Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

An organization's goals focus on the end results the organization seeks.

High Gliding Air Academy is developing its marketing mix for the coming year. Its managers know that they must first select ____ which may be the most important decision they make in the planning process.

A marketing objective need not be consistent with the firm's overall objectives.

A firm's organizational mission should be derived from its goals.

According to the Boston Consulting Group, marketers may classify their products as all of the following except

Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are

Emma is responsible for developing and implementing the marketing plan for a new type of walking shoe targeted toward older women. Her responsibility includes making sure that the production and deliveries to the retail stores are coordinated for this new product. In order for the marketing implementation to be successful, Emma should be sure the needs of ____ customers are met.

A group that has the willingness, ability, and authority to buy a product is a

A marketing objective should be expressed in clear, simple terms; be _____________; specify a time frame for completion; and ensure the marketing objective is _____________ with both business-unit and corporate strategies.

Kraft purchased the Duracell Battery Company and now operates this division as a separate profit center within the firm. In this example, Duracell is a(n) ____ unit of Kraft.

The Texas Pitt Barbecue Corporation has conducted a SWOT analysis of its competition and sees a marketing opportunity for its new Texas Pit Barbecue restaurant. It has developed its marketing plan to include the type of products it will sell, the location for the restaurant, and the pricing it will use. Their plan includes a marketing objective to make a profit of 5% the first year of operation. So far, the owners of the restaurant have eliminated a key piece of the marketing plan, which is ____.

A SWOT analysis focuses on an organization's:

Which of the following statements about the marketing mix is incorrect?

Safeway Foods Corporation is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Safeway is creating a

You asked your stockbroker to consider buying some shares of Facebook, Inc. for your investment account. But first you want to review the summary points in the SWOT analysis the stockbroker's firm did on the company. The following summary points were listed in the SWOT analysis: Facebook has a reputation as a market leader and it is quickly establishing a formidable brand loyalty among its users. Because of its position in the industry, it risks incurring high costs associated with creating and marketing new products that are designed to perpetuate its industry leadership. These summary points suggest

Which of the following is the most specific and detailed type of business strategy?

In the strategic planning process, marketers conduct their SWOT analyses before developing corporate and business-unit strategies.

Seamus O'Leary runs the marketing department of a large electronics firm. This firm operates in an extremely competitive business environment. Seamus wants to ensure that he is involved in all the daily decisions and that there is a clear chain of communication between himself and his marketing employees. He believes that his extensive marketing experience makes him the best person for making all the major marketing decisions. Seamus believes all employees should act together as a cohesive unit and know their roles. Under Seamus O'Leary, the marketing department most likely has a _______________ structure.

Which of the following is true about the development of a marketing plan?

Because of its highly efficient and low-cost distribution system, Walmart has a ____ advantage over Kmart.