Question 1

Define marketing strategy.Discuss the steps in formulating marketing strategy.

Accepted Answer

The marketing logic by which a company h

Question 2

The four Cs concept takes the buyer's view of the market.

Accepted Answer

A) True 
 B)False

Question 3

Multinationals like Honda Motor Co.and Walmart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality.This illustrates the importance of an efficient .

Accepted Answer

A) product mix 
B) value chain 
C) low- cost operator 
D) business portfolio 
E) value delivery network 
A) product mix 
B) value chain 
C) low- cost operator 
D) business portfolio 
E) value delivery network

Question 4

The organizational system's main advantage is that the company is organized around the needs of specific market segments.

Accepted Answer

A) geographic 
B) functional 
C) market management 
D) vertical 
E) product management 
A) geographic 
B) functional 
C) market management 
D) vertical 
E) product management

Question 5

The major activity in strategic planning is strategic business unit planning,whereby management evaluates the products and businesses making up the company.

Accepted Answer

A) True 
 B)False

Question 6

When the makers of a ballpoint pen state they are in the communication equipment business,they are defining their mission too _ .

Accepted Answer

A) specifically 
B) narrowly 
C) realistically 
D) broadly 
E) futuristically 
A) specifically 
B) narrowly 
C) realistically 
D) broadly 
E) futuristically

Question 7

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

Accepted Answer

A) mission statement 
B) strategic business unit 
C) business portfolio 
D) strategic plan 
E) operational factor 
A) mission statement 
B) strategic business unit 
C) business portfolio 
D) strategic plan 
E) operational factor

Question 8

To improve its value delivery network,a company needs to examine the value chains of its suppliers and distributors.

Accepted Answer

A) True 
 B)False

Question 9

A firm's mission statement should be the basis for both its business and marketing objectives.

Accepted Answer

A) True 
 B)False

Question 10

Fence Patrol has developed an entirely new mounting system for chain link fences.Although it is a local company,through the acquisition of a distributor it now has the ability to market its products nationwide.Fence Patrol is most likely following a _ strategy.

Accepted Answer

A) market development 
B) market penetration 
C) product development 
D) divesting 
E) downsizing 
A) market development 
B) market penetration 
C) product development 
D) divesting 
E) downsizing

Question 11

Define marketing planning.Briefly outline the major components in a marketing plan.

Accepted Answer

Marketing planning involves deciding on

Question 12

When an organization identifies and develops new markets for its current products and services,it is engaged in market development.

Accepted Answer

A) True 
 B)False

Question 13

When a firm finds products or businesses that no longer fit its overall strategy,it should carefully milk,harvest,or better develop them.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

Accepted Answer

A) A company is more able to change a weakness than a threat. 
B) A company can be more negatively affected by a threat than by a weakness. 
C) A company can be more negatively affected by a weakness than by a threat. 
D) A company can more easily identify threats than weaknesses. 
E) A company is more able to change a threat than a weakness. 
A) A company is more able to change a weakness than a threat. 
B) A company can be more negatively affected by a threat than by a weakness. 
C) A company can be more negatively affected by a weakness than by a threat. 
D) A company can more easily identify threats than weaknesses. 
E) A company is more able to change a threat than a weakness.

Question 15

Briefly discuss how marketers measure return on marketing investment,explaining why this figure can be difficult to assess.

Accepted Answer

Marketing ROI (return on investment)is t

Question 16

Effective positioning begins with the company's marketing offer in order to give consumers more perceived value.

Accepted Answer

A) aligning 
B) pricing 
C) differentiating 
D) placing 
E) promoting 
A) aligning 
B) pricing 
C) differentiating 
D) placing 
E) promoting

Question 17

Which of the following involves evaluating each market segment's attractiveness and selecting one or more segments to enter?

Accepted Answer

A) market segmentation 
B) differentiation 
C) market targeting 
D) positioning 
E) servicing 
A) market segmentation 
B) differentiation 
C) market targeting 
D) positioning 
E) servicing

Question 18

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

Accepted Answer

A) favorable factors in the environment 
B) internal limitations 
C) internal resources 
D) trends in the market 
E) factors that challenge the company's performance 
A) favorable factors in the environment 
B) internal limitations 
C) internal resources 
D) trends in the market 
E) factors that challenge the company's performance

Question 19

Most portfolio analysis methods evaluate SBUs on two dimensions,namely and .

Accepted Answer

A) market penetration;market development 
B) market share;strength of the SBU's position 
C) market or industry attractiveness;strength of the SBU's position 
D) market growth rates;profits 
E) market diversification;relative market share 
A) market penetration;market development 
B) market share;strength of the SBU's position 
C) market or industry attractiveness;strength of the SBU's position 
D) market growth rates;profits 
E) market diversification;relative market share

Question 20

Modern marketing departments are arranged in the following ways EXCEPT which one?

Accepted Answer

A) functional organization 
B) geographic organization 
C) strategic management organization 
D) market management organization 
E) product management organization 
A) functional organization 
B) geographic organization 
C) strategic management organization 
D) market management organization 
E) product management organization

Define marketing strategy.Discuss the steps in formulating marketing strategy.

The four Cs concept takes the buyer's view of the market.

Multinationals like Honda Motor Co.and Walmart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality.This illustrates the importance of an efficient .

The organizational system's main advantage is that the company is organized around the needs of specific market segments.

The major activity in strategic planning is strategic business unit planning,whereby management evaluates the products and businesses making up the company.

When the makers of a ballpoint pen state they are in the communication equipment business,they are defining their mission too _ .

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

To improve its value delivery network,a company needs to examine the value chains of its suppliers and distributors.

A firm's mission statement should be the basis for both its business and marketing objectives.

Fence Patrol has developed an entirely new mounting system for chain link fences.Although it is a local company,through the acquisition of a distributor it now has the ability to market its products nationwide.Fence Patrol is most likely following a _ strategy.

Define marketing planning.Briefly outline the major components in a marketing plan.

When an organization identifies and develops new markets for its current products and services,it is engaged in market development.

When a firm finds products or businesses that no longer fit its overall strategy,it should carefully milk,harvest,or better develop them.

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

Briefly discuss how marketers measure return on marketing investment,explaining why this figure can be difficult to assess.

Effective positioning begins with the company's marketing offer in order to give consumers more perceived value.

Which of the following involves evaluating each market segment's attractiveness and selecting one or more segments to enter?

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

Most portfolio analysis methods evaluate SBUs on two dimensions,namely and .

Modern marketing departments are arranged in the following ways EXCEPT which one?

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

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

Define marketing strategy.Discuss the steps in formulating marketing strategy.

The four Cs concept takes the buyer's view of the market.

Multinationals like Honda Motor Co.and Walmart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality.This illustrates the importance of an efficient .

The organizational system's main advantage is that the company is organized around the needs of specific market segments.

The major activity in strategic planning is strategic business unit planning,whereby management evaluates the products and businesses making up the company.

When the makers of a ballpoint pen state they are in the communication equipment business,they are defining their mission too _ .

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

To improve its value delivery network,a company needs to examine the value chains of its suppliers and distributors.

A firm's mission statement should be the basis for both its business and marketing objectives.

Fence Patrol has developed an entirely new mounting system for chain link fences.Although it is a local company,through the acquisition of a distributor it now has the ability to market its products nationwide.Fence Patrol is most likely following a _ strategy.

Define marketing planning.Briefly outline the major components in a marketing plan.

When an organization identifies and develops new markets for its current products and services,it is engaged in market development.

When a firm finds products or businesses that no longer fit its overall strategy,it should carefully milk,harvest,or better develop them.

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

Briefly discuss how marketers measure return on marketing investment,explaining why this figure can be difficult to assess.

Effective positioning begins with the company's marketing offer in order to give consumers more perceived value.

Which of the following involves evaluating each market segment's attractiveness and selecting one or more segments to enter?

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

Most portfolio analysis methods evaluate SBUs on two dimensions,namely and .

Modern marketing departments are arranged in the following ways EXCEPT which one?

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters