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Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

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Question 21

True/False

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The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.

A) True
B) False

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Question 22

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The four possible strategies that can be pursued for each SBU are building,holding,_ ,and .

A) promoting;selling
B) diversifying;penetrating
C) downsizing;expanding
D) developing;growing
E) harvesting;divesting

F) A) and E)
G) C) and D)

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Question 23

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Favorite Memories specializes in serving gift shoppers that major competitors overlook and ignore.Which of the following best describes Favorite Memories?

Which of the following is the principle objective of a market- oriented mission statement?

In SWOT analysis,which of the following refers to factors in the external environment?

According to the textbook,your boss is most likely referring to when she mentions "doing things right."

In the four Ps of the marketing mix,design,packaging,services,and variety all fall under the category of _.

The current mission statement of the Girl Scouts of America is to build "girls of courage,confidence,and character,who make the world a better place." The organization's former mission statement had read "to prepare young girls for motherhood and wifely duties." This change reflects the guideline that mission statements should be _ .

are low- growth,high share businesses or products.They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.

How are partner relationship management and the value chain related?

Which of the following is the most common approach to marketing organization?

Refer to the scenario below to answer the following questions. Fun- Spot Fun Park began as a small amusement park in 1985.With nothing more than a merry- go- round,a slide,pony rides,and an ice cream stand,Fun- Spot grew into a popular family attraction with 20 rides,a restaurant,and an outdoor performing arts theater. "My wife,Gail,and I didn't know what we were getting into," commented Ron Hart,the owner."We just knew that weekenders coming to the lakes in our rural area represented an untapped market." Today,thousands of visitors flock to Fun- Spot: families,children of all ages,and even senior citizens who enjoy strolling through the gardens and arbor. "There's something here for everyone," Gail Hart said with a smile."Dozens of companies hold annual company picnics here.We have welcomed class field trips.And we even had one wedding here at the park!" "Here's the funny thing," Ron chimed in."We really don't know why we've been so successful.There is nothing else like Fun- Spot Fun Park in the area.We were just lucky." "I think it's the ambience of the park that has brought so many visitors," Gail added."We provide a 'total package' of entertainment.Plus,we try to change our rides and various attractions from time to time for variety" Ron and Gail Hart admitted that making every visitor happy is a priority."That has always been our philosophy," they said."Like it says on the entrance to the park,'We're here to make you happy!' And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly." -Fun- Spot's mission is .

Unlike strategic- planning efforts of the past,which were conducted primarily by senior managers,today's strategic planning is .

Into what quadrant of the product/market expansion grid would a "new and improved" product fall?

"At Joe's Diner,we serve great burgers" is a product- oriented business definition.

Which of the following involves looking at whether a company's basic strategies are well matched to its opportunities?

How might Party Planning Paradise,a company that sells a wide range of party supplies for all occasions,implement a market development strategy?

When a company positions its product,it should first identify possible customer value differences within a market segment that could be the basis of a competitive advantage for the product.

In the marketing management functions,a SWOT analysis should a marketing plan.

Which of the four Ps describes the goods- and- services combination the company offers to the target market?