1. from the 3 Phases of the Strategic Plan, Which One Evaluates Results? A. Planning B

BA 3301-002

1/15/09

Group 4

1. From the 3 phases of the strategic plan, which one evaluates results?
A. Planning
B. Identification
C. Control
D. Implementation
2. For a product to gain a sustainable competitive advantage, it must include all of the following except
A. Operational Excellence
B. Manufacture Excellence
C. Product Excellence
D. Customer Excellence

3. Which growth strategy introduces a new product or service to a market segment that currently is not served?

A. market development strategy

B. diversification strategy

C. production development strategy

D. market penetration strategy

4. What can be achieved through efficient operations and excellent supply chain management?

A. product excellence

B. loyal customers

C. good customer service

D. operational excellence

5. This growth strategy introduces a new product or service to a new market segment which is currently being served:

A. Product Development Strategy
B. Diversification Strategy
C. Market Development Strategy
D. Market Penetration Strategy

6. Which of the following macro strategies focuses on retaining loyal customers and excellent customer service?
a) Operational excellence
b) Product excellence
c) Customer excellence
d) Consumer excellence

7. Which growth strategyemploys the existing marketing mix abd focuses the firm’s efforts on existing customers?

A. Market Development Strategy
B. Diversification Strategy
C. Product Development Strategy
D. Market Penetration Strategy

8. Which macro strategy occurs through branding and positioning?

A. Product Excellence
B. Customer Service

C. Operational Excellence

D. Customer Excellence

9. Which of the following is NOT a macro strategy?

A. Customer Excellence

B. Operational Excellence
C. Product Excellence

D. Market Excellence

10. Which growth strategy employs the existing marketing offering to reach new market segments?

A. Market Development Strategy
B. Diversification Strategy
C. Product Development Strategy
D. Market Penetration Strategy

Answers

1/14/09

Chapter 2 – Group 3

1. Which step in the strategic planning process includes evaluating the results of the strategy and implementation program?

A. Step 1: Define the Business Mission

B. Step 2: Conduct a Situation Analysis using SWOT

C. Step 4: Implementing Marketing Mix and Allocate Resources

D. Step 5: Evaluate Performance and Make Adjustments

2. Which of these are the two main questions a mission statement attempts to answer:

A. What type of business are we? What do we need to do to accomplish our goals and objectives?

B. How do we sell out product, service, or idea to the customer? What is our main objective?

C. What needs to happen in order for us to be successful? What do we need to do in order to expand our business?

D. What does it take to make a successful business? What are our competitors doing better than us?

3. When using SWOT analysis, which of the following is a positive aspect of the external environment?

A. Strengths

B. Weaknesses

C. Opportunities

D. Threats

4. Apple advertises their computers and other products on television, magazine, and online ads. This is an example of:

A. Place and Value Delivery

B. Promotion and Value Communication

C. Allocating Resources

D. Price and Value Capture

5. A market development strategy…

A. Introduces a new product or service to a market segment that currently is not served.

B. Employs the existing marketing offering to reach new market segments, whether domestic of international.

C. Offers a new product of service to a firm’s current target market.

D. Employs the existing marketing mix and focuses the firm’s efforts on existing customers.

6. A growth strategy that offers a new product or service to a firm’s current target market is

A. Market development strategy

B. Product development strategy

C. Diversification strategy

D. Market penetration strategy

7. The process of evaluating the attractiveness of various segments and then deciding which to pursue as a market is:

A. Market Segmentation

B. Market Positioning

C. Target Marketing

D. STP

8. Which of the following is not one of the three types of pricing strategies?

A. Cost based pricing

B. Competitor based pricing

C. Value based pricing

D. Target based pricing

9. The ______is a process that represents a set of steps a marketer goes through to develop a strategic marketing plan.

A. The strategic marketing planning process

B. The marketing plan process

C. The planning phase

D. None of the above

10. Which of the following is not a way to build customer loyalty according to the text?

A. Developing a clear positioning strategy

B. Developing a precise positioning strategy

C. Developing a new product

D. Loyalty programs

Answers: