Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

Describe the two major components of marketing strategy.What should marketing managers consider when developing marketing strategy?

Scenario 2.1 Use the following to answer the questions. Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company.Employees have been known to dress up in costume on an airplane,engage in "games" with the passengers,and generally provide a fun atmosphere for traveling.While other airlines have low rates of customer satisfaction,Southwest tends to maintain a high rating with its customers.Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum,adding to the negative experience of airline travel.Southwest keeps its costs low through several methods,one being that they do not serve meals on flights,or provide pre-boarding passes.The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country.Southwest is known for its low fares,its dependability,and its on-time flights. -Refer to Scenario 2.1.Maintaining the current culture of "fun" for Southwest Airlines' employees is most likely a(n)

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

The Kingtel Corporation is expanding operations into countries outside the United States.To improve local managers' responsiveness to local conditions,Kingel's senior management has decided to delegate decision-making authority further down the chain of command.Acme is

A sustainable competitive advantage is one that cannot be copied by a firm's competitors.

An expected level of performance against which actual performance can be compared is a

Marketing planning and implementation are inextricably linked in successful businesses.

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

Kinko's partnership with FedEx has given it a _______ in the printing,faxing,and delivery market.Since this partnership can't be easily copied by the competition,it also represents a(an)____ advantage.

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

Alicia,a product representative at Frito-Lay in Atlanta has received a call from a customer asking about a new product.The customer has a friend in Seattle who was just telling him about a new snack Frito-Lay has introduced that is selling rapidly.Alicia's office does not market this product,and at the present knows very little about it.She asks the customer if she can get back with him with more information.Alicia then calls product management in Texas.Based on this information,this firm is most likely organized according to which of the following?

After determining that consumers had concerns about fat and carbohydrates,Sardino's Pizza began offering a low-fat,low-carb pizza product.The creation of this new product was the result of

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

Managers at the Longshore Corporation are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy,marketing objectives,marketing strategy,and,eventually,a marketing plan.This process is called

Corporate strategic planners focus on dimensions such as competition,diversification,differentiation,environmental focus,and interrelationships among SBUs.

A competitive advantage exists when a

How does a firm use a market opportunity to reach a particular target market?

Identifying and analyzing a target market and developing a marketing mix to satisfy individuals in that market are essential elements of which of the following parts of strategic planning?

The reputation and well-known brand name of Rolex watches represents a ____ for Rolex.

The first step in the marketing control process is to