Question 1

When a firm develops and maintains a strategic fit between its goals and capabilities,it is performing .

Accepted Answer

A) business- portfolio planning 
B) mission planning 
C) values planning 
D) strategic planning 
E) operations planning 
A) business- portfolio planning 
B) mission planning 
C) values planning 
D) strategic planning 
E) operations planning

Question 2

At Trader Joe's,"our mission is to bring all our customers the best food and beverage values to be found anywhere,and the information to make informed buying decisions." This is a
product- oriented business definition.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?

Accepted Answer

A) the BCG approach 
B) product line extension 
C) market redesign 
D) market segmentation 
E) downsizing 
A) the BCG approach 
B) product line extension 
C) market redesign 
D) market segmentation 
E) downsizing

Question 4

What is a strategic business unit (SBU)and how is it involved in a business portfolio analysis?

Accepted Answer

An SBU is a key part of a comp

Question 5

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called .

Accepted Answer

A) strategic control 
B) developmental control 
C) operating control 
D) efficiency 
E) marketing control 
A) strategic control 
B) developmental control 
C) operating control 
D) efficiency 
E) marketing control

Question 6

If Under Armour,the successful maker of moisture- wicking shirts and shorts,considered introducing a line of Under Armour fitness equipment,the company would be considering .

Accepted Answer

A) market penetration 
B) diversification 
C) market development 
D) product adaptation 
E) marketing controls 
A) market penetration 
B) diversification 
C) market development 
D) product adaptation 
E) marketing controls

Question 7

Ensuring that the company achieves the sales,profits,and other goals set out in its annual marketing plan is the purpose of .

Accepted Answer

A) ROMI 
B) a marketing audit 
C) strategic control 
D) operating control 
E) marketing control 
A) ROMI 
B) a marketing audit 
C) strategic control 
D) operating control 
E) marketing control

Question 8

In today's marketplace,competition increasingly takes place between entire value delivery networks rather than between individual competitors.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a useful tool for identifying growth opportunities?

Accepted Answer

A) the product/market expansion grid 
B) the BCG matrix 
C) the value delivery network 
D) the business portfolio 
E) the value chain 
A) the product/market expansion grid 
B) the BCG matrix 
C) the value delivery network 
D) the business portfolio 
E) the value chain

Question 10

The BCG is a useful approach to evaluate current businesses.Describe a method that a firm could use to identify future growth opportunities.

Accepted Answer

The product/market expansion grid is a u

Question 11

All of the following are examples of product- oriented mission statements EXCEPT which one?

Accepted Answer

A) "We sell shoes." 
B) "We rent hotel rooms." 
C) "We are an online video service." 
D) "We sell lifestyle and self- expression;success and status;memories,hopes,and dreams." 
E) "We run theme parks." 
A) "We sell shoes." 
B) "We rent hotel rooms." 
C) "We are an online video service." 
D) "We sell lifestyle and self- expression;success and status;memories,hopes,and dreams." 
E) "We run theme parks."

Question 12

A common practice among marketers is to identify and develop new markets for their existing products.This practice is called _.

Accepted Answer

A) market skimming 
B) dual adaptation 
C) market development 
D) market penetration 
E) product development 
A) market skimming 
B) dual adaptation 
C) market development 
D) market penetration 
E) product development

Question 13

The main section of the marketing plan presents a detailed analysis of the current marketing situation.

Accepted Answer

A) who,when,where 
B) competitor 
C) when,where,how 
D) economic 
E) SWOT 
A) who,when,where 
B) competitor 
C) when,where,how 
D) economic 
E) SWOT

Question 14

Why is marketing analysis such an important part of marketing management?

Accepted Answer

This function allows the marketer to ana

Question 15

All of the following are accurate guidelines for a company's mission statement EXCEPT which one?

Accepted Answer

A) A mission statement should motivate employees. 
B) A mission statement should emphasize the company's strengths in the marketplace. 
C) A mission statement should be narrow. 
D) A mission statement should be realistic. 
E) A mission statement should be specific. 
A) A mission statement should motivate employees. 
B) A mission statement should emphasize the company's strengths in the marketplace. 
C) A mission statement should be narrow. 
D) A mission statement should be realistic. 
E) A mission statement should be specific.

Question 16

Which of the following does NOT accurately reflect a problem with the BCG matrix approach?

Accepted Answer

A) It focuses on classifying current businesses. 
B) It is difficult to define SBUs and measure market share and growth. 
C) It can be time consuming to implement. 
D) It focuses on planning for the future. 
E) It can be costly to conduct. 
A) It focuses on classifying current businesses. 
B) It is difficult to define SBUs and measure market share and growth. 
C) It can be time consuming to implement. 
D) It focuses on planning for the future. 
E) It can be costly to conduct.

Question 17

Paul Pierce is busy working with other managers evaluating the products and businesses making up their company.Paul is engaged in _.

Accepted Answer

A) preparing a business portfolio 
B) marketing planning 
C) defining the company's mission statement 
D) marketing control 
E) portfolio analysis 
A) preparing a business portfolio 
B) marketing planning 
C) defining the company's mission statement 
D) marketing control 
E) portfolio analysis

Question 18

Why should a mission statement be market oriented instead of product or technology oriented?

Accepted Answer

A market- oriented mission sta

Question 19

Emerson Studios,a chain of 25 portrait stores in five states,has organized its marketing organization into groups headed by a sales manager,an advertising manager,and a customer- service manager.What type of organization is this?

Accepted Answer

A) functional 
B) customer 
C) geographic 
D) product 
E) market 
A) functional 
B) customer 
C) geographic 
D) product 
E) market

Question 20

Explain how a marketer of baking soda may attempt to attract more than one market segment.

Accepted Answer

Some consumers buy baking soda as a baki

When a firm develops and maintains a strategic fit between its goals and capabilities,it is performing .

At Trader Joe's,"our mission is to bring all our customers the best food and beverage values to be found anywhere,and the information to make informed buying decisions." This is a product- oriented business definition.

Which of the following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?

What is a strategic business unit (SBU)and how is it involved in a business portfolio analysis?

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called .

If Under Armour,the successful maker of moisture- wicking shirts and shorts,considered introducing a line of Under Armour fitness equipment,the company would be considering .

Ensuring that the company achieves the sales,profits,and other goals set out in its annual marketing plan is the purpose of .

In today's marketplace,competition increasingly takes place between entire value delivery networks rather than between individual competitors.

Which of the following is a useful tool for identifying growth opportunities?

The BCG is a useful approach to evaluate current businesses.Describe a method that a firm could use to identify future growth opportunities.

All of the following are examples of product- oriented mission statements EXCEPT which one?

A common practice among marketers is to identify and develop new markets for their existing products.This practice is called _.

The main section of the marketing plan presents a detailed analysis of the current marketing situation.

Why is marketing analysis such an important part of marketing management?

All of the following are accurate guidelines for a company's mission statement EXCEPT which one?

Which of the following does NOT accurately reflect a problem with the BCG matrix approach?

Paul Pierce is busy working with other managers evaluating the products and businesses making up their company.Paul is engaged in _.

Why should a mission statement be market oriented instead of product or technology oriented?

Emerson Studios,a chain of 25 portrait stores in five states,has organized its marketing organization into groups headed by a sales manager,an advertising manager,and a customer- service manager.What type of organization is this?

Explain how a marketer of baking soda may attempt to attract more than one market segment.

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

When a firm develops and maintains a strategic fit between its goals and capabilities,it is performing .

At Trader Joe's,"our mission is to bring all our customers the best food and beverage values to be found anywhere,and the information to make informed buying decisions." This is a product- oriented business definition.

Which of the following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?

What is a strategic business unit (SBU)and how is it involved in a business portfolio analysis?

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called .

If Under Armour,the successful maker of moisture- wicking shirts and shorts,considered introducing a line of Under Armour fitness equipment,the company would be considering .

Ensuring that the company achieves the sales,profits,and other goals set out in its annual marketing plan is the purpose of .

In today's marketplace,competition increasingly takes place between entire value delivery networks rather than between individual competitors.

Which of the following is a useful tool for identifying growth opportunities?

The BCG is a useful approach to evaluate current businesses.Describe a method that a firm could use to identify future growth opportunities.

All of the following are examples of product- oriented mission statements EXCEPT which one?

A common practice among marketers is to identify and develop new markets for their existing products.This practice is called _.

The main section of the marketing plan presents a detailed analysis of the current marketing situation.

Why is marketing analysis such an important part of marketing management?

All of the following are accurate guidelines for a company's mission statement EXCEPT which one?

Which of the following does NOT accurately reflect a problem with the BCG matrix approach?

Paul Pierce is busy working with other managers evaluating the products and businesses making up their company.Paul is engaged in _.

Why should a mission statement be market oriented instead of product or technology oriented?

Emerson Studios,a chain of 25 portrait stores in five states,has organized its marketing organization into groups headed by a sales manager,an advertising manager,and a customer- service manager.What type of organization is this?

Explain how a marketer of baking soda may attempt to attract more than one market segment.

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