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Marketing: Real People, Real Choices, 4e
Chapter 2
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Products that produce profit and market share with very little effort are referred to as ________ in the BCG matrix.
1. dogs
2. cash cows
3. value products
4. stars
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Products that produce profit and market share with very little effort are referred to as ________ in the BCG matrix.
1. dogs
2. cash cows
3. value products
4. stars
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A growth strategy that emphasizes both new products and new markets is
called diversification.
1. True 2. False
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A growth strategy that emphasizes both new products and new markets is
called diversification.
1. True 2. False
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A competitive advantage is
1. a superior capability of a company in comparison to its direct competitors.
2. a growth strategy designed to increase market share.
3. the ability of the company to outperform its competition.
4. a growth strategy to increase profitability.
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A competitive advantage is
1. a superior capability of a company in comparison to its direct competitors.
2. a growth strategy designed to increase market share.
3. the ability of the company to outperform its competition.
4. a growth strategy to increase profitability.
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SWOT refers to the analysis of a company’s sales, workforce, ownership, and talent.
1. True 2. False
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SWOT refers to the analysis of a company’s sales, workforce, ownership, and talent.
1. True 2. False
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When managers compare a marketing planning objective to an actual occurrence, they are implementing
control aspects of the plan.
1. True 2. False
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When managers compare a marketing planning objective to an actual occurrence, they are implementing
control aspects of the plan.
1. True 2. False
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If Chappy Chip Company is developing a brand new flavor of baked potato chips, they are implementing a ___________ plan.
1. market development
2. product development
3. strategic
4. diversification
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If Chappy Chip Company is developing a brand new flavor of baked potato chips, they are implementing a ___________ plan.
1. market development
2. product development
3. strategic
4. diversification
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Automobile dealerships in rural America are having a difficult time selling automobiles because of the high price of gasoline. This is due most likely to the __________.
1. internal environment of the automobile industry
2. values in our society
3. demographics of rural America
4. changing dynamics of the external business environment
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Automobile dealerships in rural America are having a difficult time selling automobiles because of the high price of gasoline. This is due most likely to the __________.
1. internal environment of the automobile industry
2. values in our society
3. demographics of rural America
4. changing dynamics of the external business environment
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Companies that introduce new products into new markets are penetrating that market.
1. True 2. False
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Companies that introduce new products into new markets are penetrating that market.
1. True 2. False
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A patent will always give a company a slight competitive advantage.
1. True 2. False
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A patent will always give a company a slight competitive advantage.
1. True 2. False
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A company creates a product portfolio to reduce the risks of doing business.
1. True 2. False
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A company creates a product portfolio to reduce the risks of doing business.
1. True 2. False
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MADD, the Mothers Against Drunk Driving, seeks to prevent drunk driving, support the victims of this crime, and prevent underage drinking. This philosophy is most likely the organization’s __________.
1. internal analysis
2. marketing plan
3. mission statement
4. profit objective
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MADD, the Mothers Against Drunk Driving, seeks to prevent drunk driving, support the victims of this crime, and prevent underage drinking. This philosophy is most likely the organization’s __________.
1. internal analysis
2. marketing plan
3. mission statement
4. profit objective
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The for-profit business schools like the University of Phoenix most likely compete in a structure defined as _________.
1. oligopoly
2. pure competition
3. monopolistic competition
4. monopoly
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The for-profit business schools like the University of Phoenix most likely compete in a structure defined as _________.
1. oligopoly
2. pure competition
3. monopolistic competition
4. monopoly
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When a company tries to develop an edge over its competitors based on a superior product, better distribution, better services, or lower selling price
based on lower costs, it is trying to establish a(n):
1. business-to-business advantage
2. industrial advantage
3. competitive advantage
4. production advantage
5. market segment
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When a company tries to develop an edge over its competitors based on a superior product, better distribution, better services, or lower selling price
based on lower costs, it is trying to establish a(n):
1. business-to-business advantage
2. industrial advantage
3. competitive advantage
4. production advantage
5. market segment
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Which of the following is not an example of a competitive advantage?
1. a superior product in relation to the competition
2. a technology level equal to the competition
3. better distribution and services
4. low costs and selling prices
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Which of the following is not an example of a competitive advantage?
1. a superior product in relation to the competition
2. a technology level equal to the competition
3. better distribution and services
4. low costs and selling prices
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A company will be more successful in its marketing planning if it has a knowledge of changes in the marketing environment.
1. True 2. False
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A company will be more successful in its marketing planning if it has a knowledge of changes in the marketing environment.
1. True 2. False
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The more a company knows about the weaknesses in a competitor’s marketing strategy, the better able it will be in exploiting the weakness to gain competitive advantage.
1. True 2. False
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The more a company knows about the weaknesses in a competitor’s marketing strategy, the better able it will be in exploiting the weakness to gain competitive advantage.
1. True 2. False
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Discovering threats to marketing success, like Kodak’s finding out about Sony’s new digital camera technology, forces companies to rethink their strategic planning.
1. True 2. False
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Discovering threats to marketing success, like Kodak’s finding out about Sony’s new digital camera technology, forces companies to rethink their strategic planning.
1. True 2. False
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If companies do not have a sufficient knowledge of the competitive nature of the environment, they will most likely make poor marketing decisions in that environment.
1. True 2. False
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If companies do not have a sufficient knowledge of the competitive nature of the environment, they will most likely make poor marketing decisions in that environment.
1. True 2. False
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Objectives are the part of a marketing plan that define marketing
opportunities.
1. True 2. False
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Objectives are the part of a marketing plan that define marketing
opportunities.
1. True 2. False
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Strategic planning focuses on one
product in the firm’s product mix.
1. True 2. False
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Strategic planning focuses on one
product in the firm’s product mix.
1. True 2. False
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Evaluation of a marketing plan should
be an ongoing process.
1. True 2. False
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Evaluation of a marketing plan should
be an ongoing process.
1. True 2. False
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It is important to have information to help make marketing decisions. Two of the most important areas of information needed to exploit opportunities in marketing are a knowledge of:
1. stock prices and interest rates
2. competitors and environmental changes
3. competitors and average inventory
4. the fluctuating dollar and the global environment
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It is important to have information to help make marketing decisions. Two of the most important areas of information needed to exploit opportunities in marketing are a knowledge of:
1. stock prices and interest rates
2. competitors and environmental changes
3. competitors and average inventory
4. the fluctuating dollar and the global environment
![Page 46: Marketing: Real People, Real Choices, 4e Chapter 2](https://reader033.vdocuments.us/reader033/viewer/2022061517/56649e6f5503460f94b6ca0d/html5/thumbnails/46.jpg)
Strategic planning begins with the notion that consumers:
1. are ignorant
2. can be exploited
3. have one need to satisfy
4. have a set of needs to satisfy
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Strategic planning begins with the notion that consumers:
1. are ignorant
2. can be exploited
3. have one need to satisfy
4. have a set of needs to satisfy
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When Nintendo introduced the Game Cube, it was implementing:
1. product line extension
2. product development
3. market expansion
4. market penetration
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When Nintendo introduced the Game Cube, it was implementing:
1. product line extension
2. product development
3. market expansion
4. market penetration