Question 1

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 the perception of the company in customers' minds. By moving away from its print-only photography image and positioning itself as a leader in digital photography, Kodak is repositioning its brand identity. Redefining the big idea involves changing the core concept behind the business, reshaping the business scope involves changing the range of products or services the company offers, redoing its corporate logo involves changing the visual representation of the brand, and researching competitors involves gathering information about other companies in the same industry.

Question 2

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

Accepted Answer

The answer of Indicate the differences and similarities between the...

Question 3

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.

Accepted Answer

The answer of A holistic marketing orientation can provide insight...

Question 4

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

Accepted Answer

The answer of Good mission statements are essential to being...

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 based on a specific market segment, which is the baby market.

Question 6

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 processing the order, sending it to a warehouse, and shipping it, which is characteristic of the fulfillment management process.

Question 7

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 addresses the needs and preferences of customers is an example of value creation, which is one of the four key elements of the holistic marketing framework. Value creation involves using insights from customer research, innovation, and design to create products and services that provide superior value to customers.

Question 8

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.

Accepted Answer

The "Intel Inside" campaign was designed to enhance customer value by building brand awareness and differentiating Intel's chips, allowing the company to charge a premium.

Question 9

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

Apex being one of the best in terms of costs and performance, it is likely that other companies will use it as a benchmark to measure their own performance and strive to improve.

Question 10

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

Netflix's distinctive capabilities include its fast delivery and a deep catalogue of titles, which set it apart from competitors.

Question 11

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.

Accepted Answer

The answer of The firm's success depends not only on...

Question 12

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's role involves planning for the short-term, day-to-day promotional releases of the company's products and services. This is a tactical planning function, which is focused on implementing and executing specific actions to achieve immediate goals, rather than overall long-term strategy (strategic planning) or targeting specific market segments (selective planning) or specialist areas (niche planning). The term "organizational planning" is too vague to definitively apply in this scenario.

Question 13

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.

Accepted Answer

The answer of Assume that you are directed to prepare...

Question 14

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

Gathering marketing intelligence, disseminating it, and directing action on the information is a part of the market-sensing process, which involves the systematic collection and analysis of information on external marketing opportunities and threats.

Question 15

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

Accepted Answer

The answer of A successful company nurtures its resources and...

Question 16

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.

Accepted Answer

The answer of During the planning process,if there is a...

Question 17

Briefly summarize the contents of a marketing plan.

Accepted Answer

The answer of Briefly summarize the contents of a marketing...

Question 18

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 statement of the company's purpose and vision, and it reflects the overall goals and values of the organization. In this case, Akio Morita's vision for everyone to have access to personal portable sound reflects the company's mission, which would be reflected in their mission statement.

Question 19

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

Accepted Answer

The answer of Briefly summarize the two views of the...

Question 20

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

Accepted Answer

The answer of Identify and give examples of the four...

Quiz 2: Developing Marketing Strategies and Plans