Chap002 - Chapter 02 Developing Marketing Strategies and a...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 02 Developing Marketing Strategies and a Marketing Plan True / False Questions 1. Strong supplier relations and efficient supply chains help firms such as Walmart to achieve operational excellence. True False 2. To build a sustainable competitive advantage, companies should focus on a single strategy. True False 3. It is not always necessary to go through all the steps in the marketing planning process. True False 4. A mission statement describes the specific actions a firm will take to achieve its goals. True False 5. iTunes software is often credited for the success of the Apple iPod MP3 player, because it made the iPod easier to use than competing players, and was difficult for competitors to duplicate. This is an example of a sustainable competitive advantage. True False 6. STP refers to segmentation, testing, and promotion. True False 7. The components of a SWOT analysis are Strengths, Weaknesses, Opportunities and Tactics. True False 8. Firms are typically more successful when they focus on opportunities that build on their competitors' strengths. True False 9. Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a Weakness. True False 10. Price should be based on the value that the customer perceives.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
True False 11. Geraldo manages the electrical turbine engine division of General Electric Corporation. He makes most decisions independently, without consulting headquarters. Geraldo manages a strategic business unit. True False 12. The marketing planning process always proceeds sequentially through the five steps. True False 13. Isaac is looking for ways to offer new goods and services to his existing customers. He is pursuing a market development strategy. True False 14. If Starbucks decided to start selling organic meals to corporate eating facilities, it would be pursuing a diversification strategy. True False 15. Sandisk's MP3 player product line (called the Sansa) has a low relative market share. The MP3 player market is expected to decline over the next few years. In BCG portfolio analysis, the Sansa would be considered a dog. True False 16. The "Implement Marketing Mix" step of the strategic marketing planning process is part of the control phase. True False Multiple Choice Questions
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern