Question 1

Briefly summarize the contents of a marketing plan.

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Question 2

Netflix,the pioneer online DVD rental service,has several ________,including fast delivery and a deep catalogue of titles for customers to choose from.

Accepted Answer

Distinctive capabilities refer to unique strengths that set a company apart from its competitors. Netflix's fast delivery and extensive selection of titles are examples of distinctive capabilities that have helped make it a leader in the online DVD rental market. The other answer choices are not relevant or do not accurately describe Netflix's strengths.

Question 3

Sony's former president,Akio Morita,wanted everyone to have access to "personal portable sound," so his company created the Walkman and portable CD player.This vision was reflected in the company's ________.

Accepted Answer

A mission statement is a company's statement of purpose, outlining what it aims to achieve and how it plans to achieve it. Morita's vision for creating portable music devices for everyone to have access to personal portable sound reflects the mission statement of Sony.

Question 4

Apex Corporation is one of the best in its industry in terms of costs and performance.Many companies will probably use Apex as a ________.

Accepted Answer

Companies would likely use Apex as a benchmark, meaning they would measure their own costs and performance against those of Apex to determine how they compare and where they may need to improve.

Question 5

Gerber serves primarily baby food.In choosing to focus on the baby market,Gerber is defining its competitive sphere on the basis of ________.

Accepted Answer

Gerber is defining its competitive sphere on the basis of market segment, specifically the baby food market.

Question 6

Good mission statements are essential to being a success in business.Describe the three major characteristics that good mission statements should have.

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Question 7

The firm's success depends not only on how well each department performs its work,but also on how well the various departmental activities are coordinated to conduct core business processes.List and briefly describe the five core business processes outlined in the text.

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Question 8

Identify and give examples of the four major categories of strategic alliances.

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Question 9

As Kodak addresses the digital revolution taking over the photographic industry,it wants customers to see it as a leader in digital photography and is moving away from its connection to print-only photography.This would be an example of which of the following value creation steps?

Accepted Answer

Repositioning the company's brand identity involves changing how customers perceive the company, its values and offerings. By moving away from its traditional print-only photography image and positioning itself as a leader in digital photography, Kodak is repositioning its brand identity. Redefining the big idea involves identifying new market opportunities; reshaping the business scope involves changing the company's products or services; redoing the corporate logo involves changing the visual representation of the brand; and researching competitors involves gathering information about competitors to gain a competitive advantage. None of these directly address Kodak's efforts to position itself as a leader in digital photography.

Question 10

James Franks has been put in charge of gathering marketing intelligence,disseminating it within his organization,and eventually directing action on the information.Mr.Franks' task is best described as part of the ________.

Accepted Answer

Mr. Franks' task of gathering marketing intelligence, disseminating it within his organization, and directing action on the information is part of the market-sensing process. The market-sensing process involves activities related to gathering and analyzing market information to understand customer needs and preferences, market trends, and competitive activities. This information is then disseminated within the organization to enable more informed decision-making and create a customer-centric approach to marketing.

Question 11

Indicate the differences and similarities between the following terms: marketing plan,strategic marketing plan,and tactical marketing plan.

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Question 12

During the planning process,if there is a gap between future desired sales and projected sales,corporate management will need to develop or acquire new businesses to fill it.Identify and describe the three strategies that can be used to fill the strategic gap.

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Question 13

A successful company nurtures its resources and competencies.A core competency has three characteristics.Describe those characteristics.

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Question 14

Briefly summarize the two views of the value delivery process that may be followed by organizations seeking to gain business from consumers.

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Question 15

A holistic marketing orientation can provide insight into the process of capturing customer value and is designed to address three key management questions.Describe and illustrate each of these key management questions.

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Question 16

Juan Garcia is seen as a ________ planner because he plans the daily promotional releases about his company's products and services.

Accepted Answer

Juan Garcia is planning daily promotional releases, which suggests a focus on short-term, specific actions. This aligns with the definition of tactical planning, which involves the detailed planning of specific actions to achieve short-term goals. Strategic planning is more focused on long-term goals and overall direction, while selective, niche, and organizational planning are not appropriate choices for the given scenario.

Question 17

Assume that you are directed to prepare a short brief explaining the steps of the Business Unit Strategic Planning Process.Your task is to construct such a brief by carefully outlining the steps of the aforementioned process.

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Question 18

During Jill's market research study,many customers indicated that traditional oven mitts made it very difficult to hold cooking utensils,pots,and baking dishes,resulting in frequent spills and burns.Jill brought her findings to the research department,and her company leveraged its engineering and design competencies to develop a new hand-held hot-pad that allows for significantly greater dexterity in handling hot cooking implements,while protecting the cook from burns.This is an example of the ________ element of the holistic marketing framework.

Accepted Answer

The development of a new hand-held hot-pad that allows for greater dexterity while protecting the cook from burns is an example of value creation, which is one of the elements of the holistic marketing framework. The company leveraged its engineering and design competencies to create a product that met the needs of customers, as identified through market research.

Question 19

When a customer places an order at BookBox.com,the company processes the customer's payment information,sends the order to the nearest warehouse,and ships the order via FedEx.This is best described as the ________.

Accepted Answer

The process described involves the processing of payment information, sending the order to a warehouse, and shipping the order, which are all part of the fulfillment management process.

Question 20

Intel's breakthrough "Intel Inside" marketing campaign built awareness of the brand in an attempt to improve perceptions of ________ and differentiate its chips from those of other competing manufacturers.This strategy allowed Intel to charge PC manufacturers a premium for its chips.

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Quiz 2: Developing Marketing Strategies and Plans