Posted: May 13th, 2018

MSSU MKRT300 Week 2 quiz 1

Question 1The product manager for a new mousetrap informs the board of directors at its annual meeting that the product has been classified as a ‘dog’ according to the BCG market share/market growth matrix.This means the product:requires a “go/no go” decision within the next several years.has low market share of a high-growth rate market.should be withdrawn from the market or sold off as quickly as possible.needs heavy investment to make it a star.2.5 points Question 2Achieving organizational objectives by predicting and influencing the competitive, political-legal, economic, technological, and social-cultural environment is referred to as _____.research and developmentmarketing researchenvironmental managementenvironmental analysis2.5 points Question 3A SWOT analysis is designed to reveal, among other things, a firm’s core competencies, which reflect its:financial resources.strengths.tactical planning.vulnerabilities.2.5 points Question 4Which term is used to describe the amount of money available with people after buying necessities such as food, clothing, and housing?Basic incomeGross incomeDiscretionary incomePersonal income2.5 points Question 5SWOT is an acronym for:strategy, working, opinion, tactical.strengths, weaknesses, opportunities, threats.strategy, work, openness, toughness.strategy, weakness, opinions, threats.2.5 points Question 6Compared to other organization personnel, more time is devoted to long-range strategic planning by:middle management.manufacturing labor.top management.supervisory management.2.5 points Question 7Marketers must take into account external environments when creating a marketing strategy. These include all of the followingexceptthe _____ environment.political-legalsocial-culturalcompetitivecreative2.5 points Question 8The quadrant of the BCG market share/market growth matrix that represents both a high market share and a high rate of market growth includes the:cash cows.achievers.stars.strivers.2.5 points Question 9Those limited occasions when the key requirements of a market and the particular competencies of a firm best fit together constitute:marketing planning.a strategic window.strategic planning.a first-mover advantage.2.5 points Question 10An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which of the following statements is true?The barriers to market entry are low.The buyer has greater bargaining power.The threat of new entrants is high.The supplier has significant bargaining power.

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