Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

What is the difference between marketing planning and marketing implementation?

More and more, companies are shifting their brand management focus from brand profitability toward ________.

Berman Electronics, a chain of appliance stores in North America, caters to a wide range of customers. It has a marketing organization in which different operational specialists head different marketing activities. Berman Electronics is a(n) ________.

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is known as market diversification.

How do marketers measure return on marketing investment? Why is this figure difficult to assess?

Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________.

Describe the most common forms of marketing organizations.

Modern strategic planning ________.

What is a growth-share matrix? Discuss the BCG growth-share matrix.

Which of the following is a major advantage of the market organization?

The major activity in strategic planning is product innovation.

Rob has been asked by his manager to identify a group of potential customers who would respond in a similar way to a given set of marketing efforts. In this instance, Rob has been asked to identify a ________.

Which of the following companies has a market-oriented business definition?

Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?

Which of the following companies has a product-oriented business definition?

Phoenix, a popular coffee shop chain in North America, recently opened 400 stores to cater to its rapidly increasing number of patrons. This exemplifies ________.

Each department in a company can be thought of as a link in the company's internal value chain.

The purpose of ________ is to ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan.

Why should mission statements be market oriented instead of product or technology oriented?