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Marketing 353 Final > Chapter 7 > Flashcards

Flashcards in Chapter 7 Deck (55)
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20. The _____for an organization assembles all the pertinent facts about the organization, the markets it serves, and its products, services, customers, and competition.

marketing plan

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21. The written marketing plan must reflect the goals of top management and:

be consistent with company's mission and capabilities

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22. What is the first step in the traditional top-down marketing plan?

conducting a situation analysis

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23. Black Hills Distributing has just completed a detailed, factual study of the distribution company's current situation and how it got there. Its next step in the development of its marketing plan is to:

determine specific marketing objectives

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24. What is the most common format used to develop a marketing plan?

top-down

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25. Baxter International, Inc., maintains manufacturing facilities around the world, one of which in North Carolina is the world's largest manufacturer of IV solutions in flexible containers. A(n) _____ would reveal to Baxter changes in its environments that the company would need to address to maintain its standing as the leading producers of IV solutions in flexible containers.

situation analysis

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26. The exhibition and trade show industry, after decades of fabulous growth, is experiencing business declines. The _____ for the Center for Exhibition Industry Research, reported, "The exhibition industry will face more competition for marketing dollars in the next five years than it has in the last 25 years."

situation analysis

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27. Pyramid Breweries Inc. has stated that partnering with committed wholesalers capable of delivering first class customer service is an important _____ objective for the company if the microbrewery is to maintain its reputation for customer satisfaction.

corporate

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28. _____ objectives can be stated in terms of profit, return on investment, net worth, growth, or corporate reputation.

Corporate

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29. Within a timeframe of five to seven years, Orco Construction Supply, a specialty distributor of tools and hardware to framing and foundation contractor markets in California, Arizona, and Nevada plans to hit a revenue mark of $500 million which will more than double its 2003 gross sales that are expected to approach $200 million. This would be an example of a(n) _____ objective.

sales-target

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30. _____ objectives can be categorized as either general need-satisfying objectives or specific sales-target objectives.

Marketing

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31. Why would a company set need-satisfying objectives?

to shift the organization's view from a production orientation to concern for the needs of its target market

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32. Harry & David is a catalog retailer that specializes in fruit gifts, but it does not see itself as just a merchant of fruit. By setting _____ objectives, the retailers views itself as a gift provider.

need-satisfying

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33. Assume a bakery that wholesales gourmet pies and cakes to upscale restaurant chains has developed marketing objectives. Which of the following is the BEST sales-target objective for the bakery to use?

to increase sales of pecan pies by 3 percent during the next six months

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34. _____ is the third section of the marketing plan and explains how the company plans to accomplish its marketing objectives.

The marketing strategy

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35. Silly Putty has been around for years. It began as a gag gift sold in specialty stores alongside fake vomit. It has always avoided direct confrontation with other toy companies by finding a market that was small enough to defend and never really acting like a marketing leader. Which of the following strategies has Silly Putty successfully followed?

guerrilla

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36. As the leading manufacturer of bleach in the nation, Clorox must guard itself against challenges from detergent manufacturers who are using bleach as a detergent additive. According to Jack Trout and Al Reis's Marketing Warfare, which type of a strategy should Clorox use?

defensive

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37. In November 2005, MTV World launched MTV Chi, a channel catering to Chinese living teenagers in the United States. Chinese teenagers in the U.S. are the cable station's:

target market

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38. Hops Grillhouse & Brewery, formerly known as Hops Restaurant/ Bar/Brewery, has unveiled a multimillion dollar brand strategy featuring a new menu intended to "capture consumer preferences for high quality, freshness and grilled tastes as well as an array of aromas, textures and price points." Its product mix of handcrafted beer and superior food is unlike that offered by other similar restaurant chain and describes its _____ strategy.

positioning

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39. _____ refers to the place a brand occupies competitively in the minds of consumers.

Positioning

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40. Which of the following is NOT one of the distinct approaches to developing a positioning strategy?

marketing mix

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41. Clos du Bois wine, for example, pursues an advertising campaign targeting the gay and lesbian community that has been remarkably successful. Its ad in gay publications features a wine cork emblazoned with the Gay Pride rainbow--an instantly recognizable symbol in the gay community. What approach to positioning is the winery using?

product user

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42. The University of Phoenix has been described as more like an office building or industrial park than a place of higher education. It has no library building, and its bookstore only sells textbooks. The university is a subsidiary of a for-profit company called the Apollo Group. It proudly billed itself as "the largest private university in the United States." What approach to positioning is the university using?

product class

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43. Entrepreneur Chrissy Azzaro is founder of My-Tee, a Los Angeles fashion company. Besides its signature product, the My-Tee T-shirt, the company makes its own line of skirts, shoes, tank tops and accessories that retail from $32 to $78. Publicists and buyers browse My-Tee's trendy showroom in Los Angeles for the latest trends and clothing lines. The company's promotional strategy relies on publicity. Celebrities from Hilary Duff to Courteney Cox have been photographed in My-Tee clothing. This exposure helped the company rack up $1 million in sales last year. This is a brief description of My-Tee's:

marketing mix

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44. _____ determine the specific short-term actions to be taken, internally and externally, by whom, and when.

Tactics

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45. Smaller companies typically use a bottom-up marketing format plan because:

handling day-to-day problems leaves little time for formal planning

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46. Randall Grahm, the owner of Bonny Doon Vineyards, made a name for his wines by injecting an irreverent sense of humor into everything associated with the winery. One of the _____ he used was to host a black mask dinner this fall to celebrate "the death of wine corks" when his company decided to use screw tops.

action program

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47. _____ is the creating, maintaining, and enhancing long-term relationships with customers and other stakeholders that result in exchanges of information and other items of mutual value.

Relationship marketing

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48. _____ is the ratio of perceived benefits to the price of the product in a consumer study.

Value

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49. According to the text, which of the following would be an example of a stakeholder?

all of the above