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

Mission statements should both emphasize the company's strengths in the marketplace and be motivating.

Marketing control means measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

How might the Boston Consulting Group (BCG)matrix represent a life cycle?

Fence Patrol has developed an entirely new mounting system for chain link fences.Although it is a local company,through the acquisition of a distributor it now has the ability to market its products nationwide.Fence Patrol is most likely to be following a ________ strategy

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?

According to the Boston Consulting Group approach,________ provides a measure of market attractiveness.

In the Boston Consulting Group (BCG)matrix,________ require less investment to hold their market share.

When a company positions its product,it should first identify possible customer value differences within a market segment that could be the basis of a competitive advantage for the product.

Define marketing strategy.Discuss the steps in formulating marketing strategy.

In SWOT analysis,which of the following refers to factors in the external environment?

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

The major activity in strategic planning is strategic business unit planning,whereby management evaluates the products and businesses making up the company.

Which of the following involves evaluating each market segment's attractiveness and selecting one or more segments to enter?

Unlike strategic-planning efforts of the past,which were conducted primarily by senior managers,today's strategic planning is ________.

The BCG is a useful approach to evaluate current businesses.Describe a device that a firm could use to identify future growth opportunities.

When the makers of a ballpoint pen state they are in the communication equipment business,they are defining their mission too ________.

Armour offers an ever-increasing range of styles and colours in its original apparel lines.It also added direct-to-consumer distribution channels.This effort by Armour management is an example of ________.

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

Four types of SBUs are defined by the BCG growth-share matrix.They are ________,________,________,and ________.

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