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Exam 2: Developing Marketing Strategies and Plans

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Question 71

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When a firm aims to underprice competitors and win market share, it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies.

A) product differentiation
B) overall cost leadership
C) focus
D) domestic customer relationship
E) price skimming

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Question 72

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Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.

A) core competencies
B) infrastructure
C) market-sensing processes
D) fulfillment management processes
E) outbound logistics

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Question 73

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Amber oversees the activities at a consumer packaged goods firm that include researching, developing, and launching new, high-quality shampoos, quickly and within budget. With which process is her job most closely aligned?

A marketing plan is evaluated on the basis of how simple, specific, realistic, and complete it is.

If a company sought to grow by starting new businesses that have no relation to its current technology, products, or markets, the company would be using a market penetration strategy.

Mission statements are at their best when they reflect a ________.

Juan Garcia plans the daily promotional releases about his company's products and services. He can be described as a(n) ________ planner.

Briefly summarize the two views of the value delivery process that may be followed by organizations.

Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

"Enriching Women's Lives" is a three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission statements?

Which of the following is an example of growth by diversification?

Most large companies consist of four organizational levels: the corporate level, the ________ level, the business unit level, and the product level.

For an MBO (management by objectives) system to work, one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

When one company licenses another to produce its offerings, or two companies jointly market their complementary offerings, it is called a ________.

MasterCard and Visa may team up with university alumni associations to offer affinity credit cards that typically display an iconic image associated with the university on the card itself and may include an incremental donation program associated with purchases made using the card. The best description of this form of alliance would be a ________.

A principle of the value chain is that every firm is a synthesis of activities performed to design, produce, market, deliver, and support its product.

A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n) ________ growth strategy.

The marketing plan, the central instrument for directing and coordinating the marketing effort of a company, operates at the ________ levels.

What questions would typically be asked during a market opportunity analysis (MOA)?

What is the second phase of the value creation and delivery sequence?