MNM3709 - STRATEGIC MARKETING EXAM QUESTIONS AND ANSWERS

MNM3709 - STRATEGIC MARKETING EXAM QUESTIONS AND ANSWERS Different strategy levels in an organisation - Answer- Corporate level ,Business level functional level. Corporate strategy - Answer- Overall purpose and scope of the org, how value can be added. Business strategy - Answer- How do we compete in this market relating to each business unit and product line. Functional strategy - Answer- Supports business level strategy through marketing,HR,production, info systems and finance functions. Strategic business unit (SBU) - Answer- SBU's are distinct business units set up to handle specific product lines Environmental variables - Answer- Demographic International Technological Legal/government Social and cultural Economic Demographic environmental variables - Answer- Age,race,sex,economic status, level of education, income level and unemployment. International environmental variables - Answer- Political disposition in countries, change in leadership or culture can increase/decrease economic participation of the rest of the world. Technical environmental variables - Answer- Speed of change. Regulating change. Higher budgets. Product adjustments versus high research investment. Limitless innovation. Social and cultural variables - Answer- Replacing the traditional resume' with an in- depth personal brand. Economic variables - Answer- Inflation. People saving less and borrowing more.(savings ratio) Increase in debt. Legal environmental variables - Answer- Employment laws,international trade regulations and restrictions and any other laws and regulations in a country. Growth share matrix - Answer- a chart used to describe SBU's based on their market growth and market share rates. Dog - Answer- SBU's with Low market growth, low market share Cash cow - Answer- SBU's with Low market growth, High market share Problem child - Answer- SBU's with High market growth, low market share Star - Answer- SBU's with High market growth, high market share Key barriers to entry - Answer- Economies of scale