Exam 2: Developing Marketing Strategies and Plans

For an MBO (management by objectives)system to work,one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

Juan Garcia is seen as a ________ planner because he plans the daily promotional releases about his company's products and services.

The key to utilizing organizational core competencies is to ________ that make up the essence of the business.

Indicate the differences and similarities between the following terms: marketing plan,strategic marketing plan,and tactical marketing plan.

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.

Core competencies tend to refer to areas of special technical and production expertise,whereas ________ tend to describe excellence in broader business processes.

Within the marketing strategy section of the marketing plan,goals and budgets are spelled out for each month or quarter so management can review each period's results and take corrective action as needed.

Which of the following is one of the five major characteristics of good mission statements

A good illustration of a market definition of the business a company is in would be "We sell gasoline."

Return on investment (ROI)shows how many units must be sold monthly to offset the monthly fixed costs and average per-unit variable costs.

The marketing plan is the central instrument for directing and coordinating the marketing effort.

Which of the following terms most closely matches to "the shared experiences,stories,beliefs,and norms that characterize an organization"

A core competency is usually common among competitors in a given industry.

The last step in the value creation and delivery sequence is ________ the value where the sales force,sales promotion,advertising,and other communication tools announce and promote the product.

Identify and give examples of the four major categories of strategic alliances.

Most large companies consist of four organizational levels: the ________,the division level,the business unit level,and the product level.

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.

________ allows the company to discover who its customers 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.

The customer's ________ reflects existing and latent needs and includes dimensions such as the need for participation,stability,freedom,and change.

A firm employing a focus strategy must be good at engineering,purchasing,manufacturing,and physical distribution.