mktg 2

________ refers to activities that communicate the merits of the product and persuade target customers to buy it.

Promotion

Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?

SWOT analysis

Which of the following is true with regard to strategic planning?

The focus of strategic planning is to define a game plan for long-run survival and growth.

Mission statements should ________ and be defined in terms of ________.

be market oriented; satisfying basic customer needs

Within a company, who is most likely to perform strategic planning?

cross-functional teams of divisional managers close to their markets

Berman Electronics, a chain of appliance stores in North America, caters to a wide range of customers. It has a marketing organization in which different operational specialists head different marketing activities. Berman Electronics is a(n) ________.

customer management organization

Market segmentation can be best described as the process of ________.

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

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

market development

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

market nicher

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

position

Sunny Brews is a coffeehouse chain based in Boston. It recently introduced Eva, a mild roast, which became immensely popular. This exemplifies ________.

product development

Companies that define their missions in terms of products or technologies are considered myopic primarily because ________.

products and technologies eventually become outdated

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.

question mark