Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

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

The decisions made in creating a marketing mix are only as good as the organization's understanding of the target market.

A marketing plan document usually begins with a(n)

An analysis of ____ examines internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

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

Which of the following is the most specific and detailed type of business strategy?

Mama Vertalli's Bakery is a family-owned business with over $1 million in annual revenues and six locations. At Mama Vertalli's, decisions are sometimes slow in coming and top-level managers delegate very little authority to lower-level employees. Mama Vertalli's is a(n) ____ organization.

Successful business organizations should take actions to convert internal weaknesses into ____ and external threats into ____.

Marketing planning and implementation are inextricably linked in successful businesses.

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

​You are the senior financial analyst supporting the marketing department in your company, and head of marketing has asked you to come up with one performance metric that can be used to evaluate how effective each marketing campaign is in terms of contribution to the firm's profits. It should be a metric that can be easily used to compare different marketing campaign against each other.In response, you propose using:

It begins with the establishment of revision of an organization's mission and goals. 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.

Kraft purchased the Duracell Battery Company and now operates this division as a separate profit center within the firm. In this example, Duracell is a(n) ____ unit of Kraft.

A marketing plan

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

Hallaway's Corp.'s new shampoo, VS2, is faltering badly in the market. Hallaway's marketing personnel are unsure who is responsible for various marketing tasks, when these tasks are to be completed, or what resources have been allocated. Hallaway Marketing Director Carolyn Willis said that the problem is that VS2 has the most poorly written ____ she has ever seen.

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

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

Describe the two major methods for evaluating the actual performance of marketing strategies.

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.