Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
CHAPTER 2 CRS Questions & Answers COMPANY AND MARKETING STRATEGY: Partnering to Build Customer Relationships Marketing planning takes place at the: 1. 2. 3. 4. Business unit level Product level Market level All of the above Copyright 2007, Prentice-Hall Inc. 2-2 Marketing planning takes place at the: 1. 2. 3. 4. Business unit level Product level Market level All of the above Market planning supports the company’s strategic planning efforts with more detailed plans for marketing opportunities. Copyright 2007, Prentice-Hall Inc. 2-3 Which of the following mission statements is market-oriented? 1. Revlon: We sell cosmetics 2. Disney: We run theme parks 3. Wal-Mart: We deliver value through low prices 4. Xerox: We make copying, fax, and other office machines Copyright 2007, Prentice-Hall Inc. 2-4 Which of the following mission statements is market-oriented? 1. Revlon: We sell cosmetics 2. Disney: We run theme parks 3. Wal-Mart: We deliver value through low prices 4. Xerox: We make copying, fax, and other office machines Market-oriented mission statements are defined in terms of customer needs, rather than products or technologies. Copyright 2007, Prentice-Hall Inc. 2-5 A strategic business unit is a unit of the firm: 1. that focuses on a single product 2. that focuses on a line of products 3. that can be planned independently 4. with authority over all other units Copyright 2007, Prentice-Hall Inc. 2-6 A strategic business unit is a unit of the firm: 1. that focuses on a single product 2. that focuses on a line of products 3. that can be planned independently 4. with authority over all other units Strategic business units (SBUs) have separate mission statements and objectives, which allow them to be planned independently from other company businesses. Copyright 2007, Prentice-Hall Inc. 2-7 Acme Bicycle Company wants to grow by diversification. To accomplish this, Acme will: 1. introduce new bicycle models 2. introduce modifications to its existing bicycle products 3. identify new market segments for its current products 4. start up or acquire businesses outside of its current products and markets Copyright 2007, Prentice-Hall Inc. 2-8 Acme Bicycle Company wants to grow by diversification. To accomplish this, Acme will: 1. introduce new bicycle models 2. introduce modifications to its existing bicycle products 3. identify new market segments for its current products 4. start up or acquire businesses outside of its current products and markets Diversification is the riskiest strategy as it requires that businesses develop new products in new markets. Copyright 2007, Prentice-Hall Inc. 2-9 Which of the following is NOT part of the value chain for a typical university? 1. 2. 3. 4. Off-campus apartment complexes Admissions and records office Financial aid office College faculty and staff Copyright 2007, Prentice-Hall Inc. 2-10 Which of the following is NOT part of the value chain for a typical university? 1. 2. 3. 4. Off-campus apartment complexes Admissions and records office Financial aid office College faculty and staff Admissions, financial aid, and college faculty and staff should strive to enhance the value of the collegiate experience for students. Apartment complexes outside of university control are not part of the value chain. Copyright 2007, Prentice-Hall Inc. 2-11 Acme Marketing has divided the shampoo market into five groups based on age. This is an example of: 1. Market positioning 2. Market segmentation 3. Market targeting 4. Marketing mix Copyright 2007, Prentice-Hall Inc. 2-12 Acme Marketing has divided the shampoo market into five groups based on age. This is an example of: 1. Market positioning 2. Market segmentation 3. Market targeting 4. Marketing mix Market segmentation is the process of dividing a larger market into distinct groups of buyers who have different needs, behaviors, or characteristics, such as age. Copyright 2007, Prentice-Hall Inc. 2-13 The four “Cs” of marketing include each of the following EXCEPT: 1. Convenience 2. Compatibility 3. Customer cost 4. Communication Copyright 2007, Prentice-Hall Inc. 2-14 The four “Cs” of marketing include each of the following EXCEPT: 1. Convenience 2. Compatibility 3. Customer cost 4. Communication The four “Cs” of marketing take the buyer’s perspective and include convenience, customer cost, communication, and customer solution. Copyright 2007, Prentice-Hall Inc. 2-15 In order to identify opportunities and problem areas, Acme hires an independent consultant to conduct a systematic examination of Acme’s environment, objectives, and strategies. This is an example of: 1. a SWOT analysis 2. marketing implementation 3. a marketing audit 4. a value delivery network Copyright 2007, Prentice-Hall Inc. 2-16 In order to identify opportunities and problem areas, Acme hires an independent consultant to conduct a systematic examination of Acme’s environment, objectives, and strategies. This is an example of: 1. a SWOT analysis 2. marketing implementation 3. a marketing audit 4. a value delivery network Marketing audits are a form strategic marketing control. Copyright 2007, Prentice-Hall Inc. 2-17 While __________ addresses the what and why of marketing activities, _________ addresses the who, where, when, and how. 1. marketing mix; marketing planning 2. marketing segmentation; marketing implementation 3. marketing planning; marketing implementation 4. marketing implementation; marketing positioning Copyright 2007, Prentice-Hall Inc. 2-18 While __________ addresses the what and why of marketing activities, _________ addresses the who, where, when, and how. 1. marketing mix; marketing planning 2. marketing segmentation; marketing implementation 3. marketing planning; marketing implementation 4. marketing implementation; marketing positioning Marketing implementation turns marketing plans into action. Copyright 2007, Prentice-Hall Inc. 2-19 Companies that sell one product line to many different types of markets should use: 1. Functional organization 2. Geographic organization 3. Product management organization 4. Market management organization Copyright 2007, Prentice-Hall Inc. 2-20 Companies that sell one product line to many different types of markets should use: 1. Functional organization 2. Geographic organization 3. Product management organization 4. Market management organization This method of organization allows the company to be organized around the needs of specific customers. Copyright 2007, Prentice-Hall Inc. 2-21