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Marketing Problems and Strategies Study Guide Flashcards | StudBud
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Marketing Problems and Strategies Study Guide
Marketing Problems and Strategies Study Guide
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1
What is the expansion for the acronym SMART used in specifying corporate objectives?
Structured, Manageable, Acceptable, Related, and Theoretical
Standardized, Manageable, Accountable, Relevant, and Targeted
Structured, Marketable, Accountable, Reusable, and Targeted
Specific, Measurable, Attainable, Relevant, and Time-bound
2
Which of the following falls within the scope of corporate strategy?
Target market definition
Line extension
Vertical integration
Branding policies
3
Which of the following is typically part of using customer equity to estimate value of alternative marketing actions?
Forecasting the costs incurred in promoting products
Assessing the shareholder value of each marketing action
Discouraging customer intimacy
Calculating the lifetime values of each of its customers
4
Which of the following businesses seldom adheres to a policy of low competitive prices?
Analyzer
Reactor
Prospector
Low Cost Defender
5
A(n) _____ is used to assess the impact and the timing of an environmental event in a firm.
Activity Network Diagram
Opportunity/Threat Matrix
BCG Matrix
Affinity Diagram
6
I (the student) will review concepts like this for the exam: Explain the significance of critical success factors.
False
True
7
Business-level strategies allocate resources:
among product-market entries in the business unit.
across components of the marketing plan for a specific product-market entry
among businesses in the corporate portfolio.
across functions shared by multiple businesses.
8
Page 18 in Chapter One might have a good chunk of information that I should know....
False
True
9
Which of the following increases a buyer’s bargaining power?
Backward integration by suppliers
Higher importance of the product to the buyer
Higher switching costs
Low buyer profitability
10
This exam is worth 100 points, has multiple choice, short answer, and is on the first four chapters of the textbook.
True
False
11
The principles of _____ involve meeting humanity’s needs without harming future generations.
Specificity
Adaptability
Sustainability
Reversibility
12
Which of the following statements is true of a reactor strategy?
It lacks any well-defined competitive strategy.
It is more aggressive in marketing established products than its competitor
It competes primarily by stimulating and meeting new market opportunities.
It responds rapidly to early signals concerning areas of opportunity.
13
I am going to review things like this: Explain the characteristics of strategic business units.
False
True
