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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 31

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In value-based marketing,promotion communicates the:

A) targeted solution.
B) operational excellence strategy.
C) value proposition.
D) relative market value.
E) target market definition.

F) B) and D)
G) None of the above

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Question 32

Multiple Choice

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Which of the following is LEAST likely to provide a sustainable competitive advantage?

A) Lowering prices.
B) Having a well-known brand name.
C) Achieving high levels of customer satisfaction.
D) Using patented technology.
E) Creating an efficient supply chain.

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

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Question 33

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For many years,Southwest Airlines distinguished itself as the low-cost airline.Now,many other low-cost competitors have entered the market.Similarly,Southwest was one of the first airlines to offer online ticketing.Now,all airlines have online ticketing.These examples suggest that:

Anita has gone to the same hair salon for the past ten years.She believes that her stylist,the salon owner,does a better job of cutting and styling her hair than anyone else could.Other salons have opened closer to Anita's home,some offering more plush facilities or lower prices,but she isn't tempted to switch.Anita's attitude toward the salon is an example of:

What is the goal of product,operational,locational,and customer excellence?

Some banks have begun offering special accounts designed to attract junior high school students.These kids save in such small amounts that the accounts cost banks more to maintain than they are worth.But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers.These banks recognize:

Customer retention programs are based on what concept?

The goal of a customer excellence strategy is to gain loyal customers.Customer loyalty can be developed through:

Your new sales manager,who previously worked for Boston Consulting Group,directs each sales rep to "toss out the dogs," "exploit the stars," and "milk the cows." Translate this into everyday English: what is the sales manager asking the sales reps to do?

Samantha is charged with assessing her company's external environment as part of a SWOT analysis.Samantha will study her company's:

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to providing fast,courteous service in a clean,professional looking environment.Gerald's has used this strategy for over 40 years,expanding to 15 outlets.Gerald's Tire Store has created a ___________________ to create and deliver value and to develop a sustainable competitive advantage.

Portfolio analysis is a useful and powerful tool,but firms often need to take a more balanced approach because:

Suppose your university made a sizable investment in its career services--additional counselors,increased efforts to bring in recruiters,and other services aimed at helping students to find jobs.This investment would enhance the university's _____________ in an attempt to create value for students and recent graduates.

Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero.It has chosen to attempt to appeal to men with Coke Zero.In addition to launching an ad campaign featuring men enjoying Coke Zero,Coca-Cola also designed a "masculine" looking can for Coke Zero,with bold red lettering on a black background.This specially-designed can is an example of:

A former advertising campaign for Geico Insurance used the slogan,"So easy,even a caveman could do it" to emphasize the ease of buying insurance on Geico's website.This campaign was part of Geico's:

In July,2010,Microsoft discontinued the Kin,its social networking phone,after just six weeks of disappointing sales.During what step of the strategic marketing planning process would Microsoft have made the decision to stop offering the product?

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:

Maryam called her auto insurance agent to renew her policy.The agent told her about new types of insurance that are now available--to cover her apartment,or even the engagement ring she just got from her fiancé.The agent was pursuing a ________________ growth strategy.

Taking steps to encourage customer loyalty is one way to:

The "Implement Marketing Mix" step of the strategic marketing planning process is part of the control phase.