121)Starbucks has introduced a debit card that lets customers prepay for coffee and snacks. Thiseffort by Starbucks management is an example of ________.A) market development B) product development C) diversificationD) market penetration E) product adaptation122)Wal-Mart, the world’s largest retailer, has successfully launched its stores in Mexico,Canada, the U.K., and Germany, and other nations. This is an example of how Wal-Mart ispursuing ________ as a growth strategy.A) market penetration B) product developmentC) demographic market development D) geographical market development E) diversification123)Wal-Mart relies on sound relationships with its low-cost suppliers in order to pass low priceson to consumers. Thus, forming a ________ is crucial to Wal-Mart’s success.A) value delivery network B) growth-share matrixC) customer relationship management policy D) market concept philosophyE) diversification strategy124)TelStar Plastics is in the process of dividing a market into distinct groups of buyers withdifferent needs, characteristics, and behaviors who might require separate products or marketingprograms. Which of the following is this firm doing?A) market development B) market diversification C) market penetration D) market targetingE) market segmentation125)Paul Pendergraff has identified a group of potential customers who seem to respond in asimilar way to a series of magazine and radio advertisements for his company’s product. Paul hasidentified a(n) ________.A) target market B) market segment C) marketD) market position E) undefined niche126)Paul Pendergraff is evaluating each market segment’s attractiveness and is in the process ofselecting one or more segments for his firm’s product to enter. What is Paul doing?A) market targetingB) marketing segmenting C) marketingD) market positioning E) market penetrating127)Favorite Memories specializes in serving market segments that major competitors overlookand ignore. Which of the following best describes Favorite Memories?A) market follower B) marketer challenger C) market seekerD) market nicherE) full market coverer128)Saturn is “a different kind of company, a different kind of a car”; the Hummer is “likenothing else.” These statements reflect a firm’s ________.A) product portfolio B) target marketsC) market positioning D) strategyE) market niche129)Of the following, it is most important for marketers to develop ________ for their products.A) customer management organizationsB) unique market positionsC) market management organizations D) marketing ROI dataE) marketing dashboards130)Environmental Service Company wants to practice effective positioning. To do so, theowners must ________ their marketing offering to give consumers more value than the servicesoffered by competitors.A) differentiate B) promoteC) advertise D) sellE) represent131)Harris, the marketing manager at a small sports retail chain, has conducted a marketinganalysis. He has investigated the company’s internal resources and situational factors, as wellas factors and trends in the competitive sports retail chain market. Which of the following hasHarris completed?A) SWOT analysisB) business portfolio analysis C) executive summaryD) marketing plan E) marketing mix132)Which of the following most accurately identifies a difference between a weakness and athreat in SWOT analysis?A) A company is more able to change a threat than a weakness. B) A company is more able tochange a weakness than a threat.C) A company can be more negatively affected by a weakness than by a threat. D) A companycan be more negatively affected by a threat than by a weakness. E) A company can more easilyidentify threats than weaknesses.133)Emerson Studios, a chain of 25 portrait stores in five states, has organized its marketingorganization into different marketing activities that are headed by specialists. What type oforganization is this?A) geographic B) product C) organic D) functional E) market134)Peter Cramer is constantly involved in evaluating the results of marketing strategies andplans and taking corrective action to ensure that objectives are attained. Peter’s current work ismost accurately classified as ________.A) marketing control B) marketing planning C) strategic planning D) tactical planning E)strategic control135)Juanita Castro is looking at whether her company’s strategies are well matched to itsopportunities. Juanita is utilizing ________.A) marketing control B) operating control C) strategic control D) SWOT analysis E) marketingauditing136)Why should a mission statement be market oriented instead of product or technologyoriented?137)Why should a mission statement be “motivating” instead of stated in terms of sales orprofits?138)What is a strategic business unit (SBU) and how is it involved in a business portfolioanalysis?139)Into what BCG quadrant does a high-share, high-growth SBU fall?Answer: It falls into the “star” category.140) What type of strategy should a company use to manage its cash cows?141) How might the BCG matrix represent a life cycle?142) Give a situation in which the suggested strategy for a dog might NOT be to divest.143)According to the product/market expansion grid, what strategy is a company followingwhen it attempts to increase sales of current products to current customers?144)How might Party Planning Paradise, a company that sells a wide range of party supplies forall occasions, implement a market development strategy?145)According to the product/market expansion grid, what strategy would a fast-foodhamburgerrestaurant follow if it offered a salad bar option during lunch hours?146)Into what quadrant of the product/market expansion grid would a “new and improved”product fall?147)What are two situations in which a company may develop strategies for downsizing itsbusiness portfolio?148) How are partner relationship management and the value chain related?149)Explain how a marketer of baking soda may attempt to attract more than one marketsegment.150)How might a marketer of pens alter the “product” portion of the marketing mix whentargeting female college students versus male college students?
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