Question 1

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colours in its original apparel line is an example of a _ strategy.

Accepted Answer

A)  product development 
B)  product diversification 
C)  market development 
D)  market penetration 
E)  business harvesting

Question 2

Which of the following is true of strategic planning in a firm?

Accepted Answer

A)  It deals with adapting the firm to take advantage of changing marketing opportunities. 
B)  It focuses on the firm's internal environment rather than the external environment. 
C)  It involves preparing short-term investment objectives at the product level. 
D)  It occurs at the business-unit, product, and market levels rather than at the corporate level. 
E)  It deals with maintaining the company's current business ventures.

Question 3

Explain the term "value delivery network."

Accepted Answer

The answer of Explain the term "value delivery network."...

Question 4

Both market penetration and market development strategies primarily involve .

Accepted Answer

A)  modifying the company's product line 
B)  selling the company's current products 
C)  developing new products 
D)  selling in new as well as existing markets 
E)  leaving the current market

Question 5

Due to the limitations of the BCG and other formal portfolio planning models, many companies are placing responsibility for strategic planning in the hands of cross-functional teams of divisional managers who are close to their markets. In such organizations, strategic planning is .

Accepted Answer

A)  purposeful 
B)  centralized 
C)  informal 
D)  decentralized 
E)  limited

Question 6

CVS Pharmacy changed its name to CVS Health, reshaping and broadening its lines of products and services to align more appropriately with its revamped "better health" mission. For example, it stopped selling tobacco products altogether. How would this be classified in a SWOT analysis?

Accepted Answer

A)  weakness 
B)  strength 
C)  barrier to entry 
D)  resources 
E)  threat

Question 7

In the BCG matrix, _ refer to low-growth, high-share businesses or products.

Accepted Answer

A)  question marks 
B)  stars 
C)  heroes 
D)  dogs 
E)  cash cows

Question 8

A company can assess marketing ROI in terms of standard marketing performance measures, such as brand awareness, sales, or market share.

Accepted Answer

A) True 
 B)False

Question 9

refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Accepted Answer

A)  Market diversification 
B)  Market positioning 
C)  Market targeting 
D)  Market mixing 
E)  Market divesting

Question 10

The product/market expansion grid, like the BCG matrix, is used to identify growth opportunities.

Accepted Answer

A) True 
 B)False

Question 11

Ford's performance against Toyota depends on the quality of Ford's overall value delivery network versus
Toyota's.

Accepted Answer

A) True 
 B)False

Question 12

A _ is made up of a company, its suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system.

Accepted Answer

A)  value chain 
B)  value delivery network 
C)  growth-share matrix 
D)  business portfolio 
E)  shareholder network

Question 13

"At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented mission statement.

Accepted Answer

A) True 
 B)False

Question 14

A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets is called _.

Accepted Answer

A)  diversification 
B)  product development 
C)  vertical integration 
D)  market penetration 
E)  market development

Question 15

An SBU can be .

Accepted Answer

A)  a single brand 
B)  a company division 
C)  a product line within a division 
D)  a single product 
E)  all of the above

Question 16

Both product development strategies and diversification strategies involve .

Accepted Answer

A)  selling in a company's current market 
B)  developing a new product 
C)  selling in new as well as existing markets 
D)  leaving the current market 
E)  selling a company's current products

Question 17

True Value Hardware relies on its to coordinate and carry out activities that provide shoppers with the hardware and home improvement products they need at affordable prices along with top-notch customer service.

Accepted Answer

A)  suppliers 
B)  internal value chain 
C)  distributors 
D)  internal supply chain 
E)  portfolio network

Question 18

Discuss the four Ps of the typical marketing mix. Some people consider that there should be more than four marketing mix elements. Suggest two additional aspects that the marketing mix could include.

Accepted Answer

The answer of Discuss the four Ps of the typical...

Question 19

Business portfolio analysis is defined as the process in which management _ _.

Accepted Answer

A)  studies the products and strategies of competitors to improve the company's own products 
B)  assesses the attractiveness of an SBU's market and the strength of its position in the market 
C)  segments the company's markets to reach target consumers effectively 
D)  analyzes consumer feedback in order to better position the company's brand image 
E)  conducts marketing research to evaluate the company's marketing strategy

Question 20

Marketing department actions can increase purchasing costs, disrupt production schedules, increase inventories, and create budget headaches. Thus, other departments may the marketing department's efforts.

Accepted Answer

A)  resist 
B)  encourage 
C)  support 
D)  develop 
E)  favour

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

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colours in its original apparel line is an example of a _ strategy.

Which of the following is true of strategic planning in a firm?

Explain the term "value delivery network."

Both market penetration and market development strategies primarily involve .

Due to the limitations of the BCG and other formal portfolio planning models, many companies are placing responsibility for strategic planning in the hands of cross-functional teams of divisional managers who are close to their markets. In such organizations, strategic planning is .

CVS Pharmacy changed its name to CVS Health, reshaping and broadening its lines of products and services to align more appropriately with its revamped "better health" mission. For example, it stopped selling tobacco products altogether. How would this be classified in a SWOT analysis?

In the BCG matrix, _ refer to low-growth, high-share businesses or products.

A company can assess marketing ROI in terms of standard marketing performance measures, such as brand awareness, sales, or market share.

refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

The product/market expansion grid, like the BCG matrix, is used to identify growth opportunities.

Ford's performance against Toyota depends on the quality of Ford's overall value delivery network versus Toyota's.

A _ is made up of a company, its suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system.

"At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented mission statement.

A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets is called _.

An SBU can be .

Both product development strategies and diversification strategies involve .

True Value Hardware relies on its to coordinate and carry out activities that provide shoppers with the hardware and home improvement products they need at affordable prices along with top-notch customer service.

Discuss the four Ps of the typical marketing mix. Some people consider that there should be more than four marketing mix elements. Suggest two additional aspects that the marketing mix could include.

Business portfolio analysis is defined as the process in which management _ _.

Marketing department actions can increase purchasing costs, disrupt production schedules, increase inventories, and create budget headaches. Thus, other departments may the marketing department's efforts.