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

The marketing mix consists of people, property, planning, and position.

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

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ________.

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

Refer to the scenario below to answer the following question(s). 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 ________.

Which of the following is true of the BCG matrix approach?

What is a strategic business unit (SBU)?

What are some of the problems associated with matrix approaches?

________ measures the profits generated by investments in marketing activities.

What type of strategy should a company use to manage its cash cows?

The main section of the marketing plan most likely presents a detailed ________ analysis of the current marketing situation.

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

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

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

Distinguish between market segmentation and market targeting.

By harvesting its SBU, a company would most likely be ________.

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

An American airline company started a grocery chain in Australia. This is an example of product development.

What factors determine the success of a company's value chain?