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