Exam 2: Developing and Implementing Marketing Strategies

Empowerment refers to the measurement and evaluation of the quality of an organization's goods,services,or processes as compared with the best-performing companies in the industry.

The most important component of customer relationship management is

Customer relationship management systems cannot be effective unless they are developed as

Question marks exist at a cost disadvantage and exhibit few opportunities for growth at a reasonable cost.

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

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

Marketing strategies should be established before marketing objectives are decided.

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

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's

Kate is upset because the bank did not credit her account with a deposit,which resulted in a returned check to Kate's landlord.When she was told the branch manager was on vacation,Kate resigned herself to waiting two weeks to have the matter resolved.To her surprise,though,the receptionist apologized for the error and drafted a letter to Kate's landlord while Kate waited.The bank was engaging in which type of decision-making strategy?

In essence,all organizations have two types of strategy: ____ is the strategy that the organization decides on during the planning phase,and ____ is the strategy that actually takes place.

Through the process of strategic planning,a firm establishes an organizational mission and goals,corporate strategy,marketing objectives,marketing strategy,and a marketing plan.

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.

Discuss the creation of a marketing plan.What are the major components of a marketing plan?

A market opportunity results from

According to the textbook,which of the following statements is most accurate?

The strategic planning process begins with

Gucci Group,a marketer of high-fashion products,achieved a company turnaround by ensuring that its brand had the same image and proper display around the world.It also lowered prices on some items,like handbags,to be more competitive.This illustrates a company working to develop a marketing mix that is both ____ and ____.

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

According to the text,the 80/20 rule suggests that