L2:Company & Marketing Strategies

Which of the following is the first step in strategic planning?

• setting short-term goals

• developing the business portfolio

• defining the organizational mission

• formulating the key marketing strategies

Which of the following is NOT an example of product-oriented mission statements?

• "We are an online library."

• "We run theme parks."

• "We sell athletic shoes."

• "We sell memorable experiences."

According to the Boston Consulting Group approach, ________ provides a measure of market attractiveness.

• market growth rate

• market penetration

• market segmentation

• product design

______are low-growth, high-share businesses/products that need less investment to hold their market share.

• Stars

• Cash cows

• Dogs

• Question marks

The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ________.

• product development

• market development

• product differentiation

• diversification

Each company must divide up the total market, choose the best segments, and design strategies for profitably serving chosen segments. This process involves market segmentation, ________, differentiation, and positioning.

• market diversification

• marketing implementation

• supply-chain analysis

• market targeting

(a)   analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

The process of 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 ________.

• market segmenting

• differentiation

• target marketing

• positioning

Paul Robinson has identified a group of potential customers who seem to respond in a similar way to a series of magazine and radio advertisements for his company's product. Paul has identified a _________

• market segment

• target market

• niche market

• product attribute

What are stars according to the BCG growth-share matrix?

Answer explanation

As long as you correctly answered STAR as a high relative market share and high market growth rate.