Exam 2: Developing Marketing Strategies and Plans

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.

Once Starbucks had established its presence in thousands of cities internationally, the company sought to increase the number of purchases by existing customers with a ________ strategy that led to new in-store merchandise, including compilation CDs and high-speed wireless access.

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.

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

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

Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction and identify when a company can claim that it has a 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.

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

Which of the following statements is true of marketing plans?

What are hollow corporations?

Identify the elements of a tactical marketing plan for a new kind of cola.

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

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

A marketing plan is evaluated on the basis of how simple, specific, realistic, and complete it is.

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

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).

The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.

The task of any business is to ________.

________ has three characteristics: (1)it is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits; (2)it has applications in a wide variety of markets; and (3)it is difficult for competitors to imitate.

Unlike its competitors in the online air travel industry, Travelocity provides its customers with a greater variety of services such as cruise reservations, package tours, hotel bookings, and car rentals. This is an example of a(n)________ strategy.