To direct the implementation of plans
To control the plans in actual operation
To plan marketing activities
All of the above
Includes the on-going job of planning marketing activities.
Is mainly concerned with obtaining continuous customer feedback.
Involves finding opportunities and planning marketing strategies, but does not include the management tasks of implementing and control.
Is called "strategic planning."
Both a and d are true statements.
Selection of a target market and implementing the plan.
Selection of a target market and development of a marketing mix.
Selection and development of a marketing mix.
Finding attractive opportunities and developing a marketing mix.
Finding attractive opportunities and selecting a target market.
Target markets should not be large and spread out.
Mass marketing is often very effective and desirable.
Firms like General Electric, Sears, and Procter & Gamble are too large to aim at clearly defined markets.
Target marketing is not limited to small market segments.
The terms "mass marketing" and "mass marketers" mean essentially the same thing.
Policies, procedures, plans, and personnel.
The customer and the "four Ps."
All variables, controllable and uncontrollable.
Product, price, promotion, and place.
None of the above.
"Promotion" includes personal selling, mass selling, and sales promotion.
The term "Product" refers to services as well as physical goods.
A channel of distribution does not have to include any middlemen.
Generally speaking, "Price" is more important than "Place."
The needs of a target market virtually determine the nature of an appropriate marketing mix.
Is just another term for "marketing strategy."
Consists of several "marketing programs."
Includes the time-related details for carrying out a marketing strategy.
Is a strategy without all the operational decisions.
Ignores implementation and control details.
Solicit orders from any new, financially attractive, solutions.
Drop colors that are losing appeal.
Create a fresh ad for each Sunday newspaper.
Set a competitive price if a primary competitor offers a special discount.
Promote the fair price and satisfactory quality of the product.
Is another name for a particular marketing mix.
Blends several different marketing plans.
Consists of a target market and the marketing mix.
Is primarily concerned with all of the details of implementing a marketing plan.
Must be set before a target market can be selected.
Expected losses depend on customer equity.
If the parts of a firm's marketing program work well together, it should increase the firm's customer equity.
Expected profits depend on customer equity.
If a firm has more than one marketing strategy, ti will likely decrease the firm's customer equity.
None of the above is false.
Good implementation and control is usually more important than good planning.
There are a limited number of potential target markets.
An effective marketing strategy guarantees future success.
Consumers want only high-quality products.
A successful strategy often involves a marketing mix that is very different from what competitors have offered.
Firms that don't spend more on marketing than their competitors are likely to fail.
Managers who seek big breakthroughs, rather that going after easier to achieve marketing opportunities, face big risks and are likely to fail.
It is fairly common for marketing efforts to turn out poorly, so to avoid that fate and get better than average results, a good manager needs to use a logical process for marketing strategy planning.
Getting good marketing results is really quite easy as long as the marketing manager focuses on the 4 Ps.
All of the above are good answers.
Is an opportunity that gives a firm some sort of competitive advantage.
Can usually be achieved by copying the "best practices" of other firms that sell similar products.
Is one that helps an innovator develop a hard-to-copy marketing strategy that will be very profitable for a long time.
Is one that requires the firm to "breakthrough" its current resource limitations to obtain a new type of competitive advantage.
Is usually achieved by making better operational decisions.
Are so rare that they should be pursued even when they do not match the firm's resources and objectives.
Seldom occur within or close to a firm's present markets.
Are especially important in our increasingly competitive markets.
Are those which a firm's competitors can copy quickly.
Are best achieved by trying to hold onto a firm's current market share.
The firm should aim its efforts at a target market that is different from a target market that a competitor would find attractive.
A firm's marketing mix is distinct from and better than what is available from a competitor.
A firm uses its resources in a different way than competitors use their resources.
A firm should screen out opportunities using different criteria than those used by other firms.
When a firm's marketing strategy is not going well it should change to a different set of operational decisions.
All of the above