109 notecards = 28 pages (4 cards per page)
The task of any business is to ________.
What is the traditional view of marketing?
Value delivery process can be divided into three phases, out of which "choosing the value" implies _______, which is the essence of strategic marketing.
Apex Corporation is one of the best in its industry in terms of costs and performance. Many companies in its industry will probably consider Apex as a ________.
James Frank has been put in charge of gathering marketing intelligence, disseminating it within his organization, and eventually directing action on the information. Mr. Frank's task is best described as part of the ________.
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 ________.
Today, the "mass market" is actually splintering into numerous segments, each with its own wants, perceptions, preferences, and buying criteria. This implies that ________.
The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.
The last step in the value creation and delivery sequence is ________ the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product.
In the cycle of complete strategic planning, taking corrective action is a part of ________.
The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).
Michael Porter's value chain would identify which of the following as a support activity?
Which of the following can be considered a primary activity in the value chain process?
The fulfillment management process includes all the activities in ________.
With respect to core business processes, the ________ includes all the activities involved in gathering external information, disseminating it within the organization, and acting on the information.
With respect to the core business processes, the ________ includes all the activities involved in developing, and launching high-quality products quickly and within budget.
Activities involved in building deeper understanding of existing consumers and what the product offerings mean to them would be a part of ________.
________ allows the company to discover who its target markets are, how they behave, and what they need or want. It also enables the company to respond appropriately, coherently, and quickly to different customer opportunities.
Another way to describe a supply chain, where companies partner with specific suppliers and distributors to ensure a smooth functioning of the system, is to call it a ________.
The key to utilizing organizational core competencies is to ________ that make up the essence of the business.
________ has three characteristics: (1) it is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits; (2) it has applications in a wide variety of markets; and (3) it is difficult for competitors to imitate.
Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.
Holistic marketers achieve profitable growth by expanding customer share, ________, and capturing customer lifetime value.
The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions?
As Kodak addresses the digital revolution taking over the photographic industry, it wants customers to see it as a leader in digital photography. Thus, it is moving away from the production of film roll cameras. This would be an example of which of the following value creation steps?
Of the four organizational levels, the corporate level is likely to take which of the following decisions?
Most large companies consist of four organizational levels: the corporate level, the ________, the business unit level, and the product level.
During Jill's market research study, many customers indicated that traditional oven mitts made it very difficult to hold baking dishes, resulting in frequent spills. 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.
The marketing plan, the central instrument for directing and coordinating the marketing effort, operates at ________ levels.
The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.
Which of the following plans would most likely include directions for implementing and addressing daily challenges and opportunities in product features, promotion, merchandising, pricing, sales channels, and service areas?
Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?
Juan Garcia plans the daily promotional releases about his company's products and services. He can be described as a(n) ________ planner.
A clear, thoughtful mission statement provides employees with a shared sense of purpose, direction, and ________.
Mission statements are at their best when they reflect a ________.
Which of the following is one of the five major characteristics of good mission statements?
The ________ is the number of channel levels, from raw materials to final product and distribution, in which a company will participate.
Gerber primarily serves the baby food market. In choosing to focus on this market, Gerber is defining its competitive sphere on the basis of ________.
While viewing businesses in terms of customer needs can suggest additional growth opportunities, a ________ tends to focus on selling a product or service to a current market.
What are hollow corporations?
A ________ of a business focuses on selling a product or service to an existing market.
Which of the following is best described as a market-oriented business definition?
A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.
A strategic-planning gap can be corrected by ________.
Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.
Which of the following is an example of growth by diversification?
A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n) ________ strategy.
Which of the following is an example of intensive growth?
If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.
Once Starbucks had established its presence in thousands of cities internationally, the company sought to increase the number of purchases by existing customers with a ________ strategy that led to new in-store merchandise, including compilation CDs and high-speed wireless access.
Qantas, the Australian national carrier, introduces flights to the Middle East. This is an example of ________.
A(n) ________ is when a company might seek new businesses that have no relationship to its current technology, products, or markets.
Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?
When it was first launched, Google's paid search platform represented a new strategy for revenue generation on the Internet. This is an example of innovation along which of the following dimensions?
The first step in the business unit strategic-planning process deals with which of the following?
Through its cutting-edge point-of-sale inventory management technology and highly efficient shipping practices, Walmart is able to keep its inventory expenditure extremely low and to pass these savings on to consumers in the form of low prices. Walmart's strategy is best described as ________.
When a firm aims to underprice competitors and win market share, it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies.
After analyzing their company's strengths and weaknesses, top managers at Loan Bright decided that they would serve individual loan officers who typically only wanted to purchase small sets of homebuyer data, rather than bigger institutional clients. To meet the needs of this segment, Loan Bright simplified its sales contract, restructured its advertising efforts to focus on Google ads, and created a separate customer-service department. Loan Bright's strategy is best described as a(n) ________ strategy.
Unlike its competitors in the online air travel industry, Travelocity provides its customers with a greater variety of services such as cruise reservations, package tours, hotel bookings, and car rentals. This is an example of a(n) ________ strategy.
McDonald's has often teamed up with Disney to offer products related to current Disney films as part of its meals for children. The best description of this form of alliance would be a(n) ________.
Abbot Laboratories warehouses and delivers 3M's medical and surgical products to hospitals across the United States. The best description of this form of alliance would be a(n) ________.
MasterCard and Visa may team up with university alumni associations to offer affinity credit cards that typically display an iconic image associated with the university on the card itself and may include an incremental donation program associated with purchases made using the card. The best description of this form of alliance would be a ________.
When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.
When one company licenses another to produce its offerings, or two companies jointly market their complementary offerings, it is called a ________.
To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage strategic alliances as core skills. This is called ________.
Which of the following statements is true of marketing plans?
Which of the following elements of a marketing plan permits senior management to grasp the plan's major thrust?
The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.
The ________ is the last section of the marketing plan and spells out the goals and budget for each month or quarter, so management can review each period's results and take action as needed.
The traditional view of marketing is that the firm makes something and then sells it.
Marketing goods that are currently in short supply would require significant marketing talent.
The traditional view of marketing works best in economies with many different types of people, each with individual wants, perceptions, preferences, and buying criteria.
In the communication stage of the value creation and delivery sequence, marketing must determine specific product features, prices, and distribution channels.
The customer relationship management process involves all the activities related to receiving and approving orders, shipping the goods on time, and collecting payment.
The new-offering realization process involves all activities in defining target markets and prospecting for new customers.
A principle of the value chain is that every firm is a synthesis of activities performed to design, produce, market, deliver, and support its product.
Another name for a company's value delivery network is "distribution chain."
Competitors in a given industry can be identified by the similarities in their core competencies.
A firm's core competency has applications only in the specific market in which the firm operates.
Holistic marketing focuses on the integration of value exploration, value creation, and value delivery as a means to build long-term relationships with consumers.
When a manager is trying to identify how the company can efficiently create promising new offerings , he is addressing the question of value delivery.
The marketing plan is the central instrument for directing and coordinating the marketing effort.
A strategy is a game plan for achieving what the business unit wants to achieve.
Mission statements that express unrealistic visions are usually unable to inspire employees to achieve their targets.
Good mission statements should be long and clear, should emphasize on a wide range of goals, and stress on the company's major policies and values.
If Xerox Corporation defined its scope of business as "making copying equipment", it can be classified as a marketing definition.
An intensive growth strategy involving marketing current products to new markets is a market-development strategy.
A company seeking to expand the number of existing products sold to its current markets, would be using a "market-penetration strategy."
If a company sought to grow by starting new businesses that have no relation to its current technology, products, or markets, the company would be using a market penetration strategy.
"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.
An environmental threat is a challenge posed by an unfavorable trend or development that, in the absence of defensive marketing action, would lead to lower sales or profit.
Internal analysis in SWOT involves analyzing the possible opportunities and threats that can come from the market.
Once a SWOT analysis has been completed, the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.
In applying MBO (management by objectives) all objectives are treated as being equally important.
For an MBO (management by objectives) system to work, one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.
Contrary to popular belief, it is not possible to maximize sales and profits simultaneously.
A firm that is always working to improve its product offerings such that consumer needs are addressed more efficiently is following a differentiation strategy.
A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.
Partner relationship management is now considered as a core skill fundamental to the development and maintenance of strategic alliances.
Firms directing the same strategy to the same target market constitute a strategic group.
A written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives is called a vision statement.
Marketing plans are becoming more production oriented because of the high costs of doing business in today's economy.
A marketing plan should open with a situation analysis.
Definitions of a firm's mission as well as its marketing and financial objectives are included in the marketing strategy section of the marketing plan.
Sales forecasts, expense forecasts, and break-even analysis are usually found in the section on financial projections in the marketing plan.
A marketing plan is evaluated on the basis of how simple, specific, realistic, and complete it is.
Good marketing plans are usually short and to the point.
Most marketing plans conclude with a section that indicates how the plan will be implemented.
The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.