Exam 2: Developing Marketing Strategies and Plans

As Kodak addresses the digital revolution taking over the photographic industry, it wants customers to see it as a leader in digital photography. Thus, it is moving away from the production of film roll cameras. This would be an example of which of the following value creation steps?

(Multiple Choice)

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Question 81

If SanDisk demonstrates the benefits of using its flash memory storage/USBs for data storage in addition to music storage as a way to encourage its current customers to buy more of its existing product offering, it is using a diversification strategy.

(True/False)

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Question 82

The first step in the business unit strategic-planning process deals with which of the following?

(Multiple Choice)

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Question 83

Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction and identify when a company can claim that it has a strategy.

(Essay)

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Question 84

Companies including Amazon.com, BMW, Disney, eBay, LEGO, Nike, and Toyota are examples of master marketers.

(True/False)

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Question 85

Contrary to popular belief, it is not possible to maximize sales and profits simultaneously.

(True/False)

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Question 86

Once a SWOT analysis has been completed, the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

(True/False)

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Question 87

When ESPN found new products for its existing markets by expanding into 10 cable channels, a Web site, and a magazine, it was using a product-development strategy.

(True/False)

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Question 88

Marketing plans are becoming more production oriented because of the high costs of doing business in today's economy.

(True/False)

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Question 89

The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.

(Multiple Choice)

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Question 90

With respect to core business processes, the ________ process includes all the activities involved in developing and launching high-quality products quickly and within budget.

(Multiple Choice)

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Question 91

Good mission statements are essential to being a success in business. Describe the three major characteristics that good mission statements should have.

(Essay)

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Question 92

________ management allows the company to discover who its target markets are, how they behave, and what they need or want. It also enables the company to respond appropriately, coherently, and quickly to different customer opportunities.

(Multiple Choice)

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Question 93

How does a marketing plan affect relationships?

(Multiple Choice)

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Question 94

When a manager is trying to identify how the company can efficiently create promising new offerings, he is addressing the question of value delivery.

(True/False)

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Question 95

In the communication stage of the value creation and delivery sequence, marketing must determine specific product features, prices, and distribution channels.

(True/False)

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Question 96

Good mission statements should be long and clear, should emphasize on a wide range of goals, and stress on the company's major policies and values.

(True/False)

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Question 97

Firms directing the same strategy to the same target market constitute a strategic group.

(True/False)

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Question 98

Over the past 10 years, Cisco Systems has drastically reduced its number of suppliers and aligned itself more closely with its remaining suppliers for each of its product-based teams. How might this have helped Cisco improve its new-offering realization process?

(Essay)

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Question 99

Which of the following is best described as a market-oriented business definition?

(Multiple Choice)

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Question 100

Showing 81 - 100 of 143

Exam 2: Developing Marketing Strategies and Plans

As Kodak addresses the digital revolution taking over the photographic industry, it wants customers to see it as a leader in digital photography. Thus, it is moving away from the production of film roll cameras. This would be an example of which of the following value creation steps?

If SanDisk demonstrates the benefits of using its flash memory storage/USBs for data storage in addition to music storage as a way to encourage its current customers to buy more of its existing product offering, it is using a diversification strategy.

The first step in the business unit strategic-planning process deals with which of the following?

Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction and identify when a company can claim that it has a strategy.

Companies including Amazon.com, BMW, Disney, eBay, LEGO, Nike, and Toyota are examples of master marketers.

Contrary to popular belief, it is not possible to maximize sales and profits simultaneously.

Once a SWOT analysis has been completed, the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

When ESPN found new products for its existing markets by expanding into 10 cable channels, a Web site, and a magazine, it was using a product-development strategy.

Marketing plans are becoming more production oriented because of the high costs of doing business in today's economy.

The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.

With respect to core business processes, the ________ process includes all the activities involved in developing and launching high-quality products quickly and within budget.

Good mission statements are essential to being a success in business. Describe the three major characteristics that good mission statements should have.

________ management allows the company to discover who its target markets are, how they behave, and what they need or want. It also enables the company to respond appropriately, coherently, and quickly to different customer opportunities.

How does a marketing plan affect relationships?

When a manager is trying to identify how the company can efficiently create promising new offerings, he is addressing the question of value delivery.

In the communication stage of the value creation and delivery sequence, marketing must determine specific product features, prices, and distribution channels.

Good mission statements should be long and clear, should emphasize on a wide range of goals, and stress on the company's major policies and values.

Firms directing the same strategy to the same target market constitute a strategic group.

Over the past 10 years, Cisco Systems has drastically reduced its number of suppliers and aligned itself more closely with its remaining suppliers for each of its product-based teams. How might this have helped Cisco improve its new-offering realization process?

Which of the following is best described as a market-oriented business definition?

Defining Marketing for the New Realities

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

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