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

Explain why,according to the authors of your text,the four Ps concept of the marketing mix takes a seller's view of the market,not the buyer's view.How should marketers consider the buyer's view?

Business portfolio planning involves two steps: and .

The marketing control process entails the following steps in order: setting goals,_,evaluating performance,and .

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets.Each business is called a _ .

IBM has its sales and marketing people assigned to markets in specific countries,regions,and districts.This is an example of which type of marketing organization?

Refer to the scenario below to answer the following questions. 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 arbor. "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 it says on the entrance to the park,'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." -Into which quadrant of the BCG matrix does Fun- Spot fall?

Mission statements should both emphasize the company's strengths in the marketplace and be motivating.

The marketing mix consists of product,price,place,positioning,and promotion.

Which of the following measures the profits generated by investments in marketing activities?

Which of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment?

Berman Electric,a chain of 18 appliance stores,has a marketing organization in which specialists head different marketing activities.What is this type of organization called?

Monsanto operates in many businesses,including pharmaceuticals and food products.The company defines its as creating "abundant food and a healthy environment."

In the Boston Consulting Group approach,provides a measure of market attractiveness.

Walmart relies on sound relationships with its low- cost suppliers in order to pass low prices on to consumers.Thus,forming a is crucial to Walmart's success.

Starbucks has introduced a debit card that lets customers prepay for coffee and snacks.This effort by Starbucks management is an example of _.

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

The image of a product in the minds of consumers is called market segmentation.

Why are many marketers today using customer- centered measures of marketing ROI?

Why should a mission statement be "motivating" instead of stated in terms of sales or profits?

A sound marketing strategy begins with which of the following?