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

Effective positioning begins with ________ the company's marketing offer in order to give consumers more perceived value. pricing aligning differentiating promoting placing

The text suggests that instead of thinking of selling products, marketers would be wise to take the customer's view and think of ________. providing convenience offering solutions to problems initiating two-way communication offering discounts connecting services and products

Acme, Inc., has modified the production processes of its widgets and gadgets in order to tap into the Eastern European market.Acme is likely following a ________ strategy. market penetration market development diversification harvesting product development

Which of the following is a reason that a firm might want to abandon products or markets? The market environment has changed, making a product more profitable. The firm has entered areas in which it does not have expertise. The economic climate is showing signs of recovery. The firm has grown too slowly. The firm has researched a foreign market which it has entered and it matches their domestic strategy.

What is a strategic business unit (SBU) and how is it involved in a business portfolio analysis?

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called ________. marketing control strategic control operating control developmental control efficiency

Which of the following is an example of a product-oriented mission statement? "At Home Depot, we empower consumers to achieve the homes of their dreams." "At Canada's Wonderland theme park, we create fantasies - a place where dreams come true." "At Nike, we bring innovation and inspiration to every athlete in the world.." "At Revlon, we sell lifestyle and self-expression; success and status; memories, hopes, and dreams." "At CP Hotels, we rent rooms."

Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be? objectives and goals mission statement business portfolio marketing and functional strategies operational strategies

Which of the following is an accurate guideline for a clear mission statement? A mission statement should focus on sales. A mission statement should act like an "invisible hand" that guides people in the organization. A mission statement should focus on profits. A mission statement should be very general. A mission statement should be very specific.

Jill Reno has researched new markets and has decided which segments to enter.Next she should decide what ________ her company should occupy in those segments. position place rank rating percentage of space

The marketing concept is best thought of as which of the following? a guiding philosophy for the company's marketing strategy a specific approach to building relationships with customers, vendors, and suppliers the overall purpose of the company the position the company's product holds in customers' minds the organization of the company's marketing department

Explain how a marketer of baking soda may attempt to attract more than one market segment.

________ involves looking at whether a company's basic strategies are well matched to its opportunities. Operating control Market management organization Marketing control Strategic control Distribution

Harris, the marketing manager at a small sports retail chain, has conducted a marketing analysis.He has investigated the company's internal resources and situational factors, as well as factors and trends in the competitive sports retail chain market.Which of the following has Harris completed? SWOT analysis business portfolio analysis executive summary marketing plan marketing mix

The BCG growth-share matrix classifies four types of SBUs.They are ________, ________, ________, and ________. product; price; promotion; placement sales; market share; price; promotion stars; cash cows; question marks; dogs planning; organizing; leading; controlling market penetration; market development; product development; diversification

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________. market development product development business portfolio value chain value delivery network

Marketing departments are organized in several ways.Compare and contrast the most common forms of marketing organizations.

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." How might Ron and Gail implement a market penetration strategy at Fun-Spot?

A vendor for Ford Motor Company received the following message from one of Ford's marketing managers: "As we move forward during the 21st century, it is incumbent upon us to inform you that Ford is committed to building profitable customer relationships by creating environmentally better cars and getting them to market faster at lower costs." The marketing manager is most likely referring to Ford's ________. vision statement market tactics business portfolio mission statement business objectives

Of the following, it is most important for marketers to develop ________ for their products. customer management organizations unique market positions market management organizations marketing ROI data marketing dashboards