mktg 303 quiz 2

Which of the following actions would be the most likely to support and enhance and operational excellence macro strategy?

3M Corporation implementing new software to improve communication with its suppliers

Rashid has been directed by his regional marketing manager to cut prices on seasonal items, place an ad in the local paper, and tell distributors to reduce deliveries for the next month. Rashid is engaged in a. Implementing marketing mix and resources b. Performing situation analysis c. Evaluating performance d. Identifying and evaluating opportunities e. Defining the business mission

Implementing marketing mix and resources

Learn to Go sells its foreign language dictionaries to college students throughout the United States. Samuel Marcus, the owner, wants to start selling these products to international students abroad. Marcus wants to pursue a ________ growth strategy.

Market development

_____ involves the process of defining the marketing mix variables so that target customers have clear

Positioning

STP refers to

Segmentation, Targeting, Positioning

Subway is a large chain of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, she notes that sales rose from two to five percent over last year's sales at Stores 1 and 2 but fell two percent at Store 3. Based on this information, how should Marcia reward (or punish) her store managers? A. She should give bonuses to the managers of Stores 1 and 2 and put the Store 3 manager on probation. B. She should ignore the sales data; this is not an appropriate marketing metric. C. She should give each manager a raise, tied to the store results. D. She should review at least ten years of sales data about her stores' performance before making a decision. E. She should seek more information about why the stores had different results before making a decision.

She should seek more information about why the stores had different results before making a decision.

One example of a customer loyalty program is A. a frequent diner card at a restaurant, offering a free appetizer for every $100 in food purchases. B. a quantity discount offered for large purchases at an office supply store. C. seasonal sales on top selling items. D. an everyday low price policy on all products at a grocery store. E. an extensive customer service training program for new employees at a hair salon.

a frequent diner card at a restaurant, offering a free appetizer for every $100 in food purchases.

Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can

create a sustainable competitive advantage

Disney's My Magic system, which enables visitors to swipe their Magic Band wristbands to get on rides, make purchases, and open their hotel room door, is an example of ________ excellence.

customer

Town Bank prides itself on offering better service than any of its competitors. If this is accurate, and if customers recognize and value Town Bank's superior service, the bank creates and delivers value through

customer excellence

If a firm wants to develop a sustainable competitive advantage, it should

examine its operations and customer relations to identify significant things competitors cannot easily copy

Stars

high growth, high share

Question Marks

high growth, low share

Cash Cows

low growth, high share

Dogs

low growth, low share

A_______growth strategy employs the existing marketing offering to reach new market segments

market development

Which of the following is one of the four major growth strategies marketers typically utilize?

market penetration

For many years, Southwest Airlines distinguished itself as the lowest-cost airline.

no single strategy is likely to be sufficient to build a sustainable competitive advantage

The four overarching strategies to create and deliver value and to develop SCA include locational, customer, operational and______

product

When Marvel launched several successful series on Netflix, including Jessica Jones, Daredevil, Iron Fist, and Luke Cage, it employed a ________ strategy.

product development

In most companies, portfolio management is typically done at the SBU or

product line

A product that is in a high-growth market but has low market share would be classified as

question mark

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including

strengths and weaknesses

Ford Motors Company may be thinking of announcing that it will severely

threat