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Exam 2: Planning Marketing Strategies

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Question 31

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A competitive advantage exists when a

A) firm matches a core competency to opportunities it has discovered in the marketplace.
B) firm does marketing better than its competitors.
C) combination of circumstances and timing allow a firm to reach an attractive target market.
D) firm observes a fit between the key requirements of a market and its own capabilities.
E) firm has a strong marketing plan.

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

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Question 32

Multiple Choice

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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. Southwest's low fares, dependability, and its on-time flights represent its

A) competitive advantage
B) marketing opportunity
C) marketing plan
D) marketing objectives
E) total quality management

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

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Question 33

Multiple Choice

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The employees of Zingerman's Deli are its ____ customers.

Marketing mix decisions must have two characteristics: consistency and timeliness.

A core competency is something a firm does extremely well¾sometimes so well that it gives the company an advantage over its competition.

Morris Business Products Co. has established a monthly sales quota of $150,000. This is a(n)

Hallaway's Corp.'s new shampoo, VS2, is faltering badly in the market. Hallaway's marketing personnel are unsure who is responsible for various marketing tasks, when these tasks are to be completed, or what resources have been allocated. Hallaway Marketing Director Carolyn Willis said that the problem is that VS2 has the most poorly written ____ she has ever seen.

What focuses on using information about customers to create marketing strategies that develop and sustain desirable customer relationships?

Internal marketing may involve market segmentation, product development, research, distribution, public relations, and sales promotion.

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. The information in EXperience Limited's database could be best used to develop

According to the Boston Consulting Group, marketers may classify their products as all of the following except

Borders Books uses technology to help them identify specific customers, establish interactive dialogues with them to learn about their needs, and combine this information with their purchase histories to customize products to meet those needs. Borders Books is using the ____ approach.

A strategic window results from the right combination of circumstances and timing, allowing a firm to take action to reach a particular target market.

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

Organizing a marketing unit by regions works well for a company that

Key factors in determining the best organizational structure for a marketing unit are the

Customer Relationship Management strives to build satisfying exchange relationships between buyers and sellers by gathering useful data at all customer-contact points.

Performance standards are established as part of the marketing control process.

Describe the two major components of marketing strategy. What should marketing managers consider when developing marketing strategy?

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