Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

The strategic planning process begins with

Scenario 2.2 Use the following to answer the questions.EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to promote to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company. -Refer to Scenario 2.2. The fact that college enrollments have been increasing at a fast rate the past few years is an example of ____ and creates a ____ for EXperience Limited.

Amazon's pricing, service, and continuing investment in improving its website with additional product offerings give it a(n) ____ over many other retailers.

Which of the following is not a purpose of the marketing plan?

​You are preparing the marketing budget for the next fiscal year and the finance department staff has given you the following guidelines to follow when estimating certain aspects of the budget: 1) You should allocate $250,000 for the total annual office expense for the marketing department. 2) For each marketing campaign that you plan to run, you should allocate $10,000 for supplies expense. 3) For each new product introduction that you plan to execute, you should allocate $5,000 for travel expenses. 4) You should allocate $25,000 for storage expenses for the entire year.With respect to the costs included in the guidelines communicated from finance you can conclude that

The Kingtel Corporation is expanding operations into countries outside the United States. To improve local managers' responsiveness to local conditions, Kingel's senior management has decided to delegate decision-making authority further down the chain of command. Acme is

CyberCycle Inc., is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the

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

​Your company is holding its annual five-year strategic planning conference. The purpose of the conference is to solidify the go-forward tactics and strategies to enable the company to compete effectively in its industry. You are managing this conference and the various breakout sessions that will take place.Consistent with the sequence of the traditional strategic planning process, the first breakout session should be

Describe the two major components of marketing strategy. What should marketing managers consider when developing marketing strategy?

Realizing an increase in both the number of consumers who are environmentally-conscious and the number of consumers who are seeking vehicles that use less gasoline, several car manufacturers have developed hybrid automobiles. This is an example of identifying and capitalizing on a ____ while the strategic window is open.

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a

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

A firm's organizational mission should be derived from its goals.

____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

Safeway Foods Corporation is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Safeway is creating a

A strategic window results from the right combination of circumstances and timing, allowing a firm to take action to reach a particular target market.

J.C. Penney is presently involved in a process of assessing marketing opportunities and resources, determining marketing objectives, re-defining marketing strategies, and developing guidelines for implementation and control. Thus, J.C. Penney is involved in

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

A long-term view, or vision, of what the organization wants to become is called a mission proclamation.