Exam 2: Developing Marketing Strategies and Plans

Core competencies tend to refer to areas of special technical and production expertise,whereas ________ tend to describe excellence in broader business processes.

________ allows the company to discover who its customers are,how they behave,and what they need or want.It also enables the company to respond appropriately,coherently,and quickly to different customer opportunities.

Through its cutting-edge point-of-sale inventory management technology and highly efficient shipping practices,Wal-Mart is able to keep its inventory and logistics costs extremely low and to pass these cost savings on to consumers in the form of low prices.Wal-Mart's strategy is best described as ________.

As the marketing manager for a small regional toy manufacturer,what three strategic marketing processes would you use to choose the value of your offer?

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)________ strategy.

Assume that you are directed to prepare a short brief explaining the steps of the Business Unit Strategic Planning Process.Your task is to construct such a brief by carefully outlining the steps of the aforementioned process.

Characterize a marketing plan.

In the online air travel industry,Travelocity is pursuing a(n)________ strategy by offering the most comprehensive range of services to the traveler.

James Franks has been put in charge of gathering marketing intelligence,disseminating it within his organization,and eventually directing action on the information.Mr.Franks' task is best described as part of the ________.

For an MBO system to work,the business unit attempting to implement the process must meet four criteria.What are those criteria?

In a hypercompetitive economy such as ours,a company can win only by fine-tuning the value delivery process and choosing,providing,and ________ superior value.

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

Once a SWOT analysis has been completed,the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

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

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.

In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features,promotion,merchandising,pricing,sales channels,and service areas?

Which of Michael Porter's generic strategies would be most appropriate for an organization that concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market?

Another way to describe a value delivery network (partnering with specific suppliers and distributors)is to call it a ________.

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.

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.