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

________ refers to activities that communicate the merits of the product and persuade target customers to buy it.

Each company must divide up the total market, choose the best segments, and design strategies for profitably serving chosen segments. This process involves market segmentation, ________, differentiation, and positioning.

In a SWOT analysis, ________ include favorable trends in the external environment.

One valid criticism of the four Ps concept of the marketing mix is that services are not considered.

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

Companies that define their missions in terms of products or technologies are considered myopic primarily because ________.

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

Sunny Brews is a coffeehouse chain based in Boston. It recently introduced Eva, a mild roast, which became immensely popular. This exemplifies ________.

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

Mission statements should be ________.

Which of the following is NOT part of a company's decision about which customers it will serve and how?

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

Which of the following is NOT a market-oriented business definition?

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

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

Most standard portfolio analysis methods evaluate SBUs on the ________.

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.

A company's mission could appropriately be stated as "making more sales or profits."

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

Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________.