Question 1

Into what BCG quadrant does a high- share,high- growth SBU fall?

Accepted Answer

It falls i

Question 2

In a basic SWOT analysis the "T" stands for _.

Accepted Answer

A) tangible 
B) trade 
C) timing 
D) trust 
E) threats 
A) tangible 
B) trade 
C) timing 
D) trust 
E) threats

Question 3

An increasingly large number of firms are changing their organizational focus from _ to .

Accepted Answer

A) global management;regional management 
B) brand management;customer management 
C) product management;geographic management 
D) product management;functional management 
E) geographic management;functional management 
A) global management;regional management 
B) brand management;customer management 
C) product management;geographic management 
D) product management;functional management 
E) geographic management;functional management

Question 4

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."
-Which of the following would be classified as an opportunity in a SWOT analysis of Fun- Spot?

Accepted Answer

A) Fun- Spot employees tend to be enthusiastic and young,projecting an image of fun and vitality at Fun- Spot. 
B) A rival amusement park announces plans to open three new rides next season. 
C) A new luxury hotel is being constructed in the area,with the aim of luring more high- spending families on vacation. 
D) Fun- Spot plans to further diversify its offerings by beginning a two- week summer camp for elementary school students. 
E) Gail and Ron have paid off the mortgage on Fun- Spot,significantly reducing their monthly expenses. 
A) Fun- Spot employees tend to be enthusiastic and young,projecting an image of fun and vitality at Fun- Spot. 
B) A rival amusement park announces plans to open three new rides next season. 
C) A new luxury hotel is being constructed in the area,with the aim of luring more high- spending families on vacation. 
D) Fun- Spot plans to further diversify its offerings by beginning a two- week summer camp for elementary school students. 
E) Gail and Ron have paid off the mortgage on Fun- Spot,significantly reducing their monthly expenses.

Question 5

Describe some of the problems with matrix approaches.

Accepted Answer

The BCG and other portfolio planning app

Question 6

Mission statements should be realistic and general in nature.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is the process of dividing a market into distinct groups of buyers with different needs,characteristics,or behaviors?

Accepted Answer

A) market segmentation 
B) differentiation 
C) marketing strategy 
D) market targeting 
E) positioning 
A) market segmentation 
B) differentiation 
C) marketing strategy 
D) market targeting 
E) positioning

Question 8

A company's mission statement serves as a statement of _.

Accepted Answer

A) fact 
B) purpose 
C) financial goals 
D) sustainability 
E) employee commitment 
A) fact 
B) purpose 
C) financial goals 
D) sustainability 
E) employee commitment

Question 9

While a valuable planning tool,the BCG matrix is problematic in that it focuses on _ .

Accepted Answer

A) the present instead of the future 
B) the future instead of the present 
C) the past instead of the present 
D) financial issues instead of the customer 
E) the customer instead of suppliers 
A) the present instead of the future 
B) the future instead of the present 
C) the past instead of the present 
D) financial issues instead of the customer 
E) the customer instead of suppliers

Question 10

The pharmaceuticals division of Omni Healthcare holds low market share in a high- growth market.In order to increase market share,managers would be most likely to decide which of the following?

Accepted Answer

A) implement a harvest strategy 
B) diversify the pharmaceutical division 
C) use money from a cash cow to promote the pharmaceuticals division 
D) hold the pharmaceuticals division's share 
E) divest the SBU 
A) implement a harvest strategy 
B) diversify the pharmaceutical division 
C) use money from a cash cow to promote the pharmaceuticals division 
D) hold the pharmaceuticals division's share 
E) divest the SBU

Question 11

Guided by marketing strategy,the company designs a marketing mix made up of factors under its control: product,price,place,and promotion.

Accepted Answer

A) True 
 B)False

Question 12

According to your text,which department in a company carries the primary responsibility for achieving profitable growth?

Accepted Answer

A) product development 
B) operations 
C) accounting 
D) human resources 
E) marketing 
A) product development 
B) operations 
C) accounting 
D) human resources 
E) marketing

Question 13

Which of the following is the place a product occupies in the consumer's mind relative to competition?

Accepted Answer

A) placement 
B) market segmentation 
C) position 
D) market targeting 
E) product promotion 
A) placement 
B) market segmentation 
C) position 
D) market targeting 
E) product promotion

Question 14

Your firm is attempting to divide up the total market to determine the best segments it can serve.Which is the correct order of doing so?

Accepted Answer

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

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Revlon has clearly defined its "mission" of selling lifestyle and self- expression.In order for the firm to launch its strategic plan,the mission needs to next be turned into detailed _ that guide each level of the company.

Accepted Answer

A) sets of tactics 
B) sets of strategies 
C) sets of promotional tools 
D) supporting objectives 
E) product mixes 
A) sets of tactics 
B) sets of strategies 
C) sets of promotional tools 
D) supporting objectives 
E) product mixes

Question 17

A marketing plan begins with a(n)_ ,which quickly overviews goals and recommendations.

Accepted Answer

A) action program 
B) ROI 
C) SWOT analysis 
D) executive summary 
E) marketing dashboard 
A) action program 
B) ROI 
C) SWOT analysis 
D) executive summary 
E) marketing dashboard

Question 18

In the BCG matrix,"dogs" are low- growth businesses and products that do not generate enough cash to maintain themselves.

Accepted Answer

A) True 
 B)False

Question 19

Today the four Ps are compared to the four Cs.Product and place are called and ,respectively.

Accepted Answer

A) customer solution;convenience 
B) communication;convenience 
C) convenience;customer solution 
D) communication;customer solution 
E) customer cost;convenience 
A) customer solution;convenience 
B) communication;convenience 
C) convenience;customer solution 
D) communication;customer solution 
E) customer cost;convenience

Question 20

For Hyundai Corporation,customers who care about the price of a car and its operating economy make up one .

Accepted Answer

A) market position 
B) value chain 
C) value network 
D) customer extension 
E) market segment 
A) market position 
B) value chain 
C) value network 
D) customer extension 
E) market segment

Into what BCG quadrant does a high- share,high- growth SBU fall?

In a basic SWOT analysis the "T" stands for _.

An increasingly large number of firms are changing their organizational focus from _ to .

Describe some of the problems with matrix approaches.

Mission statements should be realistic and general in nature.

Which of the following is the process of dividing a market into distinct groups of buyers with different needs,characteristics,or behaviors?

A company's mission statement serves as a statement of _.

While a valuable planning tool,the BCG matrix is problematic in that it focuses on _ .

The pharmaceuticals division of Omni Healthcare holds low market share in a high- growth market.In order to increase market share,managers would be most likely to decide which of the following?

Guided by marketing strategy,the company designs a marketing mix made up of factors under its control: product,price,place,and promotion.

According to your text,which department in a company carries the primary responsibility for achieving profitable growth?

Which of the following is the place a product occupies in the consumer's mind relative to competition?

Your firm is attempting to divide up the total market to determine the best segments it can serve.Which is the correct order of doing so?

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

Revlon has clearly defined its "mission" of selling lifestyle and self- expression.In order for the firm to launch its strategic plan,the mission needs to next be turned into detailed _ that guide each level of the company.

A marketing plan begins with a(n)_ ,which quickly overviews goals and recommendations.

In the BCG matrix,"dogs" are low- growth businesses and products that do not generate enough cash to maintain themselves.

Today the four Ps are compared to the four Cs.Product and place are called and ,respectively.

For Hyundai Corporation,customers who care about the price of a car and its operating economy make up 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

Into what BCG quadrant does a high- share,high- growth SBU fall?

In a basic SWOT analysis the "T" stands for _.

An increasingly large number of firms are changing their organizational focus from _ to .

Describe some of the problems with matrix approaches.

Mission statements should be realistic and general in nature.

Which of the following is the process of dividing a market into distinct groups of buyers with different needs,characteristics,or behaviors?

A company's mission statement serves as a statement of _.

While a valuable planning tool,the BCG matrix is problematic in that it focuses on _ .

The pharmaceuticals division of Omni Healthcare holds low market share in a high- growth market.In order to increase market share,managers would be most likely to decide which of the following?

Guided by marketing strategy,the company designs a marketing mix made up of factors under its control: product,price,place,and promotion.

According to your text,which department in a company carries the primary responsibility for achieving profitable growth?

Which of the following is the place a product occupies in the consumer's mind relative to competition?

Your firm is attempting to divide up the total market to determine the best segments it can serve.Which is the correct order of doing so?

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

Revlon has clearly defined its "mission" of selling lifestyle and self- expression.In order for the firm to launch its strategic plan,the mission needs to next be turned into detailed _ that guide each level of the company.

A marketing plan begins with a(n)_ ,which quickly overviews goals and recommendations.

In the BCG matrix,"dogs" are low- growth businesses and products that do not generate enough cash to maintain themselves.

Today the four Ps are compared to the four Cs.Product and place are called and ,respectively.

For Hyundai Corporation,customers who care about the price of a car and its operating economy make up 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