Exam 2: Planning Implementing and Evaluating Marketing Strategies

Morris Business Products Co. distributes its business supply products through direct sales personnel. Recently, the company has established a monthly sales quota of $150,000 for each sales representative. This is a(n)

A firm's organizational mission should be derived from its goals.

Which of the following is a characteristic of a marketing objective?

Marketing managers can classify a firm's products into four basic types: stars, cash cows, dogs, and question marks.

In a traditional organization, marketing decisions are likely to be

Scenario 2.2 Use the following to answer the questions. EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to promote to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company. -Refer to Scenario 2.2. According to the BCG matrix, the hang-gliding and bungee jumping tours have been a ____ for EXperience Limited, while the skydiving and motorcross tours represent a ____.

All marketing mix decisions must have two characteristics: ____ and ____.

When an organization attempts to control its marketing activities, it may find it difficult to

When properly implemented, a good marketing strategy enables a company to achieve its business-unit and corporate objectives.

A group that has the willingness, ability, and authority to buy a product is a

Scenario 2.1 Use the following to answer the questions. Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company. Employees have been known to dress up in costume on an airplane, engage in "games" with the passengers, and generally provide a fun atmosphere for traveling. While other airlines have low rates of customer satisfaction, Southwest tends to maintain a high rating with its customers. Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum, adding to the negative experience of airline travel. Southwest keeps its costs low through several methods, one being that they do not serve meals on flights, or provide pre-boarding passes. The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country. Southwest is known for its low fares, its dependability, and its on-time flights. -Refer to Scenario 2.1. The fact that Southwest Airlines has a history of being able to retain its employees is a(n) ____ in its SWOT analysis. This low turnover creates more knowledgeable and satisfied employees, a potential _______.

Marketing plans may be developed for strategic business units, product lines, individual products or brands, or specific markets.

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

J.C. Penney is presently involved in a process of assessing marketing opportunities and resources, determining marketing objectives, re-defining marketing strategies, and developing guidelines for implementation and control. Thus, J.C. Penney is involved in

An appliance manufacturer that sells to large retail stores, wholesalers, and institutions would probably organize its marketing unit on the basis of

Resource deployment and coordination of functional areas of business are determined by

The long-term health of the firm depends solely on having products that generate cash and provide acceptable reported profits.

A marketing plan document usually begins with a(n)

Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a

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