Exam 2: Developing and Implementing Marketing Strategies

The time lag between the performance of marketing activities and the effects of such activities limits a marketing manager's ability to measure the effectiveness of marketing activities.

Marketing objectives state what is to be accomplished through marketing activities.

In response to the increase in demand for organic foods,Wegmans,Inc.,a regional supermarket,recently created organic food departments within their large stores.The creation of these departments was a result of

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

The long-term health of the firm depends solely on having products that generate cash and provide acceptable reported profits.

The marketing plan is

Use the following to answer the questions. Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company.Employees have been known to dress up in costume on an airplane,engage in "games" with the passengers,and generally provide a fun atmosphere for traveling.While other airlines have low rates of customer satisfaction,Southwest tends to maintain a high rating with its customers.Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum,adding to the negative experience of airline travel.Southwest keeps its costs low through several methods,one being that they do not serve meals on flights,or provide pre-boarding passes.The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country.Southwest is known for its low fares,its dependability,and its on-time flights. -Refer to Scenario 2.1.The fact that Southwest Airlines has a history of being able to retain its employees is a(n)____ in its SWOT analysis.

A group that has the willingness,ability,and authority to buy a product is a

The Texas Pitt Barbecuem Corporation has conducted a SWOT analysis of its competition,and sees a marketing opportunity for its new Texas Pit Barbecue restaurant.It has developed its marketing plan to include the type of products it will sell,the location for the restaurant,and the pricing it will use.Their plan includes a marketing objective to make a profit of 5% the first year of operation.So far,the owners of the restaurant have eliminated a key piece of the marketing plan,which is ____.

Explain the different types of growth strategies that can be used by a strategic business unit.

____ involves giving customer-contact employees the authority and responsibility to make marketing decisions without seeking the approval of a supervisor.

Compare and contrast corporate strategy and marketing strategy.

Starbucks 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,Starbucks is involved in

The process of putting marketing strategies into action is called

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 information in EXperience Limited's database could be best used to develop

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

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

Electronic marketing has greatly improved the ability of marketers to target individual customers.As a result,many feel that marketing's emphasis is shifting from share of market to share of

To formulate a marketing strategy,one must

A large company that markets products throughout the nation could use a regional type of organization.