SEM II 4.05 Study Guide 1 Question Preview (ID: 37893)
SEM II 4.05 Study Guide 1 Questions 1-12.
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When it is conducting a competitive analysis a firm discovers a competitor's weakness. Which condition has the firm most likely uncovered?
a) Ethical disadvantage
b) Internal threat
c) Marketplace opportunity
d) Product liability
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) Size
b) Growth rate
c) Performance
d) Profitability
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
SWOT analysis is a technique for summarizing which components of a company?
a) Strengths, weaknesses, opportunities, and threats
b) Skills, workers, organizations, and teams
c) Strategy, wholesalers, objectives, and trademarks
d) Store, warranty, occupations, and tariffs
The marketing strategy of a marketing plan should include which component?
a) Proposed annual budget
b) Explanation of accounting methods
c) Detailed product description
d) List of current employees
The marketing objectives that a business develops for its marketing plan should lead to which situation?
a) Increased prices
b) Increased sales
c) Decreased costs
d) Decreased taxes
An important step in the process of developing a marketing plan involves selecting which component?
a) Distribution agent
b) Target market
c) Sales force
d) Research strategy
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
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
Which information is known when conducting a market analysis about the demand for a product?
a) Market potential
b) Sales growth
c) Target market
d) Supply factor
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) 9%
c) 8.50%
d) 8.25%
Which is an activity that a business performs when conducting a competitive analysis?
a) Sets productivity goals
b) Monitors marketing strategies of rivals
c) Calculates economic data
d) Develops selling procedures
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