8)In the Boston Consulting Group, agmat, -serve.) as a \"easure or em strength i
ID: 383143 • Letter: 8
Question
8)In the Boston Consulting Group, agmat, -serve.) as a "easure or em strength in the market. A) relative market share B) SBUs C) cash cows D) market growth rate E) market segmentation 9) Making more sales to current customers without changing a firm's prosducts is called A) market development B) market growth C) market penetration D) product development E) market attractiveness 10) If Under Armour, the successful maker of moisture-wicking shirts and shorts, considered introducing a line of Under Armour fitness equipment, the company would be considering A) marketing controls B) market development C) diversification D) market penetration E) product adaptation 11) The marketing concept is best thought of as which of the following? A) a guiding philosophy for the company's marketing strategy B) a specific company tactic to build relationships with customers, vendors, and suppliers C) the overall purpose of the company D) the position the company's product holds in customers' minds E) the organization of the company's marketing department 12 Eact department in a company that caries out activies to serve the customer can be the A) market development B) product development C) business portfolio D) value chain E) value delivery network 3) The process of customer-driven marketing involves product, price, promotion, and adaptation market segmentation, market targeting differantiotiExplanation / Answer
Answer to Question 8:
Relative market share indexes a firm's or a brand's market share against that of its leading competitor. Relative market share can be calculated in terms of revenues or market share. It is calculated by dividing y own brand's market share (revenues) by the market share (or revenues) of largest competitor in that industry.
IN BOSTON CONSULTING GROUP APPROACH , RELATIVE MARKET SHARE SERVES AS A MEASURE OF COMPANY’S STRENGTH IN MARKET
Answer to question 9 :
Market Growth rate is defined as the rise in sales or market size within a given customer base over a specific period of time. When a business analyses its market it requires interpreting its market growth rate. The sales growth is compared with the market growth rate.
When the sales growth is greater or equal to the market growth rate then the business is said to be performing well. The company is said to be healthy and called to be in growth phase. On the other hand when business is not doing well the sales growth will be lesser than the market growth rate in such a case the manager needs to analyse to possible reasons.
MAKING MORE SALES TO CURRENT CUSTOMERS WITHOUT CHANGING A FIRM’S PRODUCT IS CALLED MARKET GROWTH
Answer to question 10 :
Equipment is not in the same product classification as shirts and trousers. Therefore, company is indeed thinking about diversification. Diversification is a corporate strategy to enter into a new market or industry in which the business doesn't currently operate, while also creating a new product for that new market.
THE COMPANY WOULD BE CONSIDERING DIVERSIFICATION
Answer to question 11 :
The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Marketing is the means by which companies use the research and analysis of their customers to formulate strategies that build brand awareness, make offers, cross promote and convert viewers into ongoing clients
ANSWER : D) THE POSITION THE COMPANY’S PRODUCT HOLDS IN CUSTOMERS MIND
Answer to question 12 :
ANSWER : D ) VALUE CHAIN
IN BOSTON CONSULTING GROUP APPROACH , RELATIVE MARKET SHARE SERVES AS A MEASURE OF COMPANY’S STRENGTH IN MARKET
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