SEM II 4.05 Study Guide 2 Question Preview (ID: 37898)


SEM II 4.05 Study Guide 2 13-27. TEACHERS: click here for quick copy question ID numbers.

Once a SWOT analysis identifies an internal strength, a business can use that strength to take advantage of which option?
a) Operating procedure
b) External opportunity
c) Marketing strategy
d) Promotional technique

When a business develops a marketing plan, the objectives should be timely, measurable, and which other feature?
a) General
b) Attainable
c) Serviceable
d) Impulsive

Which 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

One of the purposes of conducting a market analysis is to develop which component?
a) Management team
b) Distribution plan
c) Operating budget
d) Customer profile

Which 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

Which 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

Forecasting sales for marketing plans is important because the forecast is used as which component?
a) Standard of measurement
b) Type of research
c) Method of communication
d) Compilation of data

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

Businesses usually analyze market potential for a certain product by considering total demand for which component?
a) Research sample
b) Day of the week
c) Geographical area
d) Social situation

Which situation should a business consider prices of its competitors 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

A SWOT analysis indicates that the buying preferences are changing, but the business has a very limited product line. This is an example of which situation?
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.

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) A survey of buyer intentions
d) Customer-positioning analysis

When forecasting sales for marketing plans, businesses often rely on which component?
a) Supplier data
b) General statistics
c) Research information
d) Operating reports

One way that a business can learn about activities of its competitors is by performing which activity?
a) Evaluating Intranet efficiencies
b) Reviewing secondary data
c) Developing product specifications
d) Identifying communication barriers

In which situation 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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