Exam 3: Planning, Implementing and Evaluating Marketing Strategy

Customer relationship management strives to build satisfying exchange relationships between buyers and sellers by gathering useful data at all customer-contact points.

Suppose a customer calls Breeana's office at Smith's in Sydney.The customer has a friend in Perth who was just telling her about a new snack Smith's has introduced that is selling rapidly.Breeana's office does not market this product and at the present knows very little about it.Based on this information, this firm is most likely organised according to which of the following?

The Aussiepit Barbecue Corporation (ABC) has conducted a SWOT analysis of its competition and sees a marketing opportunity for its new restaurant.It has developed its marketing plan to include the type of products it will sell, restaurant location, and pricing.The ABC plan includes a marketing objective to make a profit of 5 per cent the first year of operation.Thus far, which key piece of the marketing plan have ABC's owners not included?

A competitive advantage exists when a:

Resource deployment and coordination of functional areas of business are determined by:

To formulate a marketing strategy, one must:

__________ strategy determines the means for utilising resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organisation's goals.

For marketing implementation to be successful, the needs of __________ customers must be met.

Which of the following statements is incorrect?

A firm that truly adopts the marketing concept develops a distinct organisational culture based on a shared set of beliefs that makes __________ the pivotal point of the firm's decisions about strategy and operations.

A mission statement is a long-term view, or vision, of what the organisation wants to become.

The most specific and detailed type of business strategy is a __________ strategy.

A firm's _________ addresses the questions 'Who are our customers?' and 'What is our core competency?'

University students represent Travel Bug's __________, and its tours represent the __________ element of the marketing mix.

An appliance manufacturer that sells to large retail stores, wholesalers and institutions would probably organise its marketing unit on the basis of:

If you were a marketing manager, under which type of organisational structure would you most likely be working if your firm were a large business with centralised marketing operations?

Dylan, a 17-year-old secondary school student, wants to buy a pack of cigarettes.He has the money to purchase them, but he is still not considered to be a market for the product due to his lack of __________ to buy.

Procter & Gamble, like many firms in the consumer packaged-goods industry, is organised by:

Products that have a relatively low market share and low prospects for growth are considered to be __________ by the Boston Consulting Group.

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