Exam 2: Developing Marketing Strategies and Plans

A principle of the value chain is that every firm is a synthesis of activities performed to design,produce,market,deliver,and support its product.

Market-penetration,product-development,and market-development strategies would all be examples of ________ strategies.

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.

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?

Mission statements that express unrealistic visions are usually unable to inspire employees to achieve their targets.

What questions would typically be asked during a market opportunity analysis (MOA)?

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

After analyzing their company's strengths and weaknesses,top managers at Asia Loans decided to meet the needs of the DINK (dual income,no kids)market segment,Asia Loans simplified its sales contract,restructured its advertising efforts to focus on Google ads,and created a separate customer-service department.Asia Loans' strategy is best described as a(n)________ strategy.

Another way to describe a supply chain,where companies partner with specific suppliers and distributors to ensure a smooth functioning of the system,is to call it a ________.

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

Once Starbucks had established its presence in thousands of cities internationally,the company sought to increase the number of purchases by existing customers with a ________ strategy that led to new in-store merchandise,including compilation CDs and high-speed wireless access.

Mission statements are at their best when they reflect a ________.

Sales forecasts,expense forecasts,and break-even analysis are usually found in the section on financial projections in the marketing plan.

The ________ lays out the target markets and the value proposition that will be offered,based on an analysis of the best market opportunities.

A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.

During Jill's market research study,many customers indicated that traditional oven gloves made it very difficult to hold baking dishes,resulting in frequent spills.Jill brought her findings to the research department,and her company leveraged its engineering and design competencies to develop a new hand-held hot-pad that allows for significantly greater dexterity in handling hot cooking implements,while protecting the cook from burns.This is an example of the ________ element of the holistic marketing framework.

Joe Gan plans the daily promotional releases about his company's products and services.He can be described as a(n)________ planner.

Warner Brothers has an alliance to release its movies in high-definition DVD in Sony's Blu-ray format.This would classify as which type of strategic alliance? Explain your answer.

When a customer places an order at BookBox.com,the company processes the customer's payment information,sends the order to the nearest warehouse,and ships the order via FedEx.This is best described as the ________.

Of the four organizational levels,the corporate level is likely to take which of the following decisions?