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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
Marketplace opportunity
B
Internal threat
C
Product liability
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
Performance
B
Growth rate
C
Size
D
Profitability
3) What is a potential weakness a manager might identify in a SWOT analysis?
A
Lack of management depth
B
Competitors failing
C
High-quality products
D
Low-cost foreign competition
4) SWOT analysis is a technique for summarizing which components of a company?
A
Strategy, wholesalers, objectives, and trademarks
B
Store, warranty, occupations, and tariffs
C
Strengths, weaknesses, opportunities, and threats
D
Skills, workers, organizations, and teams
5) The marketing strategy of a marketing plan should include which component?
A
Explanation of accounting methods
B
Proposed annual budget
C
Detailed product description
D
List of current employees
6) The marketing objectives that a business develops for its marketing plan should lead to which situation?
A
Decreased taxes
B
Increased sales
C
Decreased costs
D
Increased prices
7) An important step in the process of developing a marketing plan involves selecting which component?
A
Research strategy
B
Target market
C
Distribution agent
D
Sales force
8) By conducting a competitive analysis, businesses often are able to determine if they have which attribute?
A
A competitive advantage
B
A target market
C
A promotional plan
D
A security problem
9) What is a potential threat a manager might identify in a SWOT analysis?
A
Weak market image
B
Growing government regulation
C
Economy rebounding
D
Cost advantages
10) Which information is known when conducting a market analysis about the demand for a product?
A
Sales growth
B
Supply factor
C
Target market
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
8.50%
C
8.25%
D
9%
12) Which is an activity that a business performs when conducting a competitive analysis?
A
Sets productivity goals
B
Calculates economic data
C
Develops selling procedures
D
Monitors marketing strategies of rivals
*select an answer for all questions
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