Exam 2: Developing Marketing Strategies and Plans

MasterCard and Visa may team up with university alumni associations to offer affinity credit cards that typically display an iconic image associated with the university on the card itself and may include an incremental donation program associated with purchases made using the card. The best description of this form of alliance would be a ________.

The ________ sphere is the number of channel levels, from raw materials to final product and distribution, in which a company will participate.

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.

Briefly list the contents of a marketing plan.

A(n) ________ market definition of a business focuses on selling a product or service to an existing market.

The key to utilizing organizational core competencies is to ________ that make up the essence of the business.

Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.

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

The traditional view of marketing is that the firm makes something and then sells it.

A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n) ________ growth strategy.

Hot Topic, a chain that sells rock-band-inspired clothes for teens, recently launched Torrid to give plus-size teens the same fashion options. Identify the three parts of the value delivery process and their function for Hot Topic.

For an MBO (management by objectives) system to work, one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

A marketing plan should open with a situation analysis.

When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________ strategy.

Pegasus writes about its target market and demographics in the ________ section of its marketing plan.

Michael Porter's value chain would identify which of the following as a support activity?

Abbot Laboratories warehouses and delivers 3M's medical and surgical products to hospitals across the United States. The best description of this form of alliance would be a(n) ________.

During the planning process, if there is a gap between future desired sales and projected sales, corporate management will need to develop or acquire new businesses to fill it. Identify and describe the three strategies that can be used to fill the strategic gap.

"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.

When a manager is trying to identify how the company can efficiently create promising new offerings, he is addressing the question of value delivery.