Exam 2: Company and Marketing Strategy: Partnering to Build

Which of the following is NOT a market-oriented business definition?

Trec Bikes has developed an entirely new mounting system for bicycles to be mounted on cars.Although it is a Singapore company,through the acquisition of a distributor it now has the ability to market its products nationwide.Trec Bikes is most likely following a ________ strategy.

Holiday Inn has divided the total customer market into smaller segments and selected the most promising segments.Deciding what position it wants to occupy in these segments is called targeting.

In terms of a SWOT analysis,Ray-Ban believes it can use the ________ of its reputation as a sunglass manufacturer and an iconic brand to target each new generation of consumers.

In the BCG matrix,income from ________ can be used to help the company pay its bills and to support other SBUs that need investment.

A well crafted mission statement should lead to _______ business and marketing objectives.

IBM has its sales and marketing people assigned to markets in specific countries,regions,and districts.This is an example of which type of marketing organization?

When dealing with a(n)________,managers must decide whether to invest in it in an attempt to build it into a star or whether to phase it out.

When a firm finds products or businesses that no longer fit its overall strategy,it should carefully milk,harvest,or better develop them.

In the BCG matrix,"dogs" are low-growth businesses and products that do not generate enough cash to maintain themselves.

Singapore American-food chain Botak Jones has identified a group of potential customers who seem to respond in a similar way to a series of radio advertisements for its products.Botak Jones has identified a(n)________.

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." -Tambun Fun Park's visitors - "families,children of all ages,even senior citizens" are its ________.

Mission statements should be realistic and general in nature.

In SWOT analysis,which of the following would be considered a strength?

Business portfolio planning involves two steps: ________ and ________.

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

Why should a mission statement be market oriented instead of product or technology oriented?

Which of the following is the arranging for a product to occupy a clear,distinctive,and desirable place,relative to competing products,in the minds of target consumers?

Which of the following is NOT a reason that a firm might want to abandon products or markets?

The image of a product in the minds of consumers is called market segmentation.