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