Question 1

Which of the following is a useful tool for identifying growth opportunities?
A)	The BCG matrix
B)	The business portfolio
C)	The product/market expansion grid
D)	The value chain
E)	The value-delivery network

Accepted Answer

The answer of Which of the following is a useful...

Question 2

Armour offers an ever-increasing range of styles and colours in its original apparel lines.It also added direct-to-consumer distribution channels.This effort by Armour management is an example of ________.

Accepted Answer

The answer of Armour offers an ever-increasing range of styles...

Question 3

According to the Boston Consulting Group approach,________ are low-growth,high-share businesses or products.

Accepted Answer

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

Question 4

In the Boston Consulting Group (BCG)matrix,________ require less investment to hold their market share.

Accepted Answer

The answer of In the Boston Consulting Group (BCG)matrix,________ require...

Question 5

A common practice among marketers is to identify and develop new markets for their existing products.This practice is called ________.

Accepted Answer

The answer of A common practice among marketers is to...

Question 6

Disney is identifying and developing new markets for its theme parks.Disney is exploring possibilities for ________.

Accepted Answer

The answer of Disney is identifying and developing new markets...

Question 7

Making more sales to current customers without changing a firm's products is ________.

Accepted Answer

The answer of Making more sales to current customers without...

Question 8

Which of the following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?
A)	Market segmentation
B)	The BCG approach
C)	Product-line extension
D)	Downsizing
E)	Market redesign

Accepted Answer

Downsizing involves reducing the business portfolio by eliminating products, services, or business units that are not performing well or do not align with the company's strategic goals.

Question 9

Fence Patrol has developed an entirely new mounting system for chain link fences.Although it is a local company,through the acquisition of a distributor it now has the ability to market its products nationwide.Fence Patrol is most likely to be following a ________ strategy

Accepted Answer

The answer of Fence Patrol has developed an entirely new...

Question 10

The four possible strategies that can be pursued for each strategic business units (SBUs)are ________,________,harvesting,and divesting.

Accepted Answer

The answer of The four possible strategies that can be...

Question 11

Which of the following is the marketing logic by which a company hopes to achieve profitable customer relationships?
A)	Price
B)	A consistent product mix
C)	The value delivery network
D)	Marketing strategy
E)	Differentiation

Accepted Answer

Marketing strategy is the overall approach a company takes to identify customer needs, create value, and build profitable relationships. It encompasses understanding the target market, creating a value proposition, and delivering products or services in a way that satisfies customers better than competitors.

Question 12

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market.In order to increase market share,managers would be most likely to decide to do which of the following?
A)	Hold the pharmaceuticals division's share
B)	Implement a harvest strategy
C)	Use money from a cash cow to promote the pharmaceuticals division
D)	Divest the SBU
E)	Diversify the pharmaceutical division

Accepted Answer

Given that the pharmaceuticals division is in a high-growth market but has a low market share, investing in it to increase its market share is a strategic move. Using funds from a cash cow (a business unit with high market share in a low-growth market, generating steady cash flow) to promote the pharmaceuticals division can provide the necessary financial support to boost its growth and competitiveness. This aligns with the growth-share matrix strategy, suggesting investment in promising areas to turn them into leading market positions.

Question 13

If Under Armour were move into non-performance leisure wear or begin making and marketing Under Armour fitness equipment,this would represent which strategy for growth?
A)	Product development
B)	Market development
C)	Market penetration
D)	Diversification
E)	Partner development

Accepted Answer

Diversification is the strategy of entering into a new market or industry which the business is not currently in, whilst also creating a new product for that new market. Moving into non-performance leisure wear or beginning to make and market fitness equipment represents entering new markets with new products for Under Armour.

Question 14

Multinationals like Honda Motor Co.and Wal-Mart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality.This illustrates the importance of an efficient ________.

Accepted Answer

The answer of Multinationals like Honda Motor Co.and Wal-Mart stores...

Question 15

Which department in a company carries the primary responsibility for achieving profitable growth?
A)	Accounting
B)	Product development
C)	Operations
D)	Human resources
E)	Marketing

Accepted Answer

Marketing is primarily responsible for achieving profitable growth in a company. This department focuses on understanding customer needs, developing products or services that meet those demands, and effectively communicating and selling to the target market, thereby driving sales and growth.

Question 16

Walmart,the world's largest retailer,has successfully launched its stores in Mexico,Canada,the U.K.,and Germany,and other nations.This is an example of how Walmart is pursuing ________ as a growth strategy.

Accepted Answer

The answer of Walmart,the world's largest retailer,has successfully launched its...

Question 17

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets.Each business is called a ________.

Accepted Answer

The answer of Kimball Gardens is a company that operates...

Question 18

Unlike strategic-planning efforts of the past,which were conducted primarily by senior managers,today's strategic planning is ________.

Accepted Answer

The answer of Unlike strategic-planning efforts of the past,which were...

Question 19

Acme Inc.has slightly modified the production processes of its widgets and gadgets in order to tap into the Eastern European market.Acme is likely following a ________ strategy.

Accepted Answer

The answer of Acme Inc.has slightly modified the production processes...

Question 20

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

Accepted Answer

The answer of Each department in a company that carries...

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

Which of the following is a useful tool for identifying growth opportunities?

Armour offers an ever-increasing range of styles and colours in its original apparel lines.It also added direct-to-consumer distribution channels.This effort by Armour management is an example of ________.

According to the Boston Consulting Group approach,________ are low-growth,high-share businesses or products.

In the Boston Consulting Group (BCG)matrix,________ require less investment to hold their market share.

A common practice among marketers is to identify and develop new markets for their existing products.This practice is called ________.

Disney is identifying and developing new markets for its theme parks.Disney is exploring possibilities for ________.

Making more sales to current customers without changing a firm's products is ________.

Which of the following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?

Fence Patrol has developed an entirely new mounting system for chain link fences.Although it is a local company,through the acquisition of a distributor it now has the ability to market its products nationwide.Fence Patrol is most likely to be following a ________ strategy

The four possible strategies that can be pursued for each strategic business units (SBUs)are ,,harvesting,and divesting.

Which of the following is the marketing logic by which a company hopes to achieve profitable customer relationships?

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market.In order to increase market share,managers would be most likely to decide to do which of the following?

If Under Armour were move into non-performance leisure wear or begin making and marketing Under Armour fitness equipment,this would represent which strategy for growth?