Exam 3: Elements of Marketing Strategy, Planning, and Competition

Time Express, a well-established North American delivery service, wants to expand service into Central and South America. According to Igor Ansoff's Product-Market Matrix, this is classified as the ________ strategy.

From a customer's perspective, value is the ratio of the bundle of benefits a customer receives from an offering compared to the costs incurred by the customer in acquiring that bundle of benefits.

Which of the following helps avoid scrambling to decide how to adjust marketing strategies when performance against a forecast is higher or lower than expected?

Victor Inc., a producer of headphones used with cell phones and MP3 players, uses contract manufacturing overseas. The firm is concerned that tariffs may be increased. Under which component of situation analysis will an examination of this issue be found?

What are the major categories for analysis within the external environment? Give an example of each.

Companies in some business cultures based outside the United States seem to have less pressure to achieve high levels of growth.

Outbound logistics refers to the distribution of products.

In the BCG matrix, ________ are characterized by high share and low growth and are the key sources of internal cash generation for a firm.

Which of the following is LEAST likely to be included under action plans?

Dave is a close-up magician who is famous for his card tricks. He creates and sells DVDs of his magic tricks. Lately he has been having some trouble getting the DVDs produced in a timely manner. Of the five primary activities in the value chain, this problem is most likely to occur in ________.

The GE Business Screen portfolio model evaluates businesses on the dimensions of market attractiveness and business position.

A firm's competitive strategy leads it to decide if it can grow and if not, how to survive through stability or retrenchment.

Which of the following is most likely to be considered a goal rather than an objective?

Mammoth Foods, a major agricultural corporation, recently purchased MJS Organic Foods Co. MJS was established six years ago and has become a major supplier to restaurants in the northeastern United States. The organic herbs, vegetables, and fruit market is expected to have a double-digit growth rate over the next decade. Under the Boston Consulting Group (BCG) Growth-Share Matrix, MJS would most likely be classified as a ________.

Biz Solutions has 12 call centers worldwide handling customer service issues for a variety of companies. The firm is considering the purchase of a software firm that serves the oil and gas industry. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.

Which of the following is TRUE of utility?

When Sunshine Inc., a cosmetics manufacturer, introduced an additional line of perfumes, the response from its existing customers was good. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.

Which of the following is NOT one of the five primary activities in the value chain?

Samsung's first value proposition when the brand was launched in the United States was price and functionality.

The best place in a SWOT analysis to list a highly-competent workforce is ________.