MKTG FINAL EXAM LATEST REAL EXAM 200 QUESTIONS
AND CORRECT ANSWERS|AGRADE
Which of the following is one of the five basic questions that a good mission
statement should answer? - ANSWER: What is our operating philosophy?
The SWOT analysis is derived from the marketing goals and objectives section. -
ANSWER: TRUE
Whether at the corporate, business-unit, or functional level, the planning process
always begins with an in-depth: - ANSWER: situation analysis.
In the marketing strategy section of the marketing plan, the firm details how it will
gain a competitive advantage by doing something better than the competition. -
ANSWER: True
Marketing goals should be specific statements stated in quantitative terms. -
ANSWER: False
In developing a marketing plan, the section on goals and objectives defines the
parameters by which the firm will measure actual performance. In this respect, the
goals and objectives section is tied closely to the __________ section of the
marketing plan. - ANSWER: evaluation and control
Sup Dogs possesses capabilities that allow it to serve customers' needs better than
the competition. Therefore, Sup Dogs is said to have a: - ANSWER: competitive
advantage.
Goals are more specific than objectives. - ANSWER: False
A marketer for Whole Foods compares sales during a certain time period to
performance standards in the marketing plan. This process is known as marketing
implementation. - ANSWER: False
The marketing planning process typically requires the coordination of __________ at
the top of the corporate hierarchy with more __________ at the bottom. - ANSWER:
broad-based decisions; narrowly defined actions
Supplier power considers the ability of suppliers in an industry to control the prices
they can charge to industry members. When considering suppliers selling
commodities like flour and sugar, these suppliers have a great deal of power
compared to highly concentrated suppliers like airplane parts manufacturers. -
ANSWER: True
, The SWOT synthesizes internal and external analyses so managers can understand,
as well as create, the potential actions that could develop a sustainable competitive
advantage. - ANSWER: True
According to the module video, "Corporate Level Strategy," corporate-level strategy
helps managers: - ANSWER: understand how the business might expand beyond the
firm's original industry
According to the business strategy video in the module, outperformance can be
measured in all of the following ways EXCEPT: - ANSWER: market share
According to the competitive advantage video in the module, competitive parity
occurs when companies are performing at a similar level with one company
demonstrating a competitive advantage. - ANSWER: false
The PESTEL Analysis framework helps companies better understand: - ANSWER:
Strengths and weaknesses
A consumer wanted to purchase a new computer. However, she used the money to
pay her rent instead. In this case, housing is what type of competitor? - ANSWER:
Total budget competitor
What is perhaps the most important economic reality in the United States over the
last 50 years? - ANSWER: Our economy has shifted to become dominated by
intangibles such as services and information.
Microsoft is interested in customers' perceptions of Windows 8, its new PC operating
system. Since the research goal is rather specific, Microsoft should conduct its own
__________ research by asking customers to complete an online questionnaire. -
ANSWER: primary
Which of the following statements describes a reason why noncustomers do not
purchase a firm's products? - ANSWER: Noncustomers do not know that the firm's
product exists.
What is the main purpose of the Sarbanes-Oxley Act of 2002? - ANSWER: To increase
the accuracy and reliability of corporate disclosures of financial information.
As a form of __________ competition, bicycles can solve the same basic need as
automobiles, albeit with a very different product. - ANSWER: generic
Which of the following cultural values is not typically associated with American
consumers? - ANSWER: greater focus on long-term goals
The growth of the Internet has changed the way that situation analysis is conducted
in today's business environment. In terms of situation analysis, which of the
AND CORRECT ANSWERS|AGRADE
Which of the following is one of the five basic questions that a good mission
statement should answer? - ANSWER: What is our operating philosophy?
The SWOT analysis is derived from the marketing goals and objectives section. -
ANSWER: TRUE
Whether at the corporate, business-unit, or functional level, the planning process
always begins with an in-depth: - ANSWER: situation analysis.
In the marketing strategy section of the marketing plan, the firm details how it will
gain a competitive advantage by doing something better than the competition. -
ANSWER: True
Marketing goals should be specific statements stated in quantitative terms. -
ANSWER: False
In developing a marketing plan, the section on goals and objectives defines the
parameters by which the firm will measure actual performance. In this respect, the
goals and objectives section is tied closely to the __________ section of the
marketing plan. - ANSWER: evaluation and control
Sup Dogs possesses capabilities that allow it to serve customers' needs better than
the competition. Therefore, Sup Dogs is said to have a: - ANSWER: competitive
advantage.
Goals are more specific than objectives. - ANSWER: False
A marketer for Whole Foods compares sales during a certain time period to
performance standards in the marketing plan. This process is known as marketing
implementation. - ANSWER: False
The marketing planning process typically requires the coordination of __________ at
the top of the corporate hierarchy with more __________ at the bottom. - ANSWER:
broad-based decisions; narrowly defined actions
Supplier power considers the ability of suppliers in an industry to control the prices
they can charge to industry members. When considering suppliers selling
commodities like flour and sugar, these suppliers have a great deal of power
compared to highly concentrated suppliers like airplane parts manufacturers. -
ANSWER: True
, The SWOT synthesizes internal and external analyses so managers can understand,
as well as create, the potential actions that could develop a sustainable competitive
advantage. - ANSWER: True
According to the module video, "Corporate Level Strategy," corporate-level strategy
helps managers: - ANSWER: understand how the business might expand beyond the
firm's original industry
According to the business strategy video in the module, outperformance can be
measured in all of the following ways EXCEPT: - ANSWER: market share
According to the competitive advantage video in the module, competitive parity
occurs when companies are performing at a similar level with one company
demonstrating a competitive advantage. - ANSWER: false
The PESTEL Analysis framework helps companies better understand: - ANSWER:
Strengths and weaknesses
A consumer wanted to purchase a new computer. However, she used the money to
pay her rent instead. In this case, housing is what type of competitor? - ANSWER:
Total budget competitor
What is perhaps the most important economic reality in the United States over the
last 50 years? - ANSWER: Our economy has shifted to become dominated by
intangibles such as services and information.
Microsoft is interested in customers' perceptions of Windows 8, its new PC operating
system. Since the research goal is rather specific, Microsoft should conduct its own
__________ research by asking customers to complete an online questionnaire. -
ANSWER: primary
Which of the following statements describes a reason why noncustomers do not
purchase a firm's products? - ANSWER: Noncustomers do not know that the firm's
product exists.
What is the main purpose of the Sarbanes-Oxley Act of 2002? - ANSWER: To increase
the accuracy and reliability of corporate disclosures of financial information.
As a form of __________ competition, bicycles can solve the same basic need as
automobiles, albeit with a very different product. - ANSWER: generic
Which of the following cultural values is not typically associated with American
consumers? - ANSWER: greater focus on long-term goals
The growth of the Internet has changed the way that situation analysis is conducted
in today's business environment. In terms of situation analysis, which of the
