MKT 3013 Interactives Ch. 2 – Flashcards
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Strategic Marketing Planning Process
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1. Define the MIssion/Vision 2. Situation Analysis 3. Identify and Evaluate Opportunities 4. Implement Marketing Mix 5. Evaluate Performance
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Staples offers quality customer service and its own brand of products to establish a ___________. - fun environment - marketing plan - competitive advantage - target market - large inventory
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competitive advantage
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Ethnographic research takes place ________. - by measuring sales of items - in focus groups - through surveys - by human observation - online only
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by human observation
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The Staples Mailmate is an example of how Staples offers value by providing consumers with _________. - large assortments - innovative products - discount products - products that copy the national brands - the lowest possible prices
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innovative products
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A bundle pricing strategy means that the cost is lower when you buy _________. - more often - more styles of a product - more items at once - an assortment of products - on a regular schedule
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more items at once
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Which is not one of Staples's promotional efforts? - circulars - tv commercials - in-store displays - the lowest prices of any competitor - quality service
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the lowest prices of any competitor
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When Staples plans its store layout and designs its website, it wants to offer its customers __________. - big cost savings - ink and paper - a huge product selection - an easy experience - luxury products
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an easy experience
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Moving from television broadcast into e-commerce has allowed HSN to achieve _______ excellence. - locational - service - product - operational - customer
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locational
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HSN focuses its marketing efforts on busy women older than 35 years old who own their homes. This customer group is HSN's ________. - market position - key segment - market segment - strategic base - target market
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target market
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One way HSN promoted its products was to use _____. - lifestyle programming - coupons - discounts - infomercials - humorous ads
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lifestyle programming
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When HSN added event programming to its mix, which two elements of the marketing mix did it affect? - place and product - place and promotion - price and promotion - product and price - product and promotion
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product and promotion
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HSN created product value by having ________. - award-winning ads - catalog sales - exclusive designer agreements - discount prices - good retail locations
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exclusive designer agreements
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By offering new products developed by well-known designers to its existing customers, HSN used which growth strategy? - product development - diversification - portfolio analysis - market penetration - market development
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product development
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One of Netflix's original competitive advantages was its efficiency. The company delivered movies quickly and charged a relatively low cost for the service. Strategically, this is known as _____ excellence. - customer - product - delivery - operational - locational
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operational
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A situation analysis identified increasing competition, potential downsizing of the U.S. Postal Service, and cable pay-per-view expansion, which were ______ for Netflix. In response, Netflix was initially able to capitalize on the _____ of streaming, gaming platforms, and an iPhone app. - weaknesses; strengths - weaknesses; opportunities - threats; opportunities - threats; strengths
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threats; opportunities
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When Netflix launched its streaming-only plan, the company anticipated that most current users would drop the rental plan and move to it. In strategic terms, this is a growth strategy of _____. - market penetration - market development - product development - portfolio analysis - diversification
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product development
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Assuming Netflix was following a marketing plan, at which stage should it have given more consideration to the impact of the July 2011 price increase? - defining the business mission - evaluating performance - identifying opportunities - implementing the marketing mix - situation analysis
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implementing the marketing mix
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When Netflix first offered streaming, it expected that many rental customers would move to the new service. However, there were far less movie titles available through streaming as compared to DVD mail rentals. In a SWOT analysis, the lack of movies available for streaming would be classified as a(n) _____. - threat - strength - weakness - portfolio - opportunity
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weakness
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By completely separating Qwickster and Netflix into independent companies, Reed Hastings essentially created two _________. - market segments - sustainable competitive advantages - strategic business units - cash cows - target markets
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strategic business units
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One way Netflix could grow its business would be to offer its existing services to foreign markets it does not currently serve. This would represent which growth strategy? - product development - diversification - market development - segmentation - market penetration
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market development
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Which of the four Ps does Spirit Airlines rely on most to create value for its customers? - product - people - place - price - promotion
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price
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First-time Spirit Airlines customers sometimes don't understand its "bare fare" strategy, leading to unpleasant surprises when they check in at the airport. In terms of a SWOT analysis, this is an example of a(n) - weakness - strategy - opportunity - threat - strength
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weakness
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When Spirit Airlines identifies itself as an ultra-low-cost carrier (ULCC), it is ______ itself compared to other airlines. - positioning - targeting - segmenting - situating - evaluating
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positioning
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When Spirit Airlines expands into additional cities, which growth strategy is it using? - market penetration - related diversification - market development - unrelated diversification - product development
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market development
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Which of the sources of sustainable competitive advantage discussed in the text is Spirit Airlines most likely pursuing with its ultra-low-cost carrier strategy? - operational excellence - locational excellence - product excellence - customer excellence - price excellence
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operational excellence
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In order to examine the strengths of the Coffee Collective within a SWOT analysis, Martha would need to evaluate the __________ and _____________ factors of her organization. - internal; favorable - external; unfavorable - location; determinant - external; favorable - internal; unfavorable
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internal; favorable
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In order for Martha to categorize prospective buyers into groups that have common needs and will respond similarly to a marketing action, she will need to complete a ______________. - four Ps segmentation - marketing program - market inquiry - market segmentation - strategic planning analysis
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market segmentation
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Which of the following is not one of the three phases of the strategic marketing process? - determination phase - planning phase - implementation phase - evaluation phase
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determination phase
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The Coffee Collective will need to detail the day-to-day operational decisions that are needed to execute the marketing planning phase. These actions are often organized into the "Four Ps," also called the _________. - marketing metrics - situation analysis - marketing mix - points of difference - SWOT analysis
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marketing mix
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When Martha needs to compare the results of the marketing program for the Coffee Collective and then implement changes based upon what she finds, she is in the _____________ phase of the strategic marketing process. - program - evaluation - planning - responsibilities - implementation
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evaluation
