Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

A firm's unique symbols, personalities, and philosophies comprise its

When managers at Logistics Pro are developing their strategic plan, they use a market orientation as a guide to ensure that ____ is an integral part of the process.

Starbucks provides training and support to its employees, including health-care benefits. Through these ____ efforts Starbucks is better able to deliver quality products and service to its customers.

Mama Vertalli's Bakery is a family-owned business with over $1 million in annual revenues and six locations. At Mama Vertalli's, decisions are sometimes slow in coming and top-level managers delegate very little authority to lower-level employees. Mama Vertalli's is a(n) ____ organization.

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

You want to include a detailed marketing organizational chart in the company marketing plan. Which of the following sections of the marketing plan will you include this chart in?

The decisions made in creating a marketing mix are only as good as the organization's understanding of the target market.

You are leading the breakout session on developing the marketing strategy at your company's strategic planning conference. You have prepared discussion guidelines and rules of engagement to keep all attendees in the session focused on the task at hand. Your guidelines for developing the company's marketing strategy

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

Product development is a strategy of increasing sales by improving present products or developing new products for current markets.

Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted on properly are called

In what ways does having a mission statement help an organization achieve its goals?

An organization's goals focus on the ends or results that the firm seeks.

Marketing planning establishes an organizational mission and goals, corporate strategy, marketing objectives, and a marketing strategy.

A market is a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase these products.

Competitive growth strategies are based on

Sami Poole recently graduated from an East Coast university and has joined a small start-up based in New York City. One of his first assignments is to work collaboratively with other members of the marketing team to draft the marketing plan for the next fiscal year. Sami is highly skilled in conducting secondary research and, as an alumnus of his university, he continues to have complimentary access to the university's library resources. He's now realizing how important data analysis is to firms and is glad he took a marketing research course. Sami is utilizing the library resources to uncover information about a variety of external factors that could provide opportunities or threats and is exploring such factors as competitive, economic, political, legal, regulatory, technological, and sociocultural. Which section of the marketing plan would be most appropriate for the information that Sami is obtaining through secondary market research?

The director of marketing for 3M tapes tells the rest of the management team, "When it comes to our transparent packaging tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the packaging tape unit falls into which one of the following classifications?

When conducting a SWOT analysis, Walmart's massive distribution network should be classified as an opportunity.

Which of the following describes the relationships among the three planning levels, from broadest to narrowest?