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SEM II 4.05 - 4.06
Test Description: SEM II 4.05 - 4.06
Instructions: Answer all questions to get your test result.
1) When forecasting sales for marketing plans, businesses often rely on
A
supplier data.
B
operating reports
C
research information
D
general statistics
2) One way that a business can learn about its competitors' activities is by
A
developing product specifications.
B
evaluating Intranet efficiencies.
C
reviewing secondary data.
D
identifying communication barriers
3) When a business develops a marketing plan, the objectives should be timely, measurable, and
A
general.
B
serviceable
C
attainable
D
impulsive
4) If a firm discovers a competitor's weakness when it is conducting a competitive analysis, the firm has often uncovered a(n)
A
product liability.
B
ethical disadvantage.
C
internal threat.
D
marketplace opportunity
5) Which of the following is an activity that a business performs when conducting a competitive analysis:
A
Calculates economic data
B
Monitors rivals' marketing strategies
C
Develops selling procedures
D
Sets productivity goals
6) One of the purposes of conducting a market analysis is to develop a(n)
A
management team.
B
customer profile
C
distribution plan
D
operating budget
7) Once a SWOT analysis identifies an internal strength, a business can use that strength to take advantage of a(n)
A
marketing strategy.
B
operating procedure.
C
promotional technique
D
external opportunity
8) What is a potential threat a manager might identify in a SWOT analysis?
A
Weak market image
B
Economy rebounding
C
Growing government regulation
D
Cost advantages
9) The marketing objectives that a business develops for its marketing plan should lead to a(n)
A
increase in prices.
B
decrease in costs
C
increase in sales
D
decrease in taxes.
10) Which of the following is an internal strength that a business might identify during a SWOT analysis:
A
Limited competition
B
Extensive regulations
C
Increased expenses
D
Financial resources
11) By conducting a competitive analysis, businesses often are able to determine if they have a
A
target market.
B
security problem.
C
promotional plan.
D
competitive advantage.
12) An important step in the process of developing a marketing plan involves selecting the
A
distribution agent.
B
sales force
C
research strategy
D
target market
13) Businesses usually analyze market potential for a certain product by considering total demand in a specific
A
social situation.
B
day of the week
C
geographical area.
D
research sample.
14) What do businesses often take into consideration when forecasting sales for marketing plans?
A
Competitors' market share
B
Quotas for salespeople
C
Company's profit goals
D
Location of regional territories
15) A business asks its customers about the types and amounts of products that they plan to purchase in the next 12 months. What is the business using to help forecast sales?
A
An attitude survey
B
Survey of buyer intentions
C
Customer-positioning analysis
D
Market-factor analysis
16) The MKO Company projects that sales will increase from $675,900 this year to $736,731 next year. What is the forecasted percentage of sales increase?
A
9%
B
8.5%
C
8.25%
D
9.75%
17) When conducting a market analysis, a business considers the total possible demand for a product which is known as the
A
target market
B
market potential.
C
supply factor
D
sales growth
18) What is a potential weakness a manager might identify in a SWOT analysis?
A
High-quality products
B
Lack of management depth
C
Low-cost foreign competition
D
Competitors failing
19) In which of the following situations should a business consider its competitors' prices when developing a marketing plan:
A
Analyzing a new database
B
Selecting a new supplier
C
Introducing a new product
D
Organizing a new division
20) In which of the following situations might a business decide that the cost of implementing a marketing plan for a specific product is much greater than the financial benefits:
A
Two competitors have 65% of current market share.
B
Level of profitability will remain the same.
C
Advertising rates are increasing slightly.
D
Target market buys $500,000 worth of product each year.
*select an answer for all questions
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