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Exam 2: Company and Marketing Strategy: Partnering to Build

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Question 1

Multiple Choice

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In the BCG approach,________ are high-share,high-growth businesses or products.They need heavy investment to finance rapid growth.When their growth slows down,they turn into ________.

A) cash cows; stars
B) question marks; dogs
C) stars; question marks
D) stars; cash cows
E) dogs; cash cows

F) All of the above
G) A) and B)

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Question 2

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The four Cs concept takes the buyer's view of the market.

A) True
B) False

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Question 3

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Briefly discuss how marketers measure return on marketing investment,explaining why this figure can be difficult to assess.

A company's mission statement serves as a statement of ________.

Refer to the scenario below to answer the following questions. Tambun Fun Park began as a small amusement park in 1985. With nothing more than a merry-go-round, a slide, pony rides, and an ice cream stand, Tambun grew into a popular family attraction with 20 rides, a restaurant, and an outdoor performing arts theater. "My wife, Kamisah, and I didn't know what we were getting into," commented Ahmad, the owner. "We just knew that weekenders coming to the Ipoh area represented an untapped market." Today, thousands of visitors flock to Tambun Fun Park-families, children of all ages, even senior citizens who enjoy strolling through the gardens and arbor. "There's something here for everyone," Kamisah said with a smile. "Dozens of companies hold annual company picnics here. We have welcomed class field trips. And we even had one wedding here at the park!" "Here's the funny thing," Ahmad chimed in. "We really don't know why we've been so successful! There is nothing else like Tambun Fun Park in the area. We were just lucky." "I think it's the ambience of the park," Kamisah added, "that has brought so many visitors. We provide a 'total package' of entertainment. Plus, we try to change our rides and various attractions from time to time." Kamisah and Ahmad admitted that making every visitor happy is a priority. "That has always been our philosophy," they said. "And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly." -Kamisah and Ahmad change the rides and various attractions from time to time to provide new offerings for their visitors.What type of strategy is this?

Into what quadrant of the product/market expansion grid would a modified or new product fall?

How might Party Planning Paradise,a company that sells a wide range of party supplies for all occasions,implement a market development strategy?

Which of the following involves evaluating each market segment's attractiveness and selecting one or more segments to enter?

All of the following are accurate guidelines for a company's mission statement EXCEPT which one?

While a valuable planning tool,the BCG matrix is problematic in that it focuses on classifying current businesses but provides little advice for __________________.

Your firm is attempting to divide up the total market to determine the best segments it can serve.Which is the correct order of doing so?

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

Define marketing strategy.Discuss the steps in formulating marketing strategy.

______________ is a strategy for company growth by identifying and developing new market segments for current company products.

Most portfolio analysis methods evaluate SBUs on two dimensions,namely ________ and ________.

An increasingly large number of firms are shifting their organizational focus from ________ to ________.

For Hyundai Corporation,customers who care about the price of a car and its operating economy make up one ________.

Which of the following is the marketing logic by which a company hopes to create customer value and achieve profitable relationships?

"At Lee's Place,we serve great dim sum" is a product-oriented business definition.

When an organization identifies and develops new markets for its current products and services,it is engaged in market development.