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

What are the various components of the value delivery network of a company?

Operating control involves checking ongoing performance against the annual plan and taking corrective action when necessary.

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

Benchmarking refers to the process that turns marketing plans into marketing actions to accomplish strategic marketing objectives.

________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

Rob has been asked by his manager to identify a group of potential customers who would respond in a similar way to a given set of marketing efforts. In this instance, Rob has been asked to identify a ________.

Describe the most common forms of marketing organizations.

Modern strategic planning ________.

Which of the following is a market-oriented mission statement?

A company's mission should be stated as making more sales or profits.

In the context of a company's marketing mix, ________ includes company activities that make the product available to target consumers.

Define market penetration.

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is known as market diversification.

Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of ________.

What are some of the problems associated with matrix approaches?

Mission statements should be market oriented and defined in terms of satisfying basic customer needs.

The major activity in strategic planning is product innovation.

The key businesses of Kimberley and Price consist of a division that produces and sells breakfast cereals and another that manufactures gardening tools. Each of these businesses is called a ________.