Marketing Quiz Questions
Mission statement is...
a company's clear purpose
Most firms begin the strategic planning process by developing detailed marketing and departmental plans that support a company-wide plan?
False
A vision statement is purposeful, specifying what an organization wants to accomplish in the larger environment?
False
An SBU can be a company division or a product line within a division, but not a single product or brand.
False
An organization's vison statement should emphasize its intentions toward customers and the customer experience the organization seeks to create.
False
Which of the following statements is true in the context of the BCG growth-share matrix?
A) Stars often need heavy investment to finance their rapid growth in a market. B) The positions of SBUs in the growth-share matrix rarely change over time. C) The income from one SBU cannot be used to support other business units. D) Dogs promise to be large sources of cash.
Which of the following provides a measure of market attractiveness in the Boston Consulting Group approach?
A) relative market share (strength) B) market sentiment C) return on marketing investment D) market growth rate (attractiveness)
In the BCG matrix, ________ refer to low-growth, high-share businesses or products.
Cash Cows
_____________ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy.
Downsizing
__________ of the marketing mix refers to the goods-and-services combination a company offers to its target market.
Product
Which of the following statement is true
a. The mission statement reflects every facet of your business. B. The vison offers direction to employees of the company rather than customers. c. The mission indicates the nature of products and services. d. All of the above
According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________.
stars
1. The two dimensions the BCG approach uses to evaluate and manage SBUs are ________.
A) market growth rate and relative market share B) market growth rate and market penetration C) market growth rate and market development D) relative market share and product development
1. Managing the marketing function begins with a complete analysis of the company's situation. A thorough ________ guides decision making.
A) situation analysis B) internal assessment C) industry overview D) SWOT analysis
1. Business portfolio analysis is one of strategic planning activities and can be used by management to evaluate the products and businesses that make up the company.
True
A value delivery network 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.
True
Many SBUs start out as question marks and move into the star category if they succeed. They later become cash cows as market growth falls, and then finally die off or turn into dogs toward the end of the life cycle.
True
The marketing mix consists of everything a firm can do to influence the demand for its product. The many possibilities can be collected into four groups of variables—the four Ps.
True
Business portfolio refers to a collection of businesses and products that make up the company.
True
