Exam 2: Developing and Implementing Marketing Strategies and Plans

"Enriching Women's Lives" is a three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission statements?

Describe a marketing plan.

Which of the following is True regarding annual-plan control?

Which of the following is True regarding a marketing audit?

An environmental threat is a challenge posed by an unfavorable trend or development that, in the absence of defensive marketing action, would lead to lower sales or profit.

"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.

When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________ process.

Explain how companies achieve leadership by forming strategic alliances.

A strategy is a game plan for achieving what the business unit wants to achieve.

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

Your firm has experienced a decline in sales over the last three quarters. You have traced the problems to distribution inefficiencies. Which of the following should you track to ensure that the firm's distribution efficiency is maximized?

The purpose of profitability control is to ________.

Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction, and identify when a company can claim that it has a strategy.

What are hollow corporations?

Definitions of a firm's mission as well as its marketing and financial objectives are included in the marketing strategy section of the marketing plan.

What is the purpose of profitability control, and how do marketers use it?

Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.

The task of any business is to ________.

A marketing audit only benefits a company that is in trouble; companies in good health do not need to conduct them.

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.