Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

Cash cows are market leaders that are growing fast,with substantial reported profits.

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 plan to makes.In this case,the employees are Zingerman's ____ customers.

Marketing objectives should be stated in such a way that the degree of accomplishment can be measured accurately.

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

Discuss how a firm's orientation is related to the development of its strategic plan.

Marketing managers can classify a firm's products into four basic types: stars,cash cows,dogs,and question marks.

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 ____.

In what ways does having a mission statement help an organization achieve its goals?

Gucci Group,a marketer of high-fashion products,achieved a company turnaround by ensuring that its brand had the same image and proper display around the world.It also lowered prices on some items,like handbags,to be more competitive.This illustrates a company working to develop a marketing mix that is both ____ and ____.

The time lag between the performance of marketing activities and the effects of such activities limits a marketing manager's ability to measure the effectiveness of marketing activities.

Sometimes the information required to control marketing activities is available but too costly.

Marketing planning establishes an organizational mission and goals,corporate strategy,marketing objectives,marketing strategy,and a marketing plan.

According to the Boston Consulting Group,question marks are characterized as products