HFT 2500 ch 3

The example of the Las Vegas Hiltons change in strategic focus underscores how companies are increasingly refocusing their attention on the need to manage _________ instead of departments.
Processes
__________ growth makes sense when good opportunities can be found outside the present businesses.
Diversification
Studies have shown that a well-crafted mission statement aids a firm’s performance, as the mission statement serves as a statement of:
Purpose
Most large companies consist of four organizational levels: corporate, division, business unit, and:
Product
___________ is the marketing logic by which the company hopes to create customer value and achieve profitable relationships.
Marketing strategy
Companies that diversify too broadly into unfamiliar products or industries can ________ their market focus.
lose
T/F A company starts the strategic planning process at the customer level by defining its values statement and mission.
False
T/F Market penetration refers to the strategy of creating new products to sell to small niche markets.
False
T/F A business portfolio is the collection of businesses and products that make up the company.
True
“Project RED” was the name given to the long-term strategy of which restaurant chain?
Red Robin
Selecting one or more market segments to enter is part of:
Market targeting
T/F A company’s mission statement should provide direction for the company for no more than five years at a time.
False
T/F Mission statements should be realistic and general in nature.
False
When hotel chains enter such markets as the retirement home industry they are practicing which type of strategy?
Conglomerate diversification
According to the Ansoff product-market expansion grid, management should first consider whether:
It should gain more market share with its current products in their current market.
The process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior and might require separate products or marketing programs is called
Market segmentation
A hotel company acquiring a tour operator is an example of:
Forward integration
The number of channel levels from raw materials to final product and the distribution in which the company will engage is an example of __________ slope
Vertical
T/F An internal environmental analysis is essentially a strengths and weaknesses analysis.
True