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

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Question 21

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Which of the following provides a CORRECT ANSWER to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?

A) objectives and goals
B) mission statement
C) business portfolio
D) marketing and functional strategies
E) operational strategies

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Question 22

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Business portfolio planning involves two steps: ________ and ________.

A) identifying SBUs;assessing the attractiveness of SBUs
B) analysing the current business portfolio;shaping the future business portfolio
C) identifying internal strengths;identifying external opportunities
D) conducting a SWOT analysis;establishing marketing controls
E) identifying growth opportunities;evaluating growth opportunities

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Question 23

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Which of the following is a tool for monitoring strategic marketing performance?

When the makers of a ballpoint pen state they are in the communication equipment business,they are defining their mission too ________.

Marketing strategy consists of specific strategies for ________ markets,marketing mix and marketing expenditure level.

Mission statements should both fit the market environment and be motivating.

A marketing organisation's mission should NOT be stated as making more ________ and / or ________.

From the consumer's viewpoint,in this age of customer value and relationships,the various Ps might be better described in terms of Cs,such as these four: ________,________,________ and ________.

The process of customer value driven marketing involves ________,________,________ and ________.

When designing business portfolios,most companies are well advised to add a broad range of products and businesses to their organisation.

In the marketing mix,the element of promotion refers solely to advertising.

A marketing director is looking at whether her company's strategies are well matched to its opportunities.She is utilising ________.

A company's value chain is only as strong as its strongest link,or most effective department.

A mission statement is a statement of the organisation's ________,that is,what it wants to accomplish in the wider operating environment.

________ can be a company division,a product line within a division or sometimes a single product or brand.

In SWOT analysis,strengths and weaknesses refer to a firm's internal environment,while opportunities and threats refer to the external environment.

The first step in strategic planning is to ________.

A major resources firm has just developed a formal statement of its purpose.This firm has put together a mission statement.

The text suggests that instead of thinking of selling products,marketers would be wise to take the customer's view and think of ________.

________ should be market oriented and defined in terms of ________.