MGM301 Chapter#2 Quiz

A ________ documents an organization's purpose—what it wants to accomplish in the larger environment. A: Mission statement B: Vision Statement C: Business portfolio D: Value proposition E: Product strategy

A: Mission Statement

________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities. A: Strategic planning B: Diversification C: SWOT analysis D: Benchmarking

A: Strategic planning

A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review. A: executive summary B: action program C: opportunity analysis D: budget E: threat analysis

A: executive summary

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance. A: Field automation system B: Marketing dashboards C: Market segment D: Market share E: Line extension

B: Marketing dashboards

The collection of businesses and product that make up a company is called its____ A: Strategic plan B: Internal value chain C: Businesses portfolio D: Strategic Business Unit E: Supply Chain

C: Businesses portfolio

According to the Boston Consulting Group approach, ________ provides a measure of market attractiveness. A: Market penetration B: Product design C: Product attribute D: Market growth rate E: Market segmentation

D: Market growth rate

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________. A: Downsizing B: Diversification C: Prospecting D: marketing targeting E: market segmentation

D: marketing targeting

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________. A:Value Chain B: downsizing C: marketing implementation D: Price E: Market strategy

E: Market strategy

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________. A: Prospecting B: Diversifying C: Segmenting D: Satisfying E: Positioning

E: Positioning

Market segmentation can be best described as the process of ________. A: assigning specific human attributes to a given brand B: turning marketing plans into marketing actions to accomplish strategic marketing objectives C: maintaining a strategic fit between organizational goals and changing marketing opportunities 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, and who might require separate products or marketing programs

E: dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs