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99. Revel Inc., a cell phone manufacturer, decides to launch its new line of smartphones on the company’s official website
to resolve logistics issues that the company has identified. With this modification, its customers can now buy the
smartphones even if they are not available in retail locations near potential consumers. In this case, Revel Inc. focuses on
the _____ element of the marketing mix.
a. evaluation
b. promotion
c. price
d. distribution
100. Which of the following defines the key goal of an SBU that is a very successful cash cow?
a. Hold
b. Build
c. Harvest
d. Divest
101. The thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the
marketing organization is called ________.
a. the marketing audit
b. evaluation and control
c. post-audit tasks
d. post-implementation audit
102. A premise of the Boston Consulting Group model states which of the following?
a. Diversification strategies can be risky when firms enter unfamiliar markets, even with little or no competition in
those markets segments.
b. The cash generated from cash cows should be allotted to SBUs considered to be question marks and dogs, instead
of stars.
c. Management must find a balance among the SBUs that yields the overall organization’s desired growth and
profits with an acceptable level of risk.
d. Companies must rely on new, unfamiliar assets to develop the type of breakthrough decisions that would
determine their sustainability in the future.
103. Which of the following statements is true of a niche strategy?
a. Only large companies can implement a niche strategy.
b. Companies that adopt a niche strategy target a single market segment.
c. Only companies that do not have competitors can adopt a niche strategy.
d. Companies that adopt a niche strategy can only gain a price advantage over competitors.
104. Which of the following strategies in the marketing mix aims at bringing about mutually satisfying exchanges with
target markets by informing, educating, persuading, and reminding them of the benefits of an organization or a product?
a. Promotion strategies
b. Distribution strategies
c. Pricing strategies
d. Product strategies
105. Rues and West Bros., an ammunition manufacturer, defines its mission statement as being in the ammunition-
production business rather than in the arms industry. In the given scenario, Rues and West Bros. is exhibiting _____.
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a. marketing inertia
b. marketing myopia
c. marketing dissonance
d. marketing blockage
106. Which of the following is an element of a marketing mix?
a. Pricing strategies
b. Divestment strategies
c. Investment strategies
d. Trade restraint strategies
107. The collection and interpretation of data about forces, events, and relationships in the external environment that may
affect the organization’s future or its marketing plan implementation is called:
a. SWOT analysis.
b. environmental scanning.
c. competitive advantage.
d. cost competitive advantage.
108. Tropical Horizons has opened spas in Thailand, Indonesia, and Malaysia and is aggressively expanding into countries
around the Mediterranean. This illustrates which of the following strategies of Ansoff’s strategic opportunity matrix?
a. Market penetration
b. Market development
c. Product development
d. Diversification
109. The basic goal of ________ is to increase the short-term cash return without too much concern for the long-run
impact.
a. harvesting
b. holding
c. building
d. divesting
110. Which of the following practices can help businesses gain a cost competitive advantage?
a. Using simplified production techniques
b. Using expensive raw materials
c. Customizing products with extra features
d. Focusing on serving marginal customers
111. Which of the following processes provides the mechanisms for evaluating marketing results in light of the plan’s
objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines?
a. Implementation
b. Evaluation
c. Control
d. Marketing audit
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112. Marketers at Libra Electronics Inc. are developing promotional strategies to increase product sales. In this case,
which of the following strategies would its marketers likely use to improve product/brand awareness among the public?
a. They would limit the products’ availability to a few retail stores in the city.
b. They would raise the prices of the products to signify high quality.
c. They would reduce product features or options.
d. They would print pamphlets that elaborate the products’ features.
113. Which of the following is NOT a characteristic of marketing audit?
a. It is a comprehensive process.
b. It is a systematic process.
c. It is an objective process.
d. It is an infrequent process.
114. The price component of a marketing mix is:
a. a competitive weapon for companies.
b. the basis for achieving a product differentiation advantage.
c. the starting point of the marketing mix.
d. the least flexible element of the marketing mix.
115. Which statement is true of implementing a task force?
a. Authority is equally vested in each of its members.
b. A task force is established to accomplish a single goal or mission.
c. It works independently of a specific deadline.
d. It is primarily used for strategic planning rather than for implementing marketing plans.
116. Explain what is meant by SWOT analysis.
117. Discuss the process of implementing a marketing plan.
118. What is a mission statement, and how should a firm define its business mission? Give examples to illustrate the
components of a good mission statement.
119. Describe the nature of strategic planning.
120. Define the characteristics of strategic business units (SBUs).
121. Discuss product strategies and pricing strategies in the context of the marketing mix.
122. Discuss the market penetration strategy of Ansoff’s strategic opportunity matrix, and provide examples of how
companies implement this strategy.
123. Discuss the process of market opportunity analysis.
124. Discuss how to make strategic planning effective.
125. Discuss the three types of competitive advantages.
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126. Discuss the general strategies for selecting target markets.
127. Discuss the factors that make marketing objectives effective.
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Answer Key
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