Marketing exam 2

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

segmentation

Which of the following will most likely be included in the "price" component of a company's marketing mix?

discounts

In a SWOT analysis, which of the following would be considered a weakness of a company?

obsolete technologies used by company

When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix.

promotion

Which of the following is true of strategic planning in a firm?

It deals with adapting the firm to take advantage of changing marketing opportunities.

Business portfolio analysis is defined as the process in which management _____.

Assesses the attractiveness of an SBU's market and the strength of its position in the marketing

In the BCG matrix,_____ refer to low-growth, high-share businesses or products.

Cash cow

Is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

Demography

In the BCG growth-share matrix, question marks refer to products or businesses with a ______.

Low market share in a market high growth prospects.

A firm's decision to identify and develop new markets for existing products is a_______ strategy.

Market Development

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

Market Divesting

Which of the following criteria provides a measure of market attractiveness in the Boston Consulting Group approach?

Market grew and rate

The two dimensions the BCG approach use to evaluate and manage SBUs are

Market growth rates and relative market share.

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ____.

Market penetration

Evaluation the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called_______.

Marketing Control

Which of the following is true of marketing ROI?

Marketing ROI measures the profits generated by investments in marking activities.

A_____is purposeful, specifying what an organization wants to accomplish in the larger environment.

Mission Statement

Which component of the marketing mix refers to the goods-and-services combination a company offers to its target market?

Product

Under Armour's decision to add athletic shoes to it appealing in 2006 is a example of a _______strategy.

Product development

Managing the market function begins with a complete analysis of the company's situation. A thorough_______ is typically undertaken guide decision making?

SWOT analysis

Both market penetration strategies and market development strategies primarily involves_______.

Selling in new as well as existing markets

According to the BCG matrix, products or businesses with high market shares in a high growth market are classified as

Stars

Which of the following best describes a company's business portfolio?

The collection of businesses and products that make up the company

Which of the following is part of the microenvironment of a firm's marketing environment?

The suppliers who work with the company

In a SWOT analysis,_________ refer to unfavorable external factors or trends that may present challenges to performance.

Threats

The Product-market expansion grid, like BCG matrix, is used to identify growth opportunities

True

A_______ is made up of a company, its suppliers, its distributors, and customer who partner with each other to improve the performance of the entire system.

Value delivery network

Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix?

Xpress- an MP3 player that has a high market share in a market that is not expected to grow significantly.

In a SWOT analysis, which of the following would most likely be considered a strength of a company?

an improvement in the company's production technology

Which of the following best describes product positioning?

arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Demographic, economic, natural, technological, political, and cultural forces from the _______ of an organization.

macroenvironment

in the market mix, product includes the goods and services the company offers to the target market, while promotion includes advertising.

true

In a SWOT analysis,_______refer to favorable factors or trends in the external environment that a company may be able to exploit to its advantage.

opportunities