Question 51. After developing a mission statement, a firm or organization next must p

51. After developing a mission statement, a firm or organization next must perform:
A. relative market share division.
B. a situational analysis.
C. a market penetration strategy analysis.
D. a mission-accomplished ceremony.
E. cost-cutting surgery.

52. As part of her company’s SWOT analysis, Valerie is assessing the company’s internal environment, including:
A. strengths.
B. opportunities.
C. strengths and weaknesses.
D. threats.
E. opportunities and threats.

53. Samantha is charged with assessing her company’s external environment as part of a SWOT analysis. Samantha will study her company’s:
A. strengths.
B. opportunities.
C. strengths and weaknesses.
D. threats.
E. opportunities and threats.

54. Several years ago, the factory of the brake assembly supplier for Toyota burned, leaving Toyota with just a 24-hour supply of parts. The use of single-sources of supply is often a potential _________________ for a company.
A. weakness
B. opportunity
C. situational selling problem
D. threat
E. strategic business promotion efficiency

55. For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries create:
A. weaknesses
B. opportunities
C. situational buying problems.
D. threats.
E. strategic business production efficiencies

56. In 2006, Ford Motor Company announced it would severely cut back automobile production. For parts companies supplying Ford Motor this represented a:
A. weakness
B. opportunity
C. situational selling problem
D. threat
E. strategic business promotion efficiency

57. When identifying and evaluating opportunities, STP refers to:
A. simplification, teaching, and professing.
B. strategic, target, and preferences.
C. segmentation, targeting, and positioning.
D. situation, teamwork, and planning.
E. sustainable, temporary, and positions.

58. Lionel is asked to conduct an STP analysis for his firm. The first thing he will do is:
A. generate a sum of segments.
B. target potential targets.
C. reposition existing segments.
D. divide the marketplace into subgroups.
E. conduct a SWOT analysis.

59. Recently, Wal-Mart announced it would begin selling organic food products. In doing so, Wal-Mart is probably trying to:
A. gain government approval
B. attract a different market segment.
C. reduce lost sales to health food stores.
D. save the environment.
E. offset cost-based pricing pressure.

60. Martha is opening an upscale day spa. She would like to identify groups of potential high-income customers in her area but knows income data is often difficult to access. Instead, she might consider using:
A. educational achievement at area schools.
B. real estate values in various neighborhoods.
C. national census income data.
D. location of banks in her area.
E. shopping mall statistics.

61. For years, when considering new products, marketers at Celestial Seasonings would ask, “What will Stacy think?” Stacy represented 25-50 year old, educated, upper-income, infrequent television-watching, and heavy-reading women. Stacy was Celestial’s major:
A. target position.
B. product supporter.
C. SBU.
D. market segment.

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