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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 61

True/False

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Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a Weakness.

A) True
B) False

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Question 62

Multiple Choice

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Allen is in the marketing department of a mid-sized firm that develops and sells communications systems.He is proud of the Human Resources area in the company that provides the firm with excellent employees.Allen himself really enjoys his work,but he knows the work of HR helps create an advantage for the firm because:

A) customers appreciate the kind of service that knowledgeable employees provide.
B) employees play a major role in the success of the firm.
C) it is easier to communicate with and inspire the customer if the employees believe in what the firm is doing.
D) building customer loyalty depends on a committed workforce.
E) All of these.

F) B) and E)
G) B) and D)

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Question 63

Multiple Choice

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Starbucks has developed a number of metrics beyond purely financial metrics.Knowing the importance of perceptions and knowing the importance of developing ways to demonstrate its activity,Starbucks tries to find clear ways to:

Heather has been assessing a number of her firm's products using the Boston Consulting Group approach to portfolio analysis.She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors.Heather is trying to determine:

Over the last few months,Juan and his colleagues have analyzed the current business situation,and then identified target markets for his firm's personal care products.Finally,they developed the products,prices,distribution and promotion that should appeal to each of those target markets.In doing so,Juan has also identified what he believes is an advantage his competitors cannot match.Juan and his colleagues have been developing:

To build a sustainable competitive advantage,companies should focus on a single strategy.

One example of a customer loyalty program is:

For many years,because of the size of the U.S.economy,domestic companies ignored international markets,preferring instead to develop new product offerings for existing customers.These companies were pursuing a ________________ strategy.

Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantage?

Quitman Enterprises sells its business language dictionary to college students throughout the United States.Joseph Quitman,the owner,wants to start selling the book to international students abroad.Quitman wants to pursue a __________________ growth strategy.

Marketers want their firms to develop efficient operations because this kind of efficiency:

You and your friend Alison work in different parts of a large firm.In a recent analysis,your area was labeled a "cash cow" and hers was labeled a "question mark." What things would you do differently in your area than Alison would do in hers?

STP refers to segmentation,testing,and promotion.

Boston Consulting Group's Portfolio Analysis classifies a company's products or product lines into a two-by-two matrix.What are the bases of classification and what are the products or product lines in each of the four quadrants called? What marketing strategies are usually considered for each of the four classifications?

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test.You might notice the packaging,colors,labels,even the fonts used on labels.All of these efforts are part of the marketer's:

When musicians and their concert promoters began offering CDs of a live concert,immediately after the concert ended,what type of growth strategy were they pursuing?

When discussing the marketing planning process,STP stands for:

The marketing planning process always proceeds sequentially through the five steps.

Many of today's college graduates will make their livings providing goods and services to "baby boomers," the large group of Americans born in the period after World War II.Baby boomers are a _________________ market segment.

Craig sees that his company's quarterly sales and profits are significantly above projections and says,"That's great.Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process.