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1、Chapter2CompanyandMarketingStrategy:PartneringtoBuildCustomerRelationships1) Whichofthefollowingisthefirststepinstrategicplanning?A) setobjectivesandgoalsB) developthebusinessportfolioC) definethecompanymissionD) planmarketingstrategiesE) identifythreatsandweaknessesAnswer:CDiff:1PageRef:39Skill:Con
2、ceptObjective:2-12) WhichofthefollowingisNOTastepinthestrategicplanningprocess?A) definingthecompanymissionB) settingcompanyobjectivesandgoalsC) designingthebusinessportfolioD) planningmarketingandotherfunctionalstrategiesE) evaluatingallmembersofthevaluechainAnswer:EDiff:2PageRef:39Skill:ConceptObj
3、ective:2-13) Whichofthefollowingprovidesananswertothesequestions:Whatisourbusiness?Whoareourcustomers?Whatdoourcustomersvalue?Whatshouldourbusinessbe?A) objectivesandgoalsB) amissionstatementC) abusinessportfolioD) marketingandfunctionalstrategiesE) operationalstrategiesAnswer:BDiff:2PageRef:39AACSB
4、:CommunicationSkill:ConceptObjective:2-14) shouldbemarketorientedanddefinedintermsof.A) Annualplans;productneedsB) Strategicplans;mpanyneedsC) 1.ong-rangeplans;mpanyneedsD) Missionstatements;customers*needsE) Objectives;mpetitors,threatsAnswer:DDiff:2PageRef:39AACSB:CommunicationSkill:ConceptObjecti
5、ve:2-15) AllofthefollowingareaccurateguidelinesforacompanysmissionstatementEXCEPTwhichone?A) Amissionstatementshouldberealistic.B) Amissionstatementshouldbenarrow.C) Amissionstatementshouldemphasizethempany,sstrengthsinthemarketplace.D) Amissionstatementshouldbespecific.E) Amissionstatementshouldmot
6、ivateemployees.Answer:BDiff:3PageRef:39AACSB:CommunicationSkill:ConceptObjective:2-16) Ampany,smissionstatementservesasastatementof.A)factB)valuesC)purposeD)financialgoalsE)employeecommitmentAnswer:CDiff:2PageRef:39AACSB:CommunicationSkill:ConceptObjective:2-17) WhichofthefollowingisNOTamarket-orien
7、tedbusinessdefinition?A)B)C)D)E)Answer:BDiff:2PageRef:40AACSB:ReflectiveThinkingSkill:ConceptObjective:2-18) Allofthefollowingareexamplesofproduct-orientedmissionstatements,EXCEPTwhichone?A)B)C)D)E)Answer:DDiff:2PageRef:40AACSB:ReflectiveThinkingSkill:ConceptObjective:2-19) Whichofthefollowingisthep
8、rincipleobjectiveofamarket-orientedmissionstatement?A) tosatisfybasiccustomerneedsB) tosatisfybasicsupplierneedsC) tosatisfybasicstockholderneedsD) tosatisfybasicownerneedsE) tosatisfybasicpartnershipneedsAnswer:ADiff:2PageRef:39Skill:ConceptObjective:2-110) Thecollectionofbusinessesandproductsthatm
9、akeupampanyiscalledits.A) strategicbusinessunitB) missionstatementC) strategicplanD) businessportfolioE) operationalfactorAnswer:DDiff:1PageRef:41Skill:ConceptObjective:2-211) Whichofthefollowingcanbeacompanydivision,aproductlinewithinadivision,orsometimesasingleproductorbrand?A) amarketB) theBCGC)
10、anSBUD)aPLCE)avaluedeliverynetworkAnswer:CDiff:2PageRef:41Skill:ConceptObjective:2-212) Aftermanagementhasidentifiedthekeybusinessesmakingupitsmpany,whatisthenextstepinportfolioanalysis?A) identifyingbusinessesinwhichtoinvestB) assessingtheattractivenessofitsSBUsC) decidingwhethertoharvestanybusines
11、sesD) completingshort-rangeplanningE) identifyingSBUsSkill:ConceptObjective:2-213) Thebestknownproductportfolioplanningmethodwasdevelopedby.A) theBostonConsultingGroupB) PhilipKotlerC) Han/ardUniversityD) theSRIConsultingFirmE) JamesP.HessAnswer:ADiff:2PageRef:41Skill:ConceptObjective:2-214) Mostpor
12、tfolioanalysismethodsevaluateSBUsontwodimensions,namelyandA) marketshare;strengthoftheSBU,spositionB) marketdiversification;relativemarketshareC) marketorindustryattractiveness;strengthoftheSBUspositionD) marketgrowthrates;profitsE) marketpenetration;marketdevelopmentAnswer:CDiff:2PageRef:41Skill:Co
13、nceptObjective:2-215) IntheBostonConsultingGroupapproach,providesameasureofmarketattractiveness.A) relativemarketshareB) marketdevelopmentC) marketpenetrationD) marketgrowthrateE) marketsegmentationAnswer:DDiff:2PageRef:41Skill:ConceptObjective:2-216) IntheBostonConsultingGroupapproach,servesasameas
14、ureofcompanystrengthinthemarket.A) relativemarketshareB) marketdevelopmentC) marketdiversificationD) marketgrowthrateE) marketsegmentationAnswer:ADiff:2PageRef:41Skill:ConceptObjective:2-217) TheBCGgrowth-sharematrixclassifiesfourtypesoffSBUs.Theyare,and.A) product;price;promotion;placementB) sales;
15、marketshare;price;promotionC) stars;cashws;questionmarks;dogsD) planning;implementing;leading;controllingE) marketpenetration;marketdevelopment;productdevelopment;diversificationAnswer:CDiff:1PageRef:42Skill:ConceptObjective:2-218) IntheBCGapproach,arehigh-share,high-growthbusinessesorproducts.Theyn
16、eedheavyinvestmenttofinancerapidgrowth.Whentheirgrowthslowsdown,theyturnintoA) cashcows;starsB) questionmarks;dogsC) stars;questionmarksD) stars;cashwsE) dogs;cashwsAnswer:DDiff:2PageRef:41Skill:ConceptObjective:2-219) arelow-growth,highsharebusinessesorproducts.Theygeneratealotofcashthatthefirmuses
17、topayitsbillsandsupportotherSBUsthatneedinvestment.A) StarsB) CashcowsC) QuestionmarksD) DogsE) CatsAnswer:BDiff:2PageRef:42Skill:ConceptObjective:2-220) ThefourpossiblestrategiesthatcanbepursuedforeachSBUarebuilding,holding,and.A) harvesting;divestingB) promoting;sellingC) downsizing;expandingD) di
18、versifying;penetratingE) developing;growingAnswer:ADiff:3PageRef:42Skill:ConceptObjective:2-221) Whichofthefollowingisausefultoolforidentifyinggrowthopportunities?A) theBCGmatrixB) thebusinessportfolioC) theproduct/marketexpansiongridD) thevaluechainE) thevaluedeliverynetworkAnswer:CDiff:1PageRef:43
19、Skill:ConceptObjective:2-222) Starbuckshasintroducedadebitcardthatletscustomersprepayforcoffeeandsnacks.ThiseffortbyStarbucksmanagementisanexampleof.A) marketdevelopmentB) productdevelopmentC) diversificationD) marketpenetrationE) productadaptationAnswer:DDiff:3PageRef:43-45AACSB:ReflectiveThinkingS
20、kill:ConceptObjective:2-223) Whileavaluableplanningtool,aproblemwithusingtheBCGmatrixcentersisthatitfocusesonA) thefutureinsteadofthepresentB) thepresentinsteadofthefutureC) financialissuesinsteadofthecustomerD) thecustomerinsteadofsuppliersE) thepastinsteadofthepresentAnswer:BDiff:3PageRef:42Skill:
21、ConceptObjective:2-224) Acommonpracticeamongmarketersistoidentifyanddevelopnewmarketsfortheirexistingproducts.Thispracticeiscalled.A) marketdevelopmentB) productdevelopmentC) marketpenetrationD) marketskimmingE) dualadaptationSkill:ConceptObjective:2-225) Whichofthefollowingentailsreducingthebusines
22、sportfoliobyeliminatingproductsthatnoIongerfitthecompanysoverallstrategy?A) marketsegmentationB) theBCGapproachC) productlineextensionD) downsizingE) marketredesignAnswer:DDiff:1PageRef:46Skill:ConceptObjective:2-226) Theprocessofcustomer-drivenmarketinginvolveswhichofthefollowing?A) product;price;p
23、romotion;adaptationB) marketsegmentation;targetmarketing;differentiation;positioningC) marketinganalysis;planning;implementation;feedbackD) analysis;targeting;implementation;ntrolE) problemidentification;informationsearch;decision;implementationAnswer:BDiff:2PageRef:49Skill:ConceptObjective:2-427) T
24、odaythefourPsarecomparedtothefourCs.Productandplacearecalledand,respectively.A) convenience;customersolutionB) customerst;convenienceC) communication;customersolutionD) customersolution;convenienceE) communication;convenienceAnswer:DDiff:3PageRef:52Skill:ConceptObjective:2-428)A) situationB) solutio
25、nsC) satisfactionsD) strengthsE) strategyAnswer:DDiff:1PageRef:53Skill:ConceptObjective:2-529) InSWOTanalysis,whichofthefollowingreferstofactorsintheexternalenvironment?A) strengthsB) strategiesC) weaknessesD) opportunitiesE) trendsAnswer:DDiff:2PageRef:53Skill:ConceptObjective:2-530)Answer:FALSEDif
26、f:3PageRef:40AACSB:ReflectiveThinkingSkill:ApplicationObjective:2-131) Themajoractivityinstrategicplanningisstrategicbusinessunitplanning,wherebymanagementevaluatestheproductsandbusinessesmakingupthecompany.Answer:FALSEDiff:2PageRef:41Skill:ConceptObjective:2-232) Thepurposeofstrategicplanningistofi
27、ndwaysinwhichyourcompanycanbestuseitsstrengthstotakeadvantageofattractiveopportunitiesintheenvironment.Answer:TRUEDiff:2PageRef:41Skill:ConceptObjective:2-233)cashtomaintainthemselves.Answer:FALSEDiff:3PageRef:42Skill:ConceptObjective:2-234) Whenafirmfindsproductsorbusinessesthatnolongerfititsoveral
28、lstrategy,itmustcarefullymilk,harvest,orbetterdevelopthem.Answer:FALSEDiff:2PageRef:46Skill:ConceptObjective:2-235) Amarketsegmentconsistsofnsumerswhorespondindifferentwaystoagivensetofmarketingefforts.Answer:FALSEDiff:1PageRef:49Skill:ConceptObjective:2-436) Whenacompanypositionsitsproduct,itshould
29、firstidentifypossiblecustomervaluedifferenceswithinamarketSegmentthatcouldbethebasisofampetitiveadvantagefortheproduct.Answer:TRUEDiff:3PageRef:50Skill:ConceptObjective:2-437) Themarketingmixnsistsofproduct,price,place,positioning,andpromotion.Answer:FALSEDiff:2PageRef:48AACSB:AnalyticSkillsSkill:Ap
30、plicationObjective:2-438) Thefourmarketingmanagementfunctionsareanalysis,planning,implementation,andntrol.Answer:FALSEDiff:1PageRef:53Skill:ConceptObjective:2-539) Definestrategicplanning.Discussthestepsinvolved.Answer:Theprocessofdevelopingandmaintainingastrategicfitbetweentheorganizationsgoalsandc
31、apabilitiesanditsmarketingopportunitiesiscalledstrategicplanning.Attheoutset,beginningattherporatelevel,eachmpanymustdefineitsoverallpurposeandmission.Whatisourbusiness?Whoisthecustomer?Whatdoourcustomersvalue?Answerstothesequestionsareucialinwritingaclearmissionstatement.Missionstatementsneedtobeca
32、refullydefinedintermsofcustomerneeds.Missionsshouldberealistic,motivating,andfitthemarketenvironment.Missionsthenleadtosettingbusinessandmarketingobjectives/goalsintheplanningprocess.Thisisfollowedbydecisionsregardingwhatportfolioofbusinessesandproductsisbestforthecompanyandhowmuchsupporttogiveeacho
33、ne.Next,eachbusinessandproductdevelopsdetailedmarketingandotherfunctionalstrategies.Inthisstep,plansaredrawnatthebusinessunit,product,andmarketlevelsinsupportofcompanywideplans.Diff:2PageRef:38AACSB:CommunicationSkill:ConceptObjective:2-140) Definemarketingstrategy.Discussthestepsinformulatingmarket
34、ingstrategy.Answer:Themarketinglogicbywhichacompanyhopestoachieveprofitablerelationshipsiscalleditsmarketingstrategy.Marketingstrategyformulationentailsfourspecificsteps:marketsegmentation,markettargeting,differentiation,andpositioning.Theprocessofdividingamarketintodistinctgroupsofbuyerswithdiffere
35、ntneeds,characteristics,orbehavioriscalledmarketsegmentation.Markettargetinginvolvesevaluatingeachmarketsegmentsattractivenessandselectingoneormoresegmentstoenter.Acompanyshouldtargetsegmentsinwhichitcanprofitablygeneratethegreatestcustomervalueandsustainthatvalueovertime.Effectivepositioningbeginsw
36、ithactuallydifferentiatingthecompanysmarketingOffersothatitgivesnsumersgreatervalue.Positioningisdefinedascreatingadistinctimageofaproductintheeyesoftargetconsumers.Aproductspositioningshouldtakeadvantageofacompetitiveadvantagewithinthemarkettarget.Diff:3PageRef:48-49AACSB:CommunicationSkill:ApplicationObjective:2-4
