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

In a SWOT analysis, strengths and weaknesses refer to a firm's external environment, while opportunities and threats refer to the internal environment.

Most firms begin the strategic planning process by developing detailed marketing and departmental plans that support a company-wide plan.

Under Armour's recent expansion into the digital personal health and fitness tracking market through acquisitions of three fitness app companies is a ________ strategy.

"At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented mission statement.

A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets is called ________.

Design, packaging, service, and features are elements of the ________ component of a company's marketing mix.

A firm's marketing department must partner with other company departments to produce superior value for customers.

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?

Which of the following best describes the value chain of a company?

Should a company use the BCG matrix to classify its products or brands? Give reasons for your answer.

In a SWOT analysis, which of the following would most likely be considered a strength of a company?

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.

An SBU can be a company division or a product line within a division, but not a single product or brand.

"At Dodson, we sell shoes" is a market-oriented business definition.

In the marketing mix, product refers to activities that communicate the merits of a product and persuade target customers to buy it.

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________.

Nike's goal to increase sales of its running shoes by 25 percent during the first 6 months of the new fiscal year is an example of a ________.

Kawaii Electronics sells air conditioning systems for office buildings. The company's marketing department is currently structured as a functional organization. However, Kawaii is considering changing the structure to either a product management or a customer management organization. In a brief essay, describe each type of organization: functional, product management, and customer management. What are the advantages and/or disadvantages of each structure for Kawaii? Which structure do you recommend for Kawaii? Why?

The position of a strategic business unit in the growth-share matrix typically remains constant over time.

P&G's decision to eliminate dozens of major brands from its portfolio including Crisco, Folgers, and Jif to focus on household care, beauty, and grooming products is an example of ________.