Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

In the BCG matrix, "dogs" by definition are businesses and products that do not generate enough cash to maintain themselves.

________ is the marketing logic by which a company hopes to achieve profitable customer relationships. Price Being a low-cost operator A consistent product mix Marketing strategy Implementing a differentiation strategy

One valid criticism of the four Ps concept is that services are not considered.

Starbucks has introduced a debit card that lets customers prepay for coffee and snacks.This effort by Starbucks management is an example of ________. market development product development diversification market penetration product adaptation

Walmart relies on sound relationships with its low-cost suppliers in order to pass low prices on to consumers.Thus, forming a ________ is crucial to Walmart's success. value delivery network growth-share matrix customer relationship management policy market concept philosophy diversification strategy

The ________ organizational system's main advantage is that the company is organized around the needs of specific market segments. product management market management geographic management vertical management functional management

Under the ________ organizational format of marketing departments, different marketing activities are headed by a specialist such as a sales manager, advertising manager, marketing research manager, or customer-service manager. geographic product management market management customer-centered functional

To improve its value delivery network, a company needs to examine the value chains of its suppliers and distributors.

The collection of businesses and products that make up a company is called its ________. strategic business unit mission statement strategic plan business portfolio operational factors

Which of the following is a customer-centered measure of marketing impact? customer management customer's acquisitions customer equity customer retention of promotions producer lifetime value

According to the product/market expansion grid, what strategy is a company following when it attempts to increase sales of current products to current customers?

When the makers of a ballpoint pen state they are in the communication equipment business, they are defining their mission too ________. narrowly realistically specifically broadly early

The BCG is a useful approach to evaluate current businesses.Describe a device that a firm could use to identify future growth opportunities.

Scenario Fun-Spot Fun Park began as a small amusement park in 1985.Starting with nothing more than a merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a popular family attraction with 20 rides, a restaurant, and an outdoor performing arts theater. My wife, Gail, and I didn't know what we were getting into," commented Ron Hart, the owner."We just knew that weekenders coming to the lakes in our rural area represented an untapped market." oday, thousands of visitors flock to Fun-Spot-families, children of all ages, and even senior citizens who enjoy strolling through the gardens and arbor. There's something here for everyone," Gail Hart said with a smile."Dozens of companies hold annual company picnics here.We have welcomed class field trips.And we even had one wedding here at the park!" Here's the funny thing," Ron chimed in."We really don't know why we've been so successful! There is nothing else like Fun-Spot Fun Park in the area.We were just lucky." I think it's the ambience of the park," Gail added, "that has brought so many visitors.We provide a 'total package' of entertainment.Plus, we try to change our rides and various attractions from time to time." on and Gail Hart admitted that making every visitor happy is a priority."That has always been our philosophy," they said."And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly." Into which quadrant of the BCG matrix does Fun-Spot fall Why?

With the rise of social media, two major challenges facing marketers today are __________. keeping up with the changing technology and learning how to use it keeping up with changing technology and choosing the best ones to use understanding how to use the tools in a way that achieves marketing goals and measuring the effects of social media programs understanding how to use the tools in a way that achieves marketing goals and interpreting the information gathered measuring the most effective tools for use and measuring the effects of social media programs

Define marketing planning.Briefly outline the major steps in a marketing plan.

The Bank of Ontario bought Pershing, an off-shore investment firm with operations in India, from Credit Suisse First Boston.The Bank of Ontario is pursuing a ________. product development strategy downsizing strategy diversification strategy market penetration strategy product adaptation

Which of the following is a useful tool for identifying growth opportunities? the BCG matrix the business portfolio the product/market expansion grid the value chain the value delivery network

A ________ defines a business in terms of satisfying basic customer needs. market-oriented mission statement product-oriented mission statement technology-oriented mission statement environment-oriented mission statement strategic plan

In the Boston Consulting Group approach, ________ provide(s) a measure of market attractiveness. relative market share SBUs cash cows market growth rate dogs