Exam 2: Elements of Marketing Strategy and Planning

The best place in a SWOT analysis to identify rising interest rates and availability of credit is ___________________.

In the section of a marketing plan devoted to firm resources, one expects to find an examination of a firm's functional/operational level of resources and capabilities and how they impact the firm's ability to develop and execute market-driven strategies.These capabilities would include all but _________.

The last step in the value chain is margin.

Value may be defined as the ratio of bundled benefits received to the cost incurred by the customer to receive those benefits.____________ is not thought of as one of the costs.

Differentiation is the backbone of developing a marketing strategy.

Vinny, the marketing manager for Bass Line Audio Systems, wants the company to offer an MP3 player, a product the company doesn't have.He thinks that the firm has many brand loyal customers who would buy it.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.

A SWOT analysis should not __________________.

The best place in a SWOT analysis to identify the possibility of acquiring a competitor is in ___________________.

José's and Maria's son Jorge is a talented swimmer.The pool where he takes swimming lessons is 45 miles from their home in suburban Atlanta.________ utility is not part of the round trip they make six days a week.

Really Big Financial Co.has been forced to sell its under performing mortgage division so that senior management can focus on the relatively profitable sector of private banking.Most likely the company is pursuing a generic business strategy of _________.

Define value proposition.

One part of a marketing plan should identify what to do if things go wrong.This is called _______________.

The GE Business Screen portfolio model evaluates businesses on the dimensions of market attractiveness and market share.

Implementation elements should include ____________.

Tyler's event planning company hired a new marketing assistant.He says he is a "big picture person", not a detail-oriented person.Most likely, Tyler is about to find out that the new assistant needs to be coached to ________________.

The best place in a SWOT analysis to list the competitive trends is ____________.

Martha purchases books, music and videos at a large bookstore chain.Although the store nearest to her house is less than five miles away, the location where she shops most frequently is 120 miles north of her home.It is a good place to take a break when she drives 270 miles to visit her parents once a month.The store that is further away from her home offers ____________ utility.

The first step of marketing planning is the establishment of goals and objectives.

Amanda Whittlesley, the new CEO of the Too Big Corporation, wants to use the BCG model to analyze the corporation.You are to oversee the project that must be completed in the next 60 days.Amanda has called a meeting for corporate executives and the presidents of the eleven strategic business units.Your task at the meeting is to explain the BCG model and how you will implement it.What will you say? Include any weaknesses of the BDG model.

The process of measuring marketing results and adjusting the marketing plan as needed is called ______________.