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Exam 2: Elements of Marketing Strategy,Planning,and Competition

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Question 51

Multiple Choice

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Mary's firm has delayed making a decision on acquiring a new product line.Her staff has analyzed and tweaked numbers for three months.Most likely,the staff needs to be reminded of which concept?

A) Stay flexible.
B) Utilize input, but don't become paralyzed by information and analysis.
C) Don't underestimate the implementation part of the plan.
D) Stay strategic, but also stay on top of the tactical.
E) Give yourself and your people room to fail and try again.

F) A) and C)
G) A) and D)

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Question 52

Multiple Choice

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The best place in a SWOT analysis to identify rising interest rates and availability of credit for a firm seeking to expand through new construction of real estate is ________.

A) External opportunities
B) External threats
C) Internal opportunities
D) Internal strengths
E) Internal weaknesses

F) B) and D)
G) D) and E)

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Question 53

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Call Company has 12 call centers worldwide handling customer service issues for a variety of companies.The firm is considering the purchase of a software firm that serves the oil and gas industry.Most likely,this would be classified as ________ in Ansoff's Product-Market Matrix.

________ is not one of the five primary activities in the value chain.

The process of measuring marketing results and adjusting the marketing plan as needed is called ________.

Hernandez Brothers manufactures trailers that are used by lawn service companies.The company was started in Texas by their father with 1 production site and 4 sales and service locations.Since the sons took over,they have expanded in the last 12 years to include 26 sales and service centers throughout the southeast.Mostly likely,the company is using a generic strategy based on ________.

The best place in a SWOT analysis to identify problems with hurricanes,earthquakes,major snowfalls,and other natural phenomena is ________.

Growth,stability,and retrenchment refer to a firm's position relating to its ________.

The value proposition relates to the price of a product.

Goals and objectives should be set ________.

The best place in a SWOT analysis to list the competitive trends is ________.

Outbound logistics refer to the distribution of products.

Linda imports fine art paintings and photographs that she sells to hotels.When the dollar is weak against foreign currencies,she struggles to cover her costs.Business has increased 400% in the last five years.With additional resources,she believes she can expand into the profitable hospital and senior assisted living housing markets.According to the BGC matrix,Linda's business is a dog.

Tyler's event planning company hired a new marketing assistant.He says he is a "big-picture person," not a detail-oriented person.Most likely,Tyler is about to find out that the new assistant needs to be coached in which concept?