Question 1

________ are a type of SBU that often require heavy investments to finance their rapid growth.

Accepted Answer

A)  Cash cows 
B)  Question marks 
C)  Stars 
D)  Dogs 
E)  Bears 
A)  Cash cows 
B)  Question marks 
C)  Stars 
D)  Dogs 
E)  Bears

Question 2

What is a strategic business unit (SBU)?

Accepted Answer

An SBU can be a company divisi

Question 3

Most standard portfolio analysis methods evaluate SBUs on the ________.

Accepted Answer

A)  potential for niche or global marketing 
B)  degree of product differentiation 
C)  strength of the market or industry position 
D)  accessibility to rural markets 
E)  number of successful business acquisitions 
A)  potential for niche or global marketing 
B)  degree of product differentiation 
C)  strength of the market or industry position 
D)  accessibility to rural markets 
E)  number of successful business acquisitions

Question 4

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.

Accepted Answer

A)  market penetration 
B)  product development 
C)  mass marketing 
D)  market development 
E)  product adaptation 
A)  market penetration 
B)  product development 
C)  mass marketing 
D)  market development 
E)  product adaptation

Question 5

Market development involves company growth by identifying and developing new market segments for current company products.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is true with regard to geographic organization?

Accepted Answer

A)  It is the most common form of marketing organization. 
B)  Different marketing activities are headed by a functional specialist. 
C)  It requires salespeople to have international experience. 
D)  It reduces the overall efficiency of salespeople. 
E)  It allows salespeople to work with a minimum of travel time and cost. 
A)  It is the most common form of marketing organization. 
B)  Different marketing activities are headed by a functional specialist. 
C)  It requires salespeople to have international experience. 
D)  It reduces the overall efficiency of salespeople. 
E)  It allows salespeople to work with a minimum of travel time and cost.

Question 7

On the BCG matrix, "question marks" are high-growth, high-share businesses or products.

Accepted Answer

A) True 
 B)False

Question 8

A product's position is the place it occupies relative to competitors' products in consumers' minds.

Accepted Answer

A) True 
 B)False

Question 9

A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review.

Accepted Answer

A)  budget 
B)  opportunity analysis 
C)  threat analysis 
D)  executive summary 
E)  action program 
A)  budget 
B)  opportunity analysis 
C)  threat analysis 
D)  executive summary 
E)  action program

Question 10

Many managers think that "doing things right," or ________, is as important as, or even more important than, "doing the right things."

Accepted Answer

A)  strategy 
B)  planning 
C)  positioning 
D)  implementation 
E)  targeting 
A)  strategy 
B)  planning 
C)  positioning 
D)  implementation 
E)  targeting

Question 11

Refer to the scenario below to answer the following questions.
Fun-Spot Fun Park began as a small amusement park in 1985. 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."
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even senior citizens who enjoy strolling through the gardens and the arbors.
"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 that has brought so many visitors," Gail added. "We provide a 'total package' of entertainment. Plus, we try to change our rides and various attractions from time to time for variety."
Ron and Gail Hart admitted that making every visitor happy is a priority. "That has always been our philosophy," they said. "Like the park's motto at the entrance reads, 'We're here to make you happy!' And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly."
-Fun-Spot's mission is ________.

Accepted Answer

A)  product oriented 
B)  technology oriented 
C)  market oriented 
D)  design oriented 
E)  narrowly focused on profits 
A)  product oriented 
B)  technology oriented 
C)  market oriented 
D)  design oriented 
E)  narrowly focused on profits

Question 12

How does strategic planning benefit companies?

Accepted Answer

Strategic planning sets the st

Question 13

Mission statements should be ________.

Accepted Answer

A)  meaningful and specific yet motivating 
B)  technology oriented 
C)  written solely for public relations purposes 
D)  focused on increasing sales or profits 
E)  strictly product oriented 
A)  meaningful and specific yet motivating 
B)  technology oriented 
C)  written solely for public relations purposes 
D)  focused on increasing sales or profits 
E)  strictly product oriented

Question 14

Refer to the scenario below to answer the following questions.
Fun-Spot Fun Park began as a small amusement park in 1985. 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."
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even senior citizens who enjoy strolling through the gardens and the arbors.
"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 that has brought so many visitors," Gail added. "We provide a 'total package' of entertainment. Plus, we try to change our rides and various attractions from time to time for variety."
Ron and Gail Hart admitted that making every visitor happy is a priority. "That has always been our philosophy," they said. "Like the park's motto at the entrance reads, 'We're here to make you happy!' And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly."
-The Fun-Spot represents a high-growth, high-share business. According to the BCG matrix, it can be classified as a ________.

Accepted Answer

A)  star 
B)  question mark 
C)  bear 
D)  cat 
E)  dog 
A)  star 
B)  question mark 
C)  bear 
D)  cat 
E)  dog

Question 15

Which of the following is a major advantage of the market organization?

Accepted Answer

A)  The company is organized around the needs of specific customer segments. 
B)  The company exploits bleeding-edge technologies to keep ahead in the market. 
C)  The company has a flat organizational structure. 
D)  The company allows its salespeople to settle into a specific territory. 
E)  The company caters to a single, small market segment. 
A)  The company is organized around the needs of specific customer segments. 
B)  The company exploits bleeding-edge technologies to keep ahead in the market. 
C)  The company has a flat organizational structure. 
D)  The company allows its salespeople to settle into a specific territory. 
E)  The company caters to a single, small market segment.

Question 16

During portfolio analysis, a company ________ after identifying the key businesses that make up the company.

Accepted Answer

A)  formulates a short-term marketing plan 
B)  assesses the attractiveness of its various SBUs 
C)  assesses its strengths and weaknesses 
D)  performs a SWOT analysis 
E)  assesses the effectiveness of its various channel intermediaries 
A)  formulates a short-term marketing plan 
B)  assesses the attractiveness of its various SBUs 
C)  assesses its strengths and weaknesses 
D)  performs a SWOT analysis 
E)  assesses the effectiveness of its various channel intermediaries

Question 17

Which of the following is NOT a step in the strategic planning process?

Accepted Answer

A)  defining the company mission 
B)  setting company objectives and goals 
C)  designing the business portfolio 
D)  planning marketing and other functional strategies 
E)  evaluating members of the company's value chain 
A)  defining the company mission 
B)  setting company objectives and goals 
C)  designing the business portfolio 
D)  planning marketing and other functional strategies 
E)  evaluating members of the company's value chain

Question 18

What are stars according to the BCG growth-share matrix?

Accepted Answer

Stars are high-growth, high-sh

Question 19

All of the following steps pertain to the marketing control process EXCEPT ________.

Accepted Answer

A)  setting goals 
B)  measuring performance 
C)  taking corrective action 
D)  defining the company's mission 
E)  evaluating the causes of gaps between expected and actual performance 
A)  setting goals 
B)  measuring performance 
C)  taking corrective action 
D)  defining the company's mission 
E)  evaluating the causes of gaps between expected and actual performance

Question 20

A company can ________ the SBU by selling it or phasing it out and using the resources elsewhere.

Accepted Answer

A)  divest 
B)  promote 
C)  expand 
D)  harvest 
E)  hold 
A)  divest 
B)  promote 
C)  expand 
D)  harvest 
E)  hold

________ are a type of SBU that often require heavy investments to finance their rapid growth.

What is a strategic business unit (SBU)?

Most standard portfolio analysis methods evaluate SBUs on the ________.

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.

Market development involves company growth by identifying and developing new market segments for current company products.

Which of the following is true with regard to geographic organization?

On the BCG matrix, "question marks" are high-growth, high-share businesses or products.

A product's position is the place it occupies relative to competitors' products in consumers' minds.

A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review.

Many managers think that "doing things right," or ________, is as important as, or even more important than, "doing the right things."

How does strategic planning benefit companies?

Mission statements should be ________.

Which of the following is a major advantage of the market organization?

During portfolio analysis, a company ________ after identifying the key businesses that make up the company.

Which of the following is NOT a step in the strategic planning process?

What are stars according to the BCG growth-share matrix?

All of the following steps pertain to the marketing control process EXCEPT ________.

A company can ________ the SBU by selling it or phasing it out and using the resources elsewhere.

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets 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

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

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

________ are a type of SBU that often require heavy investments to finance their rapid growth.

What is a strategic business unit (SBU)?

Most standard portfolio analysis methods evaluate SBUs on the ________.

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.

Market development involves company growth by identifying and developing new market segments for current company products.

Which of the following is true with regard to geographic organization?

On the BCG matrix, "question marks" are high-growth, high-share businesses or products.

A product's position is the place it occupies relative to competitors' products in consumers' minds.

A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review.

Many managers think that "doing things right," or ________, is as important as, or even more important than, "doing the right things."

How does strategic planning benefit companies?

Mission statements should be ________.

Which of the following is a major advantage of the market organization?

During portfolio analysis, a company ________ after identifying the key businesses that make up the company.

Which of the following is NOT a step in the strategic planning process?

What are stars according to the BCG growth-share matrix?

All of the following steps pertain to the marketing control process EXCEPT ________.

A company can ________ the SBU by selling it or phasing it out and using the resources elsewhere.

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets 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

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters