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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 41

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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.

A) market penetration
B) market development
C) segment development
D) diversification
E) product development

F) A) and E)
G) A) and C)

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Question 42

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Delta Airlines is among the companies experimenting with selling products and services on its Facebook pages. The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices. There is no need even to navigate to Delta's website--users can book a trip in Delta's Ticket Agent application without ever leaving Facebook. Which element of the marketing mix does this represent?

A) product and value creation
B) price and value capture
C) place and value delivery
D) promotion and value communication
E) positioning and value promotion

F) C) and D)
G) A) and B)

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Question 43

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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?

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 marketing strategy identifies three things: ________, a related marketing mix, and the bases on which the firm plans to build a sustainable competitive advantage.

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of a threat?

Nordstrom's, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service has probably resulted in

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?

Adrienne decides to add new sales representatives and increase advertising in her existing market for her current line of security systems. Adrienne is pursuing a __________ growth strategy.

Zara is a women's clothing retailer headquartered in Spain, with stores located in many countries. Zara has developed a quick-response system that allows store merchandise to be adjusted rapidly to fit changing customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult for competitors like The Gap to duplicate. Zara has established

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

Firms are typically more successful when they focus on opportunities that build on their competitors' strengths.

In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called

Although most people do not have a personal marketing plan, when would one be appropriate?

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 catalog companies send sale catalogs to their current customers, which type of growth strategy are they pursuing?

Using the BCG portfolio analysis, a dog should be phased out unless

Strong supplier relations and efficient supply chains help firms such as Walmart to achieve operational excellence.

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been here since 1951." This is part of these firms'