MULTIPLE CHOICES ?????????? 4. The firm you work for has decided to use the Bost

Question

MULTIPLE CHOICES

?????????? 4. The firm you work for has decided to use the Boston Consulting Group's (BCG's) approach to classify its business units. Upon what is the approach based? a. most profitable units c. customer retention b. growth-share matrix d. cost benefits 5. Michael's Motors has decided to pursue a market development strategy whereby it will offer products to markets a. new or modified, new new or modified; current c. d. current, current 6. Which SBU produces a lot of cash that the company may use to support other SBUs that need investment? a. stars b. cash cows c. question marks d. dogs 7. Most large companies resrch buying decisions to find out what they buy, where they buy, how and how much they buy, when they buy, and why they buy market c. consumer d. social 8. The marketer wants to understand how the stimuli are changed into responses inside the consumer's influence how he or she perceives and reacts to the stimuli. Second, the buyer's decision process itself affects the buyer's behavior which has two parts. First, the buyer's characteristics b. black box a. culture c. belief d. lifestyle 9. The buyer decision process includes all of the following EXCEPT a. need recognition c. variety-seeking buying behavior d. purchase decision b, information search 10. Pat thought he had received a great deal on his new Martin guitar. Shortly after the purchase, Pat started to notice certain disadvantages of his new guitar as he learned more about other guitars available. Pat is experiencing a. post-purchase culture c. post-purchase dissonance b. perception d. purchase decision 11. Xeries Computer Software has recently been using the product/market expansion grid. Xeries has found it to be quite useful for identifying a. target markets c. key customers b. growth opportunities d. new products 12. According to the studies of Ernst Engle, as incomes rise people spend a percentage on food than before a. higher c. lower b. d. much higher about the same 2/8

Explanation / Answer

Question 4

According to the Boston Consulting Group (BCG) approach, business units of a firm can be classified on the basis of their respective market share and growth potential.

This approach takes in to account market share and growth rate and hence is also referred to as growth-share matrix.

Hence, the correct answer is the option (b).

Question 5

Market development strategy is a strategy used by the firm under which it tends to develop new markets for its current product offerings.

In other words, when a firm offers its current product to new market segments, it tends to be following market development strategy.

Hence, the correct answer is the option (b).

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