Exam 2: Developing Marketing Strategies and Plans

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

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

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

Describe the characteristics a core competency should possess.

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

A strategy is a game plan for achieving what the business unit wants to achieve.

When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________.

Over the past 10 years, Cisco Systems has drastically reduced its number of suppliers and aligned itself more closely with its remaining suppliers for each of its product-based teams. How might this have helped Cisco improve its new-offering realization process?

Which of the following can be considered a primary activity in the value chain process?

Marketing goods that are currently in short supply would require significant marketing talent.

Which of the following is one of the five major characteristics of good mission statements?

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.

Of the four organizational levels, the corporate level is likely to take which of the following decisions?

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.

To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage strategic alliances as core skills. This is called ________.

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?

McDonald's has often teamed up with Disney to offer products related to current Disney films as part of its meals for children. The best description of this form of alliance would be a(n)________.

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

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?

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.