PSU Marketing 301 Exam 2 questions
well answered
Steps in the strategy Process - correct answer ✔✔-Mission Statement
-Setting company objectives and goals
-Designing a business portfolio
-Planning Marketing and other functional strategies
Mission Statement - correct answer ✔✔Statement of the organizations purpose
Must be: Market Oriented, Realistic, Specific, Motivating, and Illustrative of core competencies
Setting Company Goals - correct answer ✔✔Supporting objectives for each level of management
Designing the Business Portfolio - correct answer ✔✔What business to enter/exit
BCG Matrix - correct answer ✔✔compares market attractiveness to the strength of the company
Star - correct answer ✔✔-High Market Share, High Growth Rate
-Will turn into a Cash Cow
Question Mark - correct answer ✔✔-Low Market Share, High Growth Rate
-Strives to become a star
Cash Cow - correct answer ✔✔-High Market Share, Low Growth Rate
-Big market that makes money
Dog - correct answer ✔✔-Low Market Share, Low Growth Rate
, -Exit Market ASAP
Product/Market Expansion Grid - correct answer ✔✔Looks at growth of a company
Market Penitration - correct answer ✔✔Increase sales without changing the product
Product Development - correct answer ✔✔New or modified products in existing markets
Market Development - correct answer ✔✔Entering in new demographic or geographic markets
Diversification - correct answer ✔✔New product in a new market
Strategy formulation steps - correct answer ✔✔-What do we know?
-What do we want to accomplish?
-How will we do it?
Marketing Management - correct answer ✔✔Plan->Implement->Control... Analyze everything
Market Plan - correct answer ✔✔-Executive summary
-Current market situation
-SWOT analysis
-Objectives
-Marketing strategy
-Action programs
-Budgets
-Controls
Market Implantation - correct answer ✔✔Execution of the plan, more about personal relationships and
luck
well answered
Steps in the strategy Process - correct answer ✔✔-Mission Statement
-Setting company objectives and goals
-Designing a business portfolio
-Planning Marketing and other functional strategies
Mission Statement - correct answer ✔✔Statement of the organizations purpose
Must be: Market Oriented, Realistic, Specific, Motivating, and Illustrative of core competencies
Setting Company Goals - correct answer ✔✔Supporting objectives for each level of management
Designing the Business Portfolio - correct answer ✔✔What business to enter/exit
BCG Matrix - correct answer ✔✔compares market attractiveness to the strength of the company
Star - correct answer ✔✔-High Market Share, High Growth Rate
-Will turn into a Cash Cow
Question Mark - correct answer ✔✔-Low Market Share, High Growth Rate
-Strives to become a star
Cash Cow - correct answer ✔✔-High Market Share, Low Growth Rate
-Big market that makes money
Dog - correct answer ✔✔-Low Market Share, Low Growth Rate
, -Exit Market ASAP
Product/Market Expansion Grid - correct answer ✔✔Looks at growth of a company
Market Penitration - correct answer ✔✔Increase sales without changing the product
Product Development - correct answer ✔✔New or modified products in existing markets
Market Development - correct answer ✔✔Entering in new demographic or geographic markets
Diversification - correct answer ✔✔New product in a new market
Strategy formulation steps - correct answer ✔✔-What do we know?
-What do we want to accomplish?
-How will we do it?
Marketing Management - correct answer ✔✔Plan->Implement->Control... Analyze everything
Market Plan - correct answer ✔✔-Executive summary
-Current market situation
-SWOT analysis
-Objectives
-Marketing strategy
-Action programs
-Budgets
-Controls
Market Implantation - correct answer ✔✔Execution of the plan, more about personal relationships and
luck
