MKTG 301 Exam 2 Coupland Questions With
Correct Answers
strategic planning - ANSWER process of developing and maintaining a strategic fit
between the organizations goals and capabilities and it's changing marketing
opportunities
what questions should a sound mission statement answer - ANSWER what is our
business? Who is the customer? What did the comsumer where is value? What should
our business be?
Mission statement - ANSWER statement of the organizations purpose - what it wants to
accomplish within the larger environment
what two things should mission statements be - ANSWER market oriented and defined
in terms of satisfying customer needs
Business portfolio - ANSWER The collection of businesses and products that make up the
company
portfolio analysis - ANSWER The process by which management evaluate the products
and businesses that make up the company
what is the Boston consulting group approach (BCG Matrix) - ANSWER portfolio
,planning message that evaluates a companies SBU's in terms of market growth rate and
relative market share
characteristics of a cash cow - ANSWER Low growth high share. Established and
successful. Needs less investment to hold their market shares. Because of this they
produce a lot of cash that the company can use to pay bills and support other SBU's that
need investment
what is a disadvantage of the BCG matrix - ANSWER it's good for current but not great
for future planning
what are the four areas on the market expansion grid - ANSWER market penetration,
product development, market development, diversification
value chain - ANSWER The series of internal departments that carry out value creating
activities to design, produce, market, deliver, and support a firms products
value delivery network - ANSWER The network made up of the company, its supporters,
it's distributors, and ultimately, it's customers who partner with each other to improve
the performance of the entire system
marketing strategy - ANSWER The marketing logic by which the company hopes to
create customer value and achieve profitable customer relationships
market segmentation - ANSWER dividing a market into distinct groups of buyers who
, have different needs, characteristics, or behaviors, and two might require separate
products or marketing programs
market segment - ANSWER A group of consumers who respond in a similar way to a
given set of marketing efforts
market targeting - ANSWER The process of evaluating each market segments
attractiveness and selecting one or more segments to enter
differentiation - ANSWER actually differentiating the market offering to create superior
customer value
positioning - ANSWER arranging for a product to occupy a clear, distinctive, and
desirable place relative to competing products in the minds of target consumers
marketing mix - ANSWER A set of tactical marketing tools (product, price, police,
promotion) that the firm blends to produce their responses it wants in the target market
SWOT analysis - ANSWER overall a valuation of the company's strengths, weaknesses,
opportunities and threats
what is the goal of the SWOT analysis - ANSWER to match the company strengths too
attractive opportunities in the environment, while illuminating or overcoming the
weaknesses and minimizing the threats
Correct Answers
strategic planning - ANSWER process of developing and maintaining a strategic fit
between the organizations goals and capabilities and it's changing marketing
opportunities
what questions should a sound mission statement answer - ANSWER what is our
business? Who is the customer? What did the comsumer where is value? What should
our business be?
Mission statement - ANSWER statement of the organizations purpose - what it wants to
accomplish within the larger environment
what two things should mission statements be - ANSWER market oriented and defined
in terms of satisfying customer needs
Business portfolio - ANSWER The collection of businesses and products that make up the
company
portfolio analysis - ANSWER The process by which management evaluate the products
and businesses that make up the company
what is the Boston consulting group approach (BCG Matrix) - ANSWER portfolio
,planning message that evaluates a companies SBU's in terms of market growth rate and
relative market share
characteristics of a cash cow - ANSWER Low growth high share. Established and
successful. Needs less investment to hold their market shares. Because of this they
produce a lot of cash that the company can use to pay bills and support other SBU's that
need investment
what is a disadvantage of the BCG matrix - ANSWER it's good for current but not great
for future planning
what are the four areas on the market expansion grid - ANSWER market penetration,
product development, market development, diversification
value chain - ANSWER The series of internal departments that carry out value creating
activities to design, produce, market, deliver, and support a firms products
value delivery network - ANSWER The network made up of the company, its supporters,
it's distributors, and ultimately, it's customers who partner with each other to improve
the performance of the entire system
marketing strategy - ANSWER The marketing logic by which the company hopes to
create customer value and achieve profitable customer relationships
market segmentation - ANSWER dividing a market into distinct groups of buyers who
, have different needs, characteristics, or behaviors, and two might require separate
products or marketing programs
market segment - ANSWER A group of consumers who respond in a similar way to a
given set of marketing efforts
market targeting - ANSWER The process of evaluating each market segments
attractiveness and selecting one or more segments to enter
differentiation - ANSWER actually differentiating the market offering to create superior
customer value
positioning - ANSWER arranging for a product to occupy a clear, distinctive, and
desirable place relative to competing products in the minds of target consumers
marketing mix - ANSWER A set of tactical marketing tools (product, price, police,
promotion) that the firm blends to produce their responses it wants in the target market
SWOT analysis - ANSWER overall a valuation of the company's strengths, weaknesses,
opportunities and threats
what is the goal of the SWOT analysis - ANSWER to match the company strengths too
attractive opportunities in the environment, while illuminating or overcoming the
weaknesses and minimizing the threats
