SEM II 4.05 - 4.06 Part B Question Preview (ID: 25466)

SEM II 4.05 - 4.06 Part B. TEACHERS: click here for quick copy question ID numbers.

SWOT analysis is a technique for summarizing a company's
a) strengths, weaknesses, opportunities, and threats.
b) skills, workers, organizations, and teams.
c) strategy, wholesalers, objectives, and trademarks.
d) store, warranty, occupations, and tariffs.

A SWOT analysis indicates that customers' buying preferences are changing, but the business has a very limited product line. This is an example of an
a) internal weakness compensating for an external threat.
b) internal strength responding to an external threat.
c) external threat attacking an internal weakness.
d) external opportunity coinciding with an internal strength

Which of the following is a factor that businesses often consider when conducting a market analysis:
a) Location of the test market
b) Size of the market next year
c) Safety of the research process
d) Design of the questionnaire

Forecasting sales for marketing plans is important because the forecast is used as a
a) standard of measurement.
b) type of research
c) method of communication
d) compilation of data

Which of the following is a factor that new businesses consider when conducting an analysis of competitors in a specific market:
a) Product quality and price
b) Size and availability of space
c) Cost of supplies and equipment
d) Industry research and training

As part of its market analysis, the SVM Company estimates the increases in demand for its products over a set time frame for a particular market segment. The SVM Company is attempting to analyze the market's
a) size.
b) growth rate
c) performance
d) profitability

The marketing strategy component of a marketing plan should include a(n)
a) proposed annual budget.
b) explanation of accounting methods.
c) detailed product description
d) list of current employees

Which of the following is a question that a business should ask when evaluating the performance of its marketing plan:
a) Is it feasible to expand the business?
b) Are the purchasing policies appropriate?
c) Are the objectives being achieved?
d) Is the record-keeping system efficient?

When evaluating the performance of a marketing plan, what might a business do if performance fails to achieve the objectives?
a) Analyze the situation
b) Revise the sales forecast
c) Develop a mission statement
d) Blame the competition

When monitoring its marketing activities, a business might need to take corrective action if
a) sales marginally exceed goals.
b) economic conditions change.
c) market trends remain consistent
d) service levels are satisfactory

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