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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 71

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When musicians and their concert promoters began offering CDs of a live concert immediately after the concert ended,what type of growth strategy were they pursuing?

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Product development,because th...

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Question 72

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Price should be based on the value that the customer perceives as giving them a good value for the product they receive.

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Question 73

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A mission statement describes the specific actions a firm will take to achieve its goals.

Amazon's latest attempt to shore up and enhance its competitive barriers by introducing a home service marketplace that may help it achieve a lasting,powerful advantage is an example of _______________ excellence.

After finishing his marketing degree,Ryan inherited the family Shrimp Shack restaurant.The restaurant is a small,local institution that beach visitors have been coming to for decades.Ryan wants to make his business grow and is considering either a market penetration or market development strategy.Describe what Ryan will likely do if he pursues either strategy.

Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can

Suppose that you and a friend decide to turn your favorite sports activity-inline skating-into a business.You plan to design a line of fashionable clothing that integrates elbow and kneepads.For each of the four macro strategies,briefly describe the most important thing your company should do if you intend to focus on that strategy.Your answers should be specific to the inline skating business.

A __________ growth strategy employs the existing marketing offering to reach new market segments.

As it pertains to the marketing plan,understanding the causes of performance,regardless of whether that performance exceeded,met,or fell below the firm's goals

A(n) ___________ is a group of products that consumers may use together or perceive as similar in some way.

A competitive advantage based on location is often sustainable because

The components of a SWOT analysis are strengths,weaknesses,opportunities,and tactics.

When conducting a SWOT analysis,in what phase of the strategic marketing process is an organization presently engaged?

Among Internet users,some do research online,some shop,some look for entertainment,and many do all three.Each of these groups would be called a

3M involves its customers in the process of developing new products.In this way,it can benefit from current customers' insights and develop new products that will meet these customers' needs.3M is pursuing a __________ growth strategy.

Which of the following is least likely to provide a sustainable competitive advantage?

Allen is in the marketing department of a midsized firm that develops and sells communications systems.He is proud of the human resource area in the company that provides the firm with excellent employees.Allen himself really enjoys his work,but he knows the work of HR helps create an operational advantage for the firm because of all the following except

Introducing newly developed products or services to a market segment the company is not currently serving is called

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test.You might notice the packaging,colors,labels,even the fonts used on labels.All of these efforts are part of the marketer's