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Exam 2: Developing Marketing Strategies and Plans

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Question 1

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What is the traditional view of marketing?

A) Firms should just focus on production because if the products are good then they will automatically sell.
B) Firms should just focus on production and selling because marketing occurs as a part of the selling process.
C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them.
D) Firms should price their products as low as possible so that marketing them becomes easy.
E) Firms should remember that promotion is the most important of the four Ps.

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Question 2

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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.

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Question 3

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

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

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

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

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.

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.

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

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.

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?

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

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

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

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.

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 ________.

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

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

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.

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