Essentials of Marketing: a Marketing Strategy Planning

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Chapter 03
Evaluating Opportunities in the Changing Marketing Environment  

True / False Questions
 

1. The marketing manager can control the variables in the marketing environment.  True    False

 

2. Company objectives should shape the direction and operation of the whole business.  True    False

 

3. Earning a profit probably should be one of the objectives of a firm, but it should not be the only one.  True    False

 

4. A mission statement sets out the organization's basic purpose for being.  True    False

 

5. A mission statement can help a manager decide which opportunities to pursue and which to screen out.  True    False

 

6. A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.  True    False

 

7. A mission statement substitutes for more specific objectives.  True    False

 

8. Good marketing objectives should be ambitious and almost impossible to achieve.  True    False

 

9. The objectives of a firm should direct the operation of the marketing department, but aren't important to the rest of the business.  True    False

 

10. If the cost of production per unit goes down as the quantity produced increases, small producers can be at a great cost disadvantage.  True    False

 

11. As compared to larger competitors, smaller firms benefit from lower unit costs which they achieve with lower sales volumes.  True    False

 

12. Smaller producers always have a great advantage in competing with larger producers because of their flexibility.  True    False

 

13. Ownership of patents, a familiar brand name, and financial strength are some of the many resources of a firm that a manager should evaluate when searching for new opportunities.  True    False

 

14. Good relations with intermediaries, good locations, and good salespeople are some of the many resources of a firm that should be evaluated when searching for new opportunities.  True    False

 

15. The competitive environment affects the number and types of competitors the marketing manager must face and how they may behave.  True    False

 

16. When the competitive environment moves toward pure competition, producers offer very different products that consumers do not perceive as substitutes for each other.  True    False

 

17. Over the long run, most product-markets tend toward monopolistic competition.  True    False

 

18. In market-directed economies, unregulated monopolies are rare.  True    False

 

19. In monopolistic competition, one firm completely controls a broad product-market.  True    False

 

20. In monopolistic competition, managers sometimes try to differentiate very similar products by relying on promotion or other elements of the marketing mix.  True    False

 

21. Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.  True    False

 

22. The major shortcoming of competitor analysis is that it focuses on the weaknesses of competitors--but ignores their strengths.  True    False

 

23. The first step in a competitor analysis is to identify potential competitors.  True    False

 

24. Competitive barriers are conditions that make it difficult for a firm to compete in a market.  True    False

 

25. The Internet is a powerful way to get information about competitors.  True    False

 

26. The Internet is an important aspect of the technological environment, but it isn't very useful for getting information about competitors.  True    False

 

27. Many people think that it is unethical to spy on competitors to obtain their trade secrets, but it is perfectly legal.  True    False

 

28. Spying on competitors to obtain trade secrets raises moral issues but is not illegal.  True    False

 

29. The technological environment includes...
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