Exam 2: Developing Marketing Strategies and Plans

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

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Question 1

Correct Answer:

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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.

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Question 2

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The first phase, choosing the value, represents the "homework" marketing must do before any product exists. The second phase, providing the value, is where product features, prices, and distribution are selected. The third phase, communicating the value, utilizes the sales force, sales promotion, advertising, and other communication tools to announce and promote the product.

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

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Question 3

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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?

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Question 4

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

(True/False)

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Question 5

Microsoft features Pepsi in its XBox 360 games. The best description of this form of alliance would be a(n) ________.

(Multiple Choice)

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Question 6

The ________ is the last section of the marketing plan and spells out the goals and budget for each month or quarter, so management can review each period's results and take action as needed.

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Question 7

Briefly summarize the contents of a marketing plan.

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Question 8

Marketing plans are becoming more production oriented because of the high costs of doing business in today's economy.

(True/False)

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Question 9

AsiaCorp is one of the best in its industry in terms of costs and performance. Many companies in its industry will probably consider AsiaCorp as a ________.

(Multiple Choice)

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Question 10

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).

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Question 11

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

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Question 12

Which of the following elements of a marketing plan permits senior management to grasp the organization's main goals and recommendations?

(Multiple Choice)

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Question 13

What are hollow corporations?

(Multiple Choice)

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Question 14

A business that concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market is following a differentiation strategy.

(True/False)

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Question 15

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

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Question 16

A strategic-planning gap can be corrected by ________.

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Question 17

Critics of Nike often complain that its shoes cost almost nothing to make, yet they are priced so high. Identify the elements of providing and communicating value that add to Nike's cost structure and result in the high price of Nike shoes.

(Essay)

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Question 18

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

(Multiple Choice)

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Question 19

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.

(True/False)

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Question 20

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Exam 2: Developing Marketing Strategies and Plans

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

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.

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

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?

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

Microsoft features Pepsi in its XBox 360 games. The best description of this form of alliance would be a(n) ________.

The ________ is the last section of the marketing plan and spells out the goals and budget for each month or quarter, so management can review each period's results and take action as needed.

Briefly summarize the contents of a marketing plan.

Marketing plans are becoming more production oriented because of the high costs of doing business in today's economy.

AsiaCorp is one of the best in its industry in terms of costs and performance. Many companies in its industry will probably consider AsiaCorp as a ________.

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).

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

Which of the following elements of a marketing plan permits senior management to grasp the organization's main goals and recommendations?

What are hollow corporations?

A business that concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market is following a differentiation strategy.

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

A strategic-planning gap can be corrected by ________.

Critics of Nike often complain that its shoes cost almost nothing to make, yet they are priced so high. Identify the elements of providing and communicating value that add to Nike's cost structure and result in the high price of Nike shoes.

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

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.

Defining Marketing for the 21st Century

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

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

Managing Personal Communications: Direct Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization for the Long Run

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