MKTG 3340 EXAM 1 PRACTICE QUESTIONS WITH
VERIFIED ACCURATE ANSWERS
A value proposition can help _____ to develop the strategies to support it - Answers -
serve as the guide
describe each of the elements of the boston consulting group matrix.
- question marks
- star
- cash cows
- dogs - Answers - question marks: low share of high growth market
star: high growth and high market share
cash cows: low growth and high market share
dogs: low growth and low market share
what company plans to do to acheive its objectives are the ______. the specific actions
to make that happen are the _______ - Answers - strategies, tactics
if a company develops a road map to better understand its competitve situation, that is a
_______. - Answers - marketing plan
which of the following match the value proposition? - Answers - thirty second "elevator
speech"
which of these are elements of the strategic planning process? - Answers - - creating
the value proposition
- conducting a situation analysis
- developing a mission statement
what a company wants to accomplish in a certain time period is their ______, which
should be _______ and _________ - Answers - objective, realistic and measurable
a group of businesses is considered a __________ - Answers - portfolio
the government mandates a warning label on your product, what would this mean for
you company - Answers - a threat
a firm has knowledgeable employees - Answers - strength
a competitor has a more efficient employee training program - Answers - weakness
a growing market for a firms product - Answers - opportunity
, an important part of shaping strategy is developing a short explanation of the benefits
the product offers the buyer known as the ________ - Answers - value proposition
what are part of the Boston Consulting Group matrix? - Answers - - cash cows
- question marks
- dogs
- stars
match the product and marketing strategies with their description: market development -
Answers - create new markets for existing products
match the product and marketing strategies with their description: product development
- Answers - introduce new products to existing markets
match the product and marketing strategies with their description: market penetration -
Answers - increase sales of existing products to existing customers
match the product and marketing strategies with their description: diversification -
Answers - enter new markets with new products
when analyzing the external environment, companies examine - Answers - the macro
and micro marketplace
external environmental factors - Answers - -the economy
-the competition
-political environment
internal environmental factors - Answers - -technological capabilities
-financial resources
-human resources
the boston consulting group matrix bases its evaluation on two factors of the strategic
business unit, the first being the _________ and the second is the __________ -
Answers - market growth rate, relative market share
companies may develop ______ value propositions for different customers to convince
them why they should purchase a service or product - Answers - different
during the strategic planning process, a _______ is conducted to review both the
___________ factors that could impact the plan - Answers - situation analysis, internal
and external
a short description of why a acompany exists and its purpose is the _______. if the
company includes using safe environmental practices in this description, it probably
practices _________ - Answers - mission statement, green marketing
VERIFIED ACCURATE ANSWERS
A value proposition can help _____ to develop the strategies to support it - Answers -
serve as the guide
describe each of the elements of the boston consulting group matrix.
- question marks
- star
- cash cows
- dogs - Answers - question marks: low share of high growth market
star: high growth and high market share
cash cows: low growth and high market share
dogs: low growth and low market share
what company plans to do to acheive its objectives are the ______. the specific actions
to make that happen are the _______ - Answers - strategies, tactics
if a company develops a road map to better understand its competitve situation, that is a
_______. - Answers - marketing plan
which of the following match the value proposition? - Answers - thirty second "elevator
speech"
which of these are elements of the strategic planning process? - Answers - - creating
the value proposition
- conducting a situation analysis
- developing a mission statement
what a company wants to accomplish in a certain time period is their ______, which
should be _______ and _________ - Answers - objective, realistic and measurable
a group of businesses is considered a __________ - Answers - portfolio
the government mandates a warning label on your product, what would this mean for
you company - Answers - a threat
a firm has knowledgeable employees - Answers - strength
a competitor has a more efficient employee training program - Answers - weakness
a growing market for a firms product - Answers - opportunity
, an important part of shaping strategy is developing a short explanation of the benefits
the product offers the buyer known as the ________ - Answers - value proposition
what are part of the Boston Consulting Group matrix? - Answers - - cash cows
- question marks
- dogs
- stars
match the product and marketing strategies with their description: market development -
Answers - create new markets for existing products
match the product and marketing strategies with their description: product development
- Answers - introduce new products to existing markets
match the product and marketing strategies with their description: market penetration -
Answers - increase sales of existing products to existing customers
match the product and marketing strategies with their description: diversification -
Answers - enter new markets with new products
when analyzing the external environment, companies examine - Answers - the macro
and micro marketplace
external environmental factors - Answers - -the economy
-the competition
-political environment
internal environmental factors - Answers - -technological capabilities
-financial resources
-human resources
the boston consulting group matrix bases its evaluation on two factors of the strategic
business unit, the first being the _________ and the second is the __________ -
Answers - market growth rate, relative market share
companies may develop ______ value propositions for different customers to convince
them why they should purchase a service or product - Answers - different
during the strategic planning process, a _______ is conducted to review both the
___________ factors that could impact the plan - Answers - situation analysis, internal
and external
a short description of why a acompany exists and its purpose is the _______. if the
company includes using safe environmental practices in this description, it probably
practices _________ - Answers - mission statement, green marketing
