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Chapter 7

Chapter Quiz

True or False

True or False


This activity contains 15 questions.

	Objectives are statements that outline how strategies will be achieved.    True  False

	The three variables involved in planning are objectives, strategies, and tactics.    True  False

	Marketing planning focuses on identifying trends in the firm's future environment, and they are usually long term in nature (10 years or more).    True  False

	A firm's mission statement expresses its philosophy about corporate donations.    True  False

	Corporate strategies are formulated on the basis of corporate objectives.    True  False

	Diversification strategies involve entry into a completely new market, product line, or industry.    True  False

	A strategic business unit is a part of an organization that can be planned separately but shares a common mission with all other units.    True  False

	Marketing objectives explain what the firm hopes each of its products or services will achieve over a one-year time period.    True  False

	Some companies include a vision statement in the corporate plan.    True  False

	Strategies that try to market new products to existing markets are emphasizing product development.    True  False

	Introducing new products to new markets is called a divestment strategy.    True  False

	Marketing control is more short term in nature than mission statement control.    True  False

	The primary method of evaluating strategic direction and overall effectiveness of marketing activity is a marketing audit, which is performed by external consultants.    True  False

	Corporate objectives need not concern themselves with quantifiable terms since they are very general in nature.    True  False

	When Coca-Cola sells their soft drinks at a special price they are practising market penetration.    True  False

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