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

ABC Fortunes has just developed a formal statement of its purpose.This firm has put together a mission statement.

Starbucks Coffee has recently begun selling and playing compilation CDs and is supporting its own XM satellite radio station.This represents which strategy for growth?

Define strategic planning.Discuss the steps involved.

How might a marketer of pens alter the "product" portion of the marketing mix when targeting female college students versus male college students?

Which of the following is the first step in strategic planning?

In the Boston Consulting Group approach,serves as a measure of company strength in the market.

Mandros International Foods evaluates each market segment's attractiveness and selects one or more segments to enter when considering adding new lines of imported foods.Mandros is engaged in positioned marketing.

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.

Acme,Inc.has slightly modified the production processes of its widgets and gadgets in order to tap into the Eastern European market.Acme is likely following a _ strategy.

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

According to the product/market expansion grid,what strategy would a fast- food hamburger restaurant follow if it offered a salad bar option during lunch hours?

After management has identified the key businesses making up its company,what is the next step in portfolio analysis?

Saturn is "a different kind of company,different kind of a car";the Hummer is "like nothing else." Statements such as these reflect a firm's .

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

In a basic SWOT analysis,the "S" stands for .

How might the BCG matrix represent a life cycle?

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

Refer to the scenario below to answer the following questions. Fun- Spot 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,Fun- Spot grew into a popular family attraction with 20 rides,a restaurant,and an outdoor performing arts theater. "My wife,Gail,and I didn't know what we were getting into," commented Ron Hart,the owner."We just knew that weekenders coming to the lakes in our rural area represented an untapped market." Today,thousands of visitors flock to Fun- Spot: families,children of all ages,and even senior citizens who enjoy strolling through the gardens and arbor. "There's something here for everyone," Gail Hart 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," Ron chimed in."We really don't know why we've been so successful.There is nothing else like Fun- Spot Fun Park in the area.We were just lucky." "I think it's the ambience of the park that has brought so many visitors," Gail added."We provide a 'total package' of entertainment.Plus,we try to change our rides and various attractions from time to time for variety" Ron and Gail Hart admitted that making every visitor happy is a priority."That has always been our philosophy," they said."Like it says on the entrance to the park,'We're here to make you happy!' And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly." -Gail and Ron strive to provide new offerings and entertainment options for their visitors.What type of strategy is this?

Lucy Ortiz is preparing a PowerPoint presentation of the marketing process to show at a sales meeting.should appear in the center of her diagram depicting marketing strategies and the marketing mix.

Of the following,it is most important for marketers to develop for their products.