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Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

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Question 51

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Guided by marketing strategy,the company designs a marketing mix made up of factors under its control: product,price,place,promotion,process,physical evidence and people.

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Question 52

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Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

A) market development
B) product development
C) business portfolio
D) value chain
E) value delivery network

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Question 53

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Which of the following would NOT be a useful tool for determining marketing ROI?

A major resources firm has just developed a formal statement of its purpose.This firm has put together a mission statement.

The BCG matrix is the only approach to portfolio planning in widespread use today.

Which of the following is NOT an example of a market-oriented mission statement?

To be successful at marketing,companies must effectively turn marketing planning into ________.

________ involves adapting a firm to take advantage of opportunities in its constantly changing environment.

To improve its value-delivery network,a company needs to examine the value chains of its suppliers and distributors.

A vendor for Ford Motor Company received the following message from one of Ford's marketing managers: 'As we move forward during the 21^st century,it is incumbent upon us to inform you that Ford is committed to building profitable customer relationships by creating environmentally better cars and getting them to market faster at lower costs.' The marketing manager is most likely referring to Ford's ________.

Return on marketing investment (or marketing ROI) is best defined as a measure of ________.

In the Boston Consulting Group approach,________ provide(s) a measure of market attractiveness.

The agribusiness corporation,Monsanto,which manufactures a herbicide under the brand name,RoundUp,has more recently begun to market herbicide-resistant seeds for assorted agricultural and vegetable crops.This is an example of ________.

At McDonald's,'to be our customers' favourite place and way to and eat' is a product-oriented mission.

The BCG portfolio matrix classifies SBUs on two dimensions,namely ________ and ________.

Which of the following provides a CORRECT ANSWER to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?

In a SWOT analysis,which of the following would be considered a strength?

The Holiday Inn group has divided the total customer market into smaller segments and selected the most promising segments.Deciding what position it wants to occupy in these segments is called targeting.

Current or emerging external environmental or competitive factors that challenge a company's performance are known as ________.

Nokia has an annual plan in place to deal with the company's current SBUs and their operations.However,as a growth-oriented firm,it is interested in both domestic and international markets.This requires Nokia to constantly monitor the environment and adapt to the opportunities with which it is presented.To take advantage of its changing marketing opportunities,it is most important for Nokia to have which of the following in place?