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Both product development strategies and diversification strategies involve ________.


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

F) A) and E)
G) A) and D)

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

A) True
B) False

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The growth rate of a strategic business unit that is classified as a star remains constant over time.

A) True
B) False

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Which of the following best describes a company's business portfolio?


A) the list of all the marketing activities in which the company invests
B) the target segments of the company's various businesses
C) the company's products or services in a particular market
D) the collection of businesses and products that make up the company
E) the company's strengths in terms of technology, people, and products

F) All of the above
G) A) and E)

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Should a company use the BCG matrix to classify its products or brands? Give reasons for your answer.

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(Students' answers may vary.The answer g...

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


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

F) C) and E)
G) A) and C)

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


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

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

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Which of the following will most likely be included in the "place" component of a company's marketing mix?


A) packaging
B) sales promotion
C) brand name
D) inventory
E) discounts

F) B) and E)
G) All of the above

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In a SWOT analysis,strengths and weaknesses refer to a firm's external environment,while opportunities and threats refer to the internal environment.

A) True
B) False

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A company can offer greater customer value by either charging lower prices than competitors or offering more benefits to justify higher prices.

A) True
B) False

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ToyTrain is a toy company that sells its products in most regions of the United States.It produces a variety of toys for children of every age group,from toddlers to preteens.What are ToyTrain's options for organizing its marketing department? Briefly describe each structure as it would apply to Toy Train.Which organization do you think would be best for ToyTrain? Why?

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(Students' answers may vary.The answer given below is indicative.) Modern marketing departments can be arranged in several ways.The most common form of marketing organization is the functional organization. Under a functional organization,different marketing activities are headed by a functional specialist-a sales manager,an advertising manager,a marketing research manager,a customer-service manager,or a new product manager.As ToyTrain is based only in the United States,a functional organization may be appropriate if marketing strategies and messages need to be consistent across the region.Under a geographic organization,sales and marketing people are assigned to specific countries,regions,and districts.A company that sells across a country could benefit from a geographic organization.As ToyTrain sells products across the country,organizing its sales and marketing personnel by region may also be appropriate. Under a product management organization,a product manager develops and implements a complete strategy and marketing program for a specific product or brand.Unless the company has a few standout brands,this system will not benefit it as much as other methods. Under a market or customer management organization,the company is organized around the needs of specific customer segments.In firms that use this organization,one product line is sold to many different types of markets and customers that have different needs and preferences.ToyTrain could use this method and organize its departments according to the age groups of the children it caters to and the types of toys suitable for each group. The company could also use some combination of these organizational forms.

Define marketing planning.Briefly outline what a company should cover in its marketing plan.

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Marketing planning involves deciding on ...

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According to the text,an organization's mission statement should emphasize its intentions toward customers and the customer experience the organization seeks to create.

A) True
B) False

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True

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called ________.


A) marketing control
B) marketing implementation
C) market planning
D) marketing development
E) market targeting

F) B) and E)
G) None of the above

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Which of the following best describes the value chain of a company?


A) the collection of businesses and products that make up the company
B) profits earned by the cash cows and stars in the company's business portfolio
C) touchpoints at which a company or brand interacts with its consumers
D) the series of departments that design, produce, market, deliver, and support the company's products
E) a network made up of the company, its suppliers, and its distributors working together to deliver customer value

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

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"At Dodson,we sell shoes" is a market-oriented business definition.

A) True
B) False

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False

An SBU can be a company division or a product line within a division,but not a single product or brand.

A) True
B) False

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In a SWOT analysis,________ refer to unfavorable external factors or trends that may present challenges to performance.


A) threats
B) strategies
C) weaknesses
D) opportunities
E) strengths

F) A) and B)
G) None of the above

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A tool for identifying growth opportunities is the product/market expansion grid.

A) True
B) False

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Which of the following companies is using a divesting strategy?


A) Juggernaut Bikes acquires new businesses in order to increase its market share.
B) To achieve a higher market share, LBD Inc. increases investments in advertising and promotion.
C) When sales of its clothing division decline, Blackstone sells the division to a competitor.
D) Getix Computers increases the price of its products in order to maximize short-term profits.
E) Harlow's market share remains steady over two years, and the firm decides to maintain its share at the current level.

F) A) and B)
G) A) and D)

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