Question 1

The product development strategy involves offering modified or new products to new markets.

Accepted Answer

A) True 
 B)False  False

Question 2

Ainsworth's is a toy manufacturer based in Australia.Which of the following indicates that the company is following a market development strategy?

Accepted Answer

A) Ainsworth's introduces a line of children's clothing in Australia. 
B) Ainsworth's licenses toy rights for a popular cartoon character in order to boost its sales. 
C) Ainsworth's introduces its toys in the Indian and South-East Asian markets. 
D) Ainsworth's enters the U.S. market with a line of children's clothing. 
E) Ainsworth's develops a range of educational toys and school supplies in its current market. 
A) Ainsworth's introduces a line of children's clothing in Australia. 
B) Ainsworth's licenses toy rights for a popular cartoon character in order to boost its sales. 
C) Ainsworth's introduces its toys in the Indian and South-East Asian markets. 
D) Ainsworth's enters the U.S. market with a line of children's clothing. 
E) Ainsworth's develops a range of educational toys and school supplies in its current market. C

Question 3

Discuss the four Ps of the typical marketing mix.Some people consider that there should be more than four aspects to the marketing mix.Suggest two additional aspects that the marketing mix could include.

Accepted Answer

The marketing mix is the set of tactical marketing tools that the firm blends to produce the response it wants in the target market.The marketing mix consists of everything the firm can do to influence the demand for its product.The many possibilities can be collected into four groups of variables-the four Ps.Product means the goods-and-services combination the company offers to the target market.Price is the amount of money customers must pay to obtain the product.Place includes company activities that make the product available to target consumers.Promotion refers to activities that communicate the merits of the product and persuade target customers to buy it.
Additional aspects of the marketing mix:(Students' answers to this part of the question may vary.The answer given here is merely indicative.)The other aspects could include market research,performance evaluation,etc.

Question 4

Renwith and Coleman is a public relations firm that needs to gauge its marketing performance for the year.The vice president of marketing is considering using the marketing ROI method,while the advertising manager says that this will not work for the company.Should Renwith and Coleman use the marketing ROI method? Explain why or why not.

Accepted Answer

(Students' answers may vary.The answer g

Question 5

A ________ is made up of the company,its suppliers,its distributors,and its customers,who partner with each other to improve the performance of the entire system.

Accepted Answer

A) value chain 
B) strategic business unit 
C) business portfolio 
D) value-delivery network 
E) growth-ratio matrix 
A) value chain 
B) strategic business unit 
C) business portfolio 
D) value-delivery network 
E) growth-ratio matrix

Question 6

Which of the following is a tool for monitoring strategic marketing performance?

Accepted Answer

A) a marketing plan 
B) a marketing dashboard 
C) BCG 
D) a product differentiation 
E) a value delivery network 
A) a marketing plan 
B) a marketing dashboard 
C) BCG 
D) a product differentiation 
E) a value delivery network

Question 7

Which of the following is true of the growth-share matrix?

Accepted Answer

A) A company should invest in a question mark rather than a dog. 
B) The positions of SBUs in the growth-share matrix do not change over time. 
C) Stars are those SBUs with a high market share in a market that does not have a high growth rate. 
D) All products go through all four categories of the BCG matrix over their life cycles. 
E) The most appropriate strategy for a question mark SBU is divestment. 
A) A company should invest in a question mark rather than a dog. 
B) The positions of SBUs in the growth-share matrix do not change over time. 
C) Stars are those SBUs with a high market share in a market that does not have a high growth rate. 
D) All products go through all four categories of the BCG matrix over their life cycles. 
E) The most appropriate strategy for a question mark SBU is divestment.

Question 8

Which of the following criteria does the Boston Consulting Group approach use to provide a measure of the company's strength in the market?

Accepted Answer

A) relative market share 
B) return on marketing investment 
C) market sentiment 
D) market growth rate 
E) marketing return on sales 
A) relative market share 
B) return on marketing investment 
C) market sentiment 
D) market growth rate 
E) marketing return on sales

Question 9

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

Accepted Answer

A) Divesting 
B) Diversification 
C) Market targeting 
D) Market mix 
E) Positioning 
A) Divesting 
B) Diversification 
C) Market targeting 
D) Market mix 
E) Positioning

Question 10

Marketing ROI measures the profits generated by investments in marketing activities.

Accepted Answer

A) True 
 B)False

Question 11

Explain why the four Ps concept of the marketing mix takes a seller's view of the market,not the buyer's view.Why should marketers consider the buyer's view? How can they do this?

Accepted Answer

In today's day and age of customer relat

Question 12

Mission statements should be market-oriented and defined in terms of satisfying basic customer needs.

Accepted Answer

A) True 
 B)False

Question 13

Greyzone,a company manufacturing office furniture,is based in Terrania,but is looking to sell its products in other countries as well.The company identifies the country of Nyevka as a good option,as the cultures and tastes of consumers in the two countries are similar.Which of the following strategies is Greyzone using?

Accepted Answer

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

Question 14

In the BCG matrix,________ are low-share businesses and products in a market that is not expected to grow.They may generate enough cash to maintain themselves but do not promise to be large sources of cash.

Accepted Answer

A) dogs 
B) cash cows 
C) black holes 
D) stars 
E) question marks 
A) dogs 
B) cash cows 
C) black holes 
D) stars 
E) question marks

Question 15

Describe marketing analysis and SWOT analysis.

Accepted Answer

Managing the marketing function begins w

Question 16

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

Accepted Answer

A) marketing control 
B) marketing implementation 
C) market planning 
D) marketing development 
E) market targeting 
A) marketing control 
B) marketing implementation 
C) market planning 
D) marketing development 
E) market targeting

Question 17

Greyzone,a company manufacturing office furniture,is based in Terrania.Greyzone aims to increase sales of its products in Terrania by increasing its advertising efforts and undertaking frequent promotional events.Which of the following strategies is Greyzone using?

Accepted Answer

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

Question 18

Marketing ROI is the net return from a marketing investment divided by the costs of the marketing investment.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following companies is using a divesting strategy?

Accepted Answer

A) Juggernaut Bikes aims to maintain its market share, but does not have the resources to increase its share. 
B) Noting the potential for growing its market share, LBD Inc. steps up investments in advertising and promotion. 
C) When sales of its clothing division decline, Blackstone's sells off the division to a competitor. 
D) Getix Computers is increasing the price of its products in order to maximize its short-term profits. 
E) Harlow's market share remains steady over two years even though the company does not increase investment in the product in that time. 
A) Juggernaut Bikes aims to maintain its market share, but does not have the resources to increase its share. 
B) Noting the potential for growing its market share, LBD Inc. steps up investments in advertising and promotion. 
C) When sales of its clothing division decline, Blackstone's sells off the division to a competitor. 
D) Getix Computers is increasing the price of its products in order to maximize its short-term profits. 
E) Harlow's market share remains steady over two years even though the company does not increase investment in the product in that time.

Question 20

Which of the following groups is included in a company's value chain?

Accepted Answer

A) customers 
B) suppliers 
C) employees 
D) distributors 
E) competitors 
A) customers 
B) suppliers 
C) employees 
D) distributors 
E) competitors

The product development strategy involves offering modified or new products to new markets.

Ainsworth's is a toy manufacturer based in Australia.Which of the following indicates that the company is following a market development strategy?

Discuss the four Ps of the typical marketing mix.Some people consider that there should be more than four aspects to the marketing mix.Suggest two additional aspects that the marketing mix could include.

A ________ is made up of the company,its suppliers,its distributors,and its customers,who partner with each other to improve the performance of the entire system.

Which of the following is a tool for monitoring strategic marketing performance?

Which of the following is true of the growth-share matrix?

Which of the following criteria does the Boston Consulting Group approach use to provide a measure of the company's strength in the market?

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

Marketing ROI measures the profits generated by investments in marketing activities.

Explain why the four Ps concept of the marketing mix takes a seller's view of the market,not the buyer's view.Why should marketers consider the buyer's view? How can they do this?

Mission statements should be market-oriented and defined in terms of satisfying basic customer needs.

In the BCG matrix,________ are low-share businesses and products in a market that is not expected to grow.They may generate enough cash to maintain themselves but do not promise to be large sources of cash.

Describe marketing analysis and SWOT analysis.

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

Greyzone,a company manufacturing office furniture,is based in Terrania.Greyzone aims to increase sales of its products in Terrania by increasing its advertising efforts and undertaking frequent promotional events.Which of the following strategies is Greyzone using?

Marketing ROI is the net return from a marketing investment divided by the costs of the marketing investment.

Which of the following companies is using a divesting strategy?

Which of the following groups is included in a company's value chain?

Marketing Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

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

The product development strategy involves offering modified or new products to new markets.

Ainsworth's is a toy manufacturer based in Australia.Which of the following indicates that the company is following a market development strategy?

Discuss the four Ps of the typical marketing mix.Some people consider that there should be more than four aspects to the marketing mix.Suggest two additional aspects that the marketing mix could include.

A ________ is made up of the company,its suppliers,its distributors,and its customers,who partner with each other to improve the performance of the entire system.

Which of the following is a tool for monitoring strategic marketing performance?

Which of the following is true of the growth-share matrix?

Which of the following criteria does the Boston Consulting Group approach use to provide a measure of the company's strength in the market?

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

Marketing ROI measures the profits generated by investments in marketing activities.

Explain why the four Ps concept of the marketing mix takes a seller's view of the market,not the buyer's view.Why should marketers consider the buyer's view? How can they do this?

Mission statements should be market-oriented and defined in terms of satisfying basic customer needs.

In the BCG matrix,________ are low-share businesses and products in a market that is not expected to grow.They may generate enough cash to maintain themselves but do not promise to be large sources of cash.

Describe marketing analysis and SWOT analysis.

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

Greyzone,a company manufacturing office furniture,is based in Terrania.Greyzone aims to increase sales of its products in Terrania by increasing its advertising efforts and undertaking frequent promotional events.Which of the following strategies is Greyzone using?

Marketing ROI is the net return from a marketing investment divided by the costs of the marketing investment.

Which of the following companies is using a divesting strategy?

Which of the following groups is included in a company's value chain?

Marketing Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters