1. Kotler / Armstrong, Chapter 2
This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment.
annual plan
marketing plan
strategic plan
operational plan

2. Kotler / Armstrong, Chapter 2
This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment.
annual plan
marketing plan
strategic plan
operational plan

3. Kotler / Armstrong, Chapter 2
A good mission statement should be realistic, be specific, fit the market environment, and motivate, among other things.
true
false

4. Kotler / Armstrong, Chapter 2
A good mission statement should be realistic, be specific, fit the market environment, and motivate, among other things.
true
false

5. Kotler / Armstrong, Chapter 2
The organization should base its mission statement on its _____.
profitable goals
customers’ welfare
product’s value
distinctive competencies

6. Kotler / Armstrong, Chapter 2
The organization should base its mission statement on its _____.
profitable goals
customers’ welfare
product’s value
distinctive competencies

7. Kotler / Armstrong, Chapter 2
Strategic business units (SBUs) are classified as stars, cash cows, cats, or dogs.
true
false

8. Kotler / Armstrong, Chapter 2
Strategic business units (SBUs) are classified as stars, cash cows, cats, or dogs.
true
false

9. Kotler / Armstrong, Chapter 2
_____ are low-growth, high-share businesses or products.
Question marks
Cash cows
Dogs
Stars

10. Kotler / Armstrong, Chapter 2
_____ are low-growth, high-share businesses or products.
Question marks
Cash cows
Dogs
Stars

11. Kotler / Armstrong, Chapter 2
All of the following are components of the product/market expansion grid except
_____.
market penetration
market development
unification
product development

12. Kotler / Armstrong, Chapter 2
All of the following are components of the product/market expansion grid except _____.
market penetration
market development
unification
product development

13. Kotler / Armstrong, Chapter 2
Which of the following are limitations to the Boston Consulting Group (BCG) method of strategic planning?
difficult to implement
costly
provides little advice for the future
all of the above

14. Kotler / Armstrong, Chapter 2
Which of the following are limitations to the Boston Consulting Group (BCG) method of strategic planning?
difficult to implement
costly
provides little advice for the future
all of the above

15. Kotler / Armstrong, Chapter 2
The series of departments that add value-creating activities to the design, product/service, and market and support a company’s product(s) is called _____.
1. marketing mix
2. positioning
3. value chain
4. SWOT

16. Kotler / Armstrong, Chapter 2
The series of departments that add value-creating activities to the design, product/service, and market and support a company’s product(s) is called _____.
1. marketing mix
2. positioning
3. value chain
4. SWOT

17. Kotler / Armstrong, Chapter 2
Which of the following is an example of market penetration for Starbucks?
adding drive-thru windows to their current coffee shops
adding new stores in the Southeast
adding hot breakfast items to the menu
buying Hear Music

18. Kotler / Armstrong, Chapter 2
Which of the following is an example of market penetration for Starbucks?
adding drive-thru windows to their current coffee shops
adding new stores in the Southeast (market development)
adding hot breakfast items to the menu (product development)
buying Hear Music (diversification)

19. Kotler / Armstrong, Chapter 2
The network comprised of the company, venders, distributors, and customers who “partner” with each other to improve the performance of the entire system is called ______.
value-delivery network
positioning
market concept
market penetration

20. Kotler / Armstrong, Chapter 2
The network comprised of the company, venders, distributors, and customers who “partner” with each other to improve the performance of the entire system is called ______.
value-delivery network
positioning
market concept
market penetration

21. Kotler / Armstrong, Chapter 2
Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs is called ______.
market segmentation
target marketing
differentiation
positioning

22. Kotler / Armstrong, Chapter 2
Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs is called ______.
market segmentation
target marketing
differentiation
positioning

23. Kotler / Armstrong, Chapter 2
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.
1. segmentation
2. target marketing
3. differentiation
4. positioning

24. Kotler / Armstrong, Chapter 2
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.
1. segmentation
2. target marketing
3. differentiation
4. positioning

25. Kotler / Armstrong, Chapter 2
All of the following are elements of the marketing mix except _____.
product
price
profit
promotion

26. Kotler / Armstrong, Chapter 2
All of the following are elements of the marketing mix except _____.
product
price
profit
promotion

27. Kotler / Armstrong, Chapter 2
Once the various market segments have been determined, the next step in the marketing strategy process is _____.
market evaluation
target marketing
product positioning
market penetration

28. Kotler / Armstrong, Chapter 2
Once the various market segments have been determined, the next step in the marketing strategy process is _____.
market evaluation
target marketing
product positioning
market penetration

29. Kotler / Armstrong, Chapter 2
Which of the following is not one of the four areas of SWOT analysis?
strengths
outsourcing
weaknesses
threats

30. Kotler / Armstrong, Chapter 2
Which of the following is not one of the four areas of SWOT analysis?
strengths
outsourcing
weaknesses
threats

31. Kotler / Armstrong, Chapter 2
The purpose of a product’s image statement is to present the product in a clear, distinct, and desirable way relative to competing products in the minds of target consumers.
true
false

32. Kotler / Armstrong, Chapter 2
The purpose of a product’s image statement is to present the product in a clear, distinct, and desirable way relative to competing products in the minds of target consumers.
true
false (positioning statement)

33. Kotler / Armstrong, Chapter 2
The set of controllable, tactical marketing tools that the firm blends together to produce its response to the wants of its target market are called its _____.
marketing arsenal
marketing mix
marketing position
independent marketing options

34. Kotler / Armstrong, Chapter 2
The set of controllable, tactical marketing tools that the firm blends together to produce its response to the wants of its target market are called its _____.
marketing arsenal
marketing mix
marketing position
independent marketing options

35. Kotler / Armstrong, Chapter 2
The process of evaluating your marketing strategy and taking corrective action to ensure those objectives are reached is called marketing control.
true
false

36. Kotler / Armstrong, Chapter 2
The process of evaluating your marketing strategy and taking corrective action to ensure those objectives are reached is called marketing control.
true
false

37. Kotler / Armstrong, Chapter 2
The following four steps—defining the company’s mission, setting objectives, designing a portfolio, and developing plans— is called _____.
strategic planning
positioning
market penetration
differentiation

38. Kotler / Armstrong, Chapter 2
The following four steps—defining the company’s mission, setting objectives, designing a portfolio, and developing plans— is called _____.
strategic planning
positioning
market penetration
differentiation

39. Kotler / Armstrong, Chapter 2
Managers are correct in thinking that “doing things right” (implementation) is more important than “doing the right things” (strategy).
true
false

40. Kotler / Armstrong, Chapter 2
Managers are correct in thinking that “doing things right” (implementation) is more important than “doing the right things” (strategy).
true
false (both are critical to success)