Marketing Management-I

Assignment - 2

1. The three stages of strategic marketing process are: ________________ the value;
________________ the value; ____________________ the value.

Answer 1: Creation/Communication/Delivery

Replacement question: (added an ‘of’ to each part)

The three stages of strategic marketing process are ______________ of the value;
_____________ of the value; _______________ of the value.

(1) Creation, Communication, Customization

(2) Creation, Communication, Delivery
(3) Identification, Processing, Targeting
(4) Identification, Communication, Targeting

Answer 2: Creation, Communication, Delivery

2. According to Ansoff’s Product-Market Expansion Grid, which of the following strategy you
would recommend to a manager for current products in new markets:
(1) Market penetration strategy
(2) Product development strategy
(3) Market-development strategy
(4) Diversification strategy

Answer 2: Market-development strategy

3. The identification and profiling of distinct groups of customers who might prefer varying
offering mix is known as ________.
a. Mass Marketing
b. segmentation
c. targeting
d. positioning
e. Customer relationship Management

Answer 3: b-Segmentation

4. Value is function of ________.

a. the price paid by a consumers for a product
b. the cost of manufacturing a product
c. the degree to which consumer demand for the product is positive
d. the sum of the perceived tangible and intangible benefits and costs to customers
 e. None of the above

Answer 4: d

5. The ________ concept holds that consumers and businesses, if left alone, will ordinarily not
buy enough of the organization’s products.
a. production
b. selling
c. marketing
d. product
e. holistic marketing

Answer 5: b

6. The ________ in the value chain include the sequence of bringing materials into the
business, converting them into finished products, shipping them out, marketing them, and
providing services.
a. operations processes
b. routine activities
c. primary activities
d. secondary activities
e. tertiary activities

Answer 6: c

7. According to Michael E Porter, three generic strategies are (1)…………………………..

(2)………………………………………. (3)……………………………………………

a. Overall Cost Leadership, Segmentation, Targeting

b. Overall Cost Leadership, Targeting, Differentiation
c. Overall Cost Leadership, Focus Strategy, Operational Excellence
d. Overall Cost Leadership, Focus Strategy, Differentiation
e. Overall Cost leadership, Operational Excellence, Focus Strategy

Answer d: Overall Cost Leadership, Focus Strategy, Differentiation

8. The three characteristics of core competence include:

1)………………………………………………………………………………………………..
(2)……………………………………………………………………………………………….
(3)………………………………………………………………………………………….

(a) (1) A source of competitive advantage by creating perceived customer benefit (2)
Application to wide variety of markets (3) Difficult to imitate

(b) (1) A source of competitive advantage by creating perceived customer benefit (2) Application
to wide variety of markets (3) Reducing cost by achieving operational excellence
(c) (1) High innovation to create high customer value (2) Large customer base (3) Difficult to
imitate

(d) Better understanding of the need to create products (2) Application to wide variety of markets
(3) Reducing cost by achieving operational excellence

Answer : (a)

9. If a firm plan to expand the number of existing products sold to its current markets, it would
use an integrative growth strategy termed as “market-penetration strategy.” True/False

10. A strategy is a game plan for achieving what the business unit wants to achieve. True/False