Test
MARKETING CH 2: Company and Marketing Strategy: Partnering to Building
Preguntas del test (73)
1The focus of which of the following processes not only sets the stage for planning in the firm, but also represents the maintenance and development of the organization's goals and capabilities and its changing marketing opportunities?
- AMarketing planning
- BLong-range planning
- CResearch and development planning
- DAnnual planning
- EStrategic planning
2What is the correct sequence of the steps in the strategic planning process?
- ASet company objectives and goals, define the company mission, design the business portfolio, and plan the marketing and other functional strategies
- BDefine the company mission, design the business portfolio, set company objectives and goals, and plan the marketing and other functional strategies
- CDesign the business portfolio, define the company mission, set company objectives and goals, and plan the marketing and other functional strategies
- DDefine the company mission, set company objectives and goals, design the business portfolio, and plan the marketing and other functional strategies
- EDefine the company mission, set company objectives and goals, plan the marketing and other functional strategies, and design the business portfolio
3The goal of ________ is to develop and maintain a fit between the organization's goals and capabilities and its changing marketing opportunities.
- Afinancial planning
- Bsales
- Cmarketing
- Dproduct development
- Estrategic planning
4The step in the strategic planning process that should be market-oriented, realistic, specific, motivating, and consistent with the market environment is ________.
- Adeveloping functional plans
- Bdefining the company's mission
- Csetting goals and objectives
- Ddesigning a business portfolio
- Edeveloping business unit strategies
5Mission statements should be ________.
- Ageneralized
- Bproduct oriented
- Cdefined in terms of customer needs
- Dwritten for public relations purposes
- Ewritten in technology terms
6Which is an example of a market-oriented business definition?
- AWe run reasonably priced, comfortable hotels and convention sites.
- BWe sell arts and crafts supplies.
- CWe empower our busy customers to maintain a healthy diet even when they don't have time to cook.
- DWe run luxury retail outlets.
- EWe manufacture cutting-edge electronics equipment.
7Which of the following actions helps a company find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources?
- AIndividual departmental planning
- BResearch and development planning
- CStrategic planning
- DFinancial and revenue planning
- EMarketing planning
8When a company starts the strategic planning process at the corporate level, it begins by ___________.
- Aformulating product innovation objectives
- Bdefining its overall purpose and mission
- Cdefining its revenue objectives
- Dcreating research and development plans
- Esetting growth strategy goals
9After creating a company's mission and objectives, the executive team must then plan __________ by keeping in mind the best fit for its strengths, weaknesses, and opportunities in the environment.
- Aindividual department objectives
- Brevenue goals and objectives
- Cits research and development efforts
- Dits business portfolio
- Eits overall growth strategy
10Which tool uses market penetration, market development, product development, or diversification to identify company growth opportunities?
- ASWOT analysis
- BGrowth-share matrix
- CValue delivery network
- DProduct/market expansion grid
- EMarket segmentation
11Which strategy involves company growth through starting up or acquiring businesses outside the company's current products and markets?
- AMarket development
- BMarket penetration
- CPruning
- DDiversification
- EProduct development
12A company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually improve?
- APerform micro-environmental and macro-environmental analyses.
- BExamine how well each group performs its work of adding customer value.
- CDetermine the company's proper marketing mix and the team's ability to execute on it.
- DPerform a business and product competitive analysis.
- EExamine the various elements of the BCG growth-share matrix.
13To create value for customers, marketers must improve the performance of the _________, which includes partnering with suppliers, distributors, and customers.
- Acompetitive delivery network
- Binternal value chain
- Cstrategic plan
- Dmarketing system
- Evalue delivery network
14________ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing strategies.
- AMarketing mix
- BMarket targeting
- CDifferentiation
- DMarket segmentation
- EPositioning
15The set of tactical marketing tools that a firm blends to produce the response it wants in the target markets is called ________.
- Atarget marketing
- Bthe marketing mix
- Cdifferentiation
- Dmarket segmentation
- Epositioning
16In this age of customer value and relationships, the four Ps might be better described as the four As. Which is NOT one of the four As?
- AAcceptability
- BAwareness
- CAffordability
- DAccountability
- EAccessibility
17Why is marketing return on investment (ROI) so difficult to measure?
- AMarketing dashboards are inconsistent.
- BThe market economics constantly change.
- CMarketers do not keep adequate records.
- DCustomer-centered measures are inconvenient.
- EThere is no consistent definition.
18A marketing dashboard is used to do which of the following?
- ADevelop a course of action to market a product
- BPromote a product to a target group
- CMonitor strategic marketing performance
- DDetermine the financial cost of developing a product
- EAnalyze the new product lines being developed
19 The main section of a typical marketing plan presents ________.
- Aa growth-share matrix
- Bthe controls that will be used to monitor progress
- Can executive summary
- Da SWOT analysis
- Ea product/market expansion grid
20
Marketing ________ focuses on the what and why of marketing activities, while marketing ________ focuses on the who, where, when, and how- Aorganization; planning
- Banalysis; planning
- Cimplementation; analysis
- Dplanning; implementation
- EImplementation; organization
21Most standard portfolio analysis methods evaluate strategic business units (SBUs) on their performance in two important dimensions. What are these two dimensions?
- AThe number of SBUs the company identifies and the number of products it produces
- BThe attractiveness of the SBU's market or industry and the number of products the company produces
- CThe attractiveness of the SBU's market or industry and the strength of the SBU's position in that market or industry
- DThe number of products a company produces and the number of foreign countries in which the company competes
- EThe type of market or industry in which the company competes and the strength of the SBU's position in that market or industry
22A video game manufacturer wants to enter the Japanese market with their current line of games. Based on the product/market expansion grid, which growth strategy is the firm using?
- ADiversification
- BHarvesting
- CMarket development
- DProduct development
- EMarket penetration
23 The best ________ is the one that best fits the company's strengths and weaknesses to opportunities in the environment.
- Afunctional plan
- Bbusiness portfolio
- Cstrategic plan
- Dmarketing plan
- Eproduct portfolio
24The two steps in business portfolio planning are ________ and ________.
- Acreating detailed functional plans; developing strategies for growth and downsizing
- Banalyzing the current business portfolio; developing strategies for growth and downsizing
- Canalyzing the current business portfolio; developing revenue strategies
- Dcreating a corporate strategic plan; developing strategies for growth and downsizing
- Eanalyzing past business portfolios; analyzing the current business portfolio
25Which strategy is NOT found in the product/market expansion grid?
- ADiversification
- BMarket development
- CConsolidation
- DMarket penetration
- EProduct development
26 Fairly recently, Starbucks began expanding into China. At one point, Starbucks was opening a new store in China every 15 hours. Which product/market expansion strategy does this represent?
- AMarket development
- BProduct development
- CMarket penetration
- DDiversification
- EPruning
27 Marketing provides a guiding philosophy for a company's strategic planning. This philosophy, known as __________, focuses on creating customer value and building profitable relationships with important consumer groups.
- Acustomer relationship management
- Bvalue chain management
- Cthe marketing concept
- Dthe value network
- Epartner relationship management
28 ________ compose a company's external value delivery network.
- ACustomers, competitors, and suppliers
- BSuppliers, distributors, and customers
- CSuppliers, distributors, and other company departments
- DSuppliers, customers, and other company departments
- ECompany departments, customers, and competitors
29Marketing plays a key role in the company's strategic planning by providing a ________ concept philosophy and inputs regarding attractive market opportunities.
- Amarketing
- Bproduction
- Cproduct
- Dselling
- Esocietal marketing
30What quote by HP founder David Packard captures the modern attitude toward the role of marketing in business?
- A"Marketing is so critical that it should only be engaged in by trained marketing professionals."
- BMarketing is too important to be left only to the marketing department."
- C"Marketers need other departments to stay out of their way and let them take care of business."
- D"The marketing department needs to back off when its actions cause other departments to do a poorer job in their terms."
- E"Customer experience depends solely on the marketing team."
31As part of marketing's role, the department works closely with partners in other departments to form an effective internal ________ and with other companies in the marketing system to create an external value delivery network that jointly serves customers.
- Anetwork
- Bvalue chain
- Cmanagement process
- Dcustomer relationship management chain
- Epartner chain
32Marketing must also partner effectively with other companies in the marketing system to form a competitively superior ________.
- Afunctional delivery network
- Bvalue delivery network
- Csupply chain network
- Dvalue chain
- Evendor chain network
33_______ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing strategies or mixes.
- AMarket segmentation
- BPositioning
- CMarketing strategy
- DMarket targeting
- EDifferentiation
34In this age of customer value and relationships, the four Ps might be better described as the four As. What are the four As?
- AAcceptability, Affordability, Accessibility, Awareness
- BAcceptability, Affordability, Accessibility, Analytics
- CAccessibility, Awareness, Analytics, Action
- DAnalytics, Accessibility, Awareness, Advertising
- EAcceptability, Affordability, Action, Advertising
35Companies engage in key activities to determine which customers they are best positioned to serve. Which is NOT one of these activities?
- APositioning
- BMarket targeting
- CDifferentiation
- DMarketing mix
- EMarket segmentation
36What is at the center of marketing strategy and programs?
- ACustomer value and relationships
- BSegmentation and targeting
- CThe integrated marketing mix
- DPositioning and differentiation
- EThe four Ps
37The customer-driven company divides the total market into smaller segments, selects segments it can best serve, and decides how it wants to bring value to target consumers in the selected segments. It then designs a(n) ________.
- Aintegrated marketing communications plan
- Bintegrated marketing mix
- Crevenue plan
- Dintegrated marketing plan
- Ecomprehensive sales plan
38What are the variables in a company's marketing mix?
- AProduct, price, profits, place
- BProfits, product, partners, people
- CProduct, price, place, promotion
- DProduct, price, profits, people
- EProduct, price, promotion, people
39What are the five marketing management functions used to manage the marketing process?
- ATargeting, planning, implementation, control, and segmenting
- BSegmenting, planning, implementation, differentiation, and control
- CAnalysis, planning, implementation, organization, and control
- DProduct development, pricing, customer service, promotion, and control
- EAnalysis, segmenting, targeting, planning, and implementing
40A marketing plan begins with ________ and ends with a(n) ________.
- Aobjectives; budget forecast
- Ban executive summary; action plan
- Cobjectives; outline of controls
- Da marketing strategy; profit forecast
- Ean executive summary; outline of controls
41What are the five marketing management functions?
- AAnalysis, planning, implementation, organization, and control
- BPlanning, implementation, research, organization, and control
- CAnalysis, planning, research, implementation, and organization
- DAnalysis, marketing research, implementation, organization, and control
- EPlanning, sales planning, control, implementation, and organization
42A SWOT is a part of which marketing management function?
- AMarketing implementation
- BMarketing planning
- CMarketing analysis
- DMarketing control
- EMarketing organization
43Marketing departments can be organized in a number of ways. However, more and more companies are changing organizational focus from ________ to ________.
- Aproduct management organization; market management organization
- Bcustomer relationship management; product or territory management
- Ccustomer relationship management; functional marketing organization
- Dproduct or territory management; functional marketing organization
- Eproduct or territory management; customer relationship management
44 Today's marketers face growing pressures to show that they are adding value in line with their costs. In response, marketers are developing better measures of ________.
- Amarketing tactics and implementation
- Bmarketing investments in specific global and domestic locations
- Cmarketing return on investment
- Dcustomer value and partnership management efforts
- Ethe effectiveness of digital and social media marketing
45What is the product/market expansion grid?
- AA portfolio-planning tool
- BThe measuring and evaluating of results of marketing strategies of a company
- CA set of tactical marketing tools
- DAn evaluation of the company’s strengths, weaknesses, opportunities, and threats
46What is a company marketing strategy?
- AThe marketing logic by which a company hopes to create customer value
- BThe process by which management evaluates products and businesses
- CThe process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
- DThe process of evaluating each market segment’s attractiveness
47Market penetration is __________.
- Acompany growth by increasing sales of current products to current market segments without changing the product
- Bcompany growth by identifying and developing new market segments for current company products
- Ccompany growth by offering modified or new products to current market segments
- Dcompany growth through starting up or acquiring businesses outside the company’s current products and markets
48__________ is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification.
- AThe product/market expansion grid
- BMarketing control
- CMarketing implementation
- DSWOT analysis
49What is marketing implementation?
- ATurning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives
- BAn overall evaluation of a company’s strengths, weaknesses, opportunities, and threats
- CMeasuring and evaluating the results of marketing strategies and plans
- DThe process of evaluating each market segment’s attractiveness and selecting one or more segments to serve
50The growth-share matrix defines four types of SBUs: __________ are low-growth, high-share businesses or products.
- ACash cows
- BStars
- CQuestion marks
- DDogs
51A value chain is __________.
- Athe series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products
- Bmade up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system
- Cthe target market and the company’s position in it, including information about the market, product performance, competition, and distribution
- Da group of consumers who respond in a similar way to a given set of marketing efforts
52The growth-share matrix defines four types of SBUs: Stars are __________.
- Ahigh-growth, high-share businesses or products
- Blow-growth, high-share businesses or products
- Clow-share business units in high-growth markets
- Dlow-growth, low-share businesses and products
53The growth-share matrix defines four types of SBUs: __________ are low-growth, low-share businesses and products.
- ADogs
- BStars
- CQuestion marks
- Dcash cows
54What is market targeting?
- AThe process of evaluating each market segment’s attractiveness and selecting one or more segments to enter
- BThe marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
- CThe process by which management evaluates the products and businesses that make up the company
- DThe process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
55__________ is company growth by offering modified or new products to current market segments.
- AProduct development
- BMarket development
- CMarket penetration
- DDiversification
56How is a dog defined in the growth-share matrix?
- AAs a low-growth, low-share business or product
- BAs a high-growth, high-share business or product
- CAs a low-share business unit in a high-growth market
- DAs a low-growth, high-share business or product
57__________ is company growth by identifying and developing new market segments for current company products.
- AMarket development
- BMarket penetration
- CProduct development
- DDiversification
58__________ is the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.
- AMarketing strategy
- BPortfolio analysis
- CStrategic planning
- DMarket targeting
59__________ is the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products.
- AA value chain
- BA value delivery network
- CThe current marketing situation
- DA market segment
60__________ is an overall evaluation of a company’s strengths, weaknesses, opportunities, and threats.
- ASWOT analysis
- BMarketing implementation
- CMarketing control
- DThe product/market expansion grid
61A __________ is a group of consumers who respond in a similar way to a given set of marketing efforts.
- Amarket segment
- Bcurrent marketing situation
- Cvalue delivery network
- Dvalue chain
62What is a mission statement?
- AIt describes the organization’s purpose
- BThe process of developing and maintaining a strategic fit between an organization’s goals and capabilities and its changing marketing opportunities
- CThe marketing logic by which a company hopes to create customer value
- DThe process of evaluating each market segment’s attractiveness
63__________ is turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.
- AMarketing implementation
- BSWOT analysis
- CMarketing control
- DMarket targeting
64Question marks are __________ .
- Alow-share business units in high-growth markets
- Bhigh-growth, high-share businesses or products
- Clow-growth, high-share businesses or products
- Dlow-growth, low-share businesses and products
65__________ is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.
- AMarket targeting
- BMarketing strategy
- CPortfolio analysis
- DStrategic planning
66What is a cash cow?
- AA low-growth, high-share business or product
- BA high-growth, high-share business or product
- CA low-share business unit in a high-growth market
- DA low-growth, low-share businesse or product
67What is management’s first step in developing a business portfolio?
- ATo identify the key businesses that make up the company, called strategic business units (SBUs)
- BTo assess the attractiveness of the company's various SBUs and decide how much support each deserves
- CTo determine what role each SBU will play in the future
- DTo add new products and units continuously so that some of them will become stars and, eventually, cash cows that will help finance other SBUs
68The growth-share matrix defines four types of SBUs: __________ are high-growth, high-share businesses or products.
- AStars
- BCash cows
- CQuestion marks
- DDogs
69__ is company growth through starting up or acquiring businesses outside the company’s current products and markets.
- ADiversification
- BProduct development
- CMarket development
- DMarket penetration
70What is a value delivery network?
- AThe company, its suppliers, its distributors, and its customers who partner with each other to improve the performance of an entire system
- BThe series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products
- CThe target market and the company’s position in it, including information about the market, product performance, competition, and distribution
- DA group of consumers who respond in a similar way to a given set of marketing efforts
71_________ is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.
- AStrategic planning
- BPortfolio analysis
- CMarketing strategy
- DMarket targeting
72How is marketing control defined?
- AIt is the measuring and evaluating of the results of marketing strategies and plans and taking corrective action.
- BIt is the turning of marketing strategies and plans into marketing actions.
- CIt is an overall evaluation of a company’s strengths, weaknesses, opportunities, and threats.
- DIt is the process of evaluating each market segment’s attractiveness.
73__________ is company growth by increasing sales of current products to current market segments without changing the product.
- AMarket penetration
- BMarket development
- CProduct development
- DDiversification
Información
- Descripción
- EXAM PREP CHAPTER 2
- Autor
- itachi uchiha
- Idioma
- English
- Visitas
- 422
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