Elements Of Marketing Strategy, Planning, And Competition

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Marketing in Today's Business Milieu
Marketing Foundations: Global, Ethical, Sustainable
Elements of Marketing Strategy, Planning, and Competition
Market Research Essentials
CRM, Big Data, and Marketing Analytics
Understand Consumer and Business Markets
Segmentation, Target Marketing, and Positioning
Product Strategy and New Product Development
Build the Brand
Service as the Core Offering
Manage Pricing Decisions
Manage Marketing Channels, Logistics, and Supply Chain
Promotion Essentials: Digital and Social Media Marketing
Promotion Essentials: Legacy Approaches

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Question 1

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True/False

From a customer's perspective, value is the ratio of the bundle of benefits a customer receives from an offering compared to the costs incurred by the customer in acquiring that bundle of benefits.

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Question 2

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True/False

Value is some type of utility that a company and its products provide for customers.

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Question 3

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Starbucks is known to have shops located in close proximity to enable customers to shop conveniently. It appears that the coffee shop chain is offering place utility.

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Question 4

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Samsung's first value proposition when the brand was launched in the United States was price and functionality.

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Question 5

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When a firm communicates the value proposition of its products to customers, the value message only includes the benefits of the product.

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Question 6

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For firms interested in building long-term customer relationships, having satisfied customers is enough to ensure the relationship is going to last.

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Question 7

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Outbound logistics refers to the distribution of products.

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Question 8

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As long as all activities in the value chain are working well, managers do not need to be concerned with aligning the activities.

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Question 9

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The last element in the value chain is margin, which refers to profit made by the firm.

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Question 10

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At the strategic level, marketing (little m) serves as the driver of business strategy.

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Question 11

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

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Question 12

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

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Question 13

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The GE Business Screen portfolio model evaluates businesses on the dimensions of market attractiveness and business position.

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Question 14

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In the GE Business Screen model, the business position dimension looks at factors like government regulations, sensitivity to economic trends, and size of the market.

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Question 15

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A mission statement does NOT include a discussion of the firm's strategic vision.

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Question 16

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Goals are broad statements of generally desired accomplishments in support of the firm's mission statement.

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Question 17

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Strategy has two key phases: formulation and execution.

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Question 18

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Companies in some business cultures based outside the United States seem to have less pressure to achieve high levels of growth.

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Question 19

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A firm's competitive strategy leads it to decide if it can grow and if not, how to survive through stability or retrenchment.

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Question 20

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Internal environmental factors are all under the firm's control.

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