Mark 3000 Final Exam Loomer
Questions and Answers Verified
Solutions Latest Update
(2026/2027)
Question:
Terms in this set (59)
-Set of decisions that the firm uses to respond to
What is the Marketing Mix?
the wants of its consumers
-Creates value through price, product, place, and
promotion decisions.
-Product: Creates Value
How do the four P's create value?
-Price: Captures Value
-Place: Delivers Value
-Promotions: Communicates Value
-Customer Excellence
How do strategies create and
-Operational Excellence
maintain SCA? (Four Parts)
-Product Excellence
-Locational Excellence
What is a Situations Analysis (SWOT)?
•A situation analysis using a SWOT framework
assesses:
-The internal environment in regard to its strengths
and weaknesses
-The external environment in terms of its
opportunities and threats
•A SWOT analysis must be comprehensive, meaning
,the firm must possess expertise in both what the
firm can provide and what the market wants the
firm to provide
What are company capabilities?
•Successful marketing firms lean into their core
competencies:
•A defining capability or advantage that
distinguishes an enterprise from its competitors
•Something they are uniquely good at
•These are similar to sustainable competitive
advantages, but more specific to the product or
offering itself
One of the most popular portfolio analysis
What is a Portfolio Analysis (BCG)?
methods, developed by the Boston Consulting
Group (BCG), requires that firms classify all their
products or services into a two-by-two matrix
based on market share and growth rate
Regarding a Portfolio Analysis (BCG)
Stars: (High-growth markets with high market share
products) often require a heavy resource
what are Stars?
investment in promotions and new production
facilities to fuel their rapid growth.
Ex: Latest smartphone that had significant share of
market and had sales rapidly expand.
Cash Cows: (low-growth but high market share
Regarding a Portfolio Analysis (BCG)
products) have already received heavy investments
what are Cash Cows?
to develop their market share, they have excess
resources that can be spun off to those products
that need it more.
Ex: Colgate toothpaste is a leading brand with high
market share but most people already use
toothpaste so there are not new consumers
, looking to buy so it has low growth.
Dogs (low-growth markets with relatively low
Regarding a Portfolio Analysis (BCG)
market shares) may generate enough resources to
what are Dogs?
sustain themselves, but should be phased out
unless they are needed to complement another
product or for competitive purposes.
Ex: an old fashioned camera in the digital
photography era. It has a small market and is in a
declining industry.
Answer:
Question:
Marks: (high-growth markets but
Regarding a Portfolio Analysis (BCG)
relatively low market shares) are often the most
what are Question Marks?
managerially intensive products in that they require
significant resources to maintain and increase their
market share.
Ex: A new entrant in the electric vehicle market like
Rivian. It is a rapidly growing industry but has not
yet obtained a high market share.
There are four basic growth strategies firms use to
What are the four basic growth
grow based on the decision to enter new markets
strategies firms use?
or develop new products and services.
-Market Penetration
-Market Development
-Product Development
-Diversification
Questions and Answers Verified
Solutions Latest Update
(2026/2027)
Question:
Terms in this set (59)
-Set of decisions that the firm uses to respond to
What is the Marketing Mix?
the wants of its consumers
-Creates value through price, product, place, and
promotion decisions.
-Product: Creates Value
How do the four P's create value?
-Price: Captures Value
-Place: Delivers Value
-Promotions: Communicates Value
-Customer Excellence
How do strategies create and
-Operational Excellence
maintain SCA? (Four Parts)
-Product Excellence
-Locational Excellence
What is a Situations Analysis (SWOT)?
•A situation analysis using a SWOT framework
assesses:
-The internal environment in regard to its strengths
and weaknesses
-The external environment in terms of its
opportunities and threats
•A SWOT analysis must be comprehensive, meaning
,the firm must possess expertise in both what the
firm can provide and what the market wants the
firm to provide
What are company capabilities?
•Successful marketing firms lean into their core
competencies:
•A defining capability or advantage that
distinguishes an enterprise from its competitors
•Something they are uniquely good at
•These are similar to sustainable competitive
advantages, but more specific to the product or
offering itself
One of the most popular portfolio analysis
What is a Portfolio Analysis (BCG)?
methods, developed by the Boston Consulting
Group (BCG), requires that firms classify all their
products or services into a two-by-two matrix
based on market share and growth rate
Regarding a Portfolio Analysis (BCG)
Stars: (High-growth markets with high market share
products) often require a heavy resource
what are Stars?
investment in promotions and new production
facilities to fuel their rapid growth.
Ex: Latest smartphone that had significant share of
market and had sales rapidly expand.
Cash Cows: (low-growth but high market share
Regarding a Portfolio Analysis (BCG)
products) have already received heavy investments
what are Cash Cows?
to develop their market share, they have excess
resources that can be spun off to those products
that need it more.
Ex: Colgate toothpaste is a leading brand with high
market share but most people already use
toothpaste so there are not new consumers
, looking to buy so it has low growth.
Dogs (low-growth markets with relatively low
Regarding a Portfolio Analysis (BCG)
market shares) may generate enough resources to
what are Dogs?
sustain themselves, but should be phased out
unless they are needed to complement another
product or for competitive purposes.
Ex: an old fashioned camera in the digital
photography era. It has a small market and is in a
declining industry.
Answer:
Question:
Marks: (high-growth markets but
Regarding a Portfolio Analysis (BCG)
relatively low market shares) are often the most
what are Question Marks?
managerially intensive products in that they require
significant resources to maintain and increase their
market share.
Ex: A new entrant in the electric vehicle market like
Rivian. It is a rapidly growing industry but has not
yet obtained a high market share.
There are four basic growth strategies firms use to
What are the four basic growth
grow based on the decision to enter new markets
strategies firms use?
or develop new products and services.
-Market Penetration
-Market Development
-Product Development
-Diversification
