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WorksheetsMarketing Mix and Strategic Planning Worksheet
Total questions: 100
Worksheet time: 50mins
The "four Ps" of the marketing mix refer to:
Planning, People, Price, Place
Product, Price, Place, Promotion
Passion, Product, Profit, Place
People, Process, Physical Evidence, Price
Which "P" is considered the "heart" of the marketing mix?
Price
Place
Product
Promotion
Packaging, warranties, and branding are components of which "P"?
Promotion
Place
Physical Evidence
Product
Which strategy focuses on making products available when and where customers want them?
Product
Place (Distribution)
Promotion
Pricing
Physical distribution includes which of the following?
Advertising and Personal Selling
Stocking and transportation logistics
Packaging and Servicing
Market Research
The primary role of "Promotion" is to:
Increase the price of goods
Inform, educate, persuade, and remind target markets
Design the product’s physical appearance
Manage the supply chain
Promotion includes all of the following EXCEPT:
Personal selling
Advertising
Sales promotion
Logistics
Which component of the marketing mix is highly flexible and allows for revenue estimation?
Product
Place
Price
Promotion
In the expanded 7Ps model, which of the following are the three additional Ps?
Planning, Profit, Position
People, Process, Physical evidence
Passion, Performance, Presence
Policy, Power, Publics
The 5C's of marketing analysis include Company, Collaborators, Context, Competitors, and:
Costs
Customers
Communication
Channels
Strategic planning is primarily concerned with:
Short-term sales quotas
Long-run profitability and growth
Daily social media posts
Immediate customer complaints
The instrument used for directing and coordinating the marketing effort is the:
Sales receipt
Marketing plan
Slogan
Organizational chart
Which plan specifies marketing tactics like product features and merchandising?
Strategic marketing plan
Tactical marketing plan
Financial plan
Mission statement
Short-range decisions are typically associated with:
Strategic plans
Tactical plans or operating decisions
Mission statements
Business portfolios
What is the goal of strategic planning?
To minimize employee turnover
To create a fit between organization objectives/resources and market opportunities
To design a new company logo
To hire new distributors
Marketing planning is the basis for:
All marketing strategies and decisions
Hiring the CEO
Financial auditing
Manufacturing assembly
Which process involves anticipating future events and determining strategies to achieve objectives?
Budgeting
Planning
Implementation
Monitoring
Long-range decisions are categorized as:
Operating decisions
Tactical plans
Strategic plans
Quarterly reviews
Strategic decisions require:
Minimal effort
Long-term commitments of resources
Monthly updates
Only marketing department input
Product lines, distribution channels, and pricing are delineated in the:
Mission statement
Marketing plan
Vision statement
Annual report
In SWOT analysis, "S" and "W" refer to:
Strategies and Wishes
Strengths and Weaknesses
Sales and Wages
Standards and Warnings
Opportunities and Threats are considered factors in which environment?
Internal environment
External market environment
Financial environment
Employee environment
A "Global brand" or "R&D" capability is an example of a:
Weakness
Threat
Opportunity
Strength
A "Complex supply chain" is classified as a:
Strength
Weakness
Opportunity
Threat
"Health trends" and "Emerging markets" represent:
Internal strengths
External threats
External opportunities
Marketing tactics
"Regulations" and "Competition" are examples of:
Strengths
Weaknesses
Opportunities
Threats
Situation analysis involves evaluating:
Only financial records
The current marketing environment (SWOT)
Employee salaries only
The previous year's taxes
SWOT Analysis is a tool for:
Pricing a product
Performing situation analysis
Designing a logo
Writing a slogan
Which SWOT component deals with internal limitations?
Strengths
Weaknesses
Opportunities
Threats
Which SWOT component focuses on positive external trends?
Strengths
Weaknesses
Opportunities
Threats
The "reason for existence" for an organization is its:
Strategy
Mission
Tactic
Goal
A mission statement should answer the question:
"How much profit did we make?"
"What business are we in?"
"Who is our top salesperson?"
"When is the next meeting?"
Mission statements should focus on:
Specific product offerings
The market or markets served
Daily operational tasks
Internal employee hierarchies
Detailed supporting objectives for each level of management are derived from:
The marketing budget
The mission
The sales team
The competitor's plan
The "methods and actions taken to accomplish strategies" are:
Missions
Goals
Tactics
Visions
A "Goal" is typically accomplished over a time frame of:
1 month
1 year
3-5 years
10-20 years
"Objectives" are actionable targets usually achieved within:
1 week
1 year or less
5 years
10 years
Which of the following is NOT one of the four criteria for useful marketing objectives?
Realistic
Measurable
Time-specific
Product-focused
Marketing objectives must be compared to a:
Competitor's price
Benchmark
Slogan
Mission statement
True or False: Marketing objectives MUST be based on sales.
True
False
A unit of a company that has a separate mission and can be planned independently is an:
Slogan
SBU (Strategic Business Unit)
SWOT
4P
An SBU can be:
A company division
A product line
A single brand
All of the above
A key characteristic of a properly created SBU is:
It shares a mission with all other units
It has its own competitors
It has no control over resources
It depends on other SBUs for planning
The collection of businesses and products that make up a company is the:
Marketing mix
Business portfolio
Slogan
SWOT
Portfolio planning involves identifying SBUs and:
Reducing all prices
Allocating resources
Changing the mission every month
Hiring only intermediaries
What is the first step in company-wide strategic planning?
Setting prices
Identifying key businesses (SBUs)
Designing a logo
Hiring a sales team
SBU planning should be:
Dependent on the HR department
Independent of other businesses in the organization
Focused only on short-term profits
Identical for every unit
An SBU has control over:
Only its marketing
Its own resources
The entire company’s mission
The competitor’s budget
Portfolio analysis helps management evaluate:
Employee satisfaction
Products and businesses making up the company
Office rent
Tax codes
The goal of portfolio planning is to fit company strengths/weaknesses to:
Competitor prices
Opportunities in the environment
Past failures
Employee hobbies
The BCG Matrix evaluates SBUs based on market growth rate and:
Total revenue
Relative market share
Number of employees
Product age
Low-growth, high-share businesses are called:
Stars
Cash Cows
Dogs
Question Marks
High-growth, high-share businesses are called:
Stars
Cash Cows
Dogs
Question Marks
Low-share business units in high-growth markets are:
Stars
Cash Cows
Dogs
Question Marks
SBUs with low growth and low market share are:
Stars
Cash Cows
Dogs
Question Marks
Why is a manager typically satisfied with a "Cash Cow"?
It needs high investment to grow
It produces cash to pay bills and support other SBUs
It has the highest growth potential
It is the newest product
The strategy for a promising "Question Mark" is usually to:
Sell it immediately
Invest to turn it into a Star
Turn it into a Dog
Reduce its market share
A "Star" typically becomes a _____ as its market matures.
Dog
Question Mark
Cash Cow
Slogan
Which of the following is a limitation of the BCG Matrix?
It is too easy to use
It focuses on the future rather than the current
It can be difficult, time-consuming, and costly to implement
It only evaluates slogans
The BCG Matrix provides little advice for:
Current classification
Future planning
Identifying stars
Market share measurement
Ansoff’s growth matrix is a tool for identifying:
Employee bonuses
Company growth opportunities
Daily social media trends
Tax deductions
Selling existing products to existing markets is:
Market development
Market penetration
Product development
Diversification
Selling existing products to new markets (e.g., Mercedes entering BRIC countries) is:
Market penetration
Market development
Product development
Diversification
Offering new products to existing markets is:
Market penetration
Market development
Product development
Diversification
Starting up or buying businesses outside of current products and markets is:
Market penetration
Market development
Product development
Diversification
The Ansoff Matrix suggests growth depends on whether a business markets new/existing products in:
Different seasons
New/existing markets
Different countries only
Online/offline channels only
Which strategy did Daimler Benz follow when moving into aerospace?
Market penetration
Diversification
Product development
Market development
Removing businesses that are unprofitable or no longer fit the strategy is called:
Growth
Downsizing
Penetration
Diversification
Market share can be measured by Sales Revenue or:
Number of employees
Sales volume (units sold)
Number of slogans
CEO salary
Gross Domestic Product (GDP) measures:
Total profit of one company
Total value of final goods/services produced within a nation’s border in a year
Total number of products in a portfolio
Total growth of a Star SBU
Marketing intermediaries are also known as:
Primary customers
Middlemen or third parties
Competitors
Stakeholders
Which intermediary buys and resells products to retailers?
Agent
Broker
Wholesaler
Sales team
Intermediaries that sell, store, and offer technical support are:
Retailers
Distributors
Brokers
Catalogs
The main difference between agents and brokers is:
Agents are only online
Brokers have short-term relationships with the company
Agents don't get commission
Brokers own the products
Which intermediary is paid a commission and has a long-term relationship with the company?
Broker
Agent
Wholesaler
Retailer
Supermarkets and pharmacies are examples of:
Wholesalers
Retailers
Agents
Distributors
For software and digital tech, what often acts as the intermediary?
A physical catalog
The Internet
A warehouse
A broker
Companies or people who buy from manufacturers to sell to consumers in retail are:
Resellers
Brokers
Suppliers
Publics
Catalog sales (like Avon) involve salespeople using a _____ to sell products.
Website only
Magazine
Warehouse
Billboard
Prices are generally _____ in retail compared to wholesale.
Lower
Higher
The same
Unpredictable
Any group that has an actual or potential interest in an organization's ability to achieve objectives is a:
Competitor
Public
Intermediary
Slogan
A "Supplier" is also called a:
Customer
Vendor
Competitor
Public
Competitors are rivals in the same or similar industry offering:
Completely different products
Similar or substitutable products/services
Public services unrelated to the market
Internal stakeholder roles
The presence of competitors can lead to _____ prices for consumers.
Higher
Reduced
Fixed
Infinite
Competition requires companies to become more _____ to reduce costs.
Large
Efficient
Slow
Expensive
McDonald's and Burger King are examples of:
Collaborators
Competitors
Intermediaries
Publics
"Primary customers" and "Primary suppliers" are examples of:
Non-essential groups
Product/Market Stakeholders
Government publics
Internal employees
Competitive advantage is gained when an organization can provide the same value at a:
Higher price
Lower price
Later date
Different location
Competitive advantage can also be achieved by charging higher prices through:
Forcing customers
Differentiation (providing greater value)
Reducing quality
Ignoring competitors
Competitive advantage results from matching core competencies to:
Past mistakes
Opportunities
Employee requests
Slogans
A short phrase that emphasizes a product (e.g., "Just Do It") is a:
Mission
Slogan
Poster
Strategy
A "Poster" must be attached to a _____ to be defined as such.
Floor
Vertical surface
Product
Ceiling
One of the most important marketing management tasks is:
Auditing taxes
Developing Marketing Strategies and Plans
Repairing machinery
Managing legal trials
"Delivering Value" and "Communicating Value" are tasks of:
Accounting
Marketing Management
Human Resources
Maintenance
Companies that respond effectively to changing customer needs are known as:
Master marketers
Slow movers
Monopolies
Startups
The marketing plan operates at two levels:
Local and Global
Strategic and Tactical
Internal and External
Monthly and Yearly
"Connecting with Customers" is a task intended to create:
Short-term confusion
Long-term growth
Higher taxes
More intermediaries
A "Slogan" is usually a:
Long document
Short phrase
Detailed budget
Legal contract
Market Share is a traditional marketing:
Slogan
Metric
Mission
Tactic
The "total quality approach" to strategic planning is relevant to:
Only the CEO
Only the sales team
All marketing activities
Only the finance department
