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SEM II 4.05 Study Guide 1
Test Description: SEM II 4.05 Study Guide 1 questions 1-12
Instructions: Answer all questions to get your test result.
1) When it is conducting a competitive analysis a firm discovers a competitor's weakness. Which condition has the firm most likely uncovered?
A
Product liability
B
Internal threat
C
Marketplace opportunity
D
Ethical disadvantage
2) As part of its market analysis, the SVM Company estimates to increases in product demand over a set time frame for a particular market segment. The SVM Company is attempting to analyze which market feature?
A
Profitability
B
Performance
C
Growth rate
D
Size
3) What is a potential weakness a manager might identify in a SWOT analysis?
A
Low-cost foreign competition
B
Lack of management depth
C
Competitors failing
D
High-quality products
4) SWOT analysis is a technique for summarizing which components of a company?
A
Store, warranty, occupations, and tariffs
B
Skills, workers, organizations, and teams
C
Strengths, weaknesses, opportunities, and threats
D
Strategy, wholesalers, objectives, and trademarks
5) The marketing strategy of a marketing plan should include which component?
A
Explanation of accounting methods
B
List of current employees
C
Proposed annual budget
D
Detailed product description
6) The marketing objectives that a business develops for its marketing plan should lead to which situation?
A
Increased sales
B
Increased prices
C
Decreased costs
D
Decreased taxes
7) An important step in the process of developing a marketing plan involves selecting which component?
A
Research strategy
B
Distribution agent
C
Target market
D
Sales force
8) By conducting a competitive analysis, businesses often are able to determine if they have which attribute?
A
A promotional plan
B
A target market
C
A competitive advantage
D
A security problem
9) What is a potential threat a manager might identify in a SWOT analysis?
A
Weak market image
B
Cost advantages
C
Growing government regulation
D
Economy rebounding
10) Which information is known when conducting a market analysis about the demand for a product?
A
Target market
B
Supply factor
C
Sales growth
D
Market potential
11) The MKO Company projects that sales will increase from $675,900 this year to $736,731 next year. What is the forecasted percentage of the sales increase?
A
9.75%
B
8.25%
C
8.50%
D
9%
12) Which is an activity that a business performs when conducting a competitive analysis?
A
Monitors marketing strategies of rivals
B
Develops selling procedures
C
Sets productivity goals
D
Calculates economic data
*select an answer for all questions
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