Exam 3: Elements of Marketing Strategy, Planning, and Competition

Maria, the marketing manager of an automobile dealership, is crafting a SWOT analysis. In this case, she should list competitors that have gone bankrupt under ________.

Which of the following is NOT a major category for analysis in the internal environment?

Bliss Massage Therapy Center maintains a database of over 700 clients and sends each one a special discount offer in the month of his or her birthday. Managers hope that as existing customers use the discount, they will see an overall growth in sales. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.

According to the BCG matrix, a business that is classified as a dog has high growth and high market share.

Which of the following is considered an objective?

The concept of the value chain was created by ________.

Teel is a plumbing fixture manufacturer's salesperson. He sells to wholesalers, homebuilders, and retailers. His marketing plan calls for going to four trade shows a year. He recently found out that there would be a new Home Show aimed at consumers in his territory and he wants to attend. His boss gives him permission to attend the additional show. Which of the following concepts in successful marketing planning is exemplified in this scenario?

In the context of situation analysis, which of the following is a category for analysis in the internal environment?

As long as all activities in the value chain are working well, managers do not need to be concerned with aligning the activities.

The marketing manager at Little Red Architects, a firm that specializes in the design of school buildings, discovered a glitch in the software that the firm uses. As a result, some of its most recent projects will come in over budget. In the context of SWOT analysis, a discussion of this would be included under ________.

Although Michael knew he couldn't really afford the Mercedes, he wanted it anyway. The want-satisfying power of a good is called ________.

For firms interested in building long-term customer relationships, having satisfied customers is enough to ensure the relationship is going to last.

What can impact the competitive nature of an industry through the ability to raise prices or affect the quality of inbound goods and services?

In the BCG matrix, firms categorized as problem children are characterized by ________.

One part of a marketing plan should identify what to do if things go wrong. This section is called ________ planning.

Zenith Homebuilders used to purchase many building lots and erect spec homes (i.e., it gambled that the demand for new houses would be so high that they would sell easily). Since the real estate slowdown, it builds homes only when owners are under contract. In this case, the company is most likely pursuing a generic business strategy of ________.

When a firm communicates the value proposition of its products to customers, the value message only includes the benefits of the product.

The best place in a SWOT analysis to identify problems with hurricanes, earthquakes, major snowfalls, and other natural phenomena is ________.

The process of measuring marketing results and adjusting the marketing plan as needed is called marketing ________.

Mark and Gregory are partners in a manufacturing firm that employs over 1,500 people. Recently, employees have been complaining that they were not told of changes in health insurance coverage and premiums. To which of the following support activities of the value chain can this problem be attributed?