Marketing Final Exam

To do all of the following except a compare actual

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Unformatted text preview: en to do all of the following EXCEPT: a. compare actual and expected performance b. provide clearly stated activities c. create common goals for employees to work toward d. allow managers to enter the marketplace with an awareness of possibilities and problems e. control the elements of the external marketing environment ANS: E Marketing environment variables cannot be controlled. PTS: 1 REF: 16 Thinking KEY: CB&E Model Marketing Plan OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Evaluation 10. All of the following are elements of the marketing plan EXCEPT: a. the business mission statement b. situation analysis c. the target market strategy d. the marketing mix e. portfolio analysis ANS: E See Exhibit 2.1. PTS: 1 REF: 16 Thinking KEY: CB&E Model Marketing Plan OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Analysis 11. A statement of the firm’s business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions is known as a(n): a. business audit b. marketing plan c. mission statement d. environmental focus e. portfolio matrix ANS: C This is the definition of a mission statement, which answers the question, “What business are we in?” PTS: 1 REF: 17 Thinking KEY: CB&E Model Strategy OBJ: 02-2 TOP: AACSB Reflective MSC: BLOOMS Knowledge 12. The _____ answers the question, “What business are we in, and where are we going?” a. b. c. d. e. mission statement financial statement situation analysis market strategy strategic plan ANS: A A mission statement is a statement of the firm’s business based on a careful analysis of benefits sought by present and potential customers and on analysis of existing and anticipated environmental conditions. PTS: 1 REF: 17 Thinking KEY: CB&E Model Strategy OBJ: 02-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 13. PepsiCo’s annual report has the following statement: “Our business is to increase the value of our shareholder’s investment. We do this through sales growth, cost controls, and wise investment of resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient, and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity.” This statement is an example of PepsiCo’s: a. marketing mix strategy b. quantifiable goal c. mission statement d. statement of economic potential e. market segmentation strategy ANS: C A mission statement answers the question, “What business are we in?” PTS: 1 REF: 17 Thinking KEY: CB&E Model Strategy OBJ: 02-2 TOP: AACSB Reflective MSC: BLOOMS Application 14. The focus of an organization’s mission statement should be on: a. the products it wishes to sell b. the market it wishes to serve c. its social responsibilities d. the desires of government regulators e. technologies it u...
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This document was uploaded on 09/29/2013.

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