Question 1

All of the following are examples of product-oriented mission statements,EXCEPT which one?

Accepted Answer

A) 'At Google we provide online services'. 
B) 'At Disney we run theme parks'. 
C) 'At Nike we sell shoes'. 
D) 'At Revlon we sell lifestyle and self-expression;success and status;memories,hopes,and dreams'. 
E) 'At Hilton Hotels we rent rooms'.

Question 2

The goal of a SWOT analysis is to match business strengths with ________.

Accepted Answer

A) opportunities 
B) threats 
C) product portfolios 
D) weaknesses 
E) market segments

Question 3

When an organisation has specialists heading different activities,such as a sales manager,an advertising manager,a marketing research manager,etc. ,it is said to be a ________ organisation.

Accepted Answer

The answer of When an organisation has specialists heading different...

Question 4

The four possible strategies that can be pursued for each SBU are building,holding,________ and ________.

Accepted Answer

A) harvesting;divesting 
B) promoting;selling 
C) downsizing;expanding 
D) diversifying;penetrating 
E) developing;growing

Question 5

Lynx,a popular brand of male toiletries,defines itself as being in the business of assisting men in the 'mating game'.This is an example of ________.

Accepted Answer

A) market-oriented mission statement 
B) product-oriented mission statement 
C) technology-oriented mission statement 
D) environment-oriented mission statement 
E) a promotional tag line

Question 6

________ indicate how the marketing plan will be monitored.

Accepted Answer

The answer of ________ indicate how the marketing plan will...

Question 7

________ involves evaluating each market segment's attractiveness and selecting one or more segments to enter.

Accepted Answer

A) Market segmentation 
B) Product differentiation 
C) Market targeting 
D) Market mixing 
E) Positioning

Question 8

A company wants to practice effective positioning.To do so,the owners must ________ their marketing offering to give consumers more value than the services offered by competitors.

Accepted Answer

A) differentiate 
B) promote 
C) advertise 
D) sell 
E) represent

Question 9

In the BCG approach,________ are low-growth,high share businesses or products.They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.

Accepted Answer

A) Stars 
B) Cash cows 
C) Question marks 
D) Dogs 
E) Cats

Question 10

Multinationals like L'Oreal have designed programs to work closely with their suppliers to help them reduce their costs and improve quality.This illustrates the importance of an efficient ________.

Accepted Answer

A) business model 
B) low-cost operator 
C) product mix 
D) value-delivery network 
E) problem-solver

Question 11

________ can be a company division,a product line within a division or sometimes a single product or brand.

Accepted Answer

A) A market 
B) The BCG 
C) An SBU 
D) A PLC 
E) A value delivery network

Question 12

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

Accepted Answer

A) A company is more able to change a threat than a weakness. 
B) A company is more able to change a weakness than a threat. 
C) A company can be more negatively affected by a weakness than by a threat. 
D) A company can be more negatively affected by a threat than by a weakness. 
E) A company can more easily identify threats than weaknesses.

Question 13

For Hyundai Corporation,customers who care primarily about the price of a car and its operating economy make up one ________.

Accepted Answer

A) market position 
B) value network 
C) market segment 
D) customer extension 
E) value chain

Question 14

'At Revlon,we make cosmetics' is a market-oriented business definition.

Accepted Answer

A) True 
 B)False

Question 15

A(n)________ defines a business in terms of satisfying basic customer needs.

Accepted Answer

A) market-oriented mission statement 
B) product-oriented mission statement 
C) technology-oriented mission statement 
D) environment-oriented mission statement 
E) strategic plan

Question 16

Although customer relationships are difficult to measure,many companies are using metrics such as ________,________ and ________.

Accepted Answer

The answer of Although customer relationships are difficult to measure,many...

Question 17

Of the following,it is most important for marketers to develop ________ for their products.

Accepted Answer

A) customer management organisations 
B) unique market positions 
C) market management organisations 
D) marketing ROI data 
E) marketing dashboards

Question 18

In the product\market expansion grid,two approaches to growth that involve new product development are ________ and ________.

Accepted Answer

The answer of In the product\market expansion grid,two approaches to...

Question 19

The key businesses or organisational divisions that make up a company are known as the ________.

Accepted Answer

The answer of The key businesses or organisational divisions that...

Question 20

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

Accepted Answer

The answer of A marketing organisation's mission should NOT be...

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