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Marketing Final Exam

Cbe model strategy obj 02 3 top aacsb reflective msc

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Unformatted text preview: Strategy OBJ: 02-3 TOP: AACSB Reflective MSC: BLOOMS Comprehension 26. Tub King is a small company that refinishes antique claw foot bathtubs and antique sinks, and provides training for bathtub refinishing. The company’s management is currently conducting a formal study of its current strengths and weaknesses by looking at the company’s profit and sales histories and searching for opportunities and threats by studying consumer trends. Tub King is conducting a(n): a. marketing audit b. SWOT analysis c. environmental scan d. market differentiation scan e. strategic window search ANS: B A SWOT analysis attempts to ascertain the present situation. PTS: 1 REF: 18 Thinking KEY: CB&E Model Strategy OBJ: 02-3 TOP: AACSB Reflective MSC: BLOOMS Application 27. Briggs & Stratton is a company that makes small engines. The company is looking at customer trends, its competitors, and the economy to see if there are any threats or opportunities on the horizon. It has also examined its production policies and sales histories to determine its strengths and weaknesses. Briggs & Stratton is conducting a(n): a. environmental test b. market audit c. trend analysis d. situation analysis e. competitive advantage search ANS: D A situation analysis identifies internal strengths (S) and weaknesses (W) and also examines external opportunities (O) and threats (T). PTS: 1 REF: 18 Thinking KEY: CB&E Model Strategy OBJ: 02-3 TOP: AACSB Reflective MSC: BLOOMS Application 28. Coca-Cola vending machines are found all over the world. The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink. The reason for the introduction of this new style of vending machine is to “allow the company to interact more directly with its customers.” According to a SWOT analysis, the technology used by these machines is an example of a(n): a. strength because it is part of Coca-Cola’s external environment b. advantage because it is part of Coca-Cola’s marketing environment c. weakness because Coca-Cola cannot control technology d. opportunity because it is part of Coca-Cola’s external environment e. benefit because Coca-Cola has the resources to make use of the new technology ANS: D Technological advances represent an external opportunity. PTS: 1 REF: 18 Thinking KEY: CB&E Model Strategy OBJ: 02-3 TOP: AACSB Reflective MSC: BLOOMS Application 29. Smucker’s purchased Folgers Coffee in 2008. The option to buy Folgers represented a(n) _____ to Smucker’s. a. opportunity b. strength c. weakness d. threat e. burden ANS: A An opportunity is a favorable option external to the organization. PTS: 1 REF: 18 Thinking KEY: CB&E Model Strategy OBJ: 02-3 TOP: AACSB Reflective MSC: BLOOMS Application 30. Coca-Cola vending machines are found all over the world. The newest machines have an interactive screen that runs advertisements and allows users to obtain free phot...
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