Chapter 2

Question 1

Mission Statement

Answer 1

The statement of the organization purpose. The value it offers and for whom.

Question 2

Positioning

Answer 2

Arranging for a product to occupy a clear and distinctive place relative to competing product.

Question 3

Implementation

Answer 3

The plan is transformed into action. It is the distribution strategy.

Question 4

Swot Analysis (Management of Marketing)

Answer 4

Strength
Weaknesses
Opportunities
Threats

Question 5

Product Market Expansion-Grid

Answer 5

Portfolio planning tool to identify the growth opportunities

Market Penetration
Product Development
Market Development
Diversification

Question 6

Product Development

Answer 6

New product in an existing market. It is part of the product market expansion grid.

Question 7

Portfolio Analysis

Answer 7

It is a tool that managers use to allocate resources to meet the objectives determines in the second part of the strategic planning.

Question 8

Market Penetration

Answer 8

Existing market, existing product. It is part of the product market expansion grid.

Question 9

Value Delievery Network

Answer 9

External relationship made to improve actual performance.

Question 10

Strategic Planning

Answer 10

Decide on long-term how it wants to act, where it wants to be. It gives a direction to the company.

Question 11

Diversification

Answer 11

New Market, New product. It is part of the product market expansion-grid.

Question 12

Market Development

Answer 12

Existing product in a new market. It is part of the product market expansion-grid.

Question 13

Functional Planning

Answer 13

What departments need to do in order to support the strategic planning. It is led by the corporate level, the marketing department.

Question 14

Operational Planning

Answer 14

Set specific goals, measure the results, evaluate and bring correction.

Question 15

BCG Growth-Share

Answer 15

Measure the relationship between the relative market share and the relative market growth rate. It is part of the Business Portfolio.

Question 16

Cash Cow

Answer 16

High market Share and Low Market Growth

Question 17

Star

Answer 17

Both high market share and market growth

Question 18

Question Mark

Answer 18

High growth rate and low market share

Question 19

Dog

Answer 19

Low Market growth rate and Low market share

Question 20

What are the steps, in order, of the strategic planning?

Answer 20

1. Mission Statement.
2. Translate the mission into objectives
3. Business Portfolio
4. Develop growth strategies

Question 21

Levels of Marketing Planning (3)

Answer 21

1. Strategic
2. Functional
3. Operational

Question 22

The objectives from the Strategic Business Plan have to be: ________

Answer 22

Specific
Measurable
Attainable 
Relevant
Time-Bound

Question 23

What are the marketing management functions?

Answer 23

1. Swot Analysis
2. Strategic Planning
3. Implementation.
4. Control

Question 24

Which variables of the marketing mix affect the positioning?

Answer 24

Place and Promotion

Question 25

Which variables of the marketing mix affect the targeting?

Answer 25

Price and Product

Question 26

What is the marketing analysis steps

Answer 26

1. Planning
2. Implementing
3. Control

Question 27

SMART

Answer 27

Specific 
Measurable
Attainable
Relevant
Time-bound

Question 28

Marketing Mix

Answer 28

Price, Product, Place, Promotion

Question 29

4C’s

Answer 29

Customer solution, convenience, cost, communication