Marketing Defined Explained Applied 2nd Edition by Michael P Levens -Test Bank

Marketing Defined Explained Applied 2nd Edition by Michael P Levens -Test Bank

Marketing Defined, Explained, Applied, 2e (Levens)

Chapter 3   Planning and Marketing in an Organization

1) Which of the following is a decision process people and businesses use to manage systems to achieve an objective?

A) SWOT analysis

B) business planning

C) ROMI

D) the balanced scorecard

E) the BCG matrix

Answer:  B

Diff: 1             Page Ref: 27

Skill:  Concept

Objective:  3-1

2) A document that defines the operational and financial objectives of a business over a specific time period is a ________.

A) business mission

B) business vision

C) marketing strategy

D) business plan

E) marketing plan

Answer:  D

Diff: 1             Page Ref: 27

Skill:  Concept

Objective:  3-1

3) A business plan ________.

A) is a process for analyzing marketing strategies

B) is a type of marketing audit

C) can be used interchangeably with a marketing plan

D) includes the decisions that guide the entire organization

E) makes a SWOT analysis unnecessary

Answer:  D

Diff: 2             Page Ref: 27

Skill:  Concept

Objective:  3-1

4) Which of the following is the most essential activity performed by a company’s marketing function?

A) creating a business vision

B) injecting customer requirements into the company’s other functions

C) developing tactical plans for the various functions within the company

D) formulating specific and measurable business objectives

E) creating the company’s strategic plan

Answer:  B

Diff: 3             Page Ref: 27

Skill:  Concept

Objective:  3-1

5) When a business determines its overall goals and the steps it will take to achieve them, the business is conducting ________ planning.

A) mission

B) tactical

C) strategic

D) marketing

E) operational

Answer:  C

Diff: 1             Page Ref: 29

Skill:  Concept

Objective:  3-2