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Marketing Strategy and Planning Quiz

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Questions and Answers

What is the main purpose of downsizing in a company?

To reduce the number of employees

To diversify the business

To increase profitability (correct)

To expand the product line

How does market segmentation contribute to marketing strategy?

By identifying distinct groups with different needs (correct)

By focusing only on existing customers

By merging all buyer groups into one

By reducing the number of available products

What does market positioning involve?

Promoting products without differentiation

Matching prices with competitors

Placing a product distinctly in consumers' minds (correct)

Merging products with competitors' offerings

What is the key aspect of marketing implementation?

Aligning marketing actions with objectives Signup and view all the answers

How is market targeting related to market segmentation?

By evaluating segment attractiveness and choosing one or more to enter Signup and view all the answers

What is a major activity in strategic planning where management evaluates the products and businesses that make up the company?

Portfolio analysis Signup and view all the answers

What does the BCG Growth-Share Matrix consist of?

Star, cash cow, question mark, dog Signup and view all the answers

What are some problems associated with Matrix Approaches in strategic planning?

Difficulty in defining SBUs and measuring market share and growth Signup and view all the answers

Which growth strategy involves increasing sales of an existing product in an existing market?

Market penetration Signup and view all the answers

What does a company's business portfolio consist of?

Collection of businesses and products that make up the company Signup and view all the answers