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

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Question 51

Multiple Choice

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________ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

A) Porter's five forces
B) A breakeven
C) A regression
D) A SWOT
E) A cluster

F) A) and B)
G) A) and C)

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Question 52

Multiple Choice

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The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities.

A) geographic
B) product management
C) functional
D) customer management
E) market

F) B) and E)
G) A) and E)

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Question 53

Multiple Choice

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Refer to the scenario below to answer the following question(s) . 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 the arbors. "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 the park's motto at the entrance reads, '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." -Which of the following would be classified as an opportunity in a SWOT analysis of Fun-Spot?

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

Which of the following is true with regard to the product/expansion grid?

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

Which of the following is true with regard to a market segment?

The four marketing management functions are analysis, planning, implementation, and control.

Which of the following is true with regard to geographic organization?

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

Most standard portfolio analysis methods evaluate SBUs on the ________.

Emerson Studios has designed its marketing organization along the lines of a ________ organization in which operational specialists head different marketing activities.

What is a marketing strategy? How do marketing strategies help firms?

Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most likely an example of a ________.

Which of the following Ps in the marketing mix describes the goods-and-services combination the company offers to the target market?

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

A product's position is the place it occupies relative to competitors' products in consumers' minds.