BUS2 130, Exam 1, SJSU Questions and Answers(A+ Solution guide)
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Course
BUS2 130SJSU
Institution
BUS2 130SJSU
BUS2 130, Exam 1, SJSU
Drawbacks of portfolio planning include what? - ️️Difficult to execute, time
consuming, and costly to implement;
Hard to define SBUs and the measurement of relative market share and growth;
Helpful for classifying current business. They offer little or no advice for f...
BUS2 130, Exam 1, SJSU
Drawbacks of portfolio planning include what? - ✔️✔️Difficult to execute, time
consuming, and costly to implement;
Hard to define SBUs and the measurement of relative market share and growth;
Helpful for classifying current business. They offer little or no advice for future planning
Customer Equity - ✔️✔️The sum of the lifetime values of all a company's current and
potential customers. companies must manage it carefully, and view customers as
assets that need to be maximized.
It is dependent upon customer loyalty from a firm's profitable customers.
It is a reflection of a company's future.
What is the overall plan for marketing strategy? - ✔️✔️segmentations, targeting,
positioning
Psychogenic Needs - ✔️✔️needs learned in the process of enculturation (belonging,
self expression, knowledge acquisition, etc)
Wants - ✔️✔️options used to fill needs
Demands - ✔️✔️wants backed by consumer buying power.
In order to acquire new customers, companies must consider: - ✔️✔️the values of
customers and the acquisition of costs
the current value of a customer is a complex formula that includes: - ✔️✔️Gross profit
(revenue-costs of goods sold);
Cost of maintaining customer;
Discount rate (considered for each year of expected revenue from that customer); Cost
of acquiring new customers
Strategic Planning - ✔️✔️The process of developing and maintaining a strategic fit
between the organization's goals and capabilities and changing marketing opportunities
, Mission Statements - ✔️✔️Lead to setting business and marketing objectives/goals,
and guide decisions regarding what portfolio of businesses and products is best for the
company.
What does business planning entail? - ✔️✔️Current portfolio analysis, followed by
decisions about what businesses should receive more, less or no investment;
Planners shape the future portfolio by developing strategies for growth and/or
downsizing
Marketing's role within a firm - ✔️✔️Marketing should be a profitable investment that
forces business to confront uncertainty in the environment, like
changes in consumer tastes or
changes in regulations.
What are business portfolios developed in support of? - ✔️✔️Business portfolios are
developed in support of its strategic goals
what are the four categories in which SBUs travel through the BCG? - ✔️✔️Question
Marks: High growth, low share;
Stars: high growth, high share products;
Cash cows: low growth, high share;
Dogs: low growth, low share
How may companies determine the future? - ✔️✔️Companies can determine the
future, using strategies of building, holding, harvesting, or divesting each SBU.
Strategies for Growth - ✔️✔️Market penetration: making more sales to current
customers without changing products;
Market development: identifying and developing new markets for a company's products;
Product develop: offering modified or new products to current markets;
Diversification: companies consider acquiring or starting new businesses unrelated to
their core competencies
The strategic marketing process PLANNING PHASE includes - ✔️✔️Situational SWAT
analysis; Market-Product Focus and Goal Setting (targeting and positioning); Program
of the 4 Ps.
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