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Exam 2: Elements of Marketing Strategy and Planning

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Question 41

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Define value chain.

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Synthesis of activities involved in desi...

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Question 42

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Describe the concept of the value chain.Who created the idea?

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Michael Porter created the value chain c...

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Question 43

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What is the difference between goals and objectives?

The Sarbanes-Oxley Act of 2002 established specific procedures to ensure ethical conduct at the highest levels of the company, including the Board of Directors.

Strategy has two key phases: planning and execution.

What are the support activities of the value chain?

The price of a barrel of oil has varied dramatically in the last few years.When the price of oil is high, automobile drivers look to find ways to drive less.An examination of this issue would be in the ____________ section of the marketing plan.

Marta, a partner of Apex Corp., a business solutions consulting firm, has a client who is creating its first marketing plan.The client needs a marketing plan template.What standard items would be included that Marta would give her client?

The best place in a SWOT analysis to identify problems with hurricanes, earthquakes, major snowfalls and other natural phenomena is ___________________.

The Green Scene Co., a struggling start-up firm, has a environmentally friendly pesticide that is approved for use by commercial organic farmers.The pesticide is made from all natural ingredients and has great potential.A small investment firm has injected cash in Green Scene.Mostly likely the investment firm views Green Scene as a _________.

Shabreka likes to shop in a designer boutique located in a city 30 miles from her home.This store offers _________ utility.

Great Skate skateboarding parks' marketing team wants to stay open until 3:00 a.m.The parks currently close at midnight.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.

Ajax Corp.has a subsidiary, Ajax TV Products, which makes cable television converter boxes.This division has provided the parent company with a steady revenue stream for over thirty years.It is expected to continue its contribution to revenue as more consumers adopt its newest product, digital video recorders.Ajax TV Products most likely would be classified as a ____________.

JBW Recording Company plans to close down a division that makes classical music cassette tapes.The demand for this type of recording has dwindled to the point that the cassette division is barely at break even in terms of revenue.Mostly likely the cassette division would be classified as a ____________.

Rush Express, a North American delivery service, wants to expand service into South America.This is classified as ___________ in Ansoff's Product-Market Matrix.

Enrico pays a market rate to take his young children to daycare that is run by his employer.It is open until 9:00 p.m., a time by which everyone leaves.This service offered by his company offers ________________ utility.

Contingency plans should include ___________________.

What are the various issues that would be included in the Natural Environmental factors of a marketing plan?

The concept of the value chain was created by ___________.

Scott is a plumbing fixture manufacturer's representative.He sells to wholesalers, homebuilders, and retailers.His marketing plan calls for going to four trade shows a year.He recently found out that there would be a new Home Show aimed at consumers in his territory and he wants to attend.His boss says "Go for it!" The boss is reflecting the concept of _________ in successful marketing planning.