Question 1

The Boston Consulting Group matrix evaluates each of its strategic business units based on how fast the unit is growing compared to the industry in which it competes and:

Accepted Answer

A)  how much revenue the unit is forecasted to gross.
B)  how the unit's share of the market compares to the market share of its competitors.
C)  how the unit's competitors market their products.
D)  how much advertising will cost the unit.
E)  how many strengths and opportunities were in the unit's SWOT analysis.F) A) and D)
G) None of the above

Question 2

Which of the following processes helps an organization allocate its resources under different conditions to accomplish its objectives,deliver value,and be competitive in a market-driven economy?

Accepted Answer

A)  Corporate planning
B)  Strategic planning
C)  Business planning
D)  Market forecasting
E)  Business forecastingF) A) and C)
G) B) and E)

Question 3

The success sequence involves taking money from _____ and investing it into _____ in hopes of them becoming _____.

Accepted Answer

A)  cash cows; question marks; dogs
B)  cash cows; question marks; stars
C)  dogs; question marks; stars
D)  dogs; cash cows; stars
E)  question marks; stars; cash cowsF) B) and C)
G) A) and C)

Question 4

A skincare company has decided to market its lotion to older women in addition to its current youth female market.This company is utilizing a _____ strategy.

Accepted Answer

A)  market-penetration
B)  product-development
C)  market-development
D)  diversification
E)  downsizingF) None of the above
G) A) and E)

Question 5

Goodyear's strategic business units are set up to satisfy customers' needs:

Accepted Answer

A)  in different worldwide markets.
B)  in different automotive categories.
C)  through market penetration.
D)  in different product categories.
E)  through value segmentation.F) B) and C)
G) C) and E)

Question 6

A market-penetration strategy involves selling more of existing products and services to existing customers.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following refers to a cash cow?

Accepted Answer

A)  A product with high growth and a high market share.
B)  A product with a long-term future.
C)  A product with low growth and a low market share.
D)  A product with low growth and a high market share.
E)  A product with high growth and a low market share.F) B) and C)
G) A) and E)

Question 8

A well-developed value proposition:

Accepted Answer

A)  focuses on the external market,or what customers want.
B)  conveys the firm's profits.
C)  focuses on the supply chain's benefits.
D)  increases product development.
E)  differentiates from buyers in the market.F) A) and B)
G) D) and E)

Question 9

_____ are internal factors that are somewhat controllable and can be utilized by the company to create a competitive advantage.

Accepted Answer

The answer of _____ are internal factors that are somewhat...

Question 10

The economy,competitors,and government regulations that could affect what the firm wants to do are part of the _____.

Accepted Answer

external e...

Question 11

A business plan is a strategic plan at the functional level that provides a firm's marketing group with direction.

Accepted Answer

A) True 
 B)False

Question 12

A cookie company has decided to add a brownie product line to their inventory.Which of the following strategies is being employed by this company?

Accepted Answer

A)  Market-penetration
B)  Product-development
C)  Market-development
D)  Diversification
E)  DownsizingF) All of the above
G) B) and C)

Question 13

The group of customers toward which an organization directs its marketing efforts is known as the _____.

Accepted Answer

A)  constituency
B)  target market
C)  direct market
D)  value group
E)  key marketF) All of the above
G) B) and C)

Question 14

John is offering his customers a special promotion for t-shirts: buy one,get the second one for a discount of 50%.Which of the following strategies is John utilizing?

Accepted Answer

A)  Market-penetration
B)  Product-development
C)  Market-development
D)  Diversification
E)  DownsizingF) B) and E)
G) A) and E)

Question 15

A _____ strategy involves selling more of existing products and services to existing customers.

Accepted Answer

A)  market-penetration
B)  product-development
C)  market-development
D)  diversification
E)  downsizingF) A) and B)
G) A) and D)

Question 16

Selling a product to buyers abroad is known as _____.

Accepted Answer

The answer of Selling a product to buyers abroad is...

Question 17

A value proposition is utilized not only by firms,but also by individuals.

Accepted Answer

A) True 
 B)False

Question 18

The _____ is a portfolio-planning approach that examines a business's strengths and the attractiveness of industries.

Accepted Answer

General El...

Question 19

Opportunities and threats are internal to the organization and are largely uncontrollable.

Accepted Answer

A) True 
 B)False

Question 20

An auto company decided to downsize a current vehicle model into a smaller SUV.This is known as utilizing a _____ strategy.

Accepted Answer

The answer of An auto company decided to downsize a...

Exam 2: Strategic Planning

An auto company decided to downsize a current vehicle model into a smaller SUV.This is known as utilizing a _____ strategy.

Correct AnswerverifiedShow Answer

Which of the following processes helps an organization allocate its resources under different conditions to accomplish its objectives,deliver value,and be competitive in a market-driven economy?

Correct AnswerverifiedShow Answer

Goodyear's strategic business units are set up to satisfy customers' needs:

Correct AnswerverifiedShow Answer

A _____ strategy involves selling more of existing products and services to existing customers.

Correct AnswerverifiedShow Answer

A cookie company has decided to add a brownie product line to their inventory.Which of the following strategies is being employed by this company?

Correct AnswerverifiedShow Answer

The Boston Consulting Group matrix evaluates each of its strategic business units based on how fast the unit is growing compared to the industry in which it competes and:

Correct AnswerverifiedShow Answer

Selling a product to buyers abroad is known as _____.

Correct AnswerverifiedShow Answer

The group of customers toward which an organization directs its marketing efforts is known as the _____.

Correct AnswerverifiedShow Answer

The _____ is a portfolio-planning approach that examines a business's strengths and the attractiveness of industries.

Correct AnswerverifiedGeneral El...View AnswerShow Answer

_____ are internal factors that are somewhat controllable and can be utilized by the company to create a competitive advantage.

Correct AnswerverifiedShow Answer

A market-penetration strategy involves selling more of existing products and services to existing customers.

Correct AnswerverifiedShow Answer

A well-developed value proposition:

Correct AnswerverifiedShow Answer

The success sequence involves taking money from _____ and investing it into _____ in hopes of them becoming _____.

Correct AnswerverifiedShow Answer

A value proposition is utilized not only by firms,but also by individuals.

Correct AnswerverifiedShow Answer

John is offering his customers a special promotion for t-shirts: buy one,get the second one for a discount of 50%.Which of the following strategies is John utilizing?

Correct AnswerverifiedShow Answer

Opportunities and threats are internal to the organization and are largely uncontrollable.

Correct AnswerverifiedShow Answer

Which of the following refers to a cash cow?

Correct AnswerverifiedShow Answer

A skincare company has decided to market its lotion to older women in addition to its current youth female market.This company is utilizing a _____ strategy.

Correct AnswerverifiedShow Answer

The economy,competitors,and government regulations that could affect what the firm wants to do are part of the _____.

Correct Answerverifiedexternal e...View AnswerShow Answer

A business plan is a strategic plan at the functional level that provides a firm's marketing group with direction.

Correct AnswerverifiedShow Answer

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General El...
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The success sequence involves taking money from ___ and investing it into _ in hopes of them becoming ___.

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external e...
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