Reference no: EM133224067
Assignment:
1. A diversification strategy involves:
-marketing new products to an existing customer base.
-seeking new products for customers not currently being served.
-seeking new customers for existing products.
-increasing the sale of present products to present customers.
2. The things that an organization does so well that they give it an advantage over similar organizations represent that organization's _____.
-external opportunities
-competitive parity
-vendor analysis variables
-distinctive competencies
3. Candela Inc.'s marketing and product design involves identifying customer needs and then working backwards to devise products and services to meet those needs. Which of the following statements is most likely true about Candela Inc.?
-It has a production orientation.
-It aims to manipulate customers to increase sales.
-It demonstrates customer orientation.
-It does not adhere to the marketing concept.
4. The principal task of the marketing function operating under the marketing concept is to _____.
-increase the company's rate of production and devise methods to aggressively attract consumers to purchase products
-focus on selling products to a particular class of customers
-find ways to manipulate customers to do what suits the interests of the firm
-find effective and efficient means of making the business do what suits the interests of customers
5. Which of the following statements is true regarding market penetration strategies?
-They involve encouraging present customers to purchase more of a product.
-They involve diversifying into an unrelated business.
-They involve marketing to new customers.
-They involve the creation of new products for a marke
6. Which of the following defines the direction in which an organization is heading and is typically determined in the first stage of strategic planning?
-Employee manual
-Code of ethics
-Mission statement
-Annual plan
7. Market development strategies involve:
-leading an organization into entirely new and unrelated businesses.
-increasing the sale of existing products to present customers.
-directing new products to present customers.
-finding new customers for its present products.
8. In the context of strategic planning, the _____ must be specific, measurable, action commitments by which the mission of the organization is to be achieved.
-organizational strategies
-organizational mission
-organizational objectives
-organizational portfolio plan
9. Which of the following is the first component of the strategic plan?
-Organizational portfolio plan
-Organizational mission
-Organizational objectives
-Orgatizational strategies
10. Midas Corporation is a sporting goods manufacturer. Most of its energies and resources are devoted to manufacturing and selling one line of sporting shoes that has been a reasonable hit in the past. The company rarely undertakes any marketing research studies to assess consumer wants and needs and seldom devises new advertising or promotional strategies. The company is mostly exhibiting _____.
-production orientation
-market orientation
-customer orientation
-investor orientation