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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 61

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Every summer,university administrators attempt to estimate how many students will show up in the fall.When August arrives,they hire part-time instructors and reassign faculty to teach the courses students want.In the spring,administrators often go on a retreat to consider how to do things differently next year.What phase of the strategic planning process do they engage in during each of the three seasons (summer,fall,and spring)?

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Summer-planning; fal...

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Question 62

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The first objective in the evaluate performance phase of the marketing planning process is to

A) determine whether to raise or lower prices.
B) adjust advertising allocations.
C) find ways to cut costs.
D) review implementation programs and results using metrics.
E) consider changing the target market.

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Question 63

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As the text states,"Firms typically are most successful when they focus on opportunities that build on their strengths relative to those of their competition." Using the automobile industry in the United States,describe an example of this type of positioning strategy.

Abercrombie & Fitch,a clothing retailer,includes a "SHARE" link on the product pages of its website.This link encourages an Abercrombie customer to post a link (perhaps showing a new style of jeans) on Facebook or Twitter.Abercrombie & Fitch hopes that the customer's friends (who are probably very much like current customers) will click the link,visit the page,and make purchases.This is an example of a __________ growth strategy.

A competitive advantage based on location is often sustainable because

Firms achieve ___________ through efficient procedures and excellent supply chain management.

Firms are typically more successful when they focus on opportunities that build on their strengths relative to those of their competition.

Because it was able to deliver merchandise overnight,in the required quantities and at a lower delivered cost than its competitors,Joe's Sports Shack was given exclusive rights to sell clothing with school logos for the school district.Joe's demonstrates ________ excellence.

Subway is a large chain of franchise sandwich shops.Marcia owns three Subway stores in a large city.At the end of the year,she notes that sales rose from 2 to 5 percent over last year's sales at Stores 1 and 2,but fell 2 percent at Store 3.Based on this information,which of the following is the best course of action as to how Marcia should reward (or punish) her store managers?

Your new sales manager,who previously worked for Boston Consulting Group,directs each sales rep to "toss out the dogs," "exploit the stars," and "milk the cows." Translate this into everyday English: What is the sales manager asking the sales reps to do?

Zara is a women's clothing retailer headquartered in Spain,with stores located in many countries.Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences.Every aspect of Zara's operation is optimized for this system,making it difficult for competitors like The Gap to duplicate.Zara has established

It is not always necessary to go through all the steps in the marketing planning process.

Most banks now have customer relationship software that,when a customer contacts the bank,tells the service representative what types of accounts,loans,and credit cards the customer currently has.Service representatives use this information to sell some of the other services the bank currently offers to these customers.This is a ___________________ growth strategy.

When pursuing a market development strategy,expanding into international markets is generally

The automobile manufacturing industry closely watches annual consumer satisfaction surveys.For years,Japanese car companies consistently had the highest levels of customer satisfaction,creating a(n) ________ for these companies.

Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero.It has chosen to attempt to appeal to men with Coke Zero.In addition to launching an ad campaign featuring men enjoying Coke Zero,Coca-Cola also designed a masculine-looking can for Coke Zero,with bold red lettering on a black background.This specially designed can is an example of

For years,when considering new products,marketers at Celestial Seasonings asked themselves,"What would Stacy think?" Stacy was a fictional character representing 25- to 50-year-old educated,upper-income women who rarely watched television but did a lot of reading."Stacy" represented Celestial's primary

When marketers use a variety of communication disciplines-advertising,personal selling,sales promotion,public relations,direct marketing,and online marketing-in combination to communicate a value proposition to the customer,it is referred to as

Some banks have begun offering special accounts designed to attract junior high school students.These kids save in such small amounts that the accounts cost banks more to maintain than they are worth.But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers.These banks recognize

A former advertising campaign for GEICO Insurance used the slogan "So easy,even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website.This campaign was part of GEICO's