mktg ch 2

Which of the following statements about the marketing mix is incorrect?

Once a marketing mix has been created for a particular target market, it cannot be changed until a new strategic window opens.

A strategic window is

a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market.

Business decisions made in creating a marketing mix

are only as good as the organization's understanding of the needs of the target market.

Gucci Group, a marketer of high-fashion products, achieved a company turnaround by ensuring that its brand had the same image and proper display around the world. It also lowered prices on some items, like handbags, to be more competitive. This illustrates a company working to develop a marketing mix that is both ____ and ____.

consistent flexible

CyberCycle Inc., is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the

marketing plan

An organization's business goals should be derived from its

mission statement

Resource deployment and coordination of functional areas of business are determined by

corporate strategy

​Your quarterly strategic planning meeting will be held next month. You will schedule all the brainstorming and discussion activities for the meeting in a sequence and structure consistent with the hierarchy of the traditional strategic planning process.

​1: Develop the company's mission and goals; 2: Develop business unit strategies; 3: Complete a SWOT analysis for the company; 4: Develop functional area goals and objectives.

​You are the senior financial analyst supporting the marketing department in your company, and head of marketing has asked you to come up with one performance metric that can be used to evaluate how effective each marketing campaign is in terms of contribution to the firm's profits. It should be a metric that can be easily used to compare different marketing campaign against each other.

​A metric that takes the total new sales dollars generated by a campaign and divides it by the total cost of the campaign.

​You are leading the breakout session on developing the marketing strategy at your company's strategic planning conference. You have prepared discussion guidelines and rules of engagement to keep all attendees in the session focused on the task at hand.

​suggest that the marketing objectives should be consistent with both the business-unit and the corporate strategies.