MGMT 105 Exam UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Which growth strategy is designed to increase sales of existing products to current customers,
nonusers, and users of competitive brands in served markets? - CORRECT ANSWER Market
penetration strategy
A market penetration strategy is a growth strategy designed to increase sales of existing products to
current customers, nonusers, and users of competitive brands in served markets.
A market development strategy is a growth strategy that introduces existing products to new markets.
A product development strategy is a growth strategy that focuses on selling new products in existing
markets.
A diversification strategy is a growth strategy that emphasizes both new products and new markets.
According to the BCG growth-market share matrix, __________ are strategic business units (sbus)
with low market shares in fast-growth markets. - CORRECT ANSWER question marks
Supervisory managers are charged with the planning in the __________ stage. - CORRECT
ANSWER operational planning
Supervisory managers are charged with the planning in the operational planning stage.
,Top-level corporate management is responsible for strategic planning.
Top functional-level management, such as the chief marketing officer (CMO), is responsible for
functional planning.
Human Resources planning is not involved in the various of levels of planning.
Making decisions about how to best allocate resources across a company's strategic business units
(sbus) to ensure growth for the total organization occurs during which step of strategic planning? -
CORRECT ANSWER Establish the business portfolio.
Making decisions about how to best allocate resources across a company's strategic business units
(sbus) to ensure growth for the entire company occurs during the establish the business portfolio step
of strategic planning.
Evaluating the internal and external environment is the step in strategic planning in which
management performs a situation analysis.
Setting organizational or SBU objectives is the step where top management translates a mission
statement into organizational or SBU objectives.
,Developing growth strategies is the last stage in the strategic planning process and is where managers
analyze how to make growth happen.
A process that entails measuring actual performance, comparing this performance with the established
marketing objectives, and then making adjustments to the strategies or objectives on the basis of this
analysis is a(n) __________. - CORRECT ANSWER control
A process that entails measuring actual performance, comparing this performance with the established
marketing objectives, and then making adjustments to the strategies or objectives on the basis of this
analysis is a control.
An action plan is an individual support plan included in a marketing plan that provides the guidance
for implementation and control of the various marketing strategies within the plan.
An operational plan focuses on the day-to-day execution of the marketing plan.
A diversification strategy is a growth strategy that emphasizes both new products and new markets.
The __________ step in the strategic planning process is to evaluate the internal and external
environment - CORRECT ANSWER second
The first step is to define the mission.
The third step is to set organizational or SBU objectives.
, The fourth step is to establish the business portfolio
An individual support plan included in a marketing plan that provides the guidance for
implementation and control of the various marketing strategies within the plan is a(n) __________. -
CORRECT ANSWER action plan
A mission statement describes the overall purpose of the organization and what it intends to achieve in
terms of its customers, products, and resources.
A situational analysis is an assessment of a firm's internal and external environments.
A control is a process that entails measuring actual performance, comparing this performance with the
established marketing objectives, and then making adjustments to the strategies or objectives on the
basis of this analysis.
The uncontrollable elements outside an organization that may affect its performance either positively
or negatively are known as the __________. - CORRECT ANSWER external environmentthe
internal environment consists of the controllable elements inside an organization, including its people,
its facilities, and how it does things, that influence the operations of the organization.
A mission statement is a formal statement in an organization's strategic plan that describes the overall
purpose of the organization and what it intends to achieve in terms of its customers, products, and
resources.
A business portfolio is the group of different products or brands owned by an organization and
characterized by different income-generating and growth capabilities.
QUESTIONS AND CORRECT ANSWERS
Which growth strategy is designed to increase sales of existing products to current customers,
nonusers, and users of competitive brands in served markets? - CORRECT ANSWER Market
penetration strategy
A market penetration strategy is a growth strategy designed to increase sales of existing products to
current customers, nonusers, and users of competitive brands in served markets.
A market development strategy is a growth strategy that introduces existing products to new markets.
A product development strategy is a growth strategy that focuses on selling new products in existing
markets.
A diversification strategy is a growth strategy that emphasizes both new products and new markets.
According to the BCG growth-market share matrix, __________ are strategic business units (sbus)
with low market shares in fast-growth markets. - CORRECT ANSWER question marks
Supervisory managers are charged with the planning in the __________ stage. - CORRECT
ANSWER operational planning
Supervisory managers are charged with the planning in the operational planning stage.
,Top-level corporate management is responsible for strategic planning.
Top functional-level management, such as the chief marketing officer (CMO), is responsible for
functional planning.
Human Resources planning is not involved in the various of levels of planning.
Making decisions about how to best allocate resources across a company's strategic business units
(sbus) to ensure growth for the total organization occurs during which step of strategic planning? -
CORRECT ANSWER Establish the business portfolio.
Making decisions about how to best allocate resources across a company's strategic business units
(sbus) to ensure growth for the entire company occurs during the establish the business portfolio step
of strategic planning.
Evaluating the internal and external environment is the step in strategic planning in which
management performs a situation analysis.
Setting organizational or SBU objectives is the step where top management translates a mission
statement into organizational or SBU objectives.
,Developing growth strategies is the last stage in the strategic planning process and is where managers
analyze how to make growth happen.
A process that entails measuring actual performance, comparing this performance with the established
marketing objectives, and then making adjustments to the strategies or objectives on the basis of this
analysis is a(n) __________. - CORRECT ANSWER control
A process that entails measuring actual performance, comparing this performance with the established
marketing objectives, and then making adjustments to the strategies or objectives on the basis of this
analysis is a control.
An action plan is an individual support plan included in a marketing plan that provides the guidance
for implementation and control of the various marketing strategies within the plan.
An operational plan focuses on the day-to-day execution of the marketing plan.
A diversification strategy is a growth strategy that emphasizes both new products and new markets.
The __________ step in the strategic planning process is to evaluate the internal and external
environment - CORRECT ANSWER second
The first step is to define the mission.
The third step is to set organizational or SBU objectives.
, The fourth step is to establish the business portfolio
An individual support plan included in a marketing plan that provides the guidance for
implementation and control of the various marketing strategies within the plan is a(n) __________. -
CORRECT ANSWER action plan
A mission statement describes the overall purpose of the organization and what it intends to achieve in
terms of its customers, products, and resources.
A situational analysis is an assessment of a firm's internal and external environments.
A control is a process that entails measuring actual performance, comparing this performance with the
established marketing objectives, and then making adjustments to the strategies or objectives on the
basis of this analysis.
The uncontrollable elements outside an organization that may affect its performance either positively
or negatively are known as the __________. - CORRECT ANSWER external environmentthe
internal environment consists of the controllable elements inside an organization, including its people,
its facilities, and how it does things, that influence the operations of the organization.
A mission statement is a formal statement in an organization's strategic plan that describes the overall
purpose of the organization and what it intends to achieve in terms of its customers, products, and
resources.
A business portfolio is the group of different products or brands owned by an organization and
characterized by different income-generating and growth capabilities.
