MKTG 301 EXAM 2 ROTH WITH 105 QUESTIONS
AND ANSWERS NEWEST RATED A+
Marketing strategy - Ans Internal - goals and capabilities of the organization
External - marketing opportunities
Trying to match these two
Chipotle - mission isn't to sell burritos"
Steps of marketing strategy - Ans Define
set objectives and goals
design business portfolio
Define - Ans first step of marketing strategy - mission statement
Mission Statement - Ans what is the business, who is the customer, what does the customer
value, what are our competencies, what should our business be
must be - market oriented, realistic, specific, motivating, distinct competencies
Setting objectives and goals - Ans second step of marketing strategy
mission statement leads to detailed supporting objectives for each level of management, must
be measurable
Design business portfolio - Ans third step in marketing strategy
, combination of business that has potential to reach objectives
which businesses to enter
which to exit
how much to invest
BCG Matrix - Ans a means of evaluating strategic business units on the basis of (1) their
business growth rates and (2) their share of the market
Star - Ans lots of opportunity for growth, have a large part of market share
cash cow - Ans not a lot of growth, but enough market share to have continual revenue
question mark - Ans lots of growth opportunity, but uncertainty regarding entering the market
dog - Ans no growth, cant enter the market
criticism of BCG matrix - Ans limited variable
ignores interrelationship between business and customer
placement depends on definition of market
Product market expansion grid - Ans a portfolio-planning tool for identifying company growth
opportunities through market penetration, market development, product development, or
diversification
AND ANSWERS NEWEST RATED A+
Marketing strategy - Ans Internal - goals and capabilities of the organization
External - marketing opportunities
Trying to match these two
Chipotle - mission isn't to sell burritos"
Steps of marketing strategy - Ans Define
set objectives and goals
design business portfolio
Define - Ans first step of marketing strategy - mission statement
Mission Statement - Ans what is the business, who is the customer, what does the customer
value, what are our competencies, what should our business be
must be - market oriented, realistic, specific, motivating, distinct competencies
Setting objectives and goals - Ans second step of marketing strategy
mission statement leads to detailed supporting objectives for each level of management, must
be measurable
Design business portfolio - Ans third step in marketing strategy
, combination of business that has potential to reach objectives
which businesses to enter
which to exit
how much to invest
BCG Matrix - Ans a means of evaluating strategic business units on the basis of (1) their
business growth rates and (2) their share of the market
Star - Ans lots of opportunity for growth, have a large part of market share
cash cow - Ans not a lot of growth, but enough market share to have continual revenue
question mark - Ans lots of growth opportunity, but uncertainty regarding entering the market
dog - Ans no growth, cant enter the market
criticism of BCG matrix - Ans limited variable
ignores interrelationship between business and customer
placement depends on definition of market
Product market expansion grid - Ans a portfolio-planning tool for identifying company growth
opportunities through market penetration, market development, product development, or
diversification
