Exam 2: Planning, Implementing, and Evaluating Marketing 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.

Y ou are writing an Environmental Analysis  for the marketing plan for your company. You were given the following master list of environmental factors that should be addressed in the plan: Foreign exchange rates Trade policy Population growth rates Tax policy Environmental regulations Production automation trends Health and medical trends You are responsible for the subsection dealing with political and regulatory factors that will impact your company's marketing strategies. Which of the factors from the master list of environmental factors will you include in your subsection?

A firm's unique symbols, personalities, and philosophies comprise its

Rollins Steel Corporation, a leader in industrial supplies, has identified its auto battery unit as having a dominant market share; however, it has low prospects for growth. The unit currently generates more cash for Rollins Steel than is required to maintain its market share. According to the Boston Consulting Group, the auto battery unit would be classified as a _____

A core competency is something a firm does extremely well-sometimes so well that it gives the company an advantage over its competition.

Which of the following is a characteristic of a marketing objective?

Zingerman's Deli operates seven retail stores throughout the city. It plans to develop a new marketing plan to extend its number of stores and operating hours. In developing this marketing plan, it has asked its employees for feedback on the changes it plans to makes. In this case, the employees are Zingerman's ____ customers.

When Disney World wants to have at least 90 percent of its customers indicating they had a memorable and satisfying experience at the park hotels, this is an example of

Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted upon properly are called

A marketing plan

A market is a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase these products.

SUP ATX is the largest stand-up paddle board maker based in Austin, Texas, that markets their products directly to consumers via their website. SUP ATX mission is to spread the sport of stand up paddle surfing from oceans to lakes and rivers around the world. Stand up paddle surfing or boarding is a relatively new sport but is growing due to the relatively low price of the boards, ease in transportation and storage of the boards as well as the sport providing a fun way to exercise and allow users to enjoy the outdoors. Which of the following would be the "best" target market for SUP ATX paddle board products?

Marketing objectives state what is to be accomplished through marketing activities.

The American Eagle chain of retail stores has a reputation as one of the "coolest" brands according to Teen Research Unlimited. Their stores feature quality merchandise, the latest trends, must-have styles, and the hottest deals for its shoppers. The retail stores are typically found in shopping malls across the country and are comfortable places to shop-featuring interesting displays, pop music, bright lights, and attractive displays. American Eagle's selection of denim is the most popular product appealing to both genders and has helped them achieve double-digit growth. Which of the following would most likely be the "best" target market for American Eagle?

An analysis of ____ examines internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

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 market opportunity results from

When managers at Logistics Pro are developing their strategic plan, they use a market orientation as a guide to ensure that ____ is an integral part of the process.

Apple has made a success from anticipating what consumers would want in new technological advances, convenience, and ease of use. The introduction of the iPad was an example of a _____ for Apple, something that an organization does extremely well and may give a company an advantage over its competition.

Scenario 2.2 Use the following to answer the questions. EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to promote to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company. Refer to Scenario 2.2. The fact that college enrollments have been increasing at a fast rate the past few years is an example of ____ and creates a ____ for EXperience Limited.