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Company and Marketing Strategy Quiz

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1._____ is the task of selecting an overall company strategy for long-run survival and growth.
a.Strategic market planning
b.Annual market planning
c.Short-term planning
d.None of the above is correct
Answer: (a) Difficulty (1) Page: 41

2.Adapting the firm to take advantage of opportunities in its constant changing environment is called _____.
a.Long-range planning
b.Short-range planning
c.annual planning
d.strategic planning
Answer: (d) Difficulty: (1) Page: 42

3.What is our business? Who is our customer? What do our customers value? What should our business be? All these simple-sounding questions define a firm’s _____.
a.objectives and goals
b.mission statement
c.business portfolio
d.marketing and functional strategies
Answer: (b) Difficulty: (2) Page: 42

4.A _____ defines a business in terms of satisfying basic customer needs a.market oriented mission statement
b.strategic plan
c.annual plan
d.none of the above is correct
Answer: (a) Difficulty: (2) Page: 43

5.All of the following are accurate descriptions of a company’s mission statement, except which one?
a.Mission statement should be realistic.
b.Mission statement should be broad.
c.Mission statement should fit the market environment.
d.Mission statements should be written for ‘public relations’ purposes. Answer: (b) Difficulty: (2) Pages: 43, 44

6.All of the following are market-oriented mission statements, except which one?
a.eBay’s mission is to connect individual buyers and sellers online. b.Singapore Airlines is the world’s largest airline.

c.Girl Scouts of America, “where girls grow strong.”
d.Wal-Mart, “we deliver low prices everyday.”
Answer: (b); Difficulty: (1) Page: 43

7.The collection of businesses and products that make up a company is called its _____.
a.strategic business unit
b.mission statement
c.strategic plan
d.business portfolio
Answer: (d) Difficulty: (1) Page: 44

8._____ can be a company division, a product line within a division, or sometimes a single product or brand.
a.A market
b.The BCG
c.An SBU
d.All of the above are correct
Answer: (c) Difficulty: (1) Page: 44

9.The purpose of _____ is to find ways in which the company can best use its strengths to take advantage of attractive opportunities in the environment. a.a market
b.an SBU
c.strategic planning
d.short-term planning
Answer: (c); Difficulty: (2) Page: 45

10.The best known product portfolio planning method was developed by _____. a.Philip Kotler
b.Harvard University
c.SRI Consulting firm
d.Boston Consulting Group
Answer: (d) Difficulty: (1) Page: 45

11.Most portfolio analysis methods evaluate SBUs on two dimensions, namely _____ and _____. a.market share; sales
b.market growth rate; relative market share
c.market attractiveness; market growth rate
d.none of the above is correct
Answer: (b) Difficulty: (2) Page: 45

12.The BCG growth-share matrix classifies four types of SBUs. They are _____, _____, _____ and _____. a.product; price; place and promotion
b.sales; market share; price and promotion
c.stars; cash cows; question marks and dogs
d.none of the above is correct
Answer: (c) Difficulty: (2) Page: 45

13.In the BCG approach, _____ are high share-high growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into _____. a.cash cows; stars

b.question marks; dogs
c.stars; question marks
d.stars; cash cows
Answer: (d) Difficulty: (2) Pages: 45, 46

14.All of the following phrases accurately reflect problems with the BCG matrix approach, except which one? a.They are easy to implement.
b.They can be costly.
c.They can be time consuming to implement.
d.It is difficult to define SBUs and measure market share and growth. Answer: (a) Difficulty: (2) Page: 46

15.Unlike former strategic-planning efforts, today’s strategic planning has been _____. a.short-term oriented
c.limitation free
d.customer friendly
Answer: (b) Difficulty: (2) Page: 46

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