Question 1

Explain what happens in a SWOT analysis during the strategic planning process.

Accepted Answer

Several competitive spheres are mentioned in the chapter (e.g.,industry,products and applications,competence,market segment,vertical,and geographical).The sphere most appropriate in both cases is market segment.

Question 2

To guide implementation effectively, every part of the plan must be described in considerable detail.

Accepted Answer

A) True 
 B)False  True

Question 3

Once an organization has established a business mission in its business unit strategic-planning process, it may proceed to the second step of the planning process called goal formulation.

Accepted Answer

A) True 
 B)False  False

Question 4

Marketing plans are becoming more production-oriented because of the high costs of doing business in today's economy.

Accepted Answer

A) True 
 B)False

Question 5

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.

Accepted Answer

A)  reversing 
B)  distributing 
C)  developing 
D)  researching 
E)  communicating 
A)  reversing 
B)  distributing 
C)  developing 
D)  researching 
E)  communicating

Question 6

When Yahoo! began to flounder in the 2001, CEO Terry Semel imposed a more conservative, buttoned-down atmosphere on the freewheeling Internet startup. At the new Yahoo!, spontaneity is out and order is in. What term is most closely applied to the organizational change phenomenon described above? Be sure to explain what the term means with respect to the example provided.

Accepted Answer

The correct term would be corp

Question 7

If Canadian retailer, HBC, seeks to be a more holistic marketer, it should achieve profitable growth by expanding ________, building customer loyalty, and capturing customer lifetime value.

Accepted Answer

A)  customer share 
B)  promotion venues 
C)  database resources 
D)  design skills 
E)  competitive space share 
A)  customer share 
B)  promotion venues 
C)  database resources 
D)  design skills 
E)  competitive space share

Question 8

Holistic marketers achieve profitable growth by expanding customer share, ________, and capturing customer lifetime value.

Accepted Answer

A)  inspecting all market share data 
B)  undermining competitive competencies 
C)  building customer loyalty 
D)  milking the market for product desires 
E)  renewing a customer base 
A)  inspecting all market share data 
B)  undermining competitive competencies 
C)  building customer loyalty 
D)  milking the market for product desires 
E)  renewing a customer base

Question 9

One of the four major categories of strategic alliance involves sharing personnel (e.g., human resource alliance) to staff alliance member marketing departments.

Accepted Answer

A) True 
 B)False

Question 10

While viewing businesses in terms of customer needs can suggest additional growth opportunities, a ________ tends to focus on selling a product or service to a current market.

Accepted Answer

A)  target market definition 
B)  strategic market definition 
C)  cognitive definition 
D)  product definition 
E)  tactical definition 
A)  target market definition 
B)  strategic market definition 
C)  cognitive definition 
D)  product definition 
E)  tactical definition

Question 11

Holistic marketers achieve profitable growth by expanding customer share, building customer loyalty, and

Accepted Answer

A)  training a stronger sales force. 
B)  mirroring the competition. 
C)  building better products. 
D)  increasing production capacity. 
E)  capturing customer lifetime value. 
A)  training a stronger sales force. 
B)  mirroring the competition. 
C)  building better products. 
D)  increasing production capacity. 
E)  capturing customer lifetime value.

Question 12

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

Accepted Answer

A)  marketing strategy 
B)  executive summary and table of contents 
C)  implementation and controls 
D)  financial projections 
E)  situation analysis 
A)  marketing strategy 
B)  executive summary and table of contents 
C)  implementation and controls 
D)  financial projections 
E)  situation analysis

Question 13

If a company sought to expand the number of existing products sold to its current markets, it would use an integrative growth strategy labeled as "market-penetration strategy."

Accepted Answer

A) True 
 B)False

Question 14

If a manager asks "How can my company identify new value opportunities?," he or she is examining a management question identified as being value creation.

Accepted Answer

A) True 
 B)False

Question 15

A mission statement has as its primary focus the product and how to make it.

Accepted Answer

A) True 
 B)False

Question 16

There are two views of the value delivery process that may be followed by organizations seeking to gain business from consumers. Briefly, summarize each of those views.

Accepted Answer

The traditional view of marketing is tha

Question 17

Business realignment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process?

Accepted Answer

A)  revamping the ethics statement. 
B)  reviewing global outreach projections. 
C)  reviewing successes from e-commerce (if any). 
D)  redefining the business concept (the "big idea"). 
E)  reviewing all macro relationships. 
A)  revamping the ethics statement. 
B)  reviewing global outreach projections. 
C)  reviewing successes from e-commerce (if any). 
D)  redefining the business concept (the "big idea"). 
E)  reviewing all macro relationships.

Question 18

If a firm pursues a(n) ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution.

Accepted Answer

A)  domestic customer relationship 
B)  market share 
C)  overall cost leadership 
D)  focus 
E)  differentiation 
A)  domestic customer relationship 
B)  market share 
C)  overall cost leadership 
D)  focus 
E)  differentiation

Question 19

Melissa Lee-Wen has been tasked with developing a marketing plan. Explain what this document is and how it is used.

Accepted Answer

A marketing plan is a written document t

Question 20

For an MBO system (manage by objectives) to work, the business unit attempting to implement the process must meet four criteria. What are those criteria?

Accepted Answer

The criteria are:(1)they must be arrange

Exam 2: Developing Marketing Strategies and Plans

Explain what happens in a SWOT analysis during the strategic planning process.

To guide implementation effectively, every part of the plan must be described in considerable detail.

Once an organization has established a business mission in its business unit strategic-planning process, it may proceed to the second step of the planning process called goal formulation.

Marketing plans are becoming more production-oriented because of the high costs of doing business in today's economy.

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.

If Canadian retailer, HBC, seeks to be a more holistic marketer, it should achieve profitable growth by expanding ________, building customer loyalty, and capturing customer lifetime value.

Holistic marketers achieve profitable growth by expanding customer share, ________, and capturing customer lifetime value.

One of the four major categories of strategic alliance involves sharing personnel (e.g., human resource alliance) to staff alliance member marketing departments.

While viewing businesses in terms of customer needs can suggest additional growth opportunities, a ________ tends to focus on selling a product or service to a current market.

Holistic marketers achieve profitable growth by expanding customer share, building customer loyalty, and

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

If a company sought to expand the number of existing products sold to its current markets, it would use an integrative growth strategy labeled as "market-penetration strategy."

If a manager asks "How can my company identify new value opportunities?," he or she is examining a management question identified as being value creation.

A mission statement has as its primary focus the product and how to make it.

There are two views of the value delivery process that may be followed by organizations seeking to gain business from consumers. Briefly, summarize each of those views.

Business realignment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process?

If a firm pursues a(n) ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution.

Melissa Lee-Wen has been tasked with developing a marketing plan. Explain what this document is and how it is used.

For an MBO system (manage by objectives) to work, the business unit attempting to implement the process must meet four criteria. What are those criteria?

Defining Marketing for the 21st Century

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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