MKT300 Chapter 2 Questions

Which of the following is the last step of establishing a marketing implementation timetable?

Assigning responsibility for completing each activity to one or more employees, teams, or managers

The unique symbols, personalities, and philosophies that support all corporate activities including strategic planning and marketing are best described as _______.

corporate identity

Decision-making authority is delegated as far down the chain of command as possible in a(n) _______.

decentralized organization

Which of the following provides an overview of the entire marketing plan so that readers can quickly identify the key issues and their roles in the planning and implementation process?

executive summary

Which of the following is based on the philosophy that a product's market growth rate and its market share are important considerations in determining marketing strategy?

market growth/market share matrix

When the right combination of circumstances and timing permits an organization to take action to reach a particular target market, there exists a(n) _______.

market opportunity

A _______ states what is to be accomplished through marketing activities.

marketing objective

Performance standards are derived from _______.

marketing objectives

Which of the following provides a uniform marketing vision for the firm and is the basis for internal communications?

marketing plan

The strategic planning process begins with _______.

organizational missions and goals

When conducting a SWOT analysis, which of the following are barriers that could prevent an organization from reaching its objective?

threats

Marketing cost analysis _______.

breaks down and classifies costs to determine which are associated with specific marketing efforts

Which of the following is NOT one of the steps in strategic performance evaluation?

Establishing a timetable for implementation

Which of the following is NOT a component of the marketing plan?

business analysis

The ability of competitors to achieve long-term competitive advantages by entering the market later and not being the first to offer a certain product in the marketplace is called _______.

late-mover advantage

Which of the following competitive growth strategies strives to increase sales of current products in new markets?

market development

A marketing strategy is the selection of a(n) _______ and the creation of a(n) _______ that will satisfy the needs of target-market members.

target market; marketing mix

An essential element of communicating with marketing employees is _______.

training