Transcript - Chap 2 Jeopardy

Chapter 2 Game
MC
MC
MC
Short Answer
100
100
100
100
100
100
100
100
100
200
200
200
200
200
300
300
300
300
300
400
400
400
400
400
500
500
500
500
500
MC
The process of developing and
maintaining a strategic fit between the
organization’s goals and capabilities
and its changing marketing
opportunities.
Strategic Planning
A statement of the organization’s
purpose-what it wants to
accomplish in the larger
environment
Mission Statement
They can be a company division, a
product line within a division, or
sometimes a single product or
brand.
SBU – Strategic Business Unit
The Answer is:
The BCG Growth Share Matrix classifies
SBU’s into 4 categories. What are the four
categories and explain what each is?
Stars, Cash Cows, Question
Marks, and Dogs
Making more sales to current
customers without changing a
firm’s products is ___________.
Market Penetration
Dividing a market into distinct
groups of buyers who have
distinct needs, characteristics or
behavior and who might require
separate products or marketing
programs.
Market Segmentation
The process of evaluating each
market segment’s attractiveness
and selecting one or more
segments to enter.
Market Targeting
Arranging for a product to occupy a
clear, distinctive and desirable place
relative to competing products in the
minds of target consumers.
Positioning
Please completely explain what
differentiation means. Why do
marketers want to differentiate their
product/service from competitors?
Providing and promoting
perceived differences between your
product and competitors.
Marketers do this so consumers
have a perceived different value
perception of a product.
The text suggests that instead of thinking of
selling products, marketers would be wise to take
the customer’s view and think of ________.
DAILY DOUBLE
Offering Solutions to Problems
What does SWOT stand for?
Strengths
Weaknesses
Opportunities
Threats
The collection of businesses
and products that make up
the company.
Business Portfolio
Identify and explain
each of the 4Ps of
marketing.
Product
Place
Price
Promotion
In the BCG approach, ________ are
high-share, high-growth businesses or
products. They need heavy investment
to finance rapid growth. When their
growth slows down, they turn into
________.
DAILY DOUBLE
In the BCG approach,
STARS are high-share, highgrowth businesses or
products. They need heavy
investment to finance rapid
growth. When their growth
slows down, they turn into
CASH COWS.
_____ are low-growth, high share
businesses or products. They
generate a lot of cash that the firm
uses to pay its bills and support
other SBUs that need investment.
Cash Cows
A portfolio planning method
that evaluates a company’s
strategic business units in terms
of their market share. SBU’s
are classified as stars, cash
cows, question marks and dogs.
BCG Growth Share Matrix
Reducing the business portfolio by
eliminating products or business
units that are not profitable or that
no longer fit the company’s overall
strategy.
Downsizing
A strategy for company growth
through starting up or acquiring
businesses outside the company’s
current products and markets.
Diversification
The network made up of the
company, suppliers, distributors
and ultimately customers who
“partner” with each other to
improve the performance of the
entire system.
Value Delivery Network
The process that turns marketing
strategies and plans into
marketing actions in order to
accomplish strategic marketing
objectives.
Marketing Implementation
Why is it important for a company’s
marketing strategies and culture to be
aligned?
What are some problems with matrix
approaches?
Explain why, according to the
authors of your text, the four Ps
concept of the marketing mix takes a
seller’s view of the market, not the
buyer’s view. How should marketers
consider the buyer’s view?
What role does the marketing mix
play in positioning?
In SWOT analysis, what is the difference
between a weakness and a threat?