Exam 1 study guide
Exam 1 Review Questions
BUS2 130 Online
Chapter 2: Strategic Planning and the Marketing Process
1. What is a strategic plan? What is strategic planning?
2. What are the steps in the strategic planning process?
3. What is a mission statement? What are characteristics of a good mission statement? What is the difference between a market-oriented versus a product-oriented mission statement?
4. What is a business portfolio?
5. What is a strategic business unit (SBU)?
6. What is a portfolio analysis?
7. Which method/instrument can be used to analyze a current business portfolio? (the growth-share matrix)
8. What are the two dimensions most standard portfolio analysis methods use to evaluate
SBUs?
9. What are the two dimensions of the Boston Consulting Group’s (BCG) growth-share matrix? What are its components (e.g., stars, cash cows, question marks, dogs)? What are the four strategies a company can take for its SBUs? What are advantages and disadvantages of the BCG portfolio matrix?
10. What is the Product/Market Expansion Grid? What strategies can a company use to grow?
11. What is a value chain? What is a value delivery network?
12. What is market segmentation, market targeting, positioning, and differentiation? What is a market segment?
13. What components does the customer-driven marketing process entail?
14. What is the marketing mix? What are the 4 Ps?
Chapter 3: The Marketing Environment
1.
2.
3.
4.
5.
6.
7.
What is the marketing environment and why is it important to study?
Of what is the marketing environment mad up of (micro- and macro-envr.)?
What actors is the microenvironment made up of (company, suppliers, intermediaries, competitors, publics, customers)? Understand what each of these actors entails and what consequences they have on marketing.
What types of intermediaries do we distinguish? What types of publics do we distinguish? What are the five types of customer markets?
What are the major forces in a
BUS2 130 Online
Chapter 2: Strategic Planning and the Marketing Process
1. What is a strategic plan? What is strategic planning?
2. What are the steps in the strategic planning process?
3. What is a mission statement? What are characteristics of a good mission statement? What is the difference between a market-oriented versus a product-oriented mission statement?
4. What is a business portfolio?
5. What is a strategic business unit (SBU)?
6. What is a portfolio analysis?
7. Which method/instrument can be used to analyze a current business portfolio? (the growth-share matrix)
8. What are the two dimensions most standard portfolio analysis methods use to evaluate
SBUs?
9. What are the two dimensions of the Boston Consulting Group’s (BCG) growth-share matrix? What are its components (e.g., stars, cash cows, question marks, dogs)? What are the four strategies a company can take for its SBUs? What are advantages and disadvantages of the BCG portfolio matrix?
10. What is the Product/Market Expansion Grid? What strategies can a company use to grow?
11. What is a value chain? What is a value delivery network?
12. What is market segmentation, market targeting, positioning, and differentiation? What is a market segment?
13. What components does the customer-driven marketing process entail?
14. What is the marketing mix? What are the 4 Ps?
Chapter 3: The Marketing Environment
1.
2.
3.
4.
5.
6.
7.
What is the marketing environment and why is it important to study?
Of what is the marketing environment mad up of (micro- and macro-envr.)?
What actors is the microenvironment made up of (company, suppliers, intermediaries, competitors, publics, customers)? Understand what each of these actors entails and what consequences they have on marketing.
What types of intermediaries do we distinguish? What types of publics do we distinguish? What are the five types of customer markets?
What are the major forces in a