A Framework For Marketing Management - Chapter 2

Front 1

Marketing involves satisfying customers' needs and wants; the task of any business is to deliver ________.

Back 1

value at a profit

Front 2

The firm's task is to examine its ________ and ________ in each value-creating activity and look for ways to improve.

Back 2

costs; performance

Front 3

Value delivery networks are also called ________.

Back 3

supply chain

Front 4

The holistic marketing orientation provided insights into the process of capturing ________.

Back 4

customer value

Front 5

All of the following are levels of strategic planning EXCEPT ________.
corporate level
division level
business unit level
product level
department level

Back 5

department level

Front 6

Shaping of experiences, beliefs, and stories make up what is known as the ________.

Back 6

corporate culture

Front 7

Porter proposed three strategies that form a good starting point for strategic thinking. They include overall cost leadership, differentiation, and ________.

Back 7

focus

Front 8

All of the following are ways to measure key aspects of the marketing plan's performance EXCEPT ________.

sales analysis
market share analysis
trending analysis
marketing expense-to-sales analysis

Back 8

trending analysis

Front 9

Overall market share represents ________.

Back 9

Company sales expressed as a percentage of total market sales.

Front 10

Managers can check whether the company is overspending to achieve sales goals by examining the ________.

Back 10

marketing expense to sales ratio

Front 11

T/F: Development of the right marketing strategy requires both discipline and documentation.

Back 11

False

Front 12

T/F: Successful firms look for competitive advantage beyond their own operations.

Back 12

True

Front 13

T/F: Holistic marketing orientation can provide insight into the process of capturing customer value.

Back 13

True

Front 14

T/F: The four levels of strategic planning include corporate, division, department, and product.

Back 14

False

Front 15

T/F: A business can be defined in terms of three dimensions: customer groups, customer needs, and technology.

Back 15

True

Front 16

T/F: The purpose of identifying the company's strategic business units is to develop separate strategies and assign appropriate funding to the entire business portfolio.

Back 16

True

Front 17

T/F: Business strategy consists of a marketing strategy plus a compatible technology strategy and sourcing strategy.

Back 17

True

Front 18

T/F: Implementation management involves careful attention to detail, excellent people skills, flexibility, and a sense of urgency.

Back 18

True

Front 19

T/F: A marketing plan is a written document that summarized what the marketer has learned about the marketplace and how the firm plans to reach its marketing objectives.

Back 19

True

Front 20

T/F: A customer performance scorecard records how well the company does on a short-term basis.

Back 20

False

Front 21

Identify the four planning activities that all corporate headquarters must undertake and why.

Back 21

Defining the mission; establishing strategic business units; assigning resources to each strategic business unit; and assessing growth opportunities. Corporate headquarters is responsible for designing a strategic plan that guides the entire enterprise and allows for the best decision-making capabilities.

Front 22

Why is creative implementation of marketing important?

Back 22

Creative implementation translates good marketing strategy into profits. Creative implementation involves attention to detail, excellent people skills, flexibility, and a sense of urgency.

Front 23

Developing the right marketing strategy requires a blend of _________ and _________.

Back 23

discipline; flexibility

Front 24

All of the following are core business processes EXCEPT ________.
the customer acquisition process
the customer relationship management process
the customers payment plan
the fulfillment management process
the new offering realization process

Back 24

the customers payment plan

Front 25

The holistic marketing framework addresses three key management questions; they are value exploration, value creation, and ________.

Back 25

value delivery

Front 26

Good mission statements focus on ________.

Back 26

goals; policies; values; major competitive spheres

Front 27

The purpose of identifying the company's strategic business unit is to ________.

Back 27

develop separate strategies and assign appropriate funding to the entire business portfolio

Front 28

The Royal Dutch/Shell Group has pioneered ________.

Back 28

scenario analysis

Front 29

SWOT analysis is an overall evaluation of a business's strengths, weaknesses, opportunities, and ________.

Back 29

threats

Front 30

________ can translate a good marketing strategy into great profits.

Back 30

Creative implementation

Front 31

The marketing plan contain typically contains the following basic sections EXCEPT ________.

situation analysis
marketing strategy and programs
financial projections
short term planning
implementation controls

Back 31

short term planning

Front 32

The return on assets is the product of two ratios, the ________ and ________.

Back 32

profit margin; asset turnover

Front 33

T/F: Firms must abandon their strategy for improvement to customer values.

Back 33

False

Front 34

T/F: Michael Porter proposed the value chain as a tool for identifying ways to create more customer value.

Back 34

True

Front 35

T/F: A core competency is easy for competitors to imitate.

Back 35

False

Front 36

T/F: Mission statements once formulated should not be revised in response to every new economic development.

Back 36

True

Front 37

T/F: Integrative growth is always accomplished through forward integration or horizontal integration.

Back 37

False

Front 38

T/F: The Royal Dutch/Shell Group pioneered scenario analysis.

Back 38

True

Front 39

T/F: Market opportunity analysis (MOA) is conducted prior to the SWOT analysis.

Back 39

False

Front 40

T/F: Implementation management requires attention to detail, excellent people skills, flexibility, and a sense of urgency.

Back 40

True

Front 41

T/F: In a recent study by Accenture, 70 percent of marketing executives stated that they did have a handle on the return on marketing investments.

Back 41

False

Front 42

T/F: Marketing-mix models analyze data from a variety of sources.

Back 42

True

Front 43

Explain the process that is conducted after the SWOT analysis.

Back 43

After the SWOT analysis is conducted, the specific goals for the planning period are conducted, called goal formulation.

Front 44

What is a marketing plan?

Back 44

A marketing plan is a written document that summarizes what the marketer has learned about the marketplace and how the firm plans to reach its marketing objectives. It incorporates both the strategic and tactical levels.

Front 45

What is Holistic marketing concept?

Back 45

the holistic marketing concept is based on development, design, and implementation of marketing programs, processes, and activities that recognize thier breadth and interdependencies. holistic marketing recognaize that "everything matters" with marketing and that a broad, integrated perspective is often necessary. four compnents of holistic marketing are: relationship marketing - integrated marketing - internal marketing - and socially responsible markiting.

Front 46

strategic business unit

Back 46

understood as a business unit within the overall corporate identity which is distinguishable from other business because it serves a defined external market where management can conduct strategic planning in relation to products and markets. When companies become really large, they are best thought of as being composed of a number of businesses (or SBUs).