Question 1

Making more sales to current customers without changing a firm's products is called ________.

Accepted Answer

A) market development 
B) market growth 
C) market penetration 
D) product development 
E) market attractiveness

Question 2

Explain why, according to the authors of your text, the four Ps concept of the marketing mix takes a seller's view of the market, not the buyer's view. How should marketers consider the buyer's view?

Accepted Answer

The answer of Explain why, according to the authors of...

Question 3

The text suggests that instead of thinking of selling products, marketers would be wise to take the customer's view and think of ________.

Accepted Answer

A) providing convenience 
B) offering solutions to problems 
C) initiating two-way communication 
D) offering discounts 
E) connecting services and products

Question 4

What is business portfolio planning? Discuss how a company might use the Boston Consulting Group's product portfolio analysis method.

Accepted Answer

The answer of What is business portfolio planning? Discuss how...

Question 5

Kimball Gardens is a company that operates as two distinct businesses-one that sells lawn and garden products and one that markets booklets. Each business is called a ________.

Accepted Answer

A) separate entity 
B) strategic business unit (SBU) 
C) matrix 
D) division 
E) business portfolio

Question 6

Saturn is "a different kind of company, a different kind of a car"; the Hummer is "like nothing else." These statements reflect a firm's ________.

Accepted Answer

A) product portfolio 
B) target markets 
C) positioning 
D) strategy 
E) market niche

Question 7

Paul Pendergraff is evaluating each market segment's attractiveness and is in the process of selecting one or more segments for his firm's product to enter. What is Paul doing?

Accepted Answer

A) market targeting 
B) marketing segmenting 
C) marketing 
D) market positioning 
E) market penetrating

Question 8

The four Ps concept takes the seller's or marketer's view of the market. What are the buyer's four Cs?

Accepted Answer

A) convenience, cost, competition, and communication 
B) customer solution, customer cost, convenience, and communication 
C) customer solution, customer satisfaction, convenience, and communication 
D) customer satisfaction, customer value, convenience, and customer relationships 
E) customer solution, customer value, convenience, and communication

Question 9

AllPro Plastics is in the process of dividing a market into distinct groups of buyers with different needs, characteristics, and behaviors who might require separate products or marketing programs. Which of the following is this firm doing?

Accepted Answer

A) market development 
B) market diversification 
C) market penetration 
D) market targeting 
E) market segmentation

Question 10

Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?

Accepted Answer

A) objectives and goals 
B) mission statement 
C) business portfolio 
D) marketing and functional strategies 
E) operational strategies

Question 11

Environmental Service 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 12

________ 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 13

Which of the following is the final step in the strategic planning process?

Accepted Answer

A) defining the company mission 
B) setting company objectives and goals 
C) designing the business portfolio 
D) planning marketing and other functional strategies 
E) identifying the company's culture

Question 14

With the rise of social media, two major challenges facing marketers today are ________.

Accepted Answer

A) keeping up with the changing technology and learning how to use it 
B) keeping up with changing technology and choosing the best ones to use 
C) understanding how to use the tools in a way that achieves marketing goals and measuring the effects of social media programs 
D) understanding how to use the tools in a way that achieves marketing goals and interpreting the information gathered 
E) measuring the most effective tools for use and measuring the effects of social media programs

Question 15

A sound marketing strategy begins with ________.

Accepted Answer

A) positioning 
B) customer analysis 
C) differentiation 
D) promotion 
E) SWOT analysis

Question 16

The final step in the marketing control process is taking corrective action to erase any gaps between goals and performance.

Accepted Answer

A) True 
 B)False

Question 17

The growth strategy of diversification involves offering modified or new products to current markets.

Accepted Answer

A) True 
 B)False

Question 18

In the marketing management functions, a SWOT analysis should ________ a marketing plan.

Accepted Answer

A) precede 
B) coincide with 
C) follow 
D) evaluate 
E) take priority over

Question 19

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

Accepted Answer

A) short-term oriented 
B) decentralized 
C) limitation-free 
D) product-oriented 
E) centralized

Question 20

Juanita Castro is looking at whether her company's strategies are well matched to its opportunities. Juanita is utilizing ________.

Accepted Answer

A) marketing control 
B) operating control 
C) strategic control 
D) SWOT analysis 
E) marketing auditing

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

Making more sales to current customers without changing a firm's products is called ________.

Explain why, according to the authors of your text, the four Ps concept of the marketing mix takes a seller's view of the market, not the buyer's view. How should marketers consider the buyer's view?

The text suggests that instead of thinking of selling products, marketers would be wise to take the customer's view and think of ________.

What is business portfolio planning? Discuss how a company might use the Boston Consulting Group's product portfolio analysis method.

Kimball Gardens is a company that operates as two distinct businesses-one that sells lawn and garden products and one that markets booklets. Each business is called a ________.

Saturn is "a different kind of company, a different kind of a car"; the Hummer is "like nothing else." These statements reflect a firm's ________.

Paul Pendergraff is evaluating each market segment's attractiveness and is in the process of selecting one or more segments for his firm's product to enter. What is Paul doing?

The four Ps concept takes the seller's or marketer's view of the market. What are the buyer's four Cs?

AllPro Plastics is in the process of dividing a market into distinct groups of buyers with different needs, characteristics, and behaviors who might require separate products or marketing programs. Which of the following is this firm doing?

Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?

Environmental Service 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.

________ 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.

Which of the following is the final step in the strategic planning process?

With the rise of social media, two major challenges facing marketers today are ________.

A sound marketing strategy begins with ________.

The final step in the marketing control process is taking corrective action to erase any gaps between goals and performance.

The growth strategy of diversification involves offering modified or new products to current markets.

In the marketing management functions, a SWOT analysis should ________ a marketing plan.

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

Juanita Castro is looking at whether her company's strategies are well matched to its opportunities. Juanita is utilizing ________.