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

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

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

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  1. This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment. annual plan marketing plan strategic plan operational plan Kotler / Armstrong, Chapter 2

  2. This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment. annual plan marketing plan strategic plan operational plan Kotler / Armstrong, Chapter 2

  3. A good mission statement should be realistic, be specific, fit the market environment, and motivate, among other things. true false Kotler / Armstrong, Chapter 2

  4. A good mission statement should be realistic, be specific, fit the market environment, and motivate, among other things. true false Kotler / Armstrong, Chapter 2

  5. The organization should base its mission statement on its _____. profitable goals customers’ welfare product’s value distinctive competencies Kotler / Armstrong, Chapter 2

  6. The organization should base its mission statement on its _____. profitable goals customers’ welfare product’s value distinctive competencies Kotler / Armstrong, Chapter 2

  7. Strategic business units (SBUs) are classified as stars, cash cows, cats, or dogs. true false Kotler / Armstrong, Chapter 2

  8. Strategic business units (SBUs) are classified as stars, cash cows, cats, or dogs. true false Kotler / Armstrong, Chapter 2

  9. _____ are low-growth, high-share businesses or products. Question marks Cash cows Dogs Stars Kotler / Armstrong, Chapter 2

  10. _____ are low-growth, high-share businesses or products. Question marks Cash cows Dogs Stars Kotler / Armstrong, Chapter 2

  11. All of the following are components of the product/market expansion grid except _____. market penetration market development unification product development Kotler / Armstrong, Chapter 2

  12. All of the following are components of the product/market expansion grid except _____. market penetration market development unification product development Kotler / Armstrong, Chapter 2

  13. Which of the following are limitations to the Boston Consulting Group (BCG) method of strategic planning? difficult to implement costly provides little advice for the future all of the above Kotler / Armstrong, Chapter 2

  14. Which of the following are limitations to the Boston Consulting Group (BCG) method of strategic planning? difficult to implement costly provides little advice for the future all of the above Kotler / Armstrong, Chapter 2

  15. The series of departments that add value-creating activities to the design, product/service, and market and support a company’s product(s) is called _____. 1. marketing mix 2. positioning 3. value chain 4. SWOT Kotler / Armstrong, Chapter 2

  16. The series of departments that add value-creating activities to the design, product/service, and market and support a company’s product(s) is called _____. 1. marketing mix 2. positioning 3. value chain 4. SWOT Kotler / Armstrong, Chapter 2

  17. Which of the following is an example of market penetration for Starbucks? adding drive-thru windows to their current coffee shops adding new stores in the Southeast adding hot breakfast items to the menu buying Hear Music Kotler / Armstrong, Chapter 2

  18. Which of the following is an example of marketpenetration for Starbucks? adding drive-thru windows to their current coffee shops adding new stores in the Southeast (market development) adding hot breakfast items to the menu (product development) buying Hear Music (diversification) Kotler / Armstrong, Chapter 2

  19. The network comprised of the company, venders, distributors, and customers who “partner” with each other to improve the performance of the entire system is called ______. value-delivery network positioning market concept market penetration Kotler / Armstrong, Chapter 2

  20. The network comprised of the company, venders, distributors, and customers who “partner” with each other to improve the performance of the entire system is called ______. value-delivery network positioning market concept market penetration Kotler / Armstrong, Chapter 2

  21. Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs is called ______. market segmentation target marketing differentiation positioning Kotler / Armstrong, Chapter 2

  22. Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs is called ______. market segmentation target marketing differentiation positioning Kotler / Armstrong, Chapter 2

  23. Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________. 1. segmentation 2. target marketing 3. differentiation 4. positioning Kotler / Armstrong, Chapter 2

  24. Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________. 1. segmentation 2. target marketing 3. differentiation 4. positioning Kotler / Armstrong, Chapter 2

  25. All of the following are elements of the marketing mix except _____. product price profit promotion Kotler / Armstrong, Chapter 2

  26. All of the following are elements of the marketing mix except _____. product price profit promotion Kotler / Armstrong, Chapter 2

  27. Once the various market segments have been determined, the next step in the marketing strategy process is _____. market evaluation target marketing product positioning market penetration Kotler / Armstrong, Chapter 2

  28. Once the various market segments have been determined, the next step in the marketing strategy process is _____. market evaluation target marketing product positioning market penetration Kotler / Armstrong, Chapter 2

  29. Which of the following is not one of the four areas of SWOT analysis? strengths outsourcing weaknesses threats Kotler / Armstrong, Chapter 2

  30. Which of the following is not one of the four areas of SWOT analysis? strengths outsourcing weaknesses threats Kotler / Armstrong, Chapter 2

  31. 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. true false Kotler / Armstrong, Chapter 2

  32. 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. true false (positioning statement) Kotler / Armstrong, Chapter 2

  33. 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 _____. marketing arsenal marketing mix marketing position independent marketing options Kotler / Armstrong, Chapter 2

  34. 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 _____. marketing arsenal marketing mix marketing position independent marketing options Kotler / Armstrong, Chapter 2

  35. The process of evaluating your marketing strategy and taking corrective action to ensure those objectives are reached is called marketing control. true false Kotler / Armstrong, Chapter 2

  36. The process of evaluating your marketing strategy and taking corrective action to ensure those objectives are reached is called marketing control. true false Kotler / Armstrong, Chapter 2

  37. The following four steps—defining the company’s mission, setting objectives, designing a portfolio, and developing plans— is called _____. strategic planning positioning market penetration differentiation Kotler / Armstrong, Chapter 2

  38. The following four steps—defining the company’s mission, setting objectives, designing a portfolio, and developing plans— is called _____. strategic planning positioning market penetration differentiation Kotler / Armstrong, Chapter 2

  39. Managers are correct in thinking that “doing things right” (implementation) is more important than “doing the right things” (strategy). true false Kotler / Armstrong, Chapter 2

  40. Managers are correct in thinking that “doing things right” (implementation) is more important than “doing the right things” (strategy). true false (both are critical to success) Kotler / Armstrong, Chapter 2

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