Exam 2: Company and Marketing Strategy: Partnering to Build

L'Oréal's supplier network is crucial to its success and it treats suppliers as respected partners.This illustrates the importance of an efficient ________.

The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.

Describe some of the problems with matrix approaches.

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

To improve its value delivery network,a company needs to examine the members of the supply chain.

A common practice among marketers is to identify and develop new markets for their current products.This practice is called ________.

Marketing control entails the following steps in order: setting goals,________,evaluating performance,and ________.

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." -Which of the following would be classified as an opportunity in a SWOT analysis of Tambun Fun Park ?

What type of strategy should a company use to manage its cash cows?

In the Boston Consulting Group approach,________ provides a measure of market attractiveness.

Why are many marketers today using customer-centered measures of marketing ROI?

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

A market segment consists of consumers who respond in different ways to a given set of marketing efforts.

The growth strategy of diversification involves offering modified or new products to current markets.

BMW makes "the ultimate driving machine," Ford is "built for the road ahead," and Kia promises "the power to surprise." Statements such as these reflect a firm's ________.

Mission statements should both emphasize the company's distinctive competencies in the marketplace and be motivating.

Increasingly,competition no longer takes place between individual competitors. Rather,it takes place between the entire _____________ networks created by these competitors.

Sound marketing requires which of the following?

Monsanto operates in many businesses,including pharmaceuticals and food products.The company defines its ________ as "improving the future of farming … improving the future of food … abundantly and safely."

Why is marketing analysis such an important part of marketing management?