Question 1

The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

Accepted Answer

A)  organizational plan 
B)  strategic marketing plan 
C)  corporate tactical plan 
D)  corporate mission 
E)  customer-value statement 
A)  organizational plan 
B)  strategic marketing plan 
C)  corporate tactical plan 
D)  corporate mission 
E)  customer-value statement

Question 2

Goodwin's Grocery has decided to purchase a meat-processing plant to gain more control of its beef supply and improve its profits. Which form of integrative growth strategy has Goodwin's employed?

Accepted Answer

Goodwin's has select

Question 3

In the central role of strategic planning, only a handful of companies stand out as master marketers - Procter & Gamble, Southwest Airlines, Nike, Disney, Nordstrom, Walmart, and McDonald's to name a few. From a consumer's perspective why do you think they stand out? Explain.

Accepted Answer

From a consumer's perspective, these com

Question 4

Which of the following elements of a marketing plan permits senior management to grasp the plan's major thrust?

Accepted Answer

A)  the situation analysis 
B)  the marketing strategy 
C)  the executive summary 
D)  the financial projections 
E)  the short-term targets 
A)  the situation analysis 
B)  the marketing strategy 
C)  the executive summary 
D)  the financial projections 
E)  the short-term targets

Question 5

The new-offering realization process involves all activities in defining target markets and prospecting for new customers.

Accepted Answer

A) True 
 B)False

Question 6

The final step in the business unit strategic-planning process is strategy formulation.

Accepted Answer

A) True 
 B)False

Question 7

Another way to describe a supply chain, where companies partner with specific suppliers and distributors to ensure a smooth functioning of the system, is to call it a ________.

Accepted Answer

A)  teamwork group 
B)  horizontal integration 
C)  domestic power center 
D)  value exploration 
E)  value delivery network 
A)  teamwork group 
B)  horizontal integration 
C)  domestic power center 
D)  value exploration 
E)  value delivery network

Question 8

If Xerox Corporation defined its scope of business as "making copying equipment," it can be classified as a marketing definition.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique.

Accepted Answer

Scenario analysis consists of developing

Question 11

An environmental threat is a challenge posed by an unfavorable trend or development that, in the absence of defensive marketing action, would lead to lower sales or profit.

Accepted Answer

A) True 
 B)False

Question 12

A firm's core competency has applications only in the specific market in which the firm operates.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is an example of intensive growth?

Accepted Answer

A)  a company improves its market share with its current products in the current markets 
B)  a company enters a new market with current products 
C)  a company develops new products for its existing markets 
D)  a company improving sales by integrating backward 
E)  a company developing new products for new markets 
A)  a company improves its market share with its current products in the current markets 
B)  a company enters a new market with current products 
C)  a company develops new products for its existing markets 
D)  a company improving sales by integrating backward 
E)  a company developing new products for new markets

Question 14

The fulfillment management process includes all the activities in ________.

Accepted Answer

A)  gathering and acting upon information about the market 
B)  researching, developing, and launching new high-quality offerings quickly and within budget standards 
C)  defining target markets and prospecting for new customers 
D)  building deeper understanding, relationships, and offerings to individual customers 
E)  receiving and approving orders, shipping the goods on time, and collecting payment 
A)  gathering and acting upon information about the market 
B)  researching, developing, and launching new high-quality offerings quickly and within budget standards 
C)  defining target markets and prospecting for new customers 
D)  building deeper understanding, relationships, and offerings to individual customers 
E)  receiving and approving orders, shipping the goods on time, and collecting payment

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Sales forecasts, expense forecasts, and break-even analysis are usually found in the section on financial projections in the marketing plan.

Accepted Answer

A) True 
 B)False

Question 17

The traditional view of marketing works best in economies with many different types of people, each with individual wants, perceptions, preferences, and buying criteria.

Accepted Answer

A) True 
 B)False

Question 18

Outline the steps involved in business unit strategic-planning process.

Accepted Answer

Students should describe (in o

Question 19

Which of the following statements is true of marketing plans?

Accepted Answer

A)  They can be independently developed without worrying about other functional areas. 
B)  They provide direction and focus for a brand, product, or company. 
C)  They are usually profit-oriented. 
D)  They are of limited use to nonprofit organizations. 
E)  They are typically five-year plans and they lay out the strategies required to achieve targets in those five years. 
A)  They can be independently developed without worrying about other functional areas. 
B)  They provide direction and focus for a brand, product, or company. 
C)  They are usually profit-oriented. 
D)  They are of limited use to nonprofit organizations. 
E)  They are typically five-year plans and they lay out the strategies required to achieve targets in those five years.

Question 20

Good marketing is the art of finding, developing, and profiting from marketing opportunities. What are the three primary methods for uncovering possible product or service improvements?

Accepted Answer

Methods for uncovering possible product

Exam 2: Developing Marketing Strategies and Plans

The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

Goodwin's Grocery has decided to purchase a meat-processing plant to gain more control of its beef supply and improve its profits. Which form of integrative growth strategy has Goodwin's employed?

In the central role of strategic planning, only a handful of companies stand out as master marketers - Procter & Gamble, Southwest Airlines, Nike, Disney, Nordstrom, Walmart, and McDonald's to name a few. From a consumer's perspective why do you think they stand out? Explain.

Which of the following elements of a marketing plan permits senior management to grasp the plan's major thrust?

The new-offering realization process involves all activities in defining target markets and prospecting for new customers.

The final step in the business unit strategic-planning process is strategy formulation.

Another way to describe a supply chain, where companies partner with specific suppliers and distributors to ensure a smooth functioning of the system, is to call it a ________.

If Xerox Corporation defined its scope of business as "making copying equipment," it can be classified as a marketing definition.

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

Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique.

An environmental threat is a challenge posed by an unfavorable trend or development that, in the absence of defensive marketing action, would lead to lower sales or profit.

A firm's core competency has applications only in the specific market in which the firm operates.

Which of the following is an example of intensive growth?

The fulfillment management process includes all the activities in ________.

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

Sales forecasts, expense forecasts, and break-even analysis are usually found in the section on financial projections in the marketing plan.

The traditional view of marketing works best in economies with many different types of people, each with individual wants, perceptions, preferences, and buying criteria.

Outline the steps involved in business unit strategic-planning process.

Which of the following statements is true of marketing plans?

Good marketing is the art of finding, developing, and profiting from marketing opportunities. What are the three primary methods for uncovering possible product or service improvements?

Defining Marketing for the New Realities

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

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