1. Describe the process of strategic planning. How does this process help marketing managers?
2. How does having a mission statement help an organization achieve its goals?
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
3. Differentiate between corporate strategy and marketing strategy.
4. Give a brief account of a strategic business unit (SBU).
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
5. Give a brief account of the four product categories used in the Boston Consulting Group (BCG) product-portfolio
analysis.
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
6. How does a firm use a market opportunity to reach a particular target market?
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
7. Give a brief account of a marketing strategy and the selection of an appropriate target market.
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
8. Discuss the different ways of organizing the marketing unit.
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
9. Discuss the creation of a marketing plan. What are the major components of a marketing plan?
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
10. Define strategic planning.
11. When the managers at Logistics Pro are developing their strategic plan, they use a market orientation as a guide to
ensure that _____ is an integral part of the process.
a. customer satisfaction
b. employee satisfaction
c. the best use of their marketing resources
d. the marketing mix
e. the marketing function
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
12. Inadditiontorevisingtheirorganization’smissionandgoals,themanagersatOrionCo.havetodevelopacorporate
strategy, marketing objectives, and a marketing strategy for their firm. These managers are engaged in the process
of _____.
a. benchmarking
b. strategic planning
c. marketing planning
d. marketing implementation
e. strategic outsourcing
13. After engaging in the process of identifying and analyzing a target market, Sirius Foods Corporation develops a
marketing mix to satisfy the individuals in that market to gain long-term competitive advantages. In this example,
Sirius Foods Corporation is creating a _____.
a. corporate strategy
b. target design
c. performance standard
d. marketing strategy
e. mission statement
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
14. To formulate a marketing strategy, one must _____.
a. identify and analyze a target market and develop a marketing mix to satisfy individuals in that market
b. develop a statement of what is to be accomplished through marketing activities
c. establish performance standards and evaluate actual performance by comparing it with established standards
d. determinethemeansforutilizingresourcesinthevariousfunctionalareastoreachtheorganization’sgoals
e. comparethequalityofthecompany’sgoods,services,orprocesseswiththatofitsbestperforming
competitors
15. The strategic planning process begins with:
a. the creation of a marketing mix that will satisfy the needs of a particular market.
b. the development of marketing objectives and marketing strategies.
c. an analysis of the marketing environment.
d. the selection of an appropriate target market.
e. the development of a marketing plan.
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
16. Europa Inc., a software company, has been successful in predicting what consumers anticipate in new technological
advances. The company specializes in developing special graphic design software that other companies find hard to
reproduce, thereby giving Europa Inc. a competitive advantage over its rivals. This factor of Europa Inc.
exemplifies a _____.
a. benchmark
b. value proposition
c. core competency
d. strategic vision
e. marketing opportunity
17. When the right combination of circumstances occurs at the right time to allow an organization to take action toward
a target market, the firm is faced with a _____.
a. market objective
b. market requirement
c. strategic market plan
d. market opportunity
e. corporate objective
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
18. In response to the increase in demand for organic foods, Raego Inc., a regional supermarket, recently created
organic food departments within their large stores. The creation of these departments was a result of:
a. a core competency.
b. a market opportunity.
c. thecompany’ssalesorientation.
d. thecompany’sdistributionplan.
e. a competitive advantage.
19. After observing an increase in both the number of consumers who are environmentally-conscious and the number
of consumers who are seeking vehicles that use less gasoline, several car manufacturers have developed hybrid
automobiles. This is an example of identifying and capitalizing on a _____ while the strategic window is open.
a. marketing mix
b. market opportunity
c. marketing objective
d. requirement
e. core competency
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
20. After discovering that consumers had concerns about fat and carbohydrates, Avolado’s Pizza began offering a low-
fat, low-carb pizza product. The creation of this new product was the result of:
a. a sustainable competitive advantage.
b. a well-defined mission statement.
c. a core competency.
d. a market opportunity.
e. thecompany’ssalesorientation.
21. A strategic window is:
a. the right combination of circumstances and timing that permits an organization to take action to reach a
particular target market.
b. what determines the factors that are most important in making a market attractive or strong.
c. a long-term view, or vision, of what the organization wants to become.
d. a temporary period of optimum fit between the key requirements of a market and the particular capabilities
of a firm competing in that market.
e. the process that seeks information about events and relationships in a company’s external environment.
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
22. A competitive advantage exists when a:
a. firm matches a core competency to opportunities it has discovered in the marketplace.
b. firm compares the quality of its goods, services, or processes with that of its best-performing competitors.
c. combination of circumstances and timing allows a firm to reach an attractive target market.
d. firm observes a fit between the key requirements of a market and its own capabilities.
e. firm has a strong marketing plan.
23. A _____ is created when a company matches its core competency to opportunities it has discovered in the
marketplace.
a. market opportunity
b. marketing objective
c. competitive advantage
d. strategic window
e. competitive opportunity
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
24. TroganCo.isamultinationalelectroniccommercecompany.Thecompany’spricing,service,andcustomersupport
enable it to generate more sales and retain more customers than its competition. In this scenario, what does Trogan
Co. have over its competitors?
a. A subordinate share of the market
b. A strategic window
c. Empowerment
d. A market opportunity
e. A competitive advantage
25. Theassessmentofanorganization’sstrengths,weaknesses,opportunities,andthreatsiscalled_____.
a. a SWOT analysis
b. benchmarking
c. total quality management
d. a PEST analysis
e. a portfolio analysis
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
26. Ferner Inc. is one of the largest manufacturers of agricultural machinery in the world. Ferner Inc.’s strong name
recognition and solid customer demand for its farm and garden equipment are two elements of the company’s
_____.
a. weaknesses
b. opportunities
c. strengths
d. threats
e. strategies
27. Favorable conditions in the marketplace environment that could produce business rewards for the organization if
acted upon properly are called:
a. strengths.
b. market strategies.
c. market niches.
d. threats.
e. opportunities.
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
28. Successful business organizations should take actions to convert internal weaknesses into _____.
a. strategies
b. threats
c. opportunities
d. core competencies
e. strengths
29. Galaxo Hotels, an international chain of full service hotels, aims to have at least 90 percent of its customers express
that they had memorable and satisfying experiences at the hotels. This is an example of _____.
a. implementing the marketing mix
b. maintaining corporate identity
c. a marketing objective
d. a marketing strategy
e. a mission statement
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
30. The goals of any organization should derive from its:
a. mission statement.
b. strategic plan.
c. strategic business plan.
d. marketing plan.
e. marketing strategy.
31. Anabell is willing to buy more goods from Ceres than the other retail stores because Ceres has been very
successful in designing supply systems that link existing stores with its own website. This personalizes online
shopping and provides a reliable delivery system. This unique capability that allows Ceres to achieve a competitive
advantage over its rivals is called _____.
a. empowerment
b. a core competency
c. a benchmark
d. a strategic window
e. a marketing strategy
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
32. A _____ outlines the scope of the business and such considerations as resource deployment, competitive
advantages, and overall coordination of functional areas.
a. mission statement
b. corporate strategy
c. business-unit strategy
d. marketing strategy
e. marketing mix
33. A _____ determines the means for utilizing resources in the functional areas of marketing, production, finance,
research and development, and human resources to achieve the organization’s goals.
a. corporate strategy
b. business-unit strategy
c. marketing strategy
d. mission statement
e. marketing mix
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies
34. Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and
other resources is known as a:
a. non-profit sector.
b. strategic business unit.
c. marketing program.
d. small business.
e. diversified corporation.
35. Adocell Inc., a multinational electronics company, purchased Plutolyte Co., a battery company, and now operates
this division as a separate profit center within the firm. In this example, Plutolyte Co. is a typical example of a
_____.
a. strategic business unit
b. marketing program
c. non-profit sector
d. competitor
e. core competence
Chapter 2 – Planning, Implementing, and Evaluating Marketing Strategies