Group 3
Brandon Staggs
Zach Bennett
Laura Martin
Daniel Sneed
1. What are the steps in strategic planning at the corporate level? a. defining the company mission b. setting company objectives and goals c. designing the business portfolio d. all of the above
2. There are four parts to the product/market expansion grid: Market penetration, product development, market development,
_________________. a. Marketing b. Strategy c. Diversification d. None of the above
3. A strategy for company growth through starting up or acquiring businesses outside the company’s current products and markets is defined as: a. Product development b. Diversification c. Market penetration d. Product expansion
4. The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter is known as: a.
Market evaluation b.
Market ratings c.
Market selection d.
Market Targeting
5. The business portfolio is a collection of __________ & __________ that make up a company. a.
Businesses & Products b.
Consumers & Manufactures c.
Stocks & Bonds d.
Sales & Revenue
6. Which of the following is not a Marketing Objective? a.
Increase market share b.
Create local partnerships c.
Strategic planning d.
Increase Promotion

7. A statement of the organization’s purpose, or what it wants to accomplish in the larger environment is the company’s _____________. a. Strategic Business Unit b. Mission Statement c. Value Chain d. Market Segment
8. What is the term for the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved? a. b.
Marketing Control
Return on Marketing Investments c. d.
Strategic Planning
Downsizing
9. ____________ is the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives. a. b.
Marketing Mix
Differentiation c. Market Implementation d. Market Segmentation
10. What does the “W” in SWOT analysis stand for? a. b. c. d.
Winning
Weaknesses
Work
Web
1 D
2 C
3 B
4 D
5 A
6 C
7 B
8 A
9 C
10 B
Chapter 2 quiz questions
1.
What is a business portfolio? a.
A major activity in strategic planning whereby management evaluates the products and businesses that makes up the company. b.
The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. c.
The collection of businesses and products that make up the company

d.
A unit of the company that has a separate mission and objectives that can be planned separately from other company businesses.
2.
What is a growth strategy increasing sales to current market segments without changing the product? a.
Market development b.
Market penetration c.
Product development d.
Diversification
3.
What is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities? a.
Portfolio analysis b.
Strategic business unit c.
Market development d.
Strategic planning
4.
What type of statement defines the business in terms of satisfying basic customer needs? a.
Market-oriented mission statement b.
Product/expansion grid statement c.
Market segmentation statement d.
Market targeting statement
5.
What item is not part of a marketing plan? a.
Executive summary b.
Value delivery network c.
Budgets d.
Controls
6.
What does a company identify when first positioning a product? a.
Possible customer value differences that provide competitive advantages to build the position b.
The product’s similarity with another company’s product c.
The placement of the product when it is first being released to the public d.
The products cosmetic make up to better serve the customer’s needs
7.
What is a mission statement? a.
A statement of the organizations purpose and what it wants to accomplish in the larger environment b.
A customer driven marketing strategy c.
Developing and maintaining a strategy between the organizations goals and capabilities and its changing marketing opportunities d.
The process by which management evaluates the products and businesses that make up the company

8.
A portfolio-planning method that evaluates a company’s strategic business units in terms of its market growth rate and relative market share is? a.
Portfolio analysis b.
Business portfolio c.
Growth-share matrix d.
Market penetration
9.
What is downsizing? a.
A strategy to improve company growth by offering new products to the current market b.
Series of departments that carry out value creating activities to design, produce, market, deliver and support a firms product c.
The marketing concept that suggests that the company should revolve around building profitable relationships with important consumer groups d.
Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company’s overall strategy
10.
What must companies do to provide greater customer value and satisfaction than its competitors? a.
Adapt to the needs of the public b.
Only have one strategy no matter the size of the company c.
Gain strategic advantage by positioning their offerings against competitor’s offerings d.
Compete against all firms no matter the size of the company
Answers
1.
C
2.
B

3.
D
4.
A
5.
B
6.
A
7.
A
8.
C
9.
D
10.
C