Question 1

Opportunities and threats are internal to the organization and are largely uncontrollable.

Accepted Answer

A) True 
 B)False

Question 2

When a manufacturer creates a product with a low share of a high-growth market,the product is known as a _____.

Accepted Answer

A)   star
B)   cash cow
C)   question mark
D)   dog
E)   harvest productF) A) and B)
G) A) and C)

Question 3

Explain the importance of implementing consistent plans when a company has multiple planning levels.

Accepted Answer

All plans must help an organization achi...

Question 4

Which of the following processes helps an organization allocate its resources under different conditions to accomplish its objectives,deliver value,and be competitive in a market-driven economy?

Accepted Answer

A)   Corporate planning
B)   Strategic planning
C)   Business planning
D)   Market forecasting
E)   Business forecastingF) A) and D)
G) B) and C)

Question 5

Describe the components of a situation analysis.

Accepted Answer

When engaging in strategic planning,a co...

Question 6

A(n)_____ explains why customers should buy a product,why stakeholders should donate,or why prospective employees may want to work for an organization.

Accepted Answer

The answer of A(n)_____ explains why customers should buy a...

Question 7

A direct investment strategy involves the most risk and investment but offers the most control.

Accepted Answer

A) True 
 B)False

Question 8

Explain how individuals can utilize value propositions.

Accepted Answer

Understanding the value one can bring to...

Question 9

In Michael Porter's five forces model,the threat of supplier bargaining power refers to:

Accepted Answer

A)   a buyer being large enough, to affect a selling company's performance.
B)   the likelihood a supplier will enter into a customer's market.
C)   visiting competitors to learn about their customer service and their products.
D)   vying for the supplier's dollar.
E)   the threat of substitute products.F) A) and D)
G) D) and E)

Question 10

The success sequence involves taking money from _____ and investing it into _____ in hopes of them becoming _____.

Accepted Answer

A)   cash cows; question marks; dogs
B)   cash cows; question marks; stars
C)   dogs; question marks; stars
D)   dogs; cash cows; stars
E)   question marks; stars; cash cowsF) All of the above
G) A) and C)

Question 11

_____ are internal factors that are somewhat controllable and can be utilized by the company to create a competitive advantage.

Accepted Answer

The answer of _____ are internal factors that are somewhat...

Question 12

Goodyear's strategic business units are set up to satisfy customers' needs:

Accepted Answer

A)   in different worldwide markets.
B)   in different automotive categories.
C)   through market penetration.
D)   in different product categories.
E)   through value segmentation.F) A) and B)
G) A) and E)

Question 13

A group of business units owned by a single firm is known as a _____.

Accepted Answer

A)   SBU
B)   marketing group
C)   LEC
D)   parent company
E)   portfolioF) A) and D)
G) A) and E)

Question 14

List and describe the parts of Porter's five forces model and explain how it is utilized by companies.

Accepted Answer

The five forces include:
1)Bargaining Po...

Question 15

A firm's _____ states the purpose of the organization and why it exists.

Accepted Answer

A)   value proposition
B)   business plan
C)   marketing plan
D)   mission statement
E)   financial reportF) C) and D)
G) All of the above

Question 16

Sally's cookie company sells products both online and at retail locations.She has developed multiple value propositions because:

Accepted Answer

A)   cookies necessitate more explanation than other products due to the variety of flavors.
B)   Sally is an overachiever and likes to do more work than necessary.
C)   Sally's firm is serving more than one target market.
D)   cookies are part of a saturated market.
E)   cookies are in the mature stage of the product life cycle.F) C) and D)
G) B) and D)

Question 17

A company's resources,capabilities,and technology are examples of _____.

Accepted Answer

The answer of A company's resources,capabilities,and technology are examples of...

Question 18

Which of the following is a function of the Food and Drug administration?

Accepted Answer

A)   It prohibits U.S. firms from restraining trade.
B)   It regulates deceptive advertising.
C)   It regulates the labeling of consumable products.
D)   It creates monopolies and cartels.
E)   It prohibits monopolies and cartels.F) D) and E)
G) All of the above

Question 19

List and describe the four types of product strategies and market-entry strategies that companies pursue.

Accepted Answer

1)Market-penetration-Refers to selling m...

Question 20

Michael Porter's five forces model includes all of the following EXCEPT:

Accepted Answer

A)   rivalries of existing companies.
B)   threat of substitute products.
C)   bargaining power of buyers.
D)   threat of supplier penetration development.
E)   threat of new entrants.F) A) and C)
G) B) and E)

Exam 2: Strategic Planning

Describe the components of a situation analysis.

Correct AnswerverifiedWhen engaging in strategic planning,a co...View AnswerShow Answer

Goodyear's strategic business units are set up to satisfy customers' needs:

Correct AnswerverifiedShow Answer

A firm's _____ states the purpose of the organization and why it exists.

Correct AnswerverifiedShow Answer

The success sequence involves taking money from _____ and investing it into _____ in hopes of them becoming _____.

Correct AnswerverifiedShow Answer

A direct investment strategy involves the most risk and investment but offers the most control.

Correct AnswerverifiedShow Answer

Sally's cookie company sells products both online and at retail locations.She has developed multiple value propositions because:

Correct AnswerverifiedShow Answer

_____ are internal factors that are somewhat controllable and can be utilized by the company to create a competitive advantage.

Correct AnswerverifiedShow Answer

List and describe the parts of Porter's five forces model and explain how it is utilized by companies.

Correct AnswerverifiedThe five forces include:1)Bargaining Po...View AnswerShow Answer

Opportunities and threats are internal to the organization and are largely uncontrollable.

Correct AnswerverifiedShow Answer

A group of business units owned by a single firm is known as a _____.

Correct AnswerverifiedShow Answer

List and describe the four types of product strategies and market-entry strategies that companies pursue.

Correct Answerverified1)Market-penetration-Refers to selling m...View AnswerShow Answer

Explain how individuals can utilize value propositions.

Correct AnswerverifiedUnderstanding the value one can bring to...View AnswerShow Answer

Michael Porter's five forces model includes all of the following EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following processes helps an organization allocate its resources under different conditions to accomplish its objectives,deliver value,and be competitive in a market-driven economy?

Correct AnswerverifiedShow Answer

Which of the following is a function of the Food and Drug administration?

Correct AnswerverifiedShow Answer

In Michael Porter's five forces model,the threat of supplier bargaining power refers to:

Correct AnswerverifiedShow Answer

When a manufacturer creates a product with a low share of a high-growth market,the product is known as a _____.

Correct AnswerverifiedShow Answer

Explain the importance of implementing consistent plans when a company has multiple planning levels.

Correct AnswerverifiedAll plans must help an organization achi...View AnswerShow Answer

A company's resources,capabilities,and technology are examples of _____.

Correct AnswerverifiedShow Answer

A(n)_____ explains why customers should buy a product,why stakeholders should donate,or why prospective employees may want to work for an organization.

Correct AnswerverifiedShow Answer

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When engaging in strategic planning,a co...
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The success sequence involves taking money from ___ and investing it into _ in hopes of them becoming ___.

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The five forces include:
1)Bargaining Po...
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Correct Answer
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1)Market-penetration-Refers to selling m...
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Correct Answer
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Understanding the value one can bring to...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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All plans must help an organization achi...
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Correct Answer
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Correct Answer
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