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Chapter 2 : Strategic Planning and the Marketing Process
Multiple Choice

Results Reporter
Summary: 100% Correct
100%
0%
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Of 10 questions, you answered:
10 correct
0 incorrect
0 unanswered

Submitted on 16 Sep 2005 00:42:28 EDT

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1. Correct A _____ is a statement of the organization's purpose.
Your answer: mission statement

CORRECT. The mission statement define's the firm's purpose.

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2. Correct A mission statement should be all of the following except:
Your answer: advertising

CORRECT. The mission statement should be specific, realistic, and motivating, but not an ad.

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3. Correct The key businesses making up a company are called _____.
Your answer: strategic business units

CORRECT. These entities are called strategic business units.

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4. Correct High share, high growth businesses, according to the Boston Consulting Group, are called _____.
Your answer: stars

CORRECT. This describes Stars.

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5. Correct _____ produce a lot of funds that a business uses to pay its bills and support other business areas that need investment.
Your answer: cash cows

CORRECT. This describes cash cows.

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6. Correct The General Electric strategic business planning grid examines both _____ and _____.
Your answer: industry attractiveness; business strength

CORRECT. Attractivesness and strength are the elements of the GE grid.

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7. Correct A strategy of _____ relies on selling existing products to new customers.
Your answer: market development

CORRECT. This describes market development.

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8. Correct A stategy of _____ relies on selling new products in existing markets.
Your answer: product development

CORRECT. This describes product development.

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9. Correct The proces of dividing a market into smaller groups of people who respond in a similar way to marketing efforts is called _____.
Your answer: market segmentation

CORRECT. Persons who respond similarly to a marketing stimulus constitute a market segment.

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10. Correct _____ involves evaluating different customer groups for their market attractiveness, and selecting one or more of these groups to pursue.
Your answer: Market targeting

CORRECT. Selecting one or more group(s) of customers is market targeting.

Chapter 1 : Marketing in a Changing World: Creating Customer Value and Satisfaction
Essay Questions

Summary: 2 answered out of 2
0 unanswered questions
Submitted on 09 Sep 2005 02:17:51 EDT

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1. What is the purpose of Marketing?
Your answer: Marketing can be defined as a social and managerial process whereby individuals and groups obtain what they need and want through creating and exhcnaging products and value with others. Its purpose is to satisfy customer needs.

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2. Of what value is Marketing to a society?
Your answer: Marketing should deliver superior value to customers in a way that maintains or improves the consumer's and the society's well being.