Question 121)Starbucks has introduced a debit card that lets customer

121)Starbucks has introduced a debit card that lets customers prepay for coffee and snacks. This
effort by Starbucks management is an example of ________.
A) market development B) product development C) diversification
D) market penetration E) product adaptation
122)Wal-Mart, the world’s largest retailer, has successfully launched its stores in Mexico,
Canada, the U.K., and Germany, and other nations. This is an example of how Wal-Mart is
pursuing ________ as a growth strategy.
A) market penetration B) product development
C) demographic market development D) geographical market development E) diversification
123)Wal-Mart relies on sound relationships with its low-cost suppliers in order to pass low prices
on to consumers. Thus, forming a ________ is crucial to Wal-Mart’s success.
A) value delivery network B) growth-share matrix
C) customer relationship management policy D) market concept philosophy
E) diversification strategy
124)TelStar Plastics is in the process of dividing a market into distinct groups of buyers with
different needs, characteristics, and behaviors who might require separate products or marketing
programs. Which of the following is this firm doing?
A) market development B) market diversification C) market penetration D) market targeting
E) market segmentation
125)Paul Pendergraff has identified a group of potential customers who seem to respond in a
similar way to a series of magazine and radio advertisements for his company’s product. Paul has
identified a(n) ________.
A) target market B) market segment C) market
D) market position E) undefined niche
126)Paul Pendergraff is evaluating each market segment’s attractiveness and is in the process of
selecting one or more segments for his firm’s product to enter. What is Paul doing?
A) market targeting
B) marketing segmenting C) marketing
D) market positioning E) market penetrating
127)Favorite Memories specializes in serving market segments that major competitors overlook
and ignore. Which of the following best describes Favorite Memories?
A) market follower B) marketer challenger C) market seeker
D) market nicher
E) full market coverer
128)Saturn is “a different kind of company, a different kind of a car”; the Hummer is “like
nothing else.” These statements reflect a firm’s ________.
A) product portfolio B) target markets
C) market positioning D) strategy
E) market niche
129)Of the following, it is most important for marketers to develop ________ for their products.
A) customer management organizations
B) unique market positions
C) market management organizations D) marketing ROI data
E) marketing dashboards
130)Environmental Service Company wants to practice effective positioning. To do so, the
owners must ________ their marketing offering to give consumers more value than the services
offered by competitors.
A) differentiate B) promote
C) advertise D) sell
E) represent
131)Harris, the marketing manager at a small sports retail chain, has conducted a marketing
analysis. He has investigated the company’s internal resources and situational factors, as well
as factors and trends in the competitive sports retail chain market. Which of the following has
Harris completed?
A) SWOT analysis
B) business portfolio analysis C) executive summary
D) marketing plan E) marketing mix
132)Which of the following most accurately identifies a difference between a weakness and a
threat in SWOT analysis?
A) A company is more able to change a threat than a weakness. B) A company is more able to
change a weakness than a threat.
C) A company can be more negatively affected by a weakness than by a threat. D) A company
can be more negatively affected by a threat than by a weakness. E) A company can more easily
identify threats than weaknesses.
133)Emerson Studios, a chain of 25 portrait stores in five states, has organized its marketing
organization into different marketing activities that are headed by specialists. What type of
organization is this?
A) geographic B) product C) organic D) functional E) market
134)Peter Cramer is constantly involved in evaluating the results of marketing strategies and
plans and taking corrective action to ensure that objectives are attained. Peter’s current work is
most accurately classified as ________.
A) marketing control B) marketing planning C) strategic planning D) tactical planning E)
strategic control
135)Juanita Castro is looking at whether her company’s strategies are well matched to its
opportunities. Juanita is utilizing ________.
A) marketing control B) operating control C) strategic control D) SWOT analysis E) marketing
auditing
136)Why should a mission statement be market oriented instead of product or technology
oriented?
137)Why should a mission statement be “motivating” instead of stated in terms of sales or
profits?
138)What is a strategic business unit (SBU) and how is it involved in a business portfolio
analysis?
139)Into what BCG quadrant does a high-share, high-growth SBU fall?
Answer: It falls into the “star” category.
140) What type of strategy should a company use to manage its cash cows?
141) How might the BCG matrix represent a life cycle?
142) Give a situation in which the suggested strategy for a dog might NOT be to divest.
143)According to the product/market expansion grid, what strategy is a company following
when it attempts to increase sales of current products to current customers?
144)How might Party Planning Paradise, a company that sells a wide range of party supplies for
all occasions, implement a market development strategy?
145)According to the product/market expansion grid, what strategy would a fast-foodhamburger
restaurant follow if it offered a salad bar option during lunch hours?
146)Into what quadrant of the product/market expansion grid would a “new and improved”
product fall?
147)What are two situations in which a company may develop strategies for downsizing its
business portfolio?
148) How are partner relationship management and the value chain related?
149)Explain how a marketer of baking soda may attempt to attract more than one market
segment.
150)How might a marketer of pens alter the “product” portion of the marketing mix when
targeting female college students versus male college students?