Exam 2: Developing Marketing Strategies and Plans

________ 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.

Market-penetration,product-development,and market-development strategies would all be examples of ________ strategies.

The key to utilizing organizational core competencies is to ________ that make up the essence of the business.

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

During Jill's market research study,many customers indicated that traditional oven mitts made it very difficult to hold baking dishes,resulting in frequent spills.Jill brought her findings to the research department,and her company leveraged its engineering and design competencies to develop a new hand-held hot-pad that allows for significantly greater dexterity in handling hot cooking implements,while protecting the cook from burns.This is an example of the ________ element of the holistic marketing framework.

The traditional view of marketing works best in economies with many different types of people,each with individual wants,perceptions,preferences,and buying criteria.

Another way to describe a supply chain,where companies partner with specific suppliers and distributors to ensure a smooth functioning of the system,is to call it a ________.

The traditional view of marketing is that the firm makes something and then sells it.

As Kodak addresses the digital revolution taking over the photographic industry,it wants customers to see it as a leader in digital photography.Thus,it is moving away from the production of film roll cameras.This would be an example of which of the following value creation steps?

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).

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 ________.

The last step in the value creation and delivery sequence is ________ the value where the sales force,sales promotion,advertising,and other communication tools announce and promote the product.

Sales forecasts,expense forecasts,and break-even analysis are usually found in the section on financial projections in the marketing plan.

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.

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

Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique.

Which of the following is an example of growth by diversification?

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

Micheal Porter's value chain would identify which of the following as a support activity?

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.