UCF MAR 3023 Exam 1 Review Questions With Complete
Solutions
(Lower left quadrant) ______ are in low-growth markets but are
high market share products. Because these products have
already received heavy investments to develop their high market
share, they have excess resources that can be spun off to those
products that need it. For example, the firm may decide to use
the excess resources generated by Brand C to fund products in
the question mark quadrant. Correct Answers Cash Cows
(Lower right quadrant) are in low-growth markets and have
relatively low market shares. Although they may generate
enough resources to sustain themselves, dogs are not destined
for "stardom" and should be phased out unless they are needed
to complement or boost the sales of another product or for
competitive purposes. Correct Answers Dogs
(Upper left quadrant) ______ occur in high-growth markets and
are high market share products. That is, stars often require a
heavy resource investment in such things as promotions and new
production facilities to fuel their rapid growth. As their market
growth slows, stars will migrate from heavy users of resources
to heavy generators of resources and become cash cows.
Correct Answers Stars
(Upper right quadrant) appear in high-growth markets but have
relatively low market shares; thus, they are often the most
managerially intensive products in that they require significant
resources to maintain and potentially increase their market
share. Managers must decide whether to infuse question marks
, with resources generated by the cash cows, so that they can
become stars, or withdraw resources and eventually phase out
the products. Brand A, for instance, is currently a question mark,
but by infusing it with resources, the firm hopes to turn it into a
star. Correct Answers Question Marks
3 phases of marketing plan Correct Answers Planning phase,
implementation phase, control phase
4 Macro strategies for Developing Customer Value Correct
Answers Customer excellence, operational excellence, product
excellence, locational excellence
4 Major Growth Strategies Correct Answers Market
Penetration, Market Development, Product Development,
Diversification
4 Steps in Ethical Decision-Making Framework Correct
Answers Identifying Issues, Gather Information and identify
stakeholders, Brainstorm and evaluate alternatives, Choose a
course of action
5 steps of marketing plan ... Correct Answers (1) Business
mission & objectives, (2) Situation analysis/SWOT, (3)
Identifying opportunities, (4) Implementation marketing mix, (5)
Evaluate performance using marketing metrics
A division of the firm itself that can be managed and operated
somewhat independently from other divisions and may have a
different mission or objectives. Correct Answers Strategic
Business Unit (SBU)
Solutions
(Lower left quadrant) ______ are in low-growth markets but are
high market share products. Because these products have
already received heavy investments to develop their high market
share, they have excess resources that can be spun off to those
products that need it. For example, the firm may decide to use
the excess resources generated by Brand C to fund products in
the question mark quadrant. Correct Answers Cash Cows
(Lower right quadrant) are in low-growth markets and have
relatively low market shares. Although they may generate
enough resources to sustain themselves, dogs are not destined
for "stardom" and should be phased out unless they are needed
to complement or boost the sales of another product or for
competitive purposes. Correct Answers Dogs
(Upper left quadrant) ______ occur in high-growth markets and
are high market share products. That is, stars often require a
heavy resource investment in such things as promotions and new
production facilities to fuel their rapid growth. As their market
growth slows, stars will migrate from heavy users of resources
to heavy generators of resources and become cash cows.
Correct Answers Stars
(Upper right quadrant) appear in high-growth markets but have
relatively low market shares; thus, they are often the most
managerially intensive products in that they require significant
resources to maintain and potentially increase their market
share. Managers must decide whether to infuse question marks
, with resources generated by the cash cows, so that they can
become stars, or withdraw resources and eventually phase out
the products. Brand A, for instance, is currently a question mark,
but by infusing it with resources, the firm hopes to turn it into a
star. Correct Answers Question Marks
3 phases of marketing plan Correct Answers Planning phase,
implementation phase, control phase
4 Macro strategies for Developing Customer Value Correct
Answers Customer excellence, operational excellence, product
excellence, locational excellence
4 Major Growth Strategies Correct Answers Market
Penetration, Market Development, Product Development,
Diversification
4 Steps in Ethical Decision-Making Framework Correct
Answers Identifying Issues, Gather Information and identify
stakeholders, Brainstorm and evaluate alternatives, Choose a
course of action
5 steps of marketing plan ... Correct Answers (1) Business
mission & objectives, (2) Situation analysis/SWOT, (3)
Identifying opportunities, (4) Implementation marketing mix, (5)
Evaluate performance using marketing metrics
A division of the firm itself that can be managed and operated
somewhat independently from other divisions and may have a
different mission or objectives. Correct Answers Strategic
Business Unit (SBU)
