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MKTG 396 Chapter2 Exam with complete answers(verified for accuracy)
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MKTG 396 Chapter2 Exam with complete answers(verified for accuracy)
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MKTG 396 Chapter2 Exam withcomplete answers(verified for
accuracy)
Strategic Planning - answer ...is the process of developing and
maintaining a strategic fit between the organization's goals and
capabilities and its changing marketing opportunities
Strategic Planning Steps - answer 1. Defining the Company's
Mission
2. Setting Company Objectives
3. Designing the Business Portfolio
4. Implementing the Marketing Strategy
Mission Statement - answer ...is a statement of the organization's
purpose - what it wants to accomplish in the larger environment
Business Portfolio - answer ...is the collection of businesses and
products that make up the company
Business Portfolio Planning Process - answer 1. Analyze its current
business portfolio and determine which businesses should receive
more, less or no investment
2. Then shape the future portfolio by growth and downsizing
Portfolio Analysis - answer ...is the process by which management
evaluates the products and businesses that make up the company
, Strategic Business Unit (SBU) - answer ...is a subgroup of a single
business or collection of related businesses within the larger
organization
Evaluation of SBU's - answer 1. Attractiveness
2. Strengths
Boston Consulting Group (BCG) - answer ...is an internationally
known management consulting firm, has developed business
portfolio analysis
Growth Share Matrix (BCG) - answer a portfolio-planning method
that evaluates a company's SBUs in terms of market growth rate
and relative market share
Market Growth Rate - answer Provides a measure of market
attractiveness (vertical)
Relative Market Share - answer ...is a measure of strength in a
particular market (horizontal)
4 types of SBUs - answer 1. Stars
2. Cash Cows
3. Question Marks
4. Dogs
Stars - answer high-growth, high-share
Cash Cows - answer low-growth, high-share
Question Mark - answer high-growth, low-share
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