Practice quiz 2

When Disney World wants to have at least 90% of its customers indicating they had a memorable and satisfying experience at the park hotels, this is an example of

a marketing objective

The marketing plan is

a written document detailing activities to be performed to implement and control marketing actions.

Rollins Steel Corporation, a leader in industrial supplies, has identified its auto battery unit as having a dominant market share; however, it has low prospects for growth. The unit currently generates more cash for Rollins Steel than is required to maintain its market share. According to the Boston Consulting Group, the auto battery unit would be classified as a ____

cash cow

Amazon's pricing, service, and continuing investment in improving its website with additional product offerings give it a(n) ____ over many other retailers.

competitive advantage

Apple has made success from anticipating what consumers would want in new technological advances, convenience, and ease of use. The introduction of the iPad was an example of a ______ for Apple, something that an organization does extremely well and may give a company an advantage over its competition.

core competency.

Realizing an increase in both the number of consumers who are environmentally-conscious and the number of consumers who are seeking vehicles that use less gasoline, several car manufacturers have developed hybrid automobiles. This is an example of identifying and capitalizing on a ______ while the strategic window is open.

market opportunity

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

product

The Texas Pitt Barbecue Corporation has conducted a SWOT analysis of its competition, and sees a marketing opportunity for its new Texas Pit Barbecue restaurant. It has developed its marketing plan to include the type of products it will sell, the location for the restaurant, and the pricing it will use. Their plan includes a marketing objective to make a profit of 5% the first year of operation. So far, the owners of the restaurant have eliminated a key piece of the marketing plan, which is ____.

specifying how they will achieve their marketing objective

An analysis of ____ examines internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

strenghts and weaknesses

Because of its highly efficient and low-cost distribution system, Walmart has a ____ advantage over Kmart.

sustainable competitive