Question 1

According to the BCG growth-market share matrix,________ are strategic business units with products that have a dominant market share in a high-growth market.

Accepted Answer

A)  stars 
B)  dogs 
C)  cash cows 
D)  question marks 
A)  stars 
B)  dogs 
C)  cash cows 
D)  question marks

Question 2

Which of the following is a limitation of the BCG matrix?

Accepted Answer

A)  It does not help managers determine which SBUs should be dropped from a portfolio. 
B)  It does not help managers determine which SBUs need investment to grow. 
C)  It does not tell managers the best ways to create growth. 
D)  It cannot be used by corporations with multiple SBUs. 
A)  It does not help managers determine which SBUs should be dropped from a portfolio. 
B)  It does not help managers determine which SBUs need investment to grow. 
C)  It does not tell managers the best ways to create growth. 
D)  It cannot be used by corporations with multiple SBUs.

Question 3

________ is the process of collecting,analyzing,and interpreting data about customers,competitors,and the business environment to improve marketing effectiveness.

Accepted Answer

A)  Marketing management 
B)  Marketing research 
C)  Strategic management 
D)  Internal marketing 
A)  Marketing management 
B)  Marketing research 
C)  Strategic management 
D)  Internal marketing

Question 4

In what situations would marketing research most likely be a waste of time and money?

Accepted Answer

Marketing research is unwarranted in at

Question 5

Marketers would most likely use ________ research to come up with ideas for new strategies and opportunities or to generate specific issues for future research.

Accepted Answer

A)  causal 
B)  exploratory 
C)  descriptive 
D)  experimental 
A)  causal 
B)  exploratory 
C)  descriptive 
D)  experimental

Question 6

Based on the BCG Matrix,a product in a ________ market position typically generates enough cash to fund other investments.

Accepted Answer

A)  high share/high growth 
B)  high share/low growth 
C)  low share/high growth 
D)  low share/low growth 
A)  high share/high growth 
B)  high share/low growth 
C)  low share/high growth 
D)  low share/low growth

Question 7

Which term refers to the stage in sales growth when sales revenues are equal to expenses?

Accepted Answer

A)  breakeven point 
B)  product position 
C)  short term margin 
D)  consumer price point 
A)  breakeven point 
B)  product position 
C)  short term margin 
D)  consumer price point

Question 8

A(n)________ strategy involves using a common technology for multiple products in a product line.

Accepted Answer

A)  price lining 
B)  brand extension 
C)  product platform 
D)  augmented product 
A)  price lining 
B)  brand extension 
C)  product platform 
D)  augmented product

Question 9

To attract a target audience of 25- to 35-year-olds,Godiva began running advertisements that resembled fashion advertisements.Godiva also began purchasing ad space in Vogue and Vanity Fair.In doing so,Godiva altered the ________ element of its marketing-mix strategy.

Accepted Answer

A)  place 
B)  price 
C)  product 
D)  promotion 
A)  place 
B)  price 
C)  product 
D)  promotion

Question 10

According to Peter Drucker,marketing and ________ lead to positive results for a firm.

Accepted Answer

A)  product innovation 
B)  budgetary forecasts 
C)  localized distribution 
D)  modern technology 
A)  product innovation 
B)  budgetary forecasts 
C)  localized distribution 
D)  modern technology

Question 11

Superior Auto Sales,a chain of high-end used car dealerships,wants to sum up its company positioning and value proposition in a formal statement to serve as a guide for marketing communication development.Superior's management would use a ________.

Accepted Answer

A)  vision statement 
B)  mission statement 
C)  corporate statement 
D)  brand position statement 
A)  vision statement 
B)  mission statement 
C)  corporate statement 
D)  brand position statement

Question 12

Data that has been collected for some other purpose than to answer the question at hand is called ________.

Accepted Answer

A)  quantitative data 
B)  demographic data 
C)  secondary data 
D)  primary data 
A)  quantitative data 
B)  demographic data 
C)  secondary data 
D)  primary data

Question 13

Marketers would most likely use ________ to determine if a change in price is responsible for a change in sales.

Accepted Answer

A)  causal research 
B)  demographic studies 
C)  exploratory research 
D)  predictive techniques 
A)  causal research 
B)  demographic studies 
C)  exploratory research 
D)  predictive techniques

Question 14

Positioning statements are strategy statements that specify the needs of the target market and the marketing mix that will be implemented to develop brand awareness.

Accepted Answer

A) True 
 B)False

Question 15

A marketer analyzing whether members of the target audience like the services offered by a firm is analyzing the ________ element of the marketing mix.

Accepted Answer

A)  place 
B)  price 
C)  product 
D)  promotion 
A)  place 
B)  price 
C)  product 
D)  promotion

Question 16

How has technology affected the place and promotion elements of the marketing mix?

Accepted Answer

As technology changes (including Interne

Question 17

During the ________ stage,a marketer implements a marketing strategy into specific brand-building marketing mix elements.

Accepted Answer

A)  positioning 
B)  targeting 
C)  segmenting 
D)  promoting 
A)  positioning 
B)  targeting 
C)  segmenting 
D)  promoting

Question 18

Which type of research design would most likely be used to characterize specific customers with regard to their behaviors and preferences?

Accepted Answer

A)  causal research 
B)  exploratory research 
C)  descriptive research 
D)  experiential research 
A)  causal research 
B)  exploratory research 
C)  descriptive research 
D)  experiential research

Question 19

The growth-market share matrix developed by the Boston Consulting Group (BCG)is a type of ________.

Accepted Answer

A)  value chain 
B)  SWOT analysis 
C)  portfolio analysis 
D)  compatibility assessment 
A)  value chain 
B)  SWOT analysis 
C)  portfolio analysis 
D)  compatibility assessment

Question 20

In the product hierarchy,which level would most likely generate positive word-of-mouth and customer loyalty?

Accepted Answer

A)  augmented product 
B)  potential product 
C)  expected product 
D)  core product 
A)  augmented product 
B)  potential product 
C)  expected product 
D)  core product

Exam 5: Implementation

According to the BCG growth-market share matrix,________ are strategic business units with products that have a dominant market share in a high-growth market.

Which of the following is a limitation of the BCG matrix?

________ is the process of collecting,analyzing,and interpreting data about customers,competitors,and the business environment to improve marketing effectiveness.

In what situations would marketing research most likely be a waste of time and money?

Marketers would most likely use ________ research to come up with ideas for new strategies and opportunities or to generate specific issues for future research.

Based on the BCG Matrix,a product in a ________ market position typically generates enough cash to fund other investments.

Which term refers to the stage in sales growth when sales revenues are equal to expenses?

A(n)________ strategy involves using a common technology for multiple products in a product line.

To attract a target audience of 25- to 35-year-olds,Godiva began running advertisements that resembled fashion advertisements.Godiva also began purchasing ad space in Vogue and Vanity Fair.In doing so,Godiva altered the ________ element of its marketing-mix strategy.

According to Peter Drucker,marketing and ________ lead to positive results for a firm.

Superior Auto Sales,a chain of high-end used car dealerships,wants to sum up its company positioning and value proposition in a formal statement to serve as a guide for marketing communication development.Superior's management would use a ________.

Data that has been collected for some other purpose than to answer the question at hand is called ________.

Marketers would most likely use ________ to determine if a change in price is responsible for a change in sales.

Positioning statements are strategy statements that specify the needs of the target market and the marketing mix that will be implemented to develop brand awareness.

A marketer analyzing whether members of the target audience like the services offered by a firm is analyzing the ________ element of the marketing mix.

How has technology affected the place and promotion elements of the marketing mix?

During the ________ stage,a marketer implements a marketing strategy into specific brand-building marketing mix elements.

Which type of research design would most likely be used to characterize specific customers with regard to their behaviors and preferences?

The growth-market share matrix developed by the Boston Consulting Group (BCG)is a type of ________.

In the product hierarchy,which level would most likely generate positive word-of-mouth and customer loyalty?

Overview of Marketing Strategy the Strategic Marketing Process

Situation Assessment - the External Environment

Situation Assessment - the Company

Strategy Formation

Planning,assessment,and Adjustment

Note : Market Definition

Note : Context: Pest Analysis

Note : Customer Assessment - Trends and Insights

Note : Consumer and Organizational Buyer Behavior

Note : Competitor Analysis - Competitive Intelligence

Note : Company Assessment - Missions and Visions

Note : Company Assessment - the Value Chain

Note : Industry Analysis

Note : the Product Life Cycle

Note : Experience Curve Effects on Cost Reduction

Note : Economies and Diseconomies of Scale

Note : Economies of Scope-Synergies and Virtuous Circles

Note : Market-Share Effects

Note : Scenario Analysis

Note : the Marketing Concept

Note : What Is a Marketing Strategy

Note : Generic Strategies - Advantage and Scope

Note : Generic Strategies - the Value Map

Note : Generic Strategies - Product-Market Growth Strategies

Note : Specific Marketing Strategies

Note : Market Segmentation

Note : Loyalty-Based Marketing,customer Acquisition,and Customer Retention

Note : Customer Lifetime Value

Note : Competitive Advantages

Note : Swot Analysis

Note : Targeting

Note : Positioning

Note : Customer-Oriented Market Research

Note : Brands and Branding

Note : Products - New Product Development

Note : Products - Innovations

Note : Products - Product Portfolios

Note : Pricing Strategies

Note : Promotion and People - Integrated Marketing Communications

Note : Place - Distribution

Note : Budgets,forecasts,and Objectives

Note : Staircase Analysis

Note : Assessment and Adjustment

Filters