#Marketing An Introduction 14E How To Deliver Improved

Which of the following mission statements will best suit the company? A) to create the best possible products and sell them at the best possible prices B) to sell hypoallergenic cosmetics products made only from the finest organic ingredients C) to give customers the complexion they dream about by providing products suited to their needs D) to become a market leader in every cosmetics product category E) to increase our market share in the cosmetics segment and increase profit margins Answer: C LO: 2-1: Explain company-wide strategic planning and its four steps. The CEO stresses that the new mission statement should be market-oriented rather than productoriented. 2) Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. Answer: D LO: 2-1: Explain company-wide strategic planning and its four steps. E) It involves preparing short-term investment objectives at the product level. D) It deals with adapting the firm to take advantage of changing marketing opportunities.

Answer: FALSE LO: 2-1: Explain company-wide strategic planning and its four steps. 4) Most firms begin the strategic planning process by developing detailed marketing and departmental plans that support a company-wide plan. A) marketing strategy B) marketing objective C) strategic plan D) mission statement E) market portfolio Answer: D LO: 2-1: Explain company-wide strategic planning and its four steps.

Marketing An Introduction 14E How To Deliver Improved

Answer: FALSE LO: 2-1: Explain company-wide strategic planning and its four steps. 6) 'At Dodson, we sell shoes' is a market-oriented business definition. Answer: TRUE LO: 2-1: Explain company-wide strategic planning and its four steps. The second European edition of this classic text has been updated with the latest ideas in marketing and with numerous new European marketing examples and case studies.2 5) An organization's mission statement should emphasize its intentions toward customers and the customer experience the organization seeks to create. Available in: New, Used, Rent, Ebook, International, Instructor.Marketing: An Introduction is your clear, comprehensive and concise guide to the key ideas in marketing, focusing on how to deliver improved customer value in order to achieve marketing success.

In such organizations, strategic planning is. Answer: C 16) 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. E) The Terrania market for healthcare products is expanding rapidly. C) The demand for analgesic drugs in the Terrania market is expected to maintain a low-growth, high-share status D) Febex is rapidly gaining market share over Cetaprin due to aggressive marketing efforts. B) A customer survey shows that Cetaprin users do not prefer it to other analgesics in the market. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix? A) Omni Healthcare often takes money from other strategic business units to support Cetaprin.

C) The income from one SBU cannot be used to support other business units. B) The positions of SBUs in the growth-share matrix rarely change over time. A) dogs B) cash cows C) value chains D) stars E) question marks Answer: A 56 20) Which of the following statements is true in the context of the BCG growth-share matrix? A) Stars often need heavy investment to finance their rapid growth in a market. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark? A) Blue a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily B) Electra a home entertainment system that has a strong market share in a market that is likely to expand in the future C) Kindle Fire a children's ipad that has a high market share in a market that is not expected to grow significantly D) SpinDrive a car audio system that has a high market share in a market that has been growing constantly E) SoLo a CD player that has a very low market share in a market that is shrinking rapidly Answer: A 19) According to the BCG matrix, products or businesses with a low share of market in a highgrowth industry are considered.

A) increases the advertising budget for that strategic business unit B) invests more in the strategic business unit to build its market share C) increases short-term cash flow despite the long-term effect D) invests just enough in the strategic business unit to keep its market share at the current level E) gradually increases investment in the strategic business unit over time to maximize profits Answer: C 23) Which of the following companies is using a divesting strategy? A) Juggernaut Bikes acquires new businesses in order to increase its market share. A) divesting B) harvesting C) market segmentation D) diversification E) market saturation Answer: A 22) When a company chooses to harvest a particular strategic business unit, it. Answer: A 21) Selling or phasing out a product and using the resources elsewhere can be described as. E) Cash cows typically turn into stars.

Answer: C 67 24) A strategy for company growth that involves increasing sales to current market segments without changing the product is known as. E) Harlow's market share remains steady over two years, and the firm decides to maintain its share at the current level. D) Getix Computers increases the price of its products in order to maximize short-term profits. C) When sales of its clothing division decline, Blackstone sells the division to a competitor. Increases investments in advertising and promotion.

This effort by EcoBean management is most likely an example of. A) market development B) market differentiation C) market penetration D) product development E) diversification Answer: A 26) EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks.

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