to describe the ________ would be discuss all the activities involved in building deeper understanding, relationships, and offerings to individual customers. a. customer acquisition processb. customer relationship management processc. customer prospecting processd. customer fulfillment management processe. customer equity processAnswer b20. Another way to describe a value delivery network ( retainering with specific suppliers and distributors) is to call it a ________. a. teamwork groupb. cabalc. home(prenominal) power centerd. link to relationshipse. supply chainAnswer e21. The key to utilizing organizational core competencies is to ________ that make up the essence of the business. a. make the competencies net for themselvesb. own all intermediaries who come in contact with your goods and services c. own and nurture the resources and competenciesd. emphasize global promotionse. segment workforcesAnswer c22. We can utter that a ___ _____ has three characteristics (1) It is a source of competitive good in that it makes a significant contribution to perceived customer benefits, (2) it has applications in a big variety of markets, and (3) it is difficult for competitors to imitate. a. core competencyb. business strategyc. core technologyd. strategic business unite. winning strategyAnswer a23. Core competencies tend to refer to areas of special technical and production expertise, where ________ tend to describe excellence in broader business processes. a. process benchmarksb. distinctive capabilitiesc. core business valuesd. value statementse. mission statementsAnswer b24. George Day sees market-driven organizations as excelling in three distinctive capabilities ________, customer linking, and channel bonding. a. target marketingb. market researchc. fulfilling customer needsd. market sensinge. customer service relationshipsAnswer d25. Competitors find it hard to imitate companies such as southwest Airlines, Del l, or IKEA because they are unable to copy their ________. a. product innovationsb. distribution strategyc. pricing policiesd. activity systemse. logistics systemAnswer d26. One conception of holistic marketing views it as integrating the value exploration, ________, and value delivery activities with the purpose of building long-term, mutually satisfying relationship and co-prosperity among key stakeholders. a. value creationb. value propositionc. value managementd. value researche. value chainAnswer a27. Holistic marketers achieve profitable growth by expanding customer shell out, ________, and capturing customer lifetime value. a. undermining competitive competenciesb. building customer loyaltyc. milking the market for product desiresd. renewing a customer basee. inspecting all market share dataAnswer b28. The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions? a. Value claimshow does the alliance deal with value erosion? b. Value propositionhow can value propositions be made profitable? c. Value chainare there washed-out links in the companys value chain d. Value networkhow can a company effectively network? e. Value explorationhow can a company identify new value opportunities? Answer e29. The customers ________ reflects existing and latent needs and includes dimensions such as the need for participation, stability, freedom, and change. a. competence setb. resource spacec. emotional spaced. relationship spacee. cognitive spaceAnswer e30. The companies ________ can be described in terms of breadthbroad versusfocused scope of business and depthphysical versus knowledge- found capabilities. a. business missionb. core strategyc. cognitive spaced. competency spacee. resource spaceAnswer d31. The collaborators ________ involves even partnerships, where companies choose partners based on their ability to cultivate related market opportunities, and vertical partnership, where companies choose partners based on their ability to serve their value creation. a. resource spaceb. competency spacec. cognitive spaced. rational spacee. service spaceAnswer a32. Business realignment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process? a. Reviewing all macro relationships.b. Reviewing global outreach projections.c. Redefining the business concept (the big idea). d. Reviewing successes from e-commerce (if any).e. Revamping the ethics statement.Answer c33. ________ allows the company to grip who its customers are, how they behave, and what they need or want. It also enables the company to respond appropriately, coherently, and quickly to different customer opportunities. a. Network managementb. strategic managementc. Marketing managementd. node relationship managemente. Total quality managementAnswer d34. To respond effectively and provide value delivery, the companyrequires ________ to integra te major business processes (e.g., grade processing, general ledger, payroll, and production) within a single family of software modules. a. human resource managementb. internal auditing managementc. internal resource managementd. strategic managemente. marketing managementAnswer c35. With respect to value delivery, ________ allows the company to handle complex relationships with its trading partners to source, process, and deliver products. a. a value matrixb. a global distribution policyc. a business development strategyd. business partnership managemente. total quality managementAnswer d36. Successful marketing requires having capabilities such as understanding ________, creating customer value, delivering customer value, capturing customer value, and sustaining customer value. a. customer loyaltyb. customer perc. customer retentiond. customer valuee. customer benefitsAnswer d37. According to a McKinsey research study, which of the following is one of the main challenges that ma rketing must face in the twenty-first century? a. The threat of ethics-based lawsuits.b. Doing more with less.c. Hostile takeover attempts.d. Increasing control by big government.e. Being independent of the distribution process.Answer b38. Strategic broadcastning in the twenty-first century calls for action in threekey areas. Which of these key areas deals specifically with devising a long-term game plan for achieving long-run objectives? a. Creating a viable business opportunity.b. Producing a strategic fit.c. Developing an investment portfolio.d. Expanding core competencies.e. Establishing a strategy.Answer e39. Most large companies dwell of four organizational levels the ________, the division level, the business unit level, and the product level. a. board of director levelb. major stakeholder levelc. management team leveld. bodily levele. strategic levelAnswer d40. The ________ is the central instrument for directing and coordinating the marketing effort. a. strategic planb. m arketing planc. tactical pland. customer value statemente. corporate missionAnswer b41. The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities. a. organizational planb. strategic marketing planc. corporate tactical pland. corporate missione. customer value statementAnswer b42. In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features, pro motion, merchandising, pricing, sales channels, and serviceareas. a. The tactical marketing plan.b. The target marketing plan.c. The deployment plan.d. The product launch plan.e. The product development plan.Answer a43. If you wanted to find out more slightly target markets and the organizations value proposition, which of the following types of plans would most likely contain information that might be useful to you in your quest? a. The marketing plan.b. The organ izational plan.c. The strategic marketing plan.d. The tactical marketing plan.e. The marketing mix plan.Answer c44. The ________ process consists of corporate, division, business, and product planning. a. implementingb. controllingc. innovationd. planninge. competitiveAnswer d45. All corporate headquarters undertake four planning activities, the first of which is ________. a. defining the corporate missionb. establishing strategic business units and assigning resources (SBUs) c. assigning resources to each SBUd. assessing growth opportunitiese. understanding target marketsAnswer a46. A clear, thoughtful mission statement provides employees with a shared sense of purpose, direction, and ________. a. gainfulnessb. target market feasibilityc. opportunityd. continuous improvemente. quality productsAnswer c47. Mission statements are at their best when they reflect a ________. a. marketb. strengthc. competencyd. visione. valueAnswer d48. Which of the following terms matches to the phras e it is a single business or ingathering of related businesses that can be planned separately from the rest of the company? a. Strategic business unit.b. Diverse business unit.c. Growth business unit.d. Niche market unit.e. Specialized business unit.Answer a49. Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies. a. concentricb. conglomeratec. horizontald. intensive growthe. integrative growthAnswer d50. A(n) ________ is when a company might seek new businesses that have no relationship to its latest technology, products, or markets. a. concentric strategyb. conglomerate strategyc. horizontal strategyd. intensive growth strategye. integrative strategyAnswer b51. Which of the following terms most closely matches to the sharedexperiences, stories, beliefs, and norms that characterize an organization? a. Organizational dynamics.b. A business mission.c. An ethical/value statement.d. Customer relationships.e. Corporate culture.Answer e52. The first step in the business unit strategic-planning process deals with which of the following? a. Goal formulation.b. Business mission.c. Strategy formulation.d. Program formulation.e. SWOT analysis.Answer b53. When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment it is referred to as a ________. a. defined strategyb. focused strategyc. value-added strategyd. competitive advantage strategye. customer-focused strategyAnswer b54. If a firm pursues a ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution. a. differentiationb. overall cost leadershipc. focusd. domestic customer relationshipe. market shareAnswer b55. To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage partnerships as core skills. This is called ____ ____. a. value managed partnershipb. synergistic partnershipc. centralized partnershipd. partner relationship managemente. win-win relationship managementAnswer d56. Traditionally, most businesses focused on stockholders. Today, the focus is on what are called ________. a. stakeholdersb. partnersc. regulatorsd. consumer triadse. supply-chain relationshipsAnswer a57. A ________ is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives. a. strategic planb. marketing planc. sales pland. target market plane. competitive analysis planAnswer b58. Which of the following permits senior management to grasp the marketing plans major thrust? a. The situation analysis.b. The marketing strategy.c. The executive summary and table of contents.d. Financial projections.e. Implementation and controls.Answer c59. Most marketing plans cover ________.a. one yearb. two yearsc. three yearsd. four yearse. fiv e yearsAnswer a60. The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficientcompetitive analysis, and a ________ focus. a. long-termb. profitc. short-rund. producte. priceAnswer c