Exam 2: Planning Implementing and Evaluating Marketing Strategies

Alex has been analyzing information from his company's database about customer purchasing habits, since he is responsible for the managing the growth of the industrial supply division of his company. Alex plans to use the information from his analysis to create new marketing strategies that will develop and sustain relationships with those customers who are more profitable for the company. What type of concept is Alex using?

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?

An organization's goals focus on the ends or results that the firm seeks.

Stars are profitable products that usually generate more cash than is required to maintain share.

The Boston Consulting Group approach is based on a philosophy that a product's market growth rate and its market share relative to competition should be helpful in determining its marketing strategy.

The Boston Consulting Group's matrix is based on the

A strategic business unit is not self-supporting in terms of sales, markets, production, and other resources.

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

The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.

L.L. Bean uses technology to help them identify specific customers, establish interactive dialogues with them to learn about their needs, and combine this information with their purchase histories to customize products to meet those needs. L.L. Bean is using the ____ approach.

The strategic planning process begins with

A firm that wants to put more senior management personnel into the field, to get closer to customers, and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

Sayed's employer is currently developing a new marketing strategy. The top managers have developed the marketing strategy and have given it to Sayed so that he can now develop an implementation plan. Sayed's company will most likely end up with which type of strategy?

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

A strategic window is

Each of the marketing mix elements must work together with the others.

A ____ is created when a company matches its core competency to opportunities it has discovered in the marketplace.

One way that Honda evaluates its product and service level is by how well it ranks on the J. D. Power & Associates Sales Satisfaction Survey. In doing so, Honda is

Marketing planning consists of two major components: marketing objectives and a control process.