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Exam 2: Developing Marketing Strategies and Plans

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Question 1

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Which of the following is one of the five major characteristics of good mission statements?

A) They focus on a large number of goals.
B) They expand the range of individual employee discretion.
C) They define the major competitive spheres within which the company will operate.
D) They take a short-term view.
E) They are long and comprehensive to ensure that all critical concepts are included.

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Question 2

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With respect to the core business processes,the ________ includes all the activities involved in developing,and launching high-quality products quickly and within budget.

A) market-sensing process
B) new-offering realization process
C) fulfillment management process
D) customer acquisition process
E) customer relationship management process

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Question 3

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The marketing plan is the central instrument for directing and coordinating the marketing effort.

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

What is the traditional view of marketing?

Apex Corporation is one of the best in its industry in terms of costs and performance.Many companies in its industry will probably consider Apex as a ________.

A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.

Good mission statements should be long and clear,should emphasize on a wide range of goals,and stress on the company's major policies and values.

A(n) ________ is when a company might seek new businesses that have no relationship to its current technology,products,or markets.

After analyzing their company's strengths and weaknesses,top managers at Loan Bright decided that they would serve individual loan officers who typically only wanted to purchase small sets of homebuyer data,rather than bigger institutional clients.To meet the needs of this segment,Loan Bright simplified its sales contract,restructured its advertising efforts to focus on Google ads,and created a separate customer-service department.Loan Bright's strategy is best described as a(n) ________ strategy.

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

Which of the following terms can be defined as "the shared experiences,stories,beliefs,and norms that characterize an organization"?

Firms directing the same strategy to the same target market constitute a strategic group.

The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.

An intensive growth strategy involving marketing current products to new markets is a market-development strategy.

With respect to core business processes,the ________ includes all the activities involved in gathering external information,disseminating it within the organization,and acting on the information.

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.

Which of the following plans would most likely include directions for implementing and addressing daily challenges and opportunities in product features,promotion,merchandising,pricing,sales channels,and service areas?

While viewing businesses in terms of customer needs can suggest additional growth opportunities,a ________ tends to focus on selling a product or service to a current market.

The customer relationship management process involves all the activities related to receiving and approving orders,shipping the goods on time,and collecting payment.