Question 1

Why might an overly narrow mission statement be problematic? ​

Accepted Answer

A)   ​It makes it harder to identify the strengths of the firm.
B)   ​It could cause firms to pursue strategies where their strengths are limited.
C)   ​It makes it harder to develop measurable objectives.
D)   ​It could cause the firm to miss out on new opportunities.
E)   ​It could make it difficult for a firm to select a target market.F) None of the above
G) All of the above

Question 2

Which of the following IS NOT a purpose of a marketing plan?

Accepted Answer

A)   It explains the present and future situations of the organization.
B)   It specifies the expected outcomes of the plan.
C)   It describes specific actions that are to take place.
D)   It explains how marketing activities mesh with other functional areas.
E)   It identifies resources needed to carry out the plan.F) A) and E)
G) B) and D)

Question 3

The most pressing concern for the success of a marketing plan is identifying needed resources.

Accepted Answer

A) True 
 B)False

Question 4

In a marketing plan, the executive summary should be a complete but concise overview of the entire marketing plan because:

Accepted Answer

A)   the executive summary is the most important part of the plan.
B)   the executive summary is the first part of the marketing plan to be written.
C)   most readers of a marketing plan are busy and value condensed information.
D)   the executive summary is the least read part of the marketing plan.
E)   the executive summary does not provide any quantitative information.F) A) and B)
G) A) and C)

Question 5

Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation, nothing gets accomplished and customers do not receive desired benefits."

Accepted Answer

It is difficult to contradict this state...

Question 6

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.

Accepted Answer

A) True 
 B)False

Question 7

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

Accepted Answer

A)   focus.
B)   strategic fit.
C)   stability.
D)   profitability.
E)   width.F) A) and E)
G) A) and D)

Question 8

The marketing planning process typically requires the coordination of __________ at the top of the corporate hierarchy with more __________ at the bottom.

Accepted Answer

A)   ​broad-based decisions; narrowly defined actions
B)   ​planning actions; broad-based decisions
C)   large-scale activities; broad decisions
D)   ​important decisions; complex decisions
E)   ​implementation activities; narrowly defined decisionsF) B) and C)
G) A) and D)

Question 9

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

Accepted Answer

A)   efficiency and quality
B)   selling products to customers
C)   marketing research
D)   growth and corporate profits
E)   new product developmentF) None of the above
G) A) and D)

Question 10

Profit would be an example of a(n)  __________.

Accepted Answer

A)   ​mission statement
B)   ​strategy
C)   ​goal or objective
D)   strength
E)   ​operating philosophyF) B) and C)
G) C) and E)

Question 11

When approving the marketing plan, which of the following questions will a top manager ask?

Accepted Answer

A)   ​What are our responsibilities with respect to being a good steward of our human, financial, and environmental resources?
B)   ​How will this marketing plan serve to define the organization as a whole?
C)   Will the proposed marketing plan achieve the desired marketing, business unit, and corporate goals and objectives?
D)   ​What are the types of controls we will use to measure the success of the proposed marketing plan?
E)   ​How will this marketing plan impact the company's reputation among stakeholders?F) B) and D)
G) A) and C)

Question 12

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.

Accepted Answer

A)   SWOT analysis
B)   evaluation and control
C)   executive summary
D)   marketing implementation
E)   situation analysisF) B) and D)
G) C) and D)

Question 13

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following IS NOT one of these perspectives?

Accepted Answer

A)   financial perspective
B)   customer perspective
C)   vision and strategy perspective
D)   learning and growth perspective
E)   internal process perspectiveF) B) and C)
G) B) and D)

Question 14

A vision statement answers which of the following statements?

Accepted Answer

A)   What business are we in?
B)   What are our goals?
C)   How can we serve our target markets?
D)   What do we want to become?
E)   Which is our market position?F) D) and E)
G) A) and B)

Question 15

With respect to developing a marketing plan, what does it mean for a marketing plan outline to be consistent?

Accepted Answer

A)   The outline should be sufficient to ensure that information is not omitted.
B)   The outline should have the ability to be modified to fit the situation.
C)   The outline should flow in a logical manner.
D)   The outline should have some connection to other functional area plans.
E)   The outline should be consistent across firms in the same industry.F) A) and B)
G) A) and D)

Question 16

Motorola 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.

Accepted Answer

A)   evaluation and control
B)   marketing strategy
C)   marketing implementation
D)   SWOT analysis
E)   goals and objectivesF) A) and D)
G) A) and B)

Question 17

Which of the following is part of a company's internal market? ​

Accepted Answer

A)   ​customers
B)   ​suppliers
C)   ​regulators
D)   ​employees
E)   ​investorsF) A) and D)
G) A) and C)

Question 18

In today's business environment, firms that truly focus on customers instill a corporate culture that places customers and other stakeholders at the top of the organizational hierarchy. When this occurs, the firm shifts its focus from transactions to __________, and from __________ to collaboration.

Accepted Answer

A)   market share; competition
B)   information; rivalry
C)   relationships; competition
D)   value; cooperation
E)   long-range planning; contractsF) C) and D)
G) C) and E)

Exam 2: Strategic Marketing Planning

Motorola 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.

Correct Answer
verified

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.

Correct Answer
verified

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following IS NOT one of these perspectives?

Correct Answer
verified

Profit would be an example of a(n) __________.

Correct Answer
verified

A vision statement answers which of the following statements?

Correct Answer
verified

Which of the following IS NOT a purpose of a marketing plan?

Correct Answer
verified

Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation, nothing gets accomplished and customers do not receive desired benefits."

Correct Answer
verified
It is difficult to contradict this state...
View Answer

Why might an overly narrow mission statement be problematic?

Correct Answer
verified

In today's business environment, firms that truly focus on customers instill a corporate culture that places customers and other stakeholders at the top of the organizational hierarchy. When this occurs, the firm shifts its focus from transactions to , and from to collaboration.

Correct Answer
verified

The most pressing concern for the success of a marketing plan is identifying needed resources.

Correct Answer
verified

When approving the marketing plan, which of the following questions will a top manager ask?

Correct Answer
verified

In a marketing plan, the executive summary should be a complete but concise overview of the entire marketing plan because:

Correct Answer
verified

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.

Correct Answer
verified

Which of the following is part of a company's internal market?

Correct Answer
verified

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

Correct Answer
verified

The marketing planning process typically requires the coordination of at the top of the corporate hierarchy with more at the bottom.

Correct Answer
verified

With respect to developing a marketing plan, what does it mean for a marketing plan outline to be consistent?

Correct Answer
verified

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20^th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

Correct Answer
verified

Exam 2: Strategic Marketing Planning

Motorola 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.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following IS NOT one of these perspectives?

Correct AnswerverifiedShow Answer

Profit would be an example of a(n) __________.

Correct AnswerverifiedShow Answer

A vision statement answers which of the following statements?

Correct AnswerverifiedShow Answer

Which of the following IS NOT a purpose of a marketing plan?

Correct AnswerverifiedShow Answer

Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation, nothing gets accomplished and customers do not receive desired benefits."

Correct AnswerverifiedIt is difficult to contradict this state...View AnswerShow Answer

Why might an overly narrow mission statement be problematic? ​

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The most pressing concern for the success of a marketing plan is identifying needed resources.

Correct AnswerverifiedShow Answer

When approving the marketing plan, which of the following questions will a top manager ask?

Correct AnswerverifiedShow Answer

In a marketing plan, the executive summary should be a complete but concise overview of the entire marketing plan because:

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Which of the following is part of a company's internal market? ​

Correct AnswerverifiedShow Answer

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

Correct AnswerverifiedShow Answer

The marketing planning process typically requires the coordination of __________ at the top of the corporate hierarchy with more __________ at the bottom.

Correct AnswerverifiedShow Answer

With respect to developing a marketing plan, what does it mean for a marketing plan outline to be consistent?

Correct AnswerverifiedShow Answer

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
It is difficult to contradict this state...
View Answer

Why might an overly narrow mission statement be problematic?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Which of the following is part of a company's internal market?

Correct Answer
verified

Correct Answer
verified

The marketing planning process typically requires the coordination of at the top of the corporate hierarchy with more at the bottom.

Correct Answer
verified

Correct Answer
verified

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20^th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

Correct Answer
verified