SEM II 4.05 - 4.06: Question Preview (ID: 25450)

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The marketing objectives that a business develops for its marketing plan should lead to a(n)
a) increase in prices.
b) increase in sales
c) decrease in costs
d) decrease in taxes.

What is a potential threat a manager might identify in a SWOT analysis?
a) Economy rebounding
b) Growing government regulation
c) Weak market image
d) Cost advantages

One of the purposes of conducting a market analysis is to develop a(n)
a) management team.
b) distribution plan
c) operating budget
d) customer profile

Once a SWOT analysis identifies an internal strength, a business can use that strength to take advantage of a(n)
a) operating procedure.
b) external opportunity
c) marketing strategy.
d) promotional technique

Which of the following is an activity that a business performs when conducting a competitive analysis:
a) Sets productivity goals
b) Monitors rivals' marketing strategies
c) Calculates economic data
d) Develops selling procedures

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) internal threat.
c) marketplace opportunity
d) product liability.

When a business develops a marketing plan, the objectives should be timely, measurable, and
a) general.
b) attainable
c) serviceable
d) impulsive

One way that a business can learn about its competitors' activities is by
a) evaluating Intranet efficiencies.
b) reviewing secondary data.
c) developing product specifications.
d) identifying communication barriers

When forecasting sales for marketing plans, businesses often rely on
a) supplier data.
b) general statistics
c) research information
d) operating reports

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

By conducting a competitive analysis, businesses often are able to determine if they have a
a) competitive advantage.
b) target market.
c) promotional plan.
d) security problem.

An important step in the process of developing a marketing plan involves selecting the
a) distribution agent.
b) target market
c) sales force
d) research strategy

Businesses usually analyze market potential for a certain product by considering total demand in a specific
a) research sample.
b) day of the week
c) geographical area.
d) social situation.

What do businesses often take into consideration when forecasting sales for marketing plans?
a) Company's profit goals
b) Quotas for salespeople
c) Location of regional territories
d) Competitors' market share

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) An attitude survey
c) Survey of buyer intentions
d) Customer-positioning analysis

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) 9.75%
b) 8.25%
c) 9%
d) 8.5%

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) target market
d) supply factor

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

In which of the following situations should a business consider its competitors' prices when developing a marketing plan:
a) Selecting a new supplier
b) Organizing a new division
c) Introducing a new product
d) Analyzing a new database

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) Two competitors have 65% of current market share.
d) Target market buys $500,000 worth of product each year.

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