1. Kotler / Armstrong 11e, Chapter 2 This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment. 1.annual plan 2.marketing plan 3.strategic plan 4.long-range plan

2. Kotler / Armstrong 11e, Chapter 2 This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment. 1.annual plan 2.marketing plan 3.strategic plan 4.long-range plan

3. Kotler / Armstrong 11e, Chapter 2 A good mission statement should be all of the following except _____. 1.market oriented 2.product oriented 3.realistic 4.motivating

4. Kotler / Armstrong 11e, Chapter 2 A good mission statement should be all of the following except _____. 1.market oriented 2.product oriented 3.realistic 4.motivating

5. Kotler / Armstrong 11e, Chapter 2 The organization should base its mission statement on its _____. 1.profitable goals 2.customers’ welfare 3.product’s value 4.distinctive competencies

6. Kotler / Armstrong 11e, Chapter 2 The organization should base its mission statement on its _____. 1.profitable goals 2.customers’ welfare 3.product’s value 4.distinctive competencies

7. Kotler / Armstrong 11e, Chapter 2 Business portfolio management involves two steps. Step 1 requires the business to analyze its current business portfolio. Step 2 requires it to shape its future portfolio. 1.True 2.False

8. Kotler / Armstrong 11e, Chapter 2 Business portfolio management involves two steps. Step 1 requires the business to analyze its current business portfolio. Step 2 requires it to shape its future portfolio. 1.True 2.False

9. Kotler / Armstrong 11e, Chapter 2 _____ are low-growth, high-share businesses or products. 1.Question marks 2.Cash cows 3.Dogs 4.Stars

10. Kotler / Armstrong 11e, Chapter 2 _____ are low-growth, high-share businesses or products. 1.Question marks 2.Cash cows 3.Dogs 4.Stars

11. Kotler / Armstrong 11e, Chapter 2 _____ are high-growth, high-share businesses or products. 1.Question marks 2.Cash cows 3.Dogs 4.Stars

12. Kotler / Armstrong 11e, Chapter 2 _____ are high-growth, high-share businesses or products. 1.Question marks 2.Cash cows 3.Dogs 4.Stars

13. Kotler / Armstrong 11e, Chapter 2 Which of the following are limitations to the BCG method of strategic planning? 1.difficult to implement 2.costly 3.provide little advice for the future 4.all of the above

14. Kotler / Armstrong 11e, Chapter 2 Which of the following are limitations to the BCG method of strategic planning? 1.difficult to implement 2.costly 3.provide little advice for the future 4.all of the above

15. Kotler / Armstrong 11e, Chapter 2 _____ has the main responsibility for achieving profitable growth for a company. 1.Management 2.Human resources 3.Marketing 4.All of the above

16. Kotler / Armstrong 11e, Chapter 2 _____ has the main responsibility for achieving profitable growth for a company. 1.Management 2.Human resources 3.Marketing 4.All of the above

17. Kotler / Armstrong 11e, Chapter 2 Which of the following is an example of market penetration for Starbucks? 1.adding drive-thru windows to their current coffee shops 2.adding new stores in the Southeast 3.adding hot breakfast items to the menu 4.buying Hear Music

18. Kotler / Armstrong 11e, Chapter 2 Which of the following is an example of market penetration for Starbucks? 1.adding drive-thru windows to their current coffee shops 2.adding new stores in the Southeast (market development) 3.adding hot breakfast items to the menu (product development) 4.buying Hear Music (diversification)

19. Kotler / Armstrong 11e, Chapter 2 Downsizing is reducing the business portfolio by eliminating products or business units that are not profitable or no longer fit the company’s overall image. 1.True 2.False

20. Kotler / Armstrong 11e, Chapter 2 Downsizing is reducing the business portfolio by eliminating products or business units that are not profitable or no longer fit the company’s overall image. 1.True 2.False

21. Kotler / Armstrong 11e, Chapter 2 The _____ takes the customer’s point of view. 1.Human Resource Dept. 2.Management Dept. 3.Information Technology Dept. 4.Marketing Dept.

22. Kotler / Armstrong 11e, Chapter 2 The _____ takes the customer’s point of view. 1.Human Resource Dept. 2.Management Dept. 3.Information Technology Dept. 4.Marketing Dept.

23. Kotler / Armstrong 11e, Chapter 2 _____ should be at the center of a company’s marketing strategy. 1.Customers 2.Profits 3.Products 4.Employees

24. Kotler / Armstrong 11e, Chapter 2 _____ should be at the center of a company’s marketing strategy. 1.Customers 2.Profits 3.Products 4.Employees

25. Kotler / Armstrong 11e, Chapter 2 _____ involves dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behaviors and who might require separate products or marketing mixes. 1.Market definition 2.Target marketing 3.Product positioning 4.Market segmentation

26. Kotler / Armstrong 11e, Chapter 2 _____ involves dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behaviors and who might require separate products or marketing mixes. 1.Market definition 2.Target marketing 3.Product positioning 4.Market segmentation

27. Kotler / Armstrong 11e, Chapter 2 Once the various market segments have been determined, the next step in the marketing strategy process is _____. 1.market evaluation 2.target marketing 3.product positioning 4.market penetration

28. Kotler / Armstrong 11e, Chapter 2 Once the various market segments have been determined, the next step in the marketing strategy process is _____. 1.market evaluation 2.target marketing 3.product positioning 4.market penetration

29. Kotler / Armstrong 11e, Chapter 2 A company should target segments in which it can profitably generate the greatest customer value and sustain it over time. 1.True 2.False

30. Kotler / Armstrong 11e, Chapter 2 A company should target segments in which it can profitably generate the greatest customer value and sustain it over time. 1.True 2.False

31. Kotler / Armstrong 11e, 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. 1.True 2.False

32. Kotler / Armstrong 11e, 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. 1.True 2.False (positioning statement)

33. Kotler / Armstrong 11e, 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 _____. 1.marketing arsenal 2.marketing mix 3.marketing portfolio 4.integrated marketing options (IMOs)

34. Kotler / Armstrong 11e, 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 _____. 1.marketing arsenal 2.marketing mix 3.marketing portfolio 4.integrated marketing options (IMOs)

35. Kotler / Armstrong 11e, Chapter 2 The four P’s in marketing refer to_____, _____, _____ and _____. 1.product; place; price; promotion 2.product; property; price; promotion 3.production; property; people; promotion 4.product; place; promotion; people

36. Kotler / Armstrong 11e, Chapter 2 The four P’s in marketing refer to_____, _____, _____ and _____. 1.product; place; price; promotion 2.product; property; price; promotion 3.production; property; people; promotion 4.product; place; promotion; people

37. Kotler / Armstrong 11e, Chapter 2 Which of the “P’s” listed below relates to a customer’s cost? 1.product 2.place 3.price 4.promotion

38. Kotler / Armstrong 11e, Chapter 2 Which of the “P’s” listed below relates to a customer’s cost? 1.product 2.place 3.price 4.promotion

39. Kotler / Armstrong 11e, Chapter 2 Managers are correct in thinking that, “doing things right” (implementation) is more important than, “doing the right things” (strategy). 1.True 2.False

40. Kotler / Armstrong 11e, Chapter 2 Managers are correct in thinking that, “doing things right” (implementation) is more important than, “doing the right things” (strategy). 1.True 2.False (both are critical to success)