Chapter 2

Question 1

Cash Cow (PORTFOLIO)

Answer 1

generates more cash than it needs to maintain its marketshare

Question 2

competitive advantage

Answer 2

SUPERIOR BABY!

Question 3

control

Answer 3

provides mechanisms for evaluation marketing results

Question 4

cost competitive advantage

Answer 4

Low cost

Question 5

diversification

Answer 5

Increase sales by introducing new products into new markets

Question 6

DOg (PORTFOLIO)

Answer 6

LOW growth potential and a SMALL market share

Question 7

enviromental scanning

Answer 7

collection of information about foreces, events and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan

Question 8

evaluation

Answer 8

GAUGING

Question 9

experience curves

Answer 9

show costs declining at a predicatable rate as experience with a product increases

Question 10

Four P’s?

Answer 10

PRODUCT
PLACE
PROMOTION
PRICE
-----the marketing mix yo!!!

Question 11

implementation

Answer 11

turns a marketing plan into action assignments and ensures that these assignments are exectued in a way that ccomplishes the plans obejectives

Question 12

Market Development

Answer 12

ATTRACTS new customers to existing products

Question 13

market opportunity analysis (MOA)

Answer 13

the size and sales potential of market segments that are interest to the firm and the assessment of KEY COMPETITORS in these market segments

Question 14

Market PENETRATION

Answer 14

tries to INCREASE market share among existing customers

Question 15

marketing audit

Answer 15

systematic evaluation of the objectives, strategies, structure and performance of the marketing organization

Question 16

marketing mix?

Answer 16

FOUR pS!
Product
promotion
price 
place

Question 17

marketing myopia

Answer 17

defining a business in terms of goods or services

Question 18

marketing objective…what do we gotta do guys?!

Answer 18

what needs to be accomplished through marketing activities?

Question 19

marketing plan

Answer 19

written document that acts as a guidebook of marketing activites for the marketing manager

Question 20

marketing planning

Answer 20

designing activites relationg to marketing objectives and the changingn marketing enviroment

Question 21

Marketing stategy

Answer 21

describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets

Question 22

mission statement

Answer 22

state of the firms business blah blah blah

Question 23

NICHE competitive advantage

Answer 23

when a firm seeks to target and efectively serve a small segment of a market

Question 24

portfolio matrix

Answer 24

a tool for allocating resources among products or strategic business units on the basis

Question 25

problem child (question mark) (PORTFOLIO)

Answer 25

a business unit that shows RAPID GROWTH but poor profit margins!!!

Question 26

product development

Answer 26

entails the creation of new products for present markets!!

Question 27

product/service differntiation competitive advantage

Answer 27

something that is UNIQUE and valuable to buyers….by offering a lower price than competitors..

PRICE cHeCK!

Question 28

Star (PORTFOLIO)

Answer 28

fast growing market leader

Question 29

strategic business unit (SBU)

Answer 29

subgroup or single business or collection of related businesses withing the larger organization

Question 30

stragical planning

Answer 30

mangerial process of creating and maintaing

Question 31

substainable competitive advantage

Answer 31

advantage that cannot be coped by the competition

Question 32

SWOT analysis

Answer 32

S-internal strengths
W-weaknesses
O-external opportunies
T-Threats

Question 33

postaudit tasks

Answer 33

profile and make reccomendations
ensure the role
make someone accountable