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

According to the BCG matrix, products or businesses with a low share of market in a high-growth industry are considered ________.

Holiday Inn divided the total customer market into smaller segments and selected the most promising segments. Deciding what position it wants to occupy in these segments is called diversification.

Which component of the marketing mix refers to the goods-and-services combination a company offers to its target market?

Define marketing planning. Briefly outline what a company should cover in its marketing plan.

A firm's decision to identify and develop new markets for existing products is a ________ strategy.

________ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix?

What is a business portfolio? How does a company typically conduct a portfolio analysis?

In the BCG matrix, ________ refer to low-growth, high-share businesses or products.

Many companies have dropped formal strategic planning models like the BCG because they can be difficult, time consuming, and costly to implement.

Marketers must practice constant marketing control to ensure that objectives are attained.

A company can offer greater customer value by either charging lower prices than competitors or offering more benefits to justify higher prices.

RTF Developers is a construction company with a presence in several countries. The company currently organizes its marketing department using a functional system of organization, but this seems inefficient. Explain why a geographic organization would benefit the company more than a functional organization.

Both product development strategies and diversification strategies involve ________.

In a SWOT analysis, ________ refer to favorable factors or trends in the external environment that a company may be able to exploit to its advantage.

BlueBear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy?

Greyzone, a company that creates customized household furniture, is based in Terrania and is looking to enter other countries as well. The company identifies the country of Nyevka as a good option because the entry barriers for new companies are low in Nyevka. Which statement indicates that Greyzone follows a diversification strategy?

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________.

Which of the following groups is included in both a company's value chain and its value delivery network?

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