Marketing Graded Quiz 1 Chapter 2

Which of the following describes the relationships among the three planning levels, from broadest to narrowest?

Corporate strategy; business-unit strategy; marketing strategy

A firm's organizational mission should be derived from its goals

False

Marketing strategies should be established before marketing objectives are decided

False

The Boston Consulting Group approach is based on a philosophy that a products market growth rate and its market share relative to competition should be helpful in determining its marketing strategy

True

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets

True

The decisions made in creating a marketing mix are only as good as the organization's understanding of the target market

True

In many cases, companies that enter a market after innovative products have been introduced can achieve long-term competitive advantages by continuing to develop a better mousetrap. For example, Micro Pro was the first company to introduce a word processing program, but SSI concerned a large market share when it introduced the Word Perfect program. Today, however, Microsoft Word is the dominant-word processing software program and has continued to endure due to the popularity of the Microsoft Office Suite of products. MicroPros Word Star possessed a ______ advantage while Microsoft enjoyed a ______ advantage

First-mover; Late-mover

Business decisions made in creating a marketing mix

are only as good as the organizations understanding of the needs of the target market

Aroon's employer is currently developing a new marketing strategy. The top managers have developed the marketing strategy and have given it to Aroon so that she can now develop an implementation plan. Aroon's company will most likely end up with which type of strategy?

centralized

Cameron Dumphee runs the marketing dept. of a large electronics firm. This firm operates in an extremely competitive business environment. Cameron wants to ensure that he is involved in all the daily decisions and that there is a clear chain of communication between himself and his marketing employees. He believes that his extensive marketing experience makes him the best person for making all the major marketing decisions. Cameron believes all employees should act together as a cohesive unit and know their roles. Under Cameron, the marketing dept. most likely has a _______ structure

centralized

Jo's Coffee Shop wants to increase customer sat. Currently, only 75% of customers indicate they are satisfied with the services offered. In the next 6 months, it plans on implementing a number of changes to improve its services. Jo's Coffee plans to implement a survey at the end of the 6 months period to determine whether customer sat has improved. Jo's wants 90% of its customers to indicate they are satisfied with its service. This is an example of a ___________

marketing objective

Pantene's new shampoo, A01, is faltering badly in the market. Pantene'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. Svave Marketing Director Mei Lee said that the problem is that A01 has the most poorly written _______ she has ever seen.

marketing plan

A marketing objective should be expressed in clear, simple terms; be _________; specify a time frame for competition; and ensure the marketing objective is _____ with both business-unit and corporate strategies.

measurable; consistent

The owners of the newly created Colorado Steakhouse Corp. have conducted a SWOT analysis of its competition and sees a marketing opportunity for its new Colorado Steakhouse restaurant. They have developed its marketing plan to include the type of products it will sell, the location for the restaurant, and the pricing strategy 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 price of the marketing plan, which is __________

specifying their target market

C.J Foods, a pet food maker, purchased Lortscher Animal Nutrition Inc., a miller and ingredient suppliers, and now operates this division as a separate profit center within the firm. In this example, LANI is a _______ unit of C.J Foods

strategic business