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Exam 2: Elements of Marketing Strategy and Planning

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Question 41

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According to the BCG matrix,a business that is classified as a star has high growth and low market share.

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Question 42

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Marketing plays a central role in creating,communicating,delivering,and exchanging offerings that have value.

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Question 43

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The price of a barrel of oil has varied dramatically in the last few years.When the price of oil is high,automobile drivers look to find ways to drive less.An examination of this issue would be in the ____________ section of the marketing plan.

Identify Porter's three primary categories of competitive strategy.

In the vast majority of companies the conflicting demands of securing sensitive information and open disclosure of business procedures exist relatively harmoniously.However,occasionally the system fails and the result is scandal and even criminal activity.Hewlett-Packard (HP),one of the leading global technology companies,recently found itself involved in a scandal that led to the dismissal of two members of its Board of Directors and the firing of several employees.Describe how HP came to be in this position.Do you think the people involved were unethical by nature?

How do core competencies differ from distinctive competencies?

Jane,marketing manager at Oh,Baby!,a professional preschool center,thinks the firm should start an after school program to retain its current clients when children get old enough to go to school.Most likely,this would be classified as __________ in Ansoff's Product-Market Matrix.

Growth,stability,and retrenchment refer to a firm's position relating to its _______.

Every marketing plan includes an implementation element.These are sometimes called _____________.

Amanda White,the new CEO of the Too Big Corporation,wants to use the BCG model to analyze the corporation.You are to oversee the project that must be completed in the next 60 days.Amanda has called a meeting for corporate executives and the presidents of the eleven strategic business units.Your task at the meeting is to explain the BCG model and how you will implement it.What will you say? Include any weaknesses of the BDG model.

Round & Round,a maker of bicycle tires,has faced stiff competition from imported bicycle tires.In one high profit product line,tires for wheelbarrows and other carts,it faces almost no competition in the U.S.Round & Round thinks of the cart tires as a _____.

The business position dimension of the GE Business Screen includes all but _________.

What are the four types of utility?

The process of measuring marketing results and adjusting the marketing plan as needed is called ______________.

Describe the major factors in the competitive environmental factors.

Bliss Massage Therapy Center maintains a database of over 700 clients and sends each one a special discount offer in the month of his or her birthday.Most likely,this would be classified as __________ in Ansoff's Product-Market Matrix.

FRAGmasters Computer Games is creating a marketing plan.Managers are concerned with current distribution.An examination of this issue would be in the ____________ section of the marketing plan.

The marketing manager at MWJ Architects,a firm that specializes in design baseball parks,discovers a glitch in the software that the firm uses and that some of its most recent projects will come in over budget.A discussion of this would be included in the ______ section of the SWOT.

Hot and Cold Corp.makes disposable coffee and soft drink cups for use in fast food restaurants,hospitals,convenience stores and the like.The company is working on a new product that will biodegrade within five years of being put in a landfill.This promising new product line would most likely be classified as a ______________.

A mission statement does not include a discussion of the firm's strategic vision.