Quiz 2, MKTG 409

Which of the following statements is incorrect? a. Strategic planning begins at the marketing level and proceeds through business-unit and corporate levels. b. Strategic planning begins at the corporate level and proceeds through business-unit and marketing levels. c. Marketing strategy should be consistent with both the business-unit and corporate strategies. d. Business-unit strategy should be consistent with the corporate strategy. e. Of the three levels of planning, corporate strategy is the broadest.

Strategic planning begins at the marketing level and proceeds through business-unit and corporate levels.

Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except

coordinating a new step in performance analysis

Apple has made a 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

The ___________________ section of the marketing plan supplies information about the company's current situation with respect to the ________________, the target market, and the firm's current objectives and performance.

environmental analysis; marketing environment

Zingerman's Deli operates seven retail stores throughout the city. It plans to develop a new marketing plan to extend its number of stores and operating hours. In developing this marketing plan, it has asked its employees for feedback on the changes it plans to makes. In this case, the employees are Zingerman's ____ customers.

internal

Hallaway's Corp.'s new shampoo, VS2, is faltering badly in the market. Hallaway's marketing personnel are unsure who is responsible for various marketing tasks, when these tasks are to be completed, or what resources have been allocated. Hallaway Marketing Director Carolyn Willis said that the problem is that VS2 has the most poorly written ____ she has ever seen.

marketing plan

Use the following to answer the questions. ​ Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company. Employees have been known to dress up in costume on an airplane, engage in "games" with the passengers, and generally provide a fun atmosphere for traveling. While other airlines have low rates of customer satisfaction, Southwest tends to maintain a high rating with its customers. Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum, adding to the negative experience of airline travel. Southwest keeps its costs low through several methods, one being that they do not serve meals on flights, or provide pre-boarding passes. The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country. Southwest is known for its low fares, its dependability, and its on-time flights. ​ Refer to Scenario 2.1. Maintaining the current culture of "fun" for Southwest Airlines' employees is most likely a(n)

overall organizational objective.

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

​You are meeting to discuss the proper categorization of marketing strategy costs in the monthly department budget performance report. You are especially interested in making sure the fixed and variable costs are properly categorized. ​ The major costs associated with the marketing strategy are as follows: Salesperson commissions Office space rent Office equipment rental Product raw materials Product manufacturing labor With respect to the variable or fixed nature of these costs,

we know that salesperson commissions, product raw materials, and product manufacturing labor costs are all variable costs

You are preparing the marketing budget for the next fiscal year and the finance department staff has given you the following guidelines to follow when estimating certain aspects of the budget: You should allocate $250,000 for the total annual office expense for the marketing department. For each marketing campaign that you plan to run, you should allocate $10,000 for supplies expense. For each new product introduction that you plan to execute, you should allocate $5,000 for travel expenses. You should allocate $25,000 for storage expenses for the entire year. With respect to the costs included in the guidelines communicated from finance you can conclude that

​travel expenses and supplies expenses are variable costs.