Question 91)To improve its value delivery network, a company needs to examine the value chains of its

91)To improve its value delivery network, a company needs to examine the value chains of its
suppliers and distributors.
92)The image of a product in the minds of consumers is called market segmentation.
93)A market segment consists of consumers who respond in different ways to a given set of
marketing efforts.
94)Holiday Inn has divided the total customer market into smaller segments and selected the
most promising segments. Deciding what position it wants to occupy in these segments is called
targeting.
95)A company with limited resources would likely decide to serve all segments of a market.
96)When a company positions its product, it must first identify possible customer value
differences within a market segment that could be the basis of a competitive advantage for the
product.
97)Guided by marketing strategy, the company designs a marketing mix made up of factors
under its control: product, price, place, and promotion.
98)In the four Ps of the marketing mix, promotion refers solely to advertising.
99)One valid criticism of the four Ps concept is that services are not considered.
100)The four Ps concept takes the seller’s view of the market.
101)The four marketing management functions are analysis, planning, implementation, and
control.
102)In SWOT analysis, strengths and weaknesses refer to a firm’s internal environment, while
opportunities and threats refer to the external environment.
103)Through annual marketing planning, the company decides what it wants to do with each
business unit.
Answer: FALSE
104)Marketing planning is the task of selecting marketing strategies for each business, product,
or brand in a company with the goal of helping the company attain its overall objectives.
105)The final step in the marketing control process is taking corrective action to erase any gaps
between goals and performance.
106) Define strategic planning. Discuss the steps involved.
107)What is business portfolio planning? Discuss how a company might use the Boston
Consulting Group’s product portfolio analysis method.
and dogs. Once each SBU has been defined, a company can determine what role each will play
in the firm’s future, using strategies of building, holding, harvesting, or divesting each SBU.
108)What are some problems with matrix approaches?
109)The BCG is a useful approach to evaluate current businesses. Describe a device that a firm
could use to identify future growth opportunities.
110)What does the term “value-delivery network” mean? Explain.
111) Define marketing strategy. Discuss the steps in formulating marketing strategy.
112)Explain why, according to the authors of your text, the four Ps concept of the marketing
mix takes a seller’s view of the market, not the buyer’s view. How should marketers consider the
buyer’s view?
113)Define marketing planning. Briefly outline the major steps in a marketing plan.
114)Marketing departments are organized in several ways. Compare and contrast the most
common forms of marketing organizations.
115)Briefly discuss how marketers measure return on marketing investment, explaining why this
figure can be difficult to assess.
116)Monsanto operates in many businesses, including pharmaceuticals and food products. The
company defines its ________ as creating “abundant food and a healthy environment.”
A) strategy
B) market development C) business portfolio D) mission
E) value-delivery network
117)Kimball Gardens is a company that operates as two distinct businesses–one that sells lawn
and garden products and one that markets booklets. Each business is called a ________.
A) separate entity
B) strategic business unit (SBU) C) matrix
D) division
E) business portfolio
118)The pharmaceuticals division of Omni Healthcare holds low market share in a high-growthmarket. In order to increase market share, managers may decide to ________.
A) hold the pharmaceuticals division’s share B) implement a harvest strategy
C) use money from a cash cow to promote the pharmaceuticals division D) divest the SBU
E) diversify the pharmaceutical division
119)The Bank of New York bought Pershing, an off-shore investment firm with operations in
India, from Credit Suisse First Boston. The Bank of New York is pursuing a ________.
A) product development strategy B) downsizing strategy
C) diversification strategy
D) market penetration strategy E) product adaptation
120)Acme, Inc., has modified the production processes of its widgets and gadg

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