Exam 2: Developing Marketing Strategies and Plans

The marketing plan should open with a situation analysis.

In the central role of strategic planning, only a handful of companies stand out as master marketers Molson, Tim Hortons, Bombardier, WestJet Airlines, Walmart, and McDonald's to name a few. From a consumers perspective why do you think they stand out? Explain.

If a company sought to grow via a strategy that required the company to seek new businesses that have no relationship to its current technology, products, or markets, the company would be using a diversification strategy called a conglomerate strategy.

A holistic marketing orientation can provide insight into the process of capturing customer value. In this vain, the holistic marketing framework is designed to address three key management questions. Describe and illustrate each of these key management questions.

When a customer places an order at amazon.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 ________.

What master marketer is known for building a brand in a product area where no brand name had ever existed before?

A good illustration of a marketing objective would to "decrease customer acquisition costs by 1.5 percent per quarter."

Natalie Plante has been asked to conduct the SWOT analysis for her business unit. Exactly what will Natalie be evaluating?

The firm's success depends not only on how well each department performs its work, but also on how well the various departmental activities are coordinated to conduct

Firms choosing a generic strategy centring on focus must be good at engineering, purchasing, manufacturing, and physical distribution.

Partner Relationship Management (PRM) can be thought of as a corporation's development of structures that support strategic alliances and treats the formation and management of partnerships as a core skill.

A successful company nurtures its resources and competencies. A core competency has three characteristics. Describe those characteristics and relate them to the Hospital for Sick Children, located in Toronto.

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.

Good illustrations of microenvironment actors in the strategic planning process would be demographics, technology, and the social-cultural arena.

The customer relationship management process is all the activities involved in receiving and approving orders, shipping the goods on time, and collecting payment.

A business's sales and profits may be increased through backward, forward, or vertical integration within its industry.

When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment it is referred to as a

The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.

Peter Drucker pointed out that it is more important "to do things right" (efficiency) than to "do the right thing" (effectiveness).

Fred Smith wanted to deliver mail anywhere in the United States before 10:30 a.m. the next day, so he created FedEx. Which of the following planning aids most likely assisted Mr. Smith with his vision?