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

Explain why,according to the authors of your text,the marketing mix (product,price,place,promotion,process,physical evidence and people)takes a seller's view of the market,not the buyer's view.How should marketers consider the buyer's view?

The annual and long-range plans deal with the company's ________ businesses and how to keep them going.In contrast,the strategic plan involves adapting the firm to take advantage of ________ in its constantly changing environment.

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

In the BCG matrix,'dogs' by definition are businesses or products that do not generate enough cash to maintain themselves.

Marketing ________ is the process that turns marketing strategies into marketing actions in order to accomplish strategic marketing objectives.

For companies that sell one product line to many different types of markets with different needs and preferences,a ________ management organisation is often used.

A marketing organisation's mission should NOT be stated as making more sales or ________.Instead,the mission should focus on customers and the ________.

The four marketing management functions are analysis,planning,implementation and control.

In the Boston Consulting Group approach,________ serve(s)as a measure of company strength in the market.

To improve its value-delivery network,a company needs to examine the value chains of its suppliers and distributors.

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

________ indicate how the marketing plan will be monitored.

More and more companies involve only upper-level management teams in strategic planning.

The collection of businesses and products that make up a company is called its ________.

During the late 1990s and early 2000s,skincare companies began to notice that the number of men using skincare products had increased dramatically.In an effort to leverage this trend,L'Oreal launched a new range known as L'Oreal Men Expert in 2005.This is an example of ________.

The activity whereby management evaluates the products and businesses that make up the company is known as business ________ ________.

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

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

Which of the following is NOT an example of a market-oriented mission statement?

Given the benefits of strategic planning,how can you explain why some companies do not use this type of planning?