61. According to your text, which of the following is a reason why the use of licensing to enter international markets has
increased significantly in recent years?
A. longer product life cycles
B. increased viewership of sporting events
62. Which of the following is a risk of licensing in an international market?
63. For a fee, Hadad can open a Subway shop in his hometown of Beirut. The parent company has agreed to let Hadad use its
company name and will give him marketing and operational support. What type of arrangement is this?
A. joint venture
B. contract manufacturing
64. Why is franchising an attractive method of entering a foreign market?
A. because there are very few risks involved in franchising
B. because the franchisor has no liability if the business fails
65. An arrangement in which a domestic firm partners with a foreign company to create a new entity, thus allowing the domestic
firm to enter the foreign company‘s market, is known as
66. Compare each of the following to determine which one accurately describes a joint venture.
67. Which method of entering a foreign market has a domestic firm actively managing a foreign company or overseas facility?
A. joint venture
B. licensing
68. Which method of entering a foreign market carries with it the most risk?
69. When a big name retailer decides to open a manufacturing plant overseas, this is an example of
70. Which form of entering a foreign market requires the greatest commitment?
A. exporting
B. licensing
71. Review the following statements to determine which one is not accurate regarding the direct ownership method of entering a
foreign market.
72. The practice of measuring, managing, and analyzing marketing performance is referred to as
73. The measure of a firm’s effectiveness in using the resources allocated to its marketing effort is called
74. Marketing expenditures are used in calculating
75. Which of the following analytics is a measure of actual revenue relative to the objectives of the organization?
76. What measure allows marketers to analyze the success of specific products and regions to pinpoint what is working and
what is not?
A. gross margin
B. profit margin
77. Daryl recently took a marketing job with a new firm. His first order of business is to find out how his new company performs
relative to its competitors. Which of the following would Daryl use to do this?
78. Which marketing analytics tool is used to measure the percentage of total market sales captured by a brand, product, or
firm?
79. To be most effective, market share data should be analyzed
A. along with historical sales data.
B. relative to marketing expenditures.
80. What term is used for the positive gain from a business operation after all of the expenses have been subtracted?
81. The measure of how much profit the firm generates as well as how much profit certain aspects of the firm, including regions,
channels, and customer segments, contribute is referred to as
82. What two important metrics do marketers use to evaluate profitability?
A. gross margin and marketing expenditures
B. customer acquisition and continuing sales to established customers
83. The process of thoughtfully defining a firm’s objectives and developing a method for achieving those objectives is referred to
as _____ _____.
84. In order to ensure marketers will select and execute the right marketing mix strategies to maximize success, they should
engage in the process of _____ _____.
85. A firm in the process of developing a _____ _____might ask these questions: What is our business? Who is our customer?
What is our value to the customer? and What should our business be?
86. A good _____ _____ should be focused on a limited number of goals, be customer-oriented, and capture a shared purpose
and provide information for the employees of the firm.
87. A mission statement should be oriented toward the ______.
88. The primary strategic planning tool for guiding the firm’s marketing strategy is the _____ plan.
02–30
Learning Objective: 02-03 Outline the five main components of the marketing plan.
Topic: The Marketing Plan
89. An action-oriented document or playbook that guides the analysis, implementation, and control of the firm’s marketing
strategy is called the _____ _____.
90. While the specific format of the marketing plan differs from organization to organization, most plans include _____
components that communicate what the organization desires to accomplish and how it plans to achieve its goals.
91. The key component of the marketing plan that summarizes the plan’s main points is called the _____ _____.
92. The three subsections of the ______ ______ are a market summary, SWOT analysis, and a competition analysis.
93. A firm looking to describe the current state of the market is most likely developing a _____ _____.
94. The _____ _____component of the marketing plan lists the actions the firm must take to accomplish the marketing
objectives it established in its mission statement and strategic planning process.
95. A(n) _____ _____ analysis combines the data provided in the sales and expense forecasts to estimate how much the
company needs to sell to cover its expenses.
02–32
Topic: Break-Even Analysis
96. An estimate of the costs the company will incur to create, communicate, and deliver the product is outlined in the _______
forecast.
97. No matter how good the marketing plan is, it is of no value unless the company is successful at ________ the plan.
98. _______ planning defines the actions the company will take if the initial marketing strategy does not achieve results.
99. On the BCG Matrix, _____ _____ are products that have a large market share in an industry with low growth rates.
02–33
Difficulty: 1 Easy
Learning Objective: 02-04 Explain three tools and techniques for the situation analysis: market summary, SWOT analysis, and competition analysis.
Topic: The BCG Matrix
100. On the BCG Matrix, _____ _____ are products that have a low market share in an industry with high growth rates.
101. Calvin is considering opening a late-night pizza parlor on the local college campus. His SWOT analysis reveals that
students want more late-night options for dining. This represents a(n) _______ in the SWOT analysis.
102. In a SWOT analysis, threats are an _______ consideration. (internal/external)
103. A quality marketing objective should have three basic characteristics. It should be specific, measurable, and ________.
104. The group of customers toward which an organization has decided to direct its marketing efforts is known as the _______
market.
105. _______ refers to the activities a firm undertakes to create a certain perception of its product in the eyes of the target
market.
106. A marketing strategy that emphasizes selling more of existing goods and services to existing customers is a _____
_____strategy.