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46 Cards in this Set
- Front
- Back
Marketing involves satisfying customers' needs and wants; the task of any business is to deliver ________.
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value at a profit
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The firm's task is to examine its ________ and ________ in each value-creating activity and look for ways to improve.
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costs; performance
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Value delivery networks are also called ________.
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supply chain
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The holistic marketing orientation provided insights into the process of capturing ________.
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customer value
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All of the following are levels of strategic planning EXCEPT ________.
corporate level division level business unit level product level department level |
department level
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Shaping of experiences, beliefs, and stories make up what is known as the ________.
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corporate culture
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Porter proposed three strategies that form a good starting point for strategic thinking. They include overall cost leadership, differentiation, and ________.
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focus
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All of the following are ways to measure key aspects of the marketing plan's performance EXCEPT ________.
sales analysis market share analysis trending analysis marketing expense-to-sales analysis |
trending analysis
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Overall market share represents ________.
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Company sales expressed as a percentage of total market sales.
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Managers can check whether the company is overspending to achieve sales goals by examining the ________.
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marketing expense to sales ratio
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T/F: Development of the right marketing strategy requires both discipline and documentation.
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False
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T/F: Successful firms look for competitive advantage beyond their own operations.
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True
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T/F: Holistic marketing orientation can provide insight into the process of capturing customer value.
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True
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T/F: The four levels of strategic planning include corporate, division, department, and product.
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False
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T/F: A business can be defined in terms of three dimensions: customer groups, customer needs, and technology.
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True
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T/F: The purpose of identifying the company's strategic business units is to develop separate strategies and assign appropriate funding to the entire business portfolio.
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True
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T/F: Business strategy consists of a marketing strategy plus a compatible technology strategy and sourcing strategy.
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True
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T/F: Implementation management involves careful attention to detail, excellent people skills, flexibility, and a sense of urgency.
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True
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T/F: A marketing plan is a written document that summarized what the marketer has learned about the marketplace and how the firm plans to reach its marketing objectives.
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True
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T/F: A customer performance scorecard records how well the company does on a short-term basis.
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False
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Identify the four planning activities that all corporate headquarters must undertake and why.
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Defining the mission; establishing strategic business units; assigning resources to each strategic business unit; and assessing growth opportunities. Corporate headquarters is responsible for designing a strategic plan that guides the entire enterprise and allows for the best decision-making capabilities.
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Why is creative implementation of marketing important?
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Creative implementation translates good marketing strategy into profits. Creative implementation involves attention to detail, excellent people skills, flexibility, and a sense of urgency.
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Developing the right marketing strategy requires a blend of _________ and _________.
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discipline; flexibility
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All of the following are core business processes EXCEPT ________.
the customer acquisition process the customer relationship management process the customers payment plan the fulfillment management process the new offering realization process |
the customers payment plan
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The holistic marketing framework addresses three key management questions; they are value exploration, value creation, and ________.
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value delivery
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Good mission statements focus on ________.
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goals; policies; values; major competitive spheres
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The purpose of identifying the company's strategic business unit is to ________.
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develop separate strategies and assign appropriate funding to the entire business portfolio
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The Royal Dutch/Shell Group has pioneered ________.
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scenario analysis
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SWOT analysis is an overall evaluation of a business's strengths, weaknesses, opportunities, and ________.
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threats
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________ can translate a good marketing strategy into great profits.
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Creative implementation
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The marketing plan contain typically contains the following basic sections EXCEPT ________.
situation analysis marketing strategy and programs financial projections short term planning implementation controls |
short term planning
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The return on assets is the product of two ratios, the ________ and ________.
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profit margin; asset turnover
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T/F: Firms must abandon their strategy for improvement to customer values.
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False
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T/F: Michael Porter proposed the value chain as a tool for identifying ways to create more customer value.
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True
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T/F: A core competency is easy for competitors to imitate.
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False
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T/F: Mission statements once formulated should not be revised in response to every new economic development.
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True
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T/F: Integrative growth is always accomplished through forward integration or horizontal integration.
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False
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T/F: The Royal Dutch/Shell Group pioneered scenario analysis.
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True
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T/F: Market opportunity analysis (MOA) is conducted prior to the SWOT analysis.
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False
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T/F: Implementation management requires attention to detail, excellent people skills, flexibility, and a sense of urgency.
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True
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T/F: In a recent study by Accenture, 70 percent of marketing executives stated that they did have a handle on the return on marketing investments.
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False
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T/F: Marketing-mix models analyze data from a variety of sources.
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True
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Explain the process that is conducted after the SWOT analysis.
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After the SWOT analysis is conducted, the specific goals for the planning period are conducted, called goal formulation.
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What is a marketing plan?
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A marketing plan is a written document that summarizes what the marketer has learned about the marketplace and how the firm plans to reach its marketing objectives. It incorporates both the strategic and tactical levels.
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What is Holistic marketing concept?
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the holistic marketing concept is based on development, design, and implementation of marketing programs, processes, and activities that recognize thier breadth and interdependencies. holistic marketing recognaize that "everything matters" with marketing and that a broad, integrated perspective is often necessary. four compnents of holistic marketing are: relationship marketing - integrated marketing - internal marketing - and socially responsible markiting.
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strategic business unit
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understood as a business unit within the overall corporate identity which is distinguishable from other business because it serves a defined external market where management can conduct strategic planning in relation to products and markets. When companies become really large, they are best thought of as being composed of a number of businesses (or SBUs).
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