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

Product refers to the goods-and-services combination that a company offers to its target market.

________ are low-share business units in high-growth markets that require a lot of cash to hold their share.

The purpose of ________ is to ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan.

Which of the following is true with regard to a market segment?

What is the main purpose of the executive summary in a marketing plan?

The best business portfolio is the one that ________.

The collection of businesses and products that make up a company is called its ________.

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 Fun Park represents a high-growth, high-share business. According to the BCG matrix, it can be classified as a ________.

A ________ documents an organization's purpose-what it wants to accomplish in the larger environment.

Which of the following is true with regard to strategic planning?

Which of the following is true with regard to the product/expansion grid?

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

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

What is a marketing strategy? How do marketing strategies help firms?

Making more sales to current customers without changing a firm's products is known as ________.

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

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

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 ________.

Which of the following is true with regard to cash cows?

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 ________.