A written summary of the firm's marketing objectives, strategies, and specific courses of marketing action that also includes information on the assignment of personnel, budgets, and timetables is the: Show Which type of 'positioning' strategy is probably your best bet for products that cannot be differentiated from those of competing brands based on physical characteristics or benefits delivered With respect to the product-market matrix, the least risky area of market opportunity and those areas firms are advised to investigate first are: a. Joint development opportunities b. Product development opportunities c. Diversification opportunities d. Market development opportunities e. Market penetration opportunity b. product development opportunities Firms that define their missions from a "market" as opposed to a "product" perspective are less likely to become victims of _________. The __________ is the first section of the marketing plan however it is typically the last section to be drafted. Which of the following are components of the strategic marketing process? ABC Electonics, Inc. is reviewing progress made on its strategic marketing efforts. Management is very concerned that the reward mechanisms built into its marketing plan inadequately motivate proper decision making and is considering a revision to its strategic marketing plan. ABC is operating at the ___________ stage of the
strategic marketing process. Which of the following is not a component of SWOT? Target market identifcation As part of the industry analysis component of SWOT analysis, marketing managers try to identify those 'factors' that firms in the industry must possess to survive and remain competitive. These factors are called: Russell Haley conducted a rather classic piece of research into how the toothpaste market could be segmented. Which of the following segments is predominantly male, shops mainly on price and does not look for any specific benefit from brands of toothpaste? Which of the following is least correct about the implementation stage of the strategic marketing process? Effective implementation of a marketing plan generally is easier than devising the marketing plan itself. Microsoft recently introduced Windows 8. The changes included in the version of Windows essentially are fixes to problems encountered with Windows Vista, along with additional modification of the operating system for the tablet applications, this is an example of a ___ opportunity. ABC Electronics, Inc. produces custom information systems solutions for small to medium-sized firms in the hospital supply industry. These firms constitute ABC’s _________ . When searching for new market opportunities, which area of product-market focus is least likely to take the firm beyond its current mission? The Boston Consulting Group Growth-Share Matrix is designed to help firms with: Haggar Apparel, one of the United States' largest producers of ready-made custom-fit suits, has responded to the dress-down trend at work by adding jeans and a "relaxed, yet tailored" line of suits called City Casuals. Haggar anticipates that its current customers will be the primary consumers of the new line. According to the product-market matrix, Haggar Apparel is pursuing an opportunity of: Shannon’s Brewery targets its craft beers to more affluent millenial consumers living in upscale suburbes in the DFW area. Shannons positions its beers as fire-brewed Irish ales of superior quality using natural spring waters. This desired position has been crafted using a judicious combination of marketing
communications, public relations efforts, and some very positive publicity. In terms of the marketing plan the above description illustrates Shannon’s ____________ . Marketing Strategic Focus In terms of the Boston Consuling Group’s Growth-Share Matrix _______ are low market share products competing in low growth or declining markets. A product's position refers to _____. an image of the product in the consumer's mind relative to competing products The __________ component of the marketing plan identifies the intended target markets that will be served, the market positions that will be sought, and generally describe how these markets will be served and the desired positions achieved. Marketing Strategic Focus Which of the following contributes to a 'good' mission statement? Mission statement builds on the firm's distinctive competencies The MOA is generally considered to be conducted as part of the: DFW Security Services targets high income professionals with custom-designed security systems. These systems are positioned as the premier systems availabe on the market. DFW Security employes a highly refined marketing mix to support its intended market position with target customers. What has just been described amounts to DFW’s
__________ . Innovative software traditionally defined its mission as 'developing innovative spread-sheet applications.' Consultants hired by Innovative Software argue that the firm is defining its mission too narrowly, from a 'product perspective.' To avoid falling into the trap of 'marketing myopia,' how would you recommend that Innovative Software redefine its mission? Focus on software solutions for meeting customer's applications-related needs. a marketing strategy consists of selecting a target market and developing a marketing mix to satisfy it A product's ________________ is theimage it projects in relation to competitive products as well as to otherproducts marketed by the same company. The product-market expansion grid is a useful way to view the range of potential market opportunities availale to firms. The dimensions of the grid are new vs. exiting products and new vs. existing _____________________________ The firm’s marketing objectives, its marketing strategies, and
its associated implementation and control activities are referred to as ____________. Which of the following contributes to a 'good' mission statement? Mission statement builds on the firm's distinctive competencies The process of subdividing larger, diverse product-markets into more homogeneous submarkets as part of the MOA best illustrates: The mangerial act of developing, implementing, and controlling marketing programs is called ___________. The marketing management process Which of the following is least associated with
Key Success Factors (KSFs)? Are essential components of the 'controlling' phase of the marketing management process The firm's ___ is statement of company purpose, identifying the business in which the firm perceives itself to be; it is a statement of the firm's primary areas of production and market focus. a. Marketing concept b. Business objective c. Business philosophy d. Mission e. Vision A firm is investigating the existence of powerful suppliers and the existence of potential entry or exit barriers. The firm is conducting this investigation as part of the _______ . With respect to the product-market matrix, the most risky areas of market opportunity and those areas firms are
advised not to investigate first are: Diversification opportunities Wendy's ran a series of commercials employing the tagline "where's the beef?" The implication was that Wendy’s burgers were bigger than those of McDonalds and Burger King. The positioning strategy in these ads illustrates: Remington Arms continually monitors the environment for social and cultural changes that may open new markets for the sales of its weapons. This type of analysis is usally part of the __________ . Which of the following is not part of the controlling stage of the strategic marketing process? All of the above are considered part of the controlling process. Firms engaged in a MOA are least likely to pursue a __________________ opportunity if they wish to remain within the bounds of their firm's current mission. With respect to marketing planning, the type of plan that tends to be very detailed in nature and typically covers a year or less is the: The slide rule industry defined its
mission as building and selling slide rules rather than meeting customers’ problem-solving needs. As a result of this product-focused mission statement, the industry has been accused of __________ . Remington Arms continually monitors the legal-political environment for changes in legislation that may adversely impact the sales of its weapons. This type of analysis is usally part of the __________ . Remington Arms is investigating its capacity to exploit new markets. Specfically, the firm is critically evaluating its available capital, technical and managerial expertise, and plant capacity. Remington evidently is conducting the ____________ component of SWOT analysis. A firm is engaged in assessing the relative size of a market segment in terms of unit and dollar sales along with its potential market share in that segment. The firm is conducting the _____________ component of the SWOT analysis. Which of the following is not part of the controlling stage of the strategic marketing process? If the owner of a children's day-care center were to answer the question, "what business are you in?" with the statement, "We nurture children and provide them with a homelike environment
that keeps their separation anxieties to a minimum", it would be identifying its _______. In terms of the Boston Consuling Group’s Growth-Share Matrix _______ are high potential products with limited market share but are competing in high growth markets. Which of the following is a component of the SWOT analysis? All of the above are components of SWOT. he National Football League (NFL) has expanded into various cities in Western Europe including Barcelona and London. Now Europeans can watch football just as its played in the U.S. According to the product-market growth matrix, the NFL is using a strategy of _______________ development When marketing managers attempt to identify "Key Success Factors" they typically are engaged in the _________________ component of the strategic marketing planning process. ABC Electonics, Inc. is reviewing progress made on its strategic marketing efforts. Management is very concerned that its marketing objectives have not been achieved and is considering a revision to its strategic marketing plan. ABC is operating at the ___________ stage of the
strategic marketing process. In terms of the Boston Consuling Group’s Growth-Share Matrix _______ are high market share products competing in mature, average growth markets. Firms that define their missions from a strict ‘product’ perspective often miss many marketing opportunities as a result. This phenomenon is referred to as ________ The market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts. Firms that have been accused of marketing myopia generally have defined their missions from a ______________ perspective. The product-market matrix is a useful way to view the range of potential market opportunities available to firms. The dimensions of the matrix are new vs. exiting products and new vs. existing ________ Proper supervising and staffing are among the key considerations of managers during the ____________ stage of the strategic marketing process. Which of the following is least correct about the implementation stage of the strategic marketing process? Effective implementation of a marketing plan generally is easier than devising the marketing plan itself. Good mission statements posses a number of characteristics. Which of the following is not among them? Focus on defining mission as building and selling specific products. After a company establishes its goals and objectives, it might then develop a broad plan of action to reach the goals. This broad plan of action is called a policy. In which phase of the strategic marketing process are actual results compared against objectives? The railroad industry at the turn of the century continued to define its mission as building and running railroads rather than meeting customers’ transportation needs. As a result of this product-focused mission statement, the industry has been accused of __________ . In terms of the Boston Consuling Group’s Growth-Share Matrix _______ are high market share products competing in markets that are growing at an above average rate. What is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts?A target market is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service.
Is defined as a market segment on which an organization focuses?Target Market. Which of the following terms refers to the market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts? Targeting. Which of the following is the second step in the target marketing process? Customized marketing strategy.
What is the term for segmenting markets?Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action.
What are the 4 types of market segmentation explain each?There are four main customer segmentation models that should form the focus of any marketing plan. For example, the four types of segmentation are Demographic, Psychographic Geographic, and Behavioral. These are common examples of how businesses can segment their market by gender, age, lifestyle etc.
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Which of the following terms refers to the market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts?
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