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28 Cards in this Set
- Front
- Back
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marketing strategy planning means
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finding attractive opportunity and developing profitable marketing strategy
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a marketing strategy specifies
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a target market and a related marketing mix
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good marketing strategy planners know that
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target marketing does not limit one to small market segments
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target marketing in contrast to mass marketing
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focuses on failry homgeneous market segments
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the four ps
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product place promotion and price
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A firm's "marketing mix" decision areas would NOT include:
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people
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Which of the following is NOT one of the four variables in a marketing mix?
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payment
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"Product" is NOT concerned with:
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wholesale price
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Which of the following is NOT considered a product?
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all of the above are considered products
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Suzuki's 3 year/36,000 mile new car warranty is part of which marketing mix decision area?
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product
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"Place" is NOT concerned with:
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sales reps
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"Place" is NOT concerned with:
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telling the target market what products are available and where
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Scott Paper uses many middlemen to reach its target markets; Citibank uses none. Which of the marketing mix variables is being considered here?
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place
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"Promotion" is NOT concerned with:
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designing new products
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Personal selling lets the salesperson adapt the firm's marketing mix to a specific customer. This is an aspect of which marketing mix variable?
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promotion
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adverstising is
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any paid form of nonpersonal presentation of idea, goods, or services by an identified sponsor
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Catalogs, point-of-purchase materials, and free samples are all examples of:
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sales promotion
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price
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is affected by the kind of competion in the target market
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When developing a marketing mix, a marketing manager should remember that:
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price includes markups discounts allowances and geographic terms
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which of the following statements about marketing mix variables is false
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Generally speaking, "Price" is more important than "Place."
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An appropriate marketing mix should be determined PRIMARILY by
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the needs of a target market
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The text's "Toddler University" example shows that:
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the need of a target market determine the nature of the appropriate marketing
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The main difference between a "marketing strategy" and a "marketing plan" is that:
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time related details are included in a marketing plan
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The watch industry example in the text serves to illustrate that:
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a successful strategy often involves a marketing mix that is very different from what competitors have offered.
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It's best to think of "breakthrough opportunities" as opportunities which:
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help inovators develop hard to compy marketing mix
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Which of the following best illustrates a "breakthrough opportunity?"
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A drug company develops a patented pill that people can take once a year and safely avoid catching a cold.
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differentiation means that
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a firm's marketing mix is distinct from and better than what is available from a competitor.
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A S.W.O.T. analysis
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should help a manager develop a strategy that leads to a competitive advantage.
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