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

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"At Dodson,we sell shoes" is a market-oriented business definition.

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According to the text,an organization's mission statement should emphasize its intentions toward customers and the customer experience the organization seeks to create.

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ToyTrain is a toy company that sells its products in most regions of the United States.It produces a variety of toys for children of every age group,from toddlers to preteens.What are ToyTrain's options for organizing its marketing department? Briefly describe each structure as it would apply to Toy Train.Which organization do you think would be best for ToyTrain? Why?

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(Students' answers may vary.The answer given below is indicative.)
Modern marketing departments can be arranged in several ways.The most common form of marketing organization is the functional organization.
Under a functional organization,different marketing activities are headed by a functional specialist-a sales manager,an advertising manager,a marketing research manager,a customer-service manager,or a new product manager.As ToyTrain is based only in the United States,a functional organization may be appropriate if marketing strategies and messages need to be consistent across the region.Under a geographic organization,sales and marketing people are assigned to specific countries,regions,and districts.A company that sells across a country could benefit from a geographic organization.As ToyTrain sells products across the country,organizing its sales and marketing personnel by region may also be appropriate.
Under a product management organization,a product manager develops and implements a complete strategy and marketing program for a specific product or brand.Unless the company has a few standout brands,this system will not benefit it as much as other methods.
Under a market or customer management organization,the company is organized around the needs of specific customer segments.In firms that use this organization,one product line is sold to many different types of markets and customers that have different needs and preferences.ToyTrain could use this method and organize its departments according to the age groups of the children it caters to and the types of toys suitable for each group.
The company could also use some combination of these organizational forms.

Which of the following best describes a company's business portfolio?

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Both product development strategies and diversification strategies involve ________.

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Should a company use the BCG matrix to classify its products or brands? Give reasons for your answer.

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"At CL Online,we create customer connectivity,anytime,anywhere" is a product-oriented mission statement.

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In a SWOT analysis,________ refer to unfavorable external factors or trends that may present challenges to performance.

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Which of the following will most likely be included in the "place" component of a company's marketing mix?

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Which of the following is true of strategic planning in a firm?

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Which of the following best describes the value chain of a company?

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________ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

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The growth rate of a strategic business unit that is classified as a star remains constant over time.

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An SBU can be a company division or a product line within a division,but not a single product or brand.

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Define marketing planning.Briefly outline what a company should cover in its marketing plan.

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Which of the following companies is using a divesting strategy?

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A tool for identifying growth opportunities is the product/market expansion grid.

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In a SWOT analysis,strengths and weaknesses refer to a firm's external environment,while opportunities and threats refer to the internal environment.

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A company can offer greater customer value by either charging lower prices than competitors or offering more benefits to justify higher prices.

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

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