B116 - Ch.3 Flashcards
The analysis, planning, implementation, evaluation, and control of marketing initiatives is known as the corporate planning process.
Select one:
True
False
False
“To be the world’s most reliable airline offering top-quality in-flight services consistently” is an example of an airline’s corporate strategy.
Select one:
True
False
False
With the unexpected downturn in the economy, the marketing executives at Refined Family Restaurants Inc. will need to adapt quickly and make changes to the company’s
Select one:
a.
contingency plan.
b.
vision statement.
c.
mission statement.
d.
marketing plan.
e.
marketing strategy.
d.
marketing plan.
“A free Honda Accord will be given away to the winner of the in-store draw. The draw will be held on October 21, 2018. The cost of the promotion will be $150,000. It will be the responsibility of the product manager to pull the program together.” This is an example of an execution of a marketing plan.
Select one:
True
False
True
A company’s decision to market a new cereal to an untapped market segment is an example of
Select one:
a.
becoming more aggressive in current markets.
b.
entering new markets with existing products.
c.
gaining control over the channel of distribution.
d.
diversifying into new markets.
e.
developing new products for current markets.
d.
diversifying into new markets.
A snowboard manufacturer is looking to enter the apparel segment of the snowboarding market. The strategy that will allow the company to enter the market most quickly is the divestment strategy.
Select one:
True
False
False
In a typical business plan, the long term is ________ while the short term is ________.
Select one:
a.
5 years; 1 year
b.
1 year; 1/2 year
c.
3 years; 1/2 year
d.
5 years; 1/2 year
e.
2 years; 1 year
a.
5 years; 1 year
The result of a SWOT analysis should be matching potential opportunities with resource capabilities.
Select one:
True
False
True
All members of a target market have similar demographic characteristics.
Select one:
True
False
False
Which of the following areas are not covered by the marketing plan?
Select one:
a.
product strategies
b.
pricing strategies
c.
distribution strategies
d.
human resources and recruitment strategies
e.
marketing communications strategies
d.
human resources and recruitment strategies
Which of the following would be an external influence of importance to marketing planning for a company specializing in educational toys and books for children aged 2–8?
Select one:
a.
an increase in home schooling for primary school-aged students
b.
a decline in sales over the last two quarters
c.
the popularity of the company’s learning tips newsletter
d.
the growing importance of the company’s e-store
e.
the impact of the company’s introduction of a new book series
a.
an increase in home schooling for primary school-aged students
Your president has asked you for a ________ to be implemented in response to an unexpected U.S. competitor launching in the Canadian market.
Select one:
a.
divestment plan
b.
corporate plan
c.
mission statement
d.
secondary plan
e.
contingency plan
e.
contingency plan
Specific and detailed action plans are referred to as tactics.
Select one:
True
False
True
Marketing plans tend to be short term in nature and specific in scope.
Select one:
True
False
True
What kind of strategy did Oreo employ when it launched four new varieties: chocolate crème, mint crème, peanut butter, and golden?
Select one:
a.
diversifying into new markets
b.
divesting
c.
entering new markets with existing products
d.
horizontal integration
e.
developing new products for current markets
e.
developing new products for current markets
The specific details on how a strategy will be implemented is called
Select one:
a.
an objective.
b.
a policy.
c.
a tactic.
d.
a procedure.
e.
a plan.
c.
a tactic.
Which of the following is not true about the marketing plan?
Select one:
a.
It is a document that outlines direction and activities of an organization, product, or service.
b.
It involves many aspects of the organization, from HR to operations, in addition to marketing.
c.
It involves objectives, strategies, and tactics (execution).
d.
It typically involves product, price, distribution, and marketing communications.
e.
These plans are typically created annually.
b.
It involves many aspects of the organization, from HR to operations, in addition to marketing.
Innovative Systems Inc.’s strategic control review process will be conducted
Select one:
a.
every three to five years.
b.
bi-annually.
c.
quarterly.
d.
annually.
e.
semi-annually.
a.
every three to five years.
A marketing tactic is a specific action required to implement a marketing strategy.
Select one:
True
False
True
Strategic business planning involves three variables. These are
Select one:
a.
budget, objectives, and strategies.
b.
mission, strategy, and tactics.
c.
strategies, tactics, and budget.
d.
objectives, strategies, and execution or tactics.
e.
mission, objectives, and tactics.
d.
objectives, strategies, and execution or tactics.
