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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 61

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

A) SBU
B) STP
C) product line
D) market segment
E) promotional service

F) All of the above
G) None of the above

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Question 62

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Starbucks has developed a number of metrics beyond purely financial metrics.Knowing the importance of perceptions and knowing the importance of developing ways to demonstrate its activity,Starbucks tries to find clear ways to:

A) build brand equity.
B) demonstrate its sense of corporate social responsibility.
C) address concerns of opponents at local,regional,national and global levels.
D) help consumers to feel better about their purchases.
E) All of these

F) B) and D)
G) B) and C)

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Question 63

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Firms periodically conduct SWOT analyses.Why?

Braddock University allows recent graduates to come back and take additional courses for free.By offering additional educational services,the university is enhancing its _____________ in an attempt to create value for its customers.

An advertising campaign for Geico Insurance uses the slogan,"So easy,even a caveman could do it" to emphasize the ease of buying insurance on Geico's website.This campaign is part of Geico's:

The first objective in the Evaluate Performance phase of the marketing planning process is to:

After identifying various market segments that her company could pursue,Lisa evaluated each segment's attractiveness based on size,income,and accessibility.Lisa was involved in:

Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products.These marketers are attempting to create value through _____.

"Effective marketing doesn't just happen." It is:

The components of a SWOT analysis are Strengths,Weaknesses,Opportunities and Tactics.

Your new sales manager,who previously worked for Boston Consulting Group,directs each sales rep to "toss out the dogs," "exploit the stars," and "milk the cows." Translate this into everyday English: what is the sales manager asking the sales reps to do?

E-books,in addition to being an alternative product form,provide __________ value creation since they can be downloaded via the Internet immediately when they are needed.

To determine how attractive a particular market is in using the BCG portfolio analysis,__________________ is established as one axis.

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

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to providing fast,courteous service in a clean,professional looking environment.Gerald's has used this strategy for over 40 years,expanding to 15 outlets.Gerald's Tire Store has created a ___________________ to create and deliver value and to develop a sustainable competitive advantage.

Why is it important to have a structured approach to planning and developing a marketing plan?

STP refers to segmentation,testing,and promotion.

Which of the following is the third step in the strategic marketing planning process?

It is not always necessary to go through all the steps in the marketing planning process.

The text states,"Viewing customers with a lifetime value perspective,rather than on a transaction-by-transaction basis,is the key to modern customer retention programs." Create an example demonstrating a lifetime value perspective.Why is customer retention almost always a profitable marketing strategy?