Marketing Chapter 3

It is important to remember that a marketing plan should be able to change as customers change, of there is a change in the external environment. in other words, a marketing plan should be _________ to be successful.

Flexible

Fun Time Corp. has decided to move production of its board games for children and adults from the United States to Mexico to realize cost savings. At the same time, the company has decided to make Spanish-language versions of the games and distribute them in Central and South America. Most likely Fun Time is pursuing a strategy of ________.

growth/concentration based on horizontal integration

The choice of generic strategy is usually driven by ___________ capabilities of the firm, as well as the ___________.

resource; competitive landscape

Value may be defined as the want-satisfying power of a good or service.

FALSE

When consumers order a newspaper subscription, they want the paper delivered early in the morning so that they can read it before setting out for the day. it appears that newspaper publishers are offering form, time, and place utility, but not ownership utility.

FALSE

Jeffie completed his mission statement for his marketing plan and has written down company goals; now he is focusing on his business's ________, or how he will be able to attain these goals in specific, measurable ways.

Objectives

According to the BCG matrix, a business that is classified as a cash cow has high market share and low growth.

TRUE

Brad's company is in the process of determining the best way to get enough wood to build the furniture that they need to manufacture. This represents the value-creating activity of inbound logistics.

TRUE

The GE Business Screen portfolio analysis uses three levels- high, medium, and low- to rank business position and market attractiveness.

TRUE

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ___________ section of the SWOT analysis.

Threats