Question 1

The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.

Accepted Answer

A) True 
 B)False

Question 2

Berman Electronics, a chain of appliance stores in North America, caters to a wide range of customers. It has a marketing organization in which different operational specialists head different marketing activities. Berman Electronics is a(n)  ________.

Accepted Answer

A)   customer management organization
B)   niche marketer
C)   early adopter
D)   functional organization
E)   laggard

Question 3

A mission statement is a document embodying an organization's short-term goals.

Accepted Answer

A) True 
 B)False

Question 4

All of the following steps pertain to the marketing control process EXCEPT ________.

Accepted Answer

A)   setting goals
B)   measuring performance
C)   taking corrective action
D)   defining the company's mission
E)   evaluating the causes of gaps between expected and actual performance

Question 5

Describe the most common forms of marketing organizations.

Accepted Answer

Modern marketing departments can be arra...

Question 6

The best business portfolio is the one that ________.

Accepted Answer

A)   provides the greatest opportunity for increasing profits
B)   best fits the company's strengths and weaknesses to opportunities in the environment
C)   ensures that the company will realize increased share of market
D)   allows the company to decrease its overall costs
E)   entices customers to purchase even more products from the company

Question 7

What does a market segment consist of?

Accepted Answer

A market segment consists of c...

Question 8

Rob has been asked by his manager to identify a group of potential customers who would respond in a similar way to a given set of marketing efforts. In this instance, Rob has been asked to identify a ________.

Accepted Answer

A)   new product
B)   market segment
C)   marketing intermediary
D)   brand
E)   product line

Question 9

Making more sales to current customers without changing a firm's products is known as ________.

Accepted Answer

A)   market segmentation
B)   market penetration
C)   product diversification
D)   product development
E)   prospecting

Question 10

A marketing plan begins with a(n)  ________, which presents a brief summary of the main goals and recommendations of the plan for management review.

Accepted Answer

A)   budget
B)   opportunity analysis
C)   threat analysis
D)   executive summary
E)   action program

Question 11

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 portfolio

Question 12

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

Accepted Answer

A)   market segmentation
B)   diversification
C)   market targeting
D)   prospecting
E)   downsizing

Question 13

Most standard portfolio analysis methods evaluate SBUs on the ________.

Accepted Answer

A)   potential for niche or global marketing
B)   degree of product differentiation
C)   strength of the market or industry position
D)   accessibility to rural markets
E)   number of successful business acquisitions

Question 14

Within a company, who is most likely to perform strategic planning?

Accepted Answer

A)   the president and vice presidents
B)   the accounting and finance departments
C)   the marketing and sales departments
D)   cross-functional teams of divisional managers close to their markets
E)   the manufacturing and production departments

Question 15

The network made 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 is known as the ________.

Accepted Answer

A)   business portfolio
B)   supply chain
C)   marketing mix
D)   value delivery network
E)   internal value chain

Question 16

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)   SBU

Question 17

Which of the following best describes a strategic business unit?

Accepted Answer

A)   the internal value chain of a company
B)   the supply chain of a company
C)   the key businesses that make up a company
D)   the key channel intermediaries of a service company
E)   the key competitors of a company

Question 18

An American airline company started a grocery chain in Australia. This is an example of product development.

Accepted Answer

A) True 
 B)False

Question 19

Arrow is "a different kind of company, manufacturing a different kind of a car"; the RoadPro is "like nothing else." Statements such as these reflect a firm's ________.

Accepted Answer

A)   portfolio
B)   marketing segment
C)   positioning
D)   marketing mix
E)   mission statement

Question 20

A company's broad mission leads it to develop all of the following EXCEPT ________.

Accepted Answer

A)   budget objectives
B)   business objectives
C)   sales objectives
D)   marketing objectives
E)   customer engagement objectives

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

The best business portfolio is the one that ________.

Correct AnswerverifiedShow Answer

Most standard portfolio analysis methods evaluate SBUs on the ________.

Correct AnswerverifiedShow Answer

Describe the most common forms of marketing organizations.

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

A company's broad mission leads it to develop all of the following EXCEPT ________.

Correct AnswerverifiedShow Answer

All of the following steps pertain to the marketing control process EXCEPT ________.

Correct AnswerverifiedShow Answer

Making more sales to current customers without changing a firm's products is known as ________.

Correct AnswerverifiedShow Answer

An American airline company started a grocery chain in Australia. This is an example of product development.

Correct AnswerverifiedShow Answer

Which of the following best describes a strategic business unit?

Correct AnswerverifiedShow Answer

The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.

Correct AnswerverifiedShow Answer

Rob has been asked by his manager to identify a group of potential customers who would respond in a similar way to a given set of marketing efforts. In this instance, Rob has been asked to identify a ________.

Correct AnswerverifiedShow Answer

What does a market segment consist of?

Correct AnswerverifiedA market segment consists of c...View AnswerShow Answer

Arrow is "a different kind of company, manufacturing a different kind of a car"; the RoadPro is "like nothing else." Statements such as these reflect a firm's ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The network made 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 is known as the ________.

Correct AnswerverifiedShow Answer

Within a company, who is most likely to perform strategic planning?

Correct AnswerverifiedShow Answer

Berman Electronics, a chain of appliance stores in North America, caters to a wide range of customers. It has a marketing organization in which different operational specialists head different marketing activities. Berman Electronics is a(n) ________.

Correct AnswerverifiedShow Answer

A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review.

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

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

Correct AnswerverifiedShow Answer

A mission statement is a document embodying an organization's short-term goals.

Correct AnswerverifiedShow Answer

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Modern marketing departments can be arra...
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A market segment consists of c...
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