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

Which of the following may be required in the marketing control process? setting long term goals assigning profit changing the action programs defining the mission discounting the causes of gaps in performance

Making more sales without changing a firm's products is ________. market development market growth market penetration product development market attractiveness

At Google, "we help you organize the world's information and make it universally accessible," is a product-oriented mission.

The ________ organizational format requires that a complete strategy and marketing program is developed and implemented for a specific brand. functional market management geographic product management customer management

If Under Armour, the successful maker of moisture-wicking shirts and shorts, considered introducing a line of Under Armour fitness equipment, the company would be considering ________. marketing controls market development diversification market penetration product adaptation

What is business portfolio planning? Discuss how a company might use the Boston Consulting Group's product portfolio analysis method.

What does the term "value-delivery network" mean? Explain.

A firm's mission statement should be the basis for both its business and marketing objectives.

Mountain Home Farms is now using the product/market expansion grid to develop strategies.The owners of the company have most likely found the grid to be quite useful for identifying ________. target markets growth opportunities key customers new products suppliers

Most portfolio analysis methods evaluate SBUs on two dimensions, namely ________ and ________. market share; strength of the SBU's position market or industry growth rate; market or industry attractiveness market or industry attractiveness; strength of the SBU's position market growth rate; profits market penetration; market development

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." Would you consider Fun-Spot's mission statement to be market oriented Explain.

Juanita Castro is looking at whether her company's strategies are well matched to its opportunities.Juanita is utilizing ________. marketing control operating control strategic control SWOT analysis marketing auditing

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." What role do service products play at Fun-Spot?

________ can be a company division, a product line within a division, or sometimes a single product or brand. A market The BCG An SBU A PLC A value delivery network

The four possible strategies that can be pursued for each SBU are building, holding, ________, and ________. harvesting; divesting promoting; selling downsizing; expanding diversifying; penetrating developing; growing

________ is the place a product occupies in the consumer's mind relative to competitors' products. Product placement Product position Market segmentation Market targeting Product promotion

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________. market targeting positioning marketing strategy market segmentation market extension

A company should consider downsizing when products of an SBU no longer fit the company's overall strategy.

Why should a mission statement be "motivating" instead of stated in terms of sales or profits?

Why is marketing implementation often difficult to carry out?