Illinois State University

MKT 230

CHAPTER 2 QUIZ

1)The strategic planning process begins with:

2. An organization's goals should be based on its                   , which is a long-term view or vision of what the organization wants to become.

3. Which of the following refers to the highest level of strategy developed within an organization?

4. Which of the following statements is true of corporate strategy?

5. Rive Inc. is a multinational company that specializes in a variety of consumer goods ranging from foods and beverages to personal care products. The division within Rive Inc. that is solely concerned with the production and marketing of a particular brand of men's safety razors is an example of a(n)              within the parent company.

6. Groups of individuals and/or organizations that need products in a product class and have the ability, willingness, and authority to purchase those products are called                               .

7. A product's market share is:

8. The makers of a popular video game often re-release the old titles of the game series. This is profitable for the marketers as there is a consistent demand for the series as many consider it a classic, even though its market is unlikely to show any growth. Based on the BCG matrix, the game series is an example of a    .

9. 'Brown's Garage,' an automobile repair store, has a small market share. However, the demand for car repairs and car safety checkups in United States has increased and in order to build up its market share, Brown's Garage would require huge investments in tools and equipment. Based on the BCG matrix, car repairs at Brown's Garage is an example of a                                                                                                                 .

10. Procter & Gamble's superb marketing distribution skills and R&D capabilities in five core technologies (fats, oils, skin chemistry, surfactants, and emulsifiers) have enabled it to build a

strong reputation in the marketplace and drive down competition. It can be said that these skills and capabilities are examples of Procter & Gamble's:

11. There are different types of medicines available for relieving allergy symptoms, but there is a need for one that offers quick relief. Recently, 'Alavert' came up with a quick-dissolving form that can be easily swallowed without water. If Alavert is able to successfully distribute this medicine, it will gain         over other pharmaceutical manufacturers.

12.                      are temporary periods of optimal fit between the key requirements of a market and the particular capabilities of a company competing in the market.

13. Which of the following aspects of a SWOT analysis deal with factors that are external to a company and exist independently of the company?

14. Which of the following aspects of a SWOT analysis deal with factors that are internal to a company and influence the organization's ability to satisfy its customers?

15. In a SWOT analysis, which of the following would be considered a weakness for the BrownBag Lunch Company, a company providing ready-cooked lunches for office workers?

16. Which of the following is true about a late-mover advantage?

17. The marketing objective of Bubbly, a beverage manufacturer, is "To increase awareness of 'Milkola', the cola flavored milk, among kids aged between 7-12 years by 20 percent." Which of the following characteristics of an effective market objective does Bubbly's objective lack?

18. Starbucks serves coffee, which is hardly unique, but they make the coffee buying experience almost a lifestyle. By doing so, they are creating a                                     .

19. Which of the following is true of centralized and decentralized organizations?

20. In evaluating marketing strategies, the process of sales analysis is generally performed to: Answer: analyze actual performance.

21. Which of the following will most help a marketer determine whether changes in sales figures have resulted from the company's marketing strategy or uncontrollable environmental factors?