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

Starbucks has an annual plan in place to deal with the company's current SBUs and their operations. However, as a growth-oriented firm, Starbucks is interested in both domestic and international markets. This requires Starbucks to constantly monitor the environment and adapt to the opportunities with which it is presented. To take advantage of its changing marketing opportunities, it is most important for Starbucks to have which of the following in place?

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

Emerson Studios, a chain of 25 portrait stores in five provinces and territories, has organized its marketing into different activities that are headed by specialists. What type of marketing organization is this?

According to the product/market expansion grid, what strategy would a fast-food hamburger restaurant follow if it offered a salad bar option during lunch hours?

Monsanto operates in many businesses, including pharmaceuticals and food products. The company defines its ________ as creating "abundant food and a healthy environment."

________ is the marketing logic by which a company hopes to create customer value and achieve profitable customer relationships.

Fun-Spot Fun Park began as a small amusement park in 1985. Starting 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," Gail added, "that has brought so many visitors. We provide a 'total package' of entertainment. Plus, we try to change our rides and various attractions from time to time." Ron and Gail Hart admitted that making every visitor happy is a priority. "That has always been our philosophy," they said. "And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly." -At this point, how do Ron and Gail monitor Fun-Spot's business portfolio?

The four Ps concept takes the seller's view of the market.

The marketing control process entails the following steps in order: setting goals, ________, evaluating performance, and ________.

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

________ entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy.

Define strategic planning. Discuss the steps involved.

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

Business portfolio planning involves two steps: ________ and ________.

In the four Ps of the marketing mix, promotion refers solely to advertising.

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

Give a situation in which the suggested strategy for a dog might be to divest.

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

After management has identified the key businesses making up its company, what is the next step?

Marketing departments are organized in several ways. Compare and contrast the most common forms of marketing organizations.