principles of marketing chapter 2

A SWOT analysis examines all of the following except a business's

• Wealth
• Threats
• Opportunities
• Strengths

Which of the following is an external factor that businesses examine as part of a SWOT analysis?

• Threats
• Strengths
• Opportunities
• Both a and c

A marketing plan is a component of the overall

• SWOT analysis
• marketing strategy
• Budget
• Business plan

The __________ identifies the nature of the business and the reason it exists.

• Business plan
• Executive summary
• Mission statement
• Strategy

A formal, written, document that directs a company's activities for a specific period of time is a

• Marketing Plan
• Target Market
• Executive Summary 
• Target Plan

____________ and _____________ are internal factors that affect a business operation.

• Strengths and Weaknesses
• Strengths and Opportunities
• Opportunities and Threats
• Weaknesses and Threats

How potential customers will be told about a company's products, including the message, media selected, special offers and the timing of campaigns.

• Promotion
• Product
• Place
• Premium

Which of the following is FALSE about the marketing activities?

• Marketing Planning is a process that involves deciding on marketing strategies that business will help the company attain its overall strategic objectives.

• Marketing Implementation is the process of turning marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.

• Marketing Operation is the process of turning marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.

• Marketing Control is the process of measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that marketing objectives are achieved.

Which of the following statement is TRUE about Operating control?

• Operating control is the idea that a company’s marketing decisions should consider consumers’ wants, the company’s requirements, consumer’s long run interests and society’s long-run interests.

• Operating control involves looking at whether the company’s basic strategies are well matched to its opportunities.

• Operating control supports marketing control in the sense where ongoing performance is monitored against annual plan and corrective actions are taken when necessary.

• Operating control is a comprehensive, systematic, independent, and periodic examination that determines problem areas.

Which of the Following CORRECTLY described the contents of the marketing plan?

• Controls is the section that describes the target market and company’s position in it.

• Budgets is the section that spells out ways to turn marketing strategies into specific action programs.

• Objectives and issues is the section that states the marketing objectives that the company would like to attain during the plan’s term and discusses key issues that will affect their attainment.

• Current marketing situation is the section that outlines the control that will be used to monitor progress and allow higher management to review implementation results and spot products that are not meeting their goals.