Chapter 2 Fun Stuff- Marketing – Flashcards

The BCG market growth rate provides a measure of ________. p. company strength in the market q. decline of competitors r. market attractiveness s. industry attractiveness t. the unit stock value

What do we call the collection of businesses and products that make up the company? r. investment diversity s. needs inventory t. business portfolio u. departments v. none of the above

Firms commonly engage in strategic planning at all these levels except: p. functional q. corporate r. management s. SBU t. all of the above are planning levels

At the corporate level, a company starts the strategic planning process by defining its overall purpose and ________. a. mission b. values c. vision d. opinions e. strengths

Visual depictions of measured metrics are called: t. dashboards u. switchboards v. gauges w. LEDs x. none of the above

It is acceptable to have products in which of the following BCG categories? a. stars b. cash cows c. question marks d. dogs e. all of the above

When we practice ________, we arrange for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. g. positioning h. market identification i. target segmenting j. repositioning k. product distribution

Acquiring a competing firm in the same industry would LEAST likely be this type of growth strategy: v. market penetration w. market development x. product development y. diversification z. none of the above

Firms may attempt to grow through market penetration by: i. finding new uses for their product j. decreasing price k. increasing distribution l. increasing promotion m. all of the above

The principle objective of a market-oriented mission statement is to ________. a. satisfy basic customer needs b. satisfy basic supplier needs c. satisfy basic stockholder needs d. satisfy basic owner needs e. satisfy basic partnership needs

Company strengths identified in a SWOT analysis make it possible to ____________ opportunities. s. constrain t. leverage u. be vulnerable v. identify problems with w. forecast

Clarabell's Clown Supplies has decided to pursue a diversification strategy whereby it will offer ________ products to ________ markets. e. new or modified; new f. current; new g. new or modified; current h. current; current i. consumer; business

Which SBU produces a lot of cash that the company may use to support other SBUs that need investment? q. stars r. cash cows s. question marks t. dogs u. both stars and question marks

Which of the following is NOT part of business portfolio analysis? e. analyzing the current portfolio f. deciding which units should receive more or less investment g. deciding which units should receive no further investment h. deciding which units may require additional attention i. determining appropriate target markets

A common practice among marketers is to identify and develop new markets for their existing products. This practice is called ________. a. market development b. product development c. market penetration d. market skimming e. dual adaptation

In a basic SWOT analysis the "T" stands for ________. j. timing k. trust l. threats m. tomorrow n. tangible

The two key components of a marketing strategy are to: i. identify a target market and develop a marketing mix j. identify suppliers and distributors k. select differentiation and positioning opportunities l. conduct a profile analysis and marketing partner options m. none of the above

A common practice among marketers is to increase sales to current customers without changing their products. What is this practice called? r. market skimming s. market penetration t. market development u. product extension v. production extension

The pharmaceuticals division (SBU) of Omni Healthcare holds low market share in a high-growth market. Managers may decide to ________. a. continually add new products in the market b. implement a milking strategy c. use money from a cash cow to try and build market share for the pharmaceuticals division d. divest the SBU e. A or C

Marketing plays a key role in a company's strategic planning. Which of the following does marketing provide? t. guiding philosophy u. inputs v. strategies w. objectives x. all of the above

Michael's Motors has decided to pursue a market development strategy whereby it will offer ________ products to ________ markets. b. new or modified; new c. current; new d. new or modified; current e. current; current f. consumer; business

Your firm is attempting to create a customer driven marketing strategy. Which is the correct order of doing so? i. market segmentation, target marketing, differentiation, market positioning j. target marketing, market positioning, market segmentation, differentiation k. differentiation, market positioning, market segmentation, target marketing l. market segmentation, differentiation, market positioning, target marketing m. mass marketing, demographic segmentation, psychographic segmentation, differentiation

Which of the following are the axes used on the BCG matrix? t. market growth rate and relative market share u. absolute market growth and relative market share v. relative market growth and absolute market share w. absolute market growth and absolute market share x. none of the above

You work for Mr. Bill of Mr. Bill's Seafood. He has asked you to develop new markets for their current products. Which of the following might be most helpful? f. reviewing new demographic markets g. reviewing new geographic markets h. reviewing current sales records i. f and g j. reviewing current customer attitudes

Market segmentation identifies the ________ and divides it into smaller ________. m. industry; markets n. market; segments o. competition; competitors p. market; market shares q. customer; preferences

You tell your younger brother that product, price, place, and promotion make up the ________. d. marketing package e. marketing strategy f. marketing combination g. marketing mix h. marketing value