Question 1

When a company chooses to divest a particular strategic business unit, it ________.

Accepted Answer

A)  increases the advertising budget for that strategic business unit 
B)  invests more in the strategic business unit to build its market share 
C)  sells off or phases out the strategic business unit 
D)  invests just enough in the strategic business unit to keep its market share at the current level 
E)  gradually increases investment in the strategic business unit over time to maximize profits 
A)  increases the advertising budget for that strategic business unit 
B)  invests more in the strategic business unit to build its market share 
C)  sells off or phases out the strategic business unit 
D)  invests just enough in the strategic business unit to keep its market share at the current level 
E)  gradually increases investment in the strategic business unit over time to maximize profits

Question 2

Business portfolio analysis is defined as the process in which management ________.

Accepted Answer

A)  studies the products and strategies of competitors to improve the company's own products 
B)  analyzes consumer feedback in order to better position the company's brand image 
C)  assesses the attractiveness of an SBU's market and the strength of its position in the market 
D)  segments the company's markets to reach target consumers effectively 
E)  conducts marketing research to evaluate the company's marketing strategy 
A)  studies the products and strategies of competitors to improve the company's own products 
B)  analyzes consumer feedback in order to better position the company's brand image 
C)  assesses the attractiveness of an SBU's market and the strength of its position in the market 
D)  segments the company's markets to reach target consumers effectively 
E)  conducts marketing research to evaluate the company's marketing strategy

Question 3

Which of the following is true of marketing ROI?

Accepted Answer

A)  Marketing ROI uses only those marketing factors that can be measured in dollars. 
B)  Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention. 
C)  Marketing ROI is easier to calculate than financial ROI. 
D)  Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share. 
E)  Marketing ROI measures the profits generated by investments in marketing activities. 
A)  Marketing ROI uses only those marketing factors that can be measured in dollars. 
B)  Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention. 
C)  Marketing ROI is easier to calculate than financial ROI. 
D)  Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share. 
E)  Marketing ROI measures the profits generated by investments in marketing activities.

Question 4

Differentiate between the BCG matrix and the product/market expansion grid.

Accepted Answer

The Boston Consulting Group matrix evalu

Question 5

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing ________.

Accepted Answer

A)  analysis 
B)  implementation 
C)  control 
D)  planning 
E)  design 
A)  analysis 
B)  implementation 
C)  control 
D)  planning 
E)  design

Question 6

Both market penetration strategies and market development strategies primarily involve ________.

Accepted Answer

A)  selling a company's current products 
B)  modifying the company's product line 
C)  selling in new as well as existing markets 
D)  developing a new product 
E)  leaving the current market 
A)  selling a company's current products 
B)  modifying the company's product line 
C)  selling in new as well as existing markets 
D)  developing a new product 
E)  leaving the current market

Question 7

Which of the following best describes a marketing department with a functional organization?

Accepted Answer

A)  A company creates large teams, or even whole divisions, to serve domestic and international markets. 
B)  Marketing managers are responsible for developing marketing strategies and plans for their specific markets or customers, and the company is organized around the needs of specific customer segments. 
C)  A product manager develops and implements a complete strategy and marketing program for a specific product or brand. 
D)  Sales and marketing people are assigned to specific countries, regions, and districts. 
E)  Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers. 
A)  A company creates large teams, or even whole divisions, to serve domestic and international markets. 
B)  Marketing managers are responsible for developing marketing strategies and plans for their specific markets or customers, and the company is organized around the needs of specific customer segments. 
C)  A product manager develops and implements a complete strategy and marketing program for a specific product or brand. 
D)  Sales and marketing people are assigned to specific countries, regions, and districts. 
E)  Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers.

Question 8

When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix.

Accepted Answer

A)  people 
B)  price 
C)  product 
D)  promotion 
E)  place 
A)  people 
B)  price 
C)  product 
D)  promotion 
E)  place

Question 9

Under Armour's decision to add athletic shoes to its apparel line in 2006 is an example of a ________ strategy.

Accepted Answer

A)  market penetration 
B)  market development 
C)  downsizing 
D)  diversification 
E)  product development 
A)  market penetration 
B)  market development 
C)  downsizing 
D)  diversification 
E)  product development

Question 10

Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the ________ component of its marketing mix.

Accepted Answer

A)  promotion 
B)  price 
C)  product 
D)  packaging 
E)  place 
A)  promotion 
B)  price 
C)  product 
D)  packaging 
E)  place

Question 11

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?

Accepted Answer

A)  Blue - a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily 
B)  Electra - a home entertainment system that has a strong market share in a market that is likely to expand in the future 
C)  Jump - an MP3 player that has a high market share in a market that is not expected to grow significantly 
D)  SpinDrive - a car audio system that has a high market share in a market that has been growing constantly 
E)  SoLo - a CD player that has a very low market share in a market that is shrinking rapidly 
A)  Blue - a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily 
B)  Electra - a home entertainment system that has a strong market share in a market that is likely to expand in the future 
C)  Jump - an MP3 player that has a high market share in a market that is not expected to grow significantly 
D)  SpinDrive - a car audio system that has a high market share in a market that has been growing constantly 
E)  SoLo - a CD player that has a very low market share in a market that is shrinking rapidly

Question 12

In the marketing mix, product includes the goods and services the company offers to the target market, while promotion includes advertising.

Accepted Answer

A) True 
 B)False

Question 13

Managing the marketing function begins with a complete analysis of the company's situation. A thorough ________ is typically undertaken to guide decision making.

Accepted Answer

A)  situation analysis 
B)  internal assessment 
C)  industry overview 
D)  SWOT analysis 
E)  portfolio analysis 
A)  situation analysis 
B)  internal assessment 
C)  industry overview 
D)  SWOT analysis 
E)  portfolio analysis

Question 14

Explain how a company's value chain works. Provide an example to illustrate your response.

Accepted Answer

(Students' answers may vary. The answer

Question 15

Many SBUs start out as stars and move into the question mark category if they succeed.

Accepted Answer

A) True 
 B)False

Question 16

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

Accepted Answer

A)  marketing strategy 
B)  marketing objective 
C)  strategic plan 
D)  mission statement 
E)  market portfolio 
A)  marketing strategy 
B)  marketing objective 
C)  strategic plan 
D)  mission statement 
E)  market portfolio

Question 17

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy?

Accepted Answer

A)  Ainsworth increases its spending on advertising and promotion. 
B)  Ainsworth acquires the rights to manufacture toys resembling a popular cartoon character. 
C)  Ainsworth introduces its toys in the Indian and South-East Asian markets. 
D)  Ainsworth enters the U.S. market with a line of children's clothing. 
E)  Ainsworth develops a new line of educational toys targeting its current market. 
A)  Ainsworth increases its spending on advertising and promotion. 
B)  Ainsworth acquires the rights to manufacture toys resembling a popular cartoon character. 
C)  Ainsworth introduces its toys in the Indian and South-East Asian markets. 
D)  Ainsworth enters the U.S. market with a line of children's clothing. 
E)  Ainsworth develops a new line of educational toys targeting its current market.

Question 18

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of a ________ strategy.

Accepted Answer

A)  market penetration 
B)  market development 
C)  product diversification 
D)  business harvesting 
E)  product development 
A)  market penetration 
B)  market development 
C)  product diversification 
D)  business harvesting 
E)  product development

Question 19

In the 4Ps of the marketing mix, promotion refers solely to advertising.

Accepted Answer

A) True 
 B)False

Question 20

The growth rate of a strategic business unit that is classified as a star remains constant over time.

Accepted Answer

A) True 
 B)False

When a company chooses to divest a particular strategic business unit, it ________.

Business portfolio analysis is defined as the process in which management ________.

Which of the following is true of marketing ROI?

Differentiate between the BCG matrix and the product/market expansion grid.

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing ________.

Both market penetration strategies and market development strategies primarily involve ________.

Which of the following best describes a marketing department with a functional organization?

When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix.

Under Armour's decision to add athletic shoes to its apparel line in 2006 is an example of a ________ strategy.

Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the ________ component of its marketing mix.

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?

In the marketing mix, product includes the goods and services the company offers to the target market, while promotion includes advertising.

Managing the marketing function begins with a complete analysis of the company's situation. A thorough ________ is typically undertaken to guide decision making.

Explain how a company's value chain works. Provide an example to illustrate your response.

Many SBUs start out as stars and move into the question mark category if they succeed.

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy?

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of a ________ strategy.

In the 4Ps of the marketing mix, promotion refers solely to advertising.

The growth rate of a strategic business unit that is classified as a star remains constant over time.

Marketing: Creating Customer Value and Engagement

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters

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

When a company chooses to divest a particular strategic business unit, it ________.

Business portfolio analysis is defined as the process in which management ________.

Which of the following is true of marketing ROI?

Differentiate between the BCG matrix and the product/market expansion grid.

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing ________.

Both market penetration strategies and market development strategies primarily involve ________.

Which of the following best describes a marketing department with a functional organization?

When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix.

Under Armour's decision to add athletic shoes to its apparel line in 2006 is an example of a ________ strategy.

Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the ________ component of its marketing mix.

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?

In the marketing mix, product includes the goods and services the company offers to the target market, while promotion includes advertising.

Managing the marketing function begins with a complete analysis of the company's situation. A thorough ________ is typically undertaken to guide decision making.

Explain how a company's value chain works. Provide an example to illustrate your response.

Many SBUs start out as stars and move into the question mark category if they succeed.

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy?

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of a ________ strategy.

In the 4Ps of the marketing mix, promotion refers solely to advertising.

The growth rate of a strategic business unit that is classified as a star remains constant over time.

Marketing: Creating Customer Value and Engagement

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters