Chapter 2 Company and Marketing Strategy: Partnering to Build Customer Relationships
1. Your text suggested that Starbucks might consider a _____ strategy. This strategy would allow the company to start up or buy businesses outside of its current products and markets.
a. product development
b. market development
c. market penetration
d. diversification
2. There are many reasons why a firm might want to abandon products or markets. In these instances, companies would consider _____ rather than growing.
a. downsizing
b. demarketing
c. retrenching
d. none of the above
3. We may clearly say that strategic planning is _____ to a small company’s future.
a. important
b. useful
c. crucial
d. optional
4. A company’s strategic plan establishes what kinds of businesses the company will be in and its _____ for each one.
a. product line
b. marketing plan
c. management team
d. objectives
5. Marketing, finance, accounting, purchasing, and other departments work together to accomplish strategic objectives. Marketing is a _____ department.
a. functional
b. divisional
c. working
d. crucial
6. Marketing plays a key role in a company’s strategic planning. Which of the following does marketing provide?
a. guiding philosophy
b. inputs
c. strategies
d. all of the above
7. Partner relationship management with other companies has as its purpose to form an effective _____ that serves the customer.
a. value chain
b. value-delivery network
c. channel of distribution
d. supply chain
8. Pioneer Dried Foods works hard to link each of its company departments to accomplish its goals in what is called a company _____.
a. value chain
b. value-delivery network
c. channel of distribution
d. networking
9. A company’s value chain is successful when each department adds _____ for customers and _____ other departments.
a. satisfaction; coordinates with
b. value; shares budgets with
c. value; coordinates with
d. value; strengthens
10. Wal-Mart is a good example of partnering with others in _____.
a. the supply chain
b. co-op buying
c. the channel of distribution
d. the company
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Solution: Chapter 2 Company and Marketing Strategy: Partnering to Build Customer Relationships