California State University, Long Beach

MKTG 300

CHAPTER 2

1)Strategic marketing management addresses which of the following questions?

2. Strategic planning is usually conducted by        .
3. Which of the following is NOT true about strategic business units (SBUs)?
4. A                  strategy increases sales by introducing new products into new markets, while a        

strategy entails creating a new product targeted to its current customers.

5. The innovation matrix identifies three levels of change and innovation. They include               ,    , and       .
   1. adjacent innovation
   2. transformational innovation
   3. core innovation
6. Harvesting is an appropriate strategy for all the following products or SBUs EXCEPT   ,                , and          .
   1. Dogs
   2. Cash cows
   3. Problem children
7. An organization that chooses a          strategy attempts to maintain the product's market share in order to take advantage of the positive cash flow.
8. In the GE model, the appropriate action for areas of the matrix with high attractiveness is          .
9. A                  is a written document that acts as a guidebook of marketing activities for the marketing manager.

10. Key performance indicators          .
11.                 occurs when a company defines its business in terms of goods and services rather than in terms of the benefits customers seek.
12. When conducting a SWOT analysis, managers can identify opportunities and threats by               .
13. In a SWOT analysis, the prospect of entering new markets and launching new products would be listed under   .
14. Which of the following are ways that a company choosing a cost competitive advantage can reduce costs?
    1. Utilizing technology to reduce production costs
    2. Outsourcing low-skill, labor-intensive tasks
    3. Reverse engineering competitors' products
15. A                  is an advantage that cannot be copied by the competition in the near future.
16. A company that focuses on a unique aspect of its product is likely using a .
17. Carefully specified objectives should have all of the following characteristics EXCEPT   .
18. The three general strategies for selecting target markets include which of the following?
    1. Concentrate on one segment with one marketing mix
    2. Appeal to multiple market segments using multiple marketing mixes
    3. Appeal to the entire market with one marketing mix
19. A                  is the description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in these market segments.
20.                 is the most flexible of the four Ps because it is the easiest and quickest component to change.
21. Elements of product strategy can include all of the following EXCEPT     .
22.                 provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.