MKTG 301 ROTH - EXAM 2 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. strategy
Answer:
a matching process between internal and external components of a company
Question:
2. internal strategy component
Answer:
The organizations goals and capabilities
Question:
3. external strategy component
Answer:
Marketing opportunities
Question:
4. Steps of the strategy process
Answer:
Defining the company mission Setting company objectives and goals Designing the business portfolio
Planning marketing and other functional strategies
Question:
5. What is the purpose of a Mission Statement
Answer:
A statement of the organizations purpose
Question:
6. Characteristics of a good mission statement
Answer:
Market Oriented Realistic Specific Motivating Illustrative of distinctive competencies
Question:
7. Company goals and objectives
Answer:
Detailed supporting objectives for each level of management Must be measurable
Question:
8. What is the BCG Matrix
Answer:
a strategy tool that guides resource allocation decisions based on market share and growth rate of SBUs
, Question:
9. SBU
Answer:
Strategic Business Units -- businesses, divisions, markets, product lines, etc.
Question:
10. What are the dimensions of the BCG Matrix
Answer:
Cash Cow, Question Mark, Dog, Star
Question:
11. Cash Cow
Answer:
large piece of the pie, low growth, where we make a lot of money and can invest it into question marks
Question:
12. Question Mark
Answer:
high growth rate in this area; not a large part of the pie
Question:
13. Dog
Answer:
exit the market, low growth rate, tiny piece of the pie
Question:
14. Star
Answer:
question marks wants to grow into this, large piece of the pie, high growth rate
Question:
15. Criticisms of the BCG Matrix
Answer:
Limited number of variables used Ignore interrelationships between businesses(e.g., disney movies are
dogs) The placement of a business in the matrix is highly dependent on definition of market
Question:
16. The Product/Market Expansion Grid
Answer:
a portfolio-planning tool for identifying company growth opportunities
Question:
17. Dimensions of The Product/Market Expansion Grid
Answer:
Market penetration, market development, product development, diversification
QUESTIONS AND CORRECT ANSWERS
Question:
1. strategy
Answer:
a matching process between internal and external components of a company
Question:
2. internal strategy component
Answer:
The organizations goals and capabilities
Question:
3. external strategy component
Answer:
Marketing opportunities
Question:
4. Steps of the strategy process
Answer:
Defining the company mission Setting company objectives and goals Designing the business portfolio
Planning marketing and other functional strategies
Question:
5. What is the purpose of a Mission Statement
Answer:
A statement of the organizations purpose
Question:
6. Characteristics of a good mission statement
Answer:
Market Oriented Realistic Specific Motivating Illustrative of distinctive competencies
Question:
7. Company goals and objectives
Answer:
Detailed supporting objectives for each level of management Must be measurable
Question:
8. What is the BCG Matrix
Answer:
a strategy tool that guides resource allocation decisions based on market share and growth rate of SBUs
, Question:
9. SBU
Answer:
Strategic Business Units -- businesses, divisions, markets, product lines, etc.
Question:
10. What are the dimensions of the BCG Matrix
Answer:
Cash Cow, Question Mark, Dog, Star
Question:
11. Cash Cow
Answer:
large piece of the pie, low growth, where we make a lot of money and can invest it into question marks
Question:
12. Question Mark
Answer:
high growth rate in this area; not a large part of the pie
Question:
13. Dog
Answer:
exit the market, low growth rate, tiny piece of the pie
Question:
14. Star
Answer:
question marks wants to grow into this, large piece of the pie, high growth rate
Question:
15. Criticisms of the BCG Matrix
Answer:
Limited number of variables used Ignore interrelationships between businesses(e.g., disney movies are
dogs) The placement of a business in the matrix is highly dependent on definition of market
Question:
16. The Product/Market Expansion Grid
Answer:
a portfolio-planning tool for identifying company growth opportunities
Question:
17. Dimensions of The Product/Market Expansion Grid
Answer:
Market penetration, market development, product development, diversification
