Market Management College MidTerm

Market segmentation can be best described as the process of ________.

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs

In the marketing mix, place includes ________.

Logistics

The main section of the marketing plan most likely presents a detailed ________ analysis of the current marketing situation.

SWOT

________ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

SWOT

A company's broad mission leads to ________.

a hierarchy of objectives, including business objective and marketing objectives

A mission statement serves as a ________.

a statement of the organization's purpose

The collection of businesses and products that make up a company is called its ________.

business portfolio

The major activity in strategic planning is ________, whereby management evaluates the products and businesses that make up the company.

business portfolio analysis

More and more, companies are shifting their brand management focus from brand profitability toward ________.

customer management

Effective positioning begins with ________.

differentiation

A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review.

executive summary

The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities.

functional

Modern strategic planning ________.

is decentralized

Making more sales to current customers without changing a firm's products is known as ________.

market penetration

Each company must divide up the total market, choose the best segments, and design strategies for profitably serving chosen segments. This process involves market segmentation, ________, differentiation, and positioning.

market targeting

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

market targeting

________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

marketing control

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

marketing strategy

A ________ documents an organization's purpose-what it wants to accomplish in the larger environment.

mission statement

The purpose of ________ is to ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan.

operating control

In the context of a company's marketing mix, ________ includes company activities that make the product available to target consumers.

place

Marketing ________ addresses the what and why of marketing activities, while marketing ________ addresses the who, where, when, and how.

planning; implementation

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.

positioning

The process of arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.

positioning

In the marketing mix, design, packaging, services, and variety can be categorized under ________.

product

__________ refers to activities that communicate the merits of the product and persuade target customers to buy it.

promotion

________ measures the profits generated by investments in marketing activities.

return on marketing investment

________ involves looking at whether a company's key action plans are well-matched to its opportunities.

strategic control

________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.

strategic planning

The network made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system is known as the ________.

value delivery network