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Chapter 2 Game. MC. MC. MC. Short Answer. MC . 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 200. 200. 200. 200. 200. 300. 300. 300. 300. 300. 400. 400. 400. 400. 400. 500. 500. 500. 500. 500.

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  1. Chapter 2 Game MC MC MC Short Answer MC 100 100 100 100 100 100 100 100 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500

  2. The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.

  3. Strategic Planning

  4. A statement of the organization’s purpose-what it wants to accomplish in the larger environment

  5. Mission Statement

  6. They can be a company division, a product line within a division, or sometimes a single product or brand.

  7. SBU – Strategic Business Unit

  8. The Answer is: The BCG Growth Share Matrix classifies SBU’s into 4 categories. What are the four categories and explain what each is?

  9. Stars, Cash Cows, Question Marks, and Dogs

  10. Making more sales to current customers without changing a firm’s products is ___________.

  11. Market Penetration

  12. Dividing a market into distinct groups of buyers who have distinct needs, characteristics or behavior and who might require separate products or marketing programs.

  13. Market Segmentation

  14. The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

  15. Market Targeting

  16. Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers.

  17. Positioning

  18. Please completely explain what differentiation means. Why do marketers want to differentiate their product/service from competitors?

  19. Providing and promoting perceived differences between your product and competitors. Marketers do this so consumers have a perceived different value perception of a product.

  20. The text suggests that instead of thinking of selling products, marketers would be wise to take the customer’s view and think of ________. DAILY DOUBLE

  21. Offering Solutions to Problems

  22. What does SWOT stand for?

  23. Strengths Weaknesses Opportunities Threats

  24. The collection of businesses and products that make up the company.

  25. Business Portfolio

  26. Identify and explain each of the 4Ps of marketing.

  27. Product Place Price Promotion

  28. In the BCG approach, ________ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into ________. DAILY DOUBLE

  29. In the BCG approach, STARS are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into CASH COWS.

  30. _____ are low-growth, high share businesses or products. They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.

  31. Cash Cows

  32. A portfolio planning method that evaluates a company’s strategic business units in terms of their market share. SBU’s are classified as stars, cash cows, question marks and dogs.

  33. BCG Growth Share Matrix

  34. Reducing the business portfolio by eliminating products or business units that are not profitable or that no longer fit the company’s overall strategy.

  35. Downsizing

  36. A strategy for company growth through starting up or acquiring businesses outside the company’s current products and markets.

  37. Diversification

  38. The network made up of the company, suppliers, distributors and ultimately customers who “partner” with each other to improve the performance of the entire system.

  39. Value Delivery Network

  40. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.

  41. Marketing Implementation

  42. Why is it important for a company’s marketing strategies and culture to be aligned?

  43. What are some problems with matrix approaches?

  44. 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?

  45. What role does the marketing mix play in positioning?

  46. In SWOT analysis, what is the difference between a weakness and a threat?

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