Marketing Strategies Exam 1

Strategy is a functional pattern of:

All of the above

3 multiple choice options

The components of strategy are:

All of the Above

3 multiple choice options

Disney operates in several industries, including movies, theme parks, streaming services, cruises, and consumer products. Which component of strategy does this describe?

Scope

Disney plans to increase Disney+ subscribers by 15% in one year, increasing theme park revenue by 10%, expanding internationally, improving customer satisfaction, and strengthening the Disney brand across entertainment and tourism markets. Which component of strategy does this describe?

Goals and objectives

The strategies of Disney Parks and the Disney Movies are the examples of:

Business strategy

Ethic is concerned with the development of moral standards by which actions and situations can be judged. Particular actions may be legal but not ethical. Thus, ethics is more proactive than the law.

True

Components of a corporate objective include:

All of the above

3 multiple choice options

What are two directions that firms can go for future growth?

Expanding current business and diversifying into new businesses

The strategic plan of Degussa, the large German specialty chemicals manufacturer, calls for greatly increased resources and marketing efforts to be directed toward China over the next few years. Which one is Degussa's growth strategy?

New markets + Current products

When allocating corporate resources, which analytical tool could be used in making decisions?

All of the above

3 multiple choice options

Which of the following strategy components address issues such as the time frame in which each target should be attained and the target level of performance to be achieved on each dimension?

Objectives

1. A corporate growth strategy that focuses on developing new products for current markets is called:

A product development strategy

Cash Cows are:

Businesses with a high relative share of low-growth markets

What is the expansion for the acronym SMART used in specifying corporate objectives?

Specific, Measurable, Attainable, Relevant, and Time-bound

In expressing corporate objectives aimed at enhancing shareholder value, a firm combining its debt and market value of its stock, and then subtracting the capital invested in the company, is using the _____ approach.

Economic value added

What are the characteristic of SBUs

All of the above

3 multiple choice options

No two SBUs within a firm compete for the same customers with similar products. Which SBU characteristic is being emphasized here?

A unique set of product-markets

A business pursuing a prospector strategy:

Operates within a broad product-market domain that undergoes periodic redefinition

Which of the following statements is true of a reactor strategy?

It lacks any well-defined competitive strategy

A(n) ____ is defined as being composed of individuals and organizations who are interested in and willing to buy a good or service to obtain benefits that will satisfy a particular need.

Market

Marketing services have been made easy by advertisements on the web or via e-mail, social networks, and online stores. Which macroenvironmental trend does this signify?

Technological environment

The bargaining power of suppliers increases:

If the suppliers can realistically threaten forward integration

Which of the following increases a buyer's bargaining power?

Low buyer profitability

Opportunities are attractive at the micro level on the market side when:

The company has other segments for which the currently targeted segment may provide a springboard

In a ____ approach, a central person or persons take the responsibility for forecasting and prepare an overall sales forecast

Top-down

Which of the following approaches is used to prepare a sales forecast in decentralized firms?

a bottom-up approach

Which of the following is true of a statistical forecasting method?

It generally assumes that the future will look very much like the past

Which of the following characteristics is true of adopter groups?

Late majority adopt a new product for either economic or social reasons

RobustTires is an established tire manufacturer in Topeka. Every major brand of cars uses its tires. It plans to open a branch in Buffalo City for which it intends to use time series analysis to forecast sales and the market potential. Which of the following methods is exemplified by RobustTires?

Statistical method

____ is the process by which a market is divided into distinct subsets of customers with similar needs and characteristics that lead them to respond in similar ways to a particular product offering and marketing program.

Marketing segmentation

Which of the following best describes a niche strategy?

A company focuses on a smaller but profitable segment with specialized needs.

What is the first step in constructing a market attractiveness/competitive position matrix for evaluating potential target markets?

Selecting market attractiveness and competitive position factors

____ divides the market according to the characteristics of the buying organization using attributes such as age of firm, firm size, and industry affiliation.

Macrosegmenation

Which of the following statements is true of behavioral segmentation?

It identifies new markets even among homogeneous demographic groups when segmented by lifestyle.