Study Guide marketing strategy more likely essay questions… Chapter 1



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Study Guide MARKETING STRATEGY

* More likely essay questions…

Chapter 1

  1. What is Marketing Strategy

  2. What are the components of strategy?

  3. What is the difference between corporate strategy, business strategy, and functional strategy? What kind of tasks are included in each?

  4. What is the difference between the four main strategic orientations (product, production, sales, marketing)? What is the different types of market orientation?*

  5. What is the significance of delivering customer satisfaction in company performance outcomes?*

  6. What is included in a marketing plan?

Value Creation: SCA

  1. What is value creation and SCA?*

  2. What is customer value? What are some of the benefits and costs that determine customer value?

  3. What are the three firm value positions?*

  4. What is value innovation? What is the difference between a red ocean strategy and a blue ocean strategy? (reading 1) What are the four pillars of the blue ocean strategy?*

Chapter 2 & 3

  1. What is included in corporate strategy decisions?

  2. What is a mission statement? What characteristics does it have? (be prepared to write one)*

  3. What are the components of a company objective?

  4. What is a business portfolio? What kinds of portfolio decisions are given at the corporate level? Which frameworks would aid the corporation in making portfolio decisions?*

  5. What is the BCG matrix? What is it used for? What are the advantages and disadvantages of this framework?*

  6. What is the GE model? How is the GE model an improvement over the BCG model?

  7. What is the product market expansion grid? What is it used for?

  8. What is a business unit strategy? What kind of decisions are made at the business unit level?

  9. What are Porter’s generic strategies? What are the advantages and disadvantages of each? What is the difference between cost/differentiation/focus strategies?

  10. What are the suggested Miles and Snow strategies? What are the advantages and disadvantages of each?*

Chapter 4

  1. What is the difference between a market and an industry?

  2. What is included in the 5Cs analysis? what is it used for? Make sure you understand what they are and what we study under each C.

  3. What are Porter’s 5 Forces?

  4. What is the difference between market potential and market penetration? What forces slow market penetration? How do marketing mix decisions impact penetration?*

  5. What is a market development index? What does a low vs. high MDI indicate?

Chapter 5

  1. Explain the marketing research process.

  2. What are the different types of research design? What is the difference between them, and when is each appropriate? (exploratory, descriptive, causal)

  3. What is the difference between primary data and secondary data? What are the pros and cons of each?

  4. What is sampling? What is the difference between probability sampling and nonprobability sampling?

  5. What is a perceptual map? What is the difference in Semantic Scale maps and MDS maps in Markstrat? (be prepared to read one)

  6. What is conjoint Analysis? How is used, and what does the output tell us?

Chapter 6 & 7

  1. What is segmentation, targeting, and positioning?

  2. What is required for effective segmentation?

  3. What are the bases of segmentation?

  4. What are the main target market strategies?

  5. What is positioning and repositioning?

  6. What is a value curve? How is it used? Also revisit how it was used in blue ocean strategy.*

Chapter 8

  1. What are the stages in the PLC? What are the main characteristics of each of the stages?

  2. What are the six categories of New Products?

  3. What’s the difference between a pioneer and a follower? What are some of the advantages and disadvantages of being a pioneer? and what are some of the advantages and disadvantages of being a follower? (book + reading)*

  4. What are some Strategic Marketing Programs for Pioneers?*

Chapter 9 & 10

  1. What are the key characteristics of a growth market? Mature market? Declining market?

  2. What is the primary objective of an early share leader/follower in a growth market? How can they achieve this goal?

  3. What are the strategies suggested for share leaders?

  4. What are the strategies suggested for followers?

  5. Strategies recommended in mature markets/declining markets? *



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