Marketing Final Exam

Commit its resources to obstetrics it was engaging in

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Unformatted text preview: ded to commit its resources to obstetrics, it was engaging in: a. benchmarking b. alternative problem solving c. strategic planning d. portfolio evaluation e. tactical control ANS: C Strategic planning provides a long-term vision and thus guides long-term commitment of resources. PTS: 1 REF: 15 Thinking KEY: CB&E Model Strategy OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Application 4. Since gas prices have soared and consumers have cut back on their spending on new trucks and SUVs, Ford Motor Corporation is transforming several of its plants to create small cars. Ford has engaged in: a. benchmarking b. tactical resource realignment c. alternative selection d. portfolio evaluation e. strategic planning ANS: E Strategic planning provides a long-term vision and thus guides long-term commitment of resources. PTS: 1 REF: 15 Thinking KEY: CB&E Model Strategy OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Application 5. Heinz has announced that they plan to grow the company through an accelerated push into emerging markets such as China, Indonesia, and India in the next ten years. This is an example of: a. tactical objectifying b. contingency plan c. strategic planning d. marketing implementation e. horizon planning ANS: C Strategic planning is the managerial process of creating and maintaining a fit between the organization’s objectives and evolving market opportunities. PTS: 1 REF: 15 OBJ: 02-1 TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy MSC: BLOOMS Application 6. _____ is the process of anticipating events and determining strategies to achieve organizational objectives. a. Planning b. Portfolio evaluation c. Forecasting d. Implementation e. Evaluation ANS: A This is the definition of planning. PTS: 1 REF: 16 Thinking KEY: CB&E Model Marketing Plan OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Knowledge 7. A written document that acts as a guidebook of marketing activities for the marketing manager is known as the: a. strategy document b. marketing plan c. vision statement d. mission statement e. strategic plan ANS: B The marketing plan is a written document that acts as a guidebook of marketing activities for the marketing manager. PTS: 1 REF: 16 Thinking KEY: CB&E Model Marketing Plan OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Knowledge 8. Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years, and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank’s: a. reengineering b. hierarchical restructuring c. financial analysis d. marketing plan e. strategic contingency planning ANS: D See Exhibit 2.1. All the listed activities are part of the marketing planning process. PTS: 1 REF: 16 Thinking KEY: CB&E Model Marketing Plan OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Application 9. Marketing plans should be writt...
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This document was uploaded on 09/29/2013.

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