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Chapter 7

Chapter Quiz

Multiple Choice

Multiple Choice


This activity contains 15 questions.

	In a ___________________ strategy, one organization in the channel owns other organizations at other levels of the channel.   vertical integration cross marketing strategic alliance horizontal integration

	A firm's mission statement is most likely to express:   operational details the firm's financial plans the firm's general purpose the firm's tactics

	In a SWOT analysis:   strengths and weaknesses are external factors opportunities and threats are internal factors strengths and weaknesses are internal factors most firms have no weaknesses

	Marketing plans:   are influenced by the corporate plans guide the development of corporate plans in firms that have adopted the marketing concept apply to all departments in an organization are very broad and general in scope, dealing directly with legal issues

	Proper evaluation and control of a marketing plan requires:   the establishment of standards corrective action when necessary regular and periodic measurement of actual performance all of the above

	The corporate mission statement influences:   corporate objectives marketing tactics corporate strategy all of the above

	The first step in marketing planning is:   market or situational analysis setting profit objectives marketing control setting marketing objectives

	The major areas of planning that are the responsibility of marketing include:   identifying and selecting target markets establishing marketing objectives, strategies, and tactics evaluating and controlling activities all of the above

	When McDonald's decides to open a restaurant inside a Wal-Mart store, they are using which marketing strategy?   diversification product development market penetration market development

	Which of the following best describes the relationship between corporate planning and marketing planning?   There is no direct relationship between corporate plans and marketing plans. Marketing plans attempt to reconcile corporate plans with target market needs. Corporate plans attempt to incorporate the plans of all departments, including marketing, with the objectives of the firm. Marketing planning is largely dictated by the corporate plan.

	Which of the following best describes the relationship between objectives, strategies, and tactics?   Strategies establish what goals are to be achieved, while objectives and tactics deal with government regulations. Tactics play no role in the planning stage. Strategies are more specific than objectives or tactics. Objectives guide strategies, and strategies guide tactics.

	Which of the following is NOT part of the marketing planning process?   evaluating and controlling marketing activities identifying and selecting target markets establishing marketing objectives, strategies, and tactics all of the above are part of the planning process

	Which of the following statements about marketing strategies is true?   Market developers try to sell existing products to new target markets. Product developers attempt to sell new products to current markets. Market penetration strategies try to increase sales to present users. All of the above are true.

	Which of the following statements is true?   Product development is appropriate with a new product in a new market. Diversification is well suited to new products in an existing market. Market development is when a firm enters a new country with essentially the same product mix it currently sells. Market penetration is used with an existing product in a new market.

	Which of the following statements would most likely be found in a tactical plan?   A new series of full-colour catalogue flyers will be produced and sent out to prospective clients, and two new sales representatives will be hired. We aim to be a market leader in the production and sale of office supplies, to produce the finest-quality products available on the market, and to provide our clients with prompt, efficient, and friendly service. None of the above. We aim to increase our sales and production by 5% over the next two years by increasing marketing efforts and targeting new clients.

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