Question 1

A company can ________ an SBU by selling it or phasing it out and using the resources elsewhere.

Accepted Answer

A)   divest
B)   promote
C)   expand
D)   harvest
E)   holdF) A) and E)
G) C) and E)

Question 2

RedFin manufactures diving equipment that is highly regarded by customers worldwide. Each department in RedFin contributes to its success and can be thought of as a(n)  ________.

Accepted Answer

A)   link in the company's internal value chain
B)   separate organization
C)   independent subsidiary of the company
D)   separate market segment
E)   SBUF) A) and B)
G) A) and C)

Question 3

Describe the most common forms of marketing organizations.

Accepted Answer

Modern marketing departments can be arra...

Question 4

Which of the following is NOT something a company must determine when analyzing its current business portfolio?

Accepted Answer

A)   which businesses should receive more investment
B)   which businesses should receive less investment
C)   which businesses should receive no investment
D)   which businesses should be sold or closed
E)   which businesses shape the future portfolioF) B) and D)
G) A) and E)

Question 5

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is known as market diversification.

Accepted Answer

A) True 
 B)False

Question 6

Market segmentation can be best described as the process of ________.

Accepted Answer

A)   assigning specific human attributes to a given brand
B)   dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs
C)   evaluating each market segment's attractiveness and selecting one or more segments to enter
D)   turning marketing plans into marketing actions to accomplish strategic marketing objectives
E)   maintaining a strategic fit between organizational goals and changing marketing opportunitiesF) A) and B)
G) A) and C)

Question 7

The major activity in strategic planning is product innovation.

Accepted Answer

A) True 
 B)False

Question 8

In the marketing mix, design, packaging, services, and variety can be categorized under ________.

Accepted Answer

A)   product
B)   price
C)   promotion
D)   place
E)   positionF) B) and E)
G) A) and E)

Question 9

FencePro, a local company, has developed an entirely new mounting system for chain link fences. After acquiring a distributor, FencePro now has the ability to market its products nationwide. FencePro is most likely following a ________ strategy.

Accepted Answer

A)   market penetration
B)   market development
C)   downsizing
D)   product adaptation
E)   product developmentF) A) and C)
G) B) and C)

Question 10

Which of the following is the first step in strategic planning?

Accepted Answer

A)   setting short-term goals
B)   developing the business portfolio
C)   defining the organizational mission
D)   formulating the key marketing strategies
E)   identifying the organization's weaknesses and the threats it facesF) D) and E)
G) B) and E)

Question 11

Which of the following is true with regard to geographic organization?

Accepted Answer

A)   It is the most common form of marketing organization.
B)   Different marketing activities are headed by a functional specialist.
C)   It requires salespeople to have international experience.
D)   It reduces the overall efficiency of salespeople.
E)   It allows salespeople to work with a minimum of travel time and cost.F) All of the above
G) B) and E)

Question 12

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.

Accepted Answer

A)   market penetration
B)   product development
C)   mass marketing
D)   market development
E)   product adaptationF) B) and D)
G) A) and D)

Question 13

Market development involves company growth by identifying and developing new market segments for current company products.

Accepted Answer

A) True 
 B)False

Question 14

________ provides a complete analysis of the company's situation.

Accepted Answer

A)   A SWOT analysis
B)   A marketing audit
C)   Regression analysis
D)   Return on marketing investment
E)   Marketing budget evaluationF) A) and B)
G) A) and E)

Question 15

________ refer(s)  to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

Accepted Answer

A)   Field automation systems
B)   Market segments
C)   Market share
D)   Marketing dashboards
E)   Line extensionsF) C) and D)
G) A) and D)

Question 16

According to the Boston Consulting Group approach, ________ provides a measure of market attractiveness.

Accepted Answer

A)   product attribute
B)   product design
C)   market penetration
D)   market growth rate
E)   market segmentationF) A) and B)
G) A) and C)

Question 17

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

Accepted Answer

A)   price
B)   marketing implementation
C)   value chain
D)   marketing strategy
E)   downsizingF) All of the above
G) B) and D)

Question 18

A company's mission statement provides the depth needed for all segments of the company to reach their goals.

Accepted Answer

A) True 
 B)False

Question 19

Market penetration involves offering modified or new products to current markets.

Accepted Answer

A) True 
 B)False

Question 20

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

Accepted Answer

A)   local marketing
B)   market development
C)   diversification
D)   product adaptation
E)   product developmentF) A) and E)
G) B) and C)

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

________ provides a complete analysis of the company's situation.

Correct AnswerverifiedShow Answer

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.

Correct AnswerverifiedShow Answer

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

Correct AnswerverifiedShow Answer

A company can ________ an SBU by selling it or phasing it out and using the resources elsewhere.

Correct AnswerverifiedShow Answer

FencePro, a local company, has developed an entirely new mounting system for chain link fences. After acquiring a distributor, FencePro now has the ability to market its products nationwide. FencePro is most likely following a ________ strategy.

Correct AnswerverifiedShow Answer

Which of the following is true with regard to geographic organization?

Correct AnswerverifiedShow Answer

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is known as market diversification.

Correct AnswerverifiedShow Answer

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

Correct AnswerverifiedShow Answer

Which of the following is NOT something a company must determine when analyzing its current business portfolio?

Correct AnswerverifiedShow Answer

According to the Boston Consulting Group approach, ________ provides a measure of market attractiveness.

Correct AnswerverifiedShow Answer

A company's mission statement provides the depth needed for all segments of the company to reach their goals.

Correct AnswerverifiedShow Answer

Market penetration involves offering modified or new products to current markets.

Correct AnswerverifiedShow Answer

Market development involves company growth by identifying and developing new market segments for current company products.

Correct AnswerverifiedShow Answer

The major activity in strategic planning is product innovation.

Correct AnswerverifiedShow Answer

Which of the following is the first step in strategic planning?

Correct AnswerverifiedShow Answer

In the marketing mix, design, packaging, services, and variety can be categorized under ________.

Correct AnswerverifiedShow Answer

RedFin manufactures diving equipment that is highly regarded by customers worldwide. Each department in RedFin contributes to its success and can be thought of as a(n) ________.

Correct AnswerverifiedShow Answer

Market segmentation can be best described as the process of ________.

Correct AnswerverifiedShow Answer

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

Correct AnswerverifiedShow Answer

Describe the most common forms of marketing organizations.

Correct AnswerverifiedModern marketing departments can be arra...View AnswerShow Answer

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Modern marketing departments can be arra...
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