Question 1

The position of a strategic business unit in the growth-share matrix typically remains constant over time.

Accepted Answer

The position of a strategic business unit in the growth-share matrix is not static and can change over time as market conditions and competitive pressures evolve. SBU's may move from one quadrant to another depending on changes in market share and growth rate of the industry.

Question 2

Which of the following groups is included in both a company's value chain and its value delivery network?
A) customers
B) suppliers
C) employees
D) distributors
E) competitors

Accepted Answer

The answer of Which of the following groups is included...

Question 3

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

Accepted Answer

The internal value chain refers to the series of processes within a company that work together to deliver products and services to customers efficiently and effectively, ensuring quality and customer satisfaction.

Question 4

According to the Boston Consulting Group approach, how can a company classify its SBUs on a growth-share matrix?

Accepted Answer

The answer of According to the Boston Consulting Group approach,...

Question 5

Differentiate between the BCG matrix and the product/market expansion grid.

Accepted Answer

The answer of Differentiate between the BCG matrix and the...

Question 6

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

Accepted Answer

The product-market expansion grid, also known as the Ansoff Matrix, is indeed used to identify growth opportunities by exploring options for new products and new markets.

Question 7

A firm's marketing department must partner with other company departments to produce superior value for customers.

Accepted Answer

Marketing cannot create superior value for customers on their own. They need to work with other departments such as sales, operations, and customer service to understand customer needs and deliver products or services that meet those needs. Collaboration across departments allows for a holistic approach to creating customer value.

Question 8

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

Accepted Answer

The answer of Should a company use the BCG matrix...

Question 9

Ferrari sells only 2,200 of its very high-performance cars in North America each year at very high prices. The company is appealing to a specific ________.
A) value chain
B) market segment
C) financial public
D) business portfolio
E) market position

Accepted Answer

Ferrari's strategy targets a specific market segment - namely, customers who are willing to pay a premium price for high-performance luxury cars. This approach allows the company to differentiate itself from competitors and command premium prices.

Question 10

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

Accepted Answer

The value chain of a company refers to the series of departments that design, produce, market, deliver, and support the company's products. This includes all the activities involved in bringing a product or service from conception to market and post-sale support.

Answer: E
 While D is also a good option, the more complete answer is E, which highlights that the value chain includes the entire network made up of the company, its suppliers, and its distributors working together to deliver customer value. This perspective acknowledges the importance of collaboration and coordination between different actors in the value creation process.

Question 11

Explain the term "value delivery network."

Accepted Answer

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

Question 12

Which of the following best describes product positioning?
A) differentiating a market offering to create superior customer value
B) arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
C) identifying consumer needs and creating a product to meet those needs
D) evaluating each market segment's attractiveness and selecting one or more segments to enter
E) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

Accepted Answer

Product positioning involves arranging a product to occupy a distinct and desirable place in the minds of target consumers relative to competing products. This helps to differentiate the product and create a competitive advantage.

Question 13

A company's customer value delivery network does not include members external to the organization.

Accepted Answer

A company's customer value delivery network includes not only internal members but also external members such as suppliers, distributors, and even customers themselves. These external members play a crucial role in delivering value to the end customer.

Question 14

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

Accepted Answer

A value delivery network is a system that consists of a company's suppliers, distributors, and customers partnering with each other to improve the performance of the entire system. It is focused on delivering value to customers in the most efficient and effective way possible. The other options, such as the value chain and growth-share matrix, only focus on internal operations or strategic planning and do not encompass the entire network of partners involved in delivering value to customers.

Question 15

Many SBUs start out as stars and move into the question mark category if they succeed.

Accepted Answer

Many SBUs start out as question marks and move into the star category if they succeed, not the other way around.

Question 16

Explain how a company's value chain works. Provide an example to illustrate your response.

Accepted Answer

The answer of Explain how a company's value chain works....

Question 17

What is a business portfolio? How does a company typically conduct a portfolio analysis?

Accepted Answer

The answer of What is a business portfolio? How does...

Question 18

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________.
A) development
B) positioning
C) diversification
D) segmentation
E) penetration

Accepted Answer

Traxx has engaged in market segmentation by dividing its market into three distinct categories based on their specific needs, traits, and marketing goals. This allows Traxx to tailor its marketing efforts and product offerings to each segment, ultimately increasing its chances of capturing a larger share of the market.

Question 19

Many companies have dropped formal strategic planning models like the BCG because they can be difficult, time consuming, and costly to implement.

Accepted Answer

Many companies have shifted away from formal strategic planning models like the BCG due to the challenges associated with implementing them.

Question 20

________ 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

Accepted Answer

Market targeting refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter. This involves identifying and analyzing various segments based on factors such as size, growth potential, profitability, competition, and compatibility with the organization's resources and capabilities. Once these factors are evaluated, the organization can decide which segments to target and develop marketing strategies to meet the needs of those segments.

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

The position of a strategic business unit in the growth-share matrix typically remains constant over time.

Which of the following groups is included in both a company's value chain and its value delivery network?

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.

According to the Boston Consulting Group approach, how can a company classify its SBUs on a growth-share matrix?

Differentiate between the BCG matrix and the product/market expansion grid.

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

A firm's marketing department must partner with other company departments to produce superior value for customers.

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

Ferrari sells only 2,200 of its very high-performance cars in North America each year at very high prices. The company is appealing to a specific ________.

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

Explain the term "value delivery network."

Which of the following best describes product positioning?

A company's customer value delivery network does not include members external to the organization.

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.

Many SBUs start out as stars and move into the question mark category if they succeed.

Explain how a company's value chain works. Provide an example to illustrate your response.

What is a business portfolio? How does a company typically conduct a portfolio analysis?

Many companies have dropped formal strategic planning models like the BCG because they can be difficult, time consuming, and costly to implement.

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