a good mission statement should be all of the following except _____. market oriented

Kotler / Armstrong 11e, Chapter 2

This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment.

1. annual plan

2. marketing plan

3. strategic plan

4. long-range plan

This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment.

1. annual plan

2. marketing plan

3. strategic plan

4. long-range plan

A good mission statement should be all of the following except _____.

1. market oriented

2. product oriented

3. realistic

4. motivating

A good mission statement should be all of the following except _____.

1. market oriented

2. product oriented

3. realistic

4. motivating

The organization should base its mission statement on its _____.

1. profitable goals

2. customers’ welfare

3. product’s value

4. distinctive competencies

The organization should base its mission statement on its _____.

1. profitable goals

2. customers’ welfare

3. product’s value

4. distinctive competencies

Business portfolio management involves two steps. Step 1 requires the business to analyze its current business portfolio. Step 2 requires it to shape its future portfolio.

1. True

2. False

Business portfolio management involves two steps. Step 1 requires the business to analyze its current business portfolio. Step 2 requires it to shape its future portfolio.

1. True

2. False

_____ are low-growth, high-share businesses or products.

1. Question marks

2. Cash cows

3. Dogs

4. Stars

_____ are low-growth, high-share businesses or products.

1. Question marks

2. Cash cows

3. Dogs

4. Stars

_____ are high-growth, high-share businesses or products.

1. Question marks

2. Cash cows

3. Dogs

4. Stars

_____ are high-growth, high-share businesses or products.

1. Question marks

2. Cash cows

3. Dogs

4. Stars

Which of the following are limitations to the BCG method of strategic planning?

1. difficult to implement

2. costly

3. provide little advice for the future

4. all of the above

Which of the following are limitations to the BCG method of strategic planning?

1. difficult to implement

2. costly

3. provide little advice for the future

4. all of the above

_____ has the main responsibility for achieving profitable growth for a company.

1. Management

2. Human resources

3. Marketing

4. All of the above

_____ has the main responsibility for achieving profitable growth for a company.

1. Management

2. Human resources

3. Marketing

4. All of the above

Which of the following is an example of market penetration for Starbucks?

1. adding drive-thru windows to their current coffee shops

2. adding new stores in the Southeast

3. adding hot breakfast items to the menu

4. buying Hear Music

Which of the following is an example of market penetration for Starbucks? 1. adding drive-thru windows to their current

coffee shops2. adding new stores in the Southeast

(market development)3. adding hot breakfast items to the menu

(product development)4. buying Hear Music (diversification)

Downsizing is reducing the business portfolio by eliminating products or business units that are not profitable or no longer fit the company’s overall image.

1. True

2. False

Downsizing is reducing the business portfolio by eliminating products or business units that are not profitable or no longer fit the company’s overall image.

1. True

2. False

The _____ takes the customer’s point of view.

1. Human Resource Dept.

2. Management Dept.

3. Information Technology Dept.

4. Marketing Dept.

The _____ takes the customer’s point of view.

1. Human Resource Dept.

2. Management Dept.

3. Information Technology Dept.

4. Marketing Dept.

_____ should be at the center of a company’s marketing strategy.

1. Customers

2. Profits

3. Products

4. Employees

_____ should be at the center of a company’s marketing strategy.

1. Customers

2. Profits

3. Products

4. Employees

_____ involves dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behaviors and who might require separate products or marketing mixes.

1. Market definition2. Target marketing3. Product positioning4. Market segmentation

_____ involves dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behaviors and who might require separate products or marketing mixes.

1. Market definition2. Target marketing3. Product positioning4. Market segmentation

Once the various market segments have been determined, the next step in the marketing strategy process is _____.

1. market evaluation

2. target marketing

3. product positioning

4. market penetration

Once the various market segments have been determined, the next step in the marketing strategy process is _____.

1. market evaluation

2. target marketing

3. product positioning

4. market penetration

A company should target segments in which it can profitably generate the greatest customer value and sustain it over time.

1. True

2. False

A company should target segments in which it can profitably generate the greatest customer value and sustain it over time.

1. True

2. False

The purpose of a product’s image statement is to present the product in a clear, distinct and desirable way relative to competing products in the minds of target consumers.

1. True

2. False

The purpose of a product’s image statement is to present the product in a clear, distinct and desirable way relative to competing products in the minds of target consumers.

1. True

2. False (positioning statement)

The set of controllable, tactical marketing tools that the firm blends together to produce its response to the wants of its target market are called its _____.

1. marketing arsenal

2. marketing mix

3. marketing portfolio

4. integrated marketing options (IMOs)

The set of controllable, tactical marketing tools that the firm blends together to produce its response to the wants of its target market are called its _____.

1. marketing arsenal

2. marketing mix

3. marketing portfolio

4. integrated marketing options (IMOs)

The four P’s in marketing refer to_____, _____, _____ and _____.

1. product; place; price; promotion

2. product; property; price; promotion

3. production; property; people; promotion

4. product; place; promotion; people

The four P’s in marketing refer to_____, _____, _____ and _____.

1. product; place; price; promotion

2. product; property; price; promotion

3. production; property; people; promotion

4. product; place; promotion; people

Which of the “P’s” listed below relates to a customer’s cost?

1. product

2. place

3. price

4. promotion

Which of the “P’s” listed below relates to a customer’s cost?

1. product

2. place

3. price

4. promotion

Managers are correct in thinking that, “doing things right” (implementation) is more important than, “doing the right things” (strategy).

1. True

2. False

Managers are correct in thinking that, “doing things right” (implementation) is more important than, “doing the right things” (strategy).

1. True

2. False (both are critical to success)

a good mission statement should be all of the following except _____. market oriented

Documents

current business portfolio

business units

profitable growth

management dept

future portfolio

profitable goalscustomers

marketing dept

human resource dept