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

RedFin manufactures diving equipment that is highly regarded by customers worldwide. Each department in RedFin contributes to its success and can be thought of as a(n) ________.

FencePro, a local company, has developed an entirely new mounting system for chain link fences. After acquiring a distributor, FencePro now has the ability to market its products nationwide. FencePro is most likely following a ________ strategy.

The major activity in strategic planning is product innovation.

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

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

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.

________ provides a complete analysis of the company's situation.

In the marketing mix, design, packaging, services, and variety can be categorized under ________.

Market penetration involves offering modified or new products to current markets.

Which of the following is NOT something a company must determine when analyzing its current business portfolio?

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 ________.

A company's mission statement provides the depth needed for all segments of the company to reach their goals.

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

According to the Boston Consulting Group approach, ________ provides a measure of market attractiveness.

Describe the most common forms of marketing organizations.

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

Market segmentation can be best described as the process of ________.

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

Which of the following is the first step in strategic planning?

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