MKT327-Module 4 – Flashcards
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Which of the following types of marketing exchanges or relationships has the essential feature of moving each of the partners toward achievement of some mutual long term goal?
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strategic alliance
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Lark inc. is an American electronics company that is currently reviewing new geographical markets to sell its higher popular LED televisions. By 2020 it plans to open new stores across all the major south Asian cities in order to provide personal, customized products and services to all of its clients. Lark is most likely following a which of the following types of strategy
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customer intimacy
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Which of the following is defined by, a loose and flexible coalition guided from a hub where the key functions include development and management
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confederation
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Generally an organization's mission statement or business definition should be _____ oriented, with a _______ focus on customer needs
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market, broad
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Marketing has evolved through five eras. In correct sequence, what are the five eras
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production, sales, customer, value, social media
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According to the feature in chapter 2 about coca-cola, what kind of strategy does the company use to make it unique from competitive brands
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differentiation
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Stakeholders of an organization include all but which of the following
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target markets
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The image of the organization relative to the competition is developed in what phase of the strategic marketing planning process?
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positioning
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Orion inc. operates in many industries including pharmaceuticals and food products; and the company's goal is to create "abundant and affordable food for all and a healthy environment"- This represents which of the following aspects of orion's strategy
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mission statement
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Arranging for a product's value proposition (that is for it to occupy a clear and desirable place in the minds of potential customers relative to competing products) is known as which of the following?
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positioning
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Which of the following types of marketing exchanges or relationships has the unique feature that a new firm is created?
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joint venture
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Ralph Fitzgivens is the manager of a strategic business unit. This means he is responsible for which of the following
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managing a part of the firm for marketing purposes
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The societal marketing concept seeks to balance which of the following?
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customer satisfaction, corporate profits, and the well being of society
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Which of the following is classified as a differentiation strategy
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Dell computer introduces a new computer line for the educational market that is unique from any other and is guaranteed to require 50% less service than current lines; Strategic business units and core competencies
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The role or purpose of marketing in a firm is defined by which of the following
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marketing concept
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Sustainable competitive advantage refers to a strategy that
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competitors cannot easily duplicate or surpass
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A company's long-term plan for using resources to pursue goals and objectives in competitive arenas is called
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strategy
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a low-cost strategy focus on which of the following
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winning through efficiency
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Which of the following elements of a corporate vision is defined as the set of values, ideas, and behavioral norms that are learned and shared among members of an organization, and dictates the nature of the organization's primary objectives
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corporate philosophy or culture
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The statement of an organization's operating philosophy or culture, including core values, business definition, strategic direction and strategic infrastructure is called what?
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vision
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According to the text and the article, "the changing role of marketing" marketing can be described as which of the following
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philosophy or culture, strategy, tactics
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All of the following are ways to achieve a successful customer intimacy except:
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reduce warranty cost
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The core values of Johnson and Johnson outline which of the following
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The ethics and social responsibility that define behaviors expected from the company and its employees
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Which of the following is not a market-oriented business definition?
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we make high-quality consumer food products
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The basic characteristic of a network organization is
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confederation
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Which of the following types of marketing exchanges or relationships would be unique to a business or organizational customer as opposed to either an organizational customer or a final customer
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strategic alliance
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Which of the following is a key benefit of a globally-oriented organization?
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Companies that connect globally generally have a better understanding of diversity and competition
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which of the following is not one of the basic types of competitive strategy
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one of the core competencies
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which of the following is not part of a company's vision statement
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production philosophy
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The tools of management science (as they relate to marketing) are typically applied at which level of strategic planning?
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operational or functional level
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Which of the following is defined as the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing making opportunities.
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strategic planning
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which of the following best describes a strategic business unit (SBU)?
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one of the key businesses or profit centers that make up a company
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which of the following is a core competency?
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base technology, process technology, product technology, information systems
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which of the following best defines (managerial) marketing
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the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large
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Which of the following is the essential element of a strategy that is defined as the selection of which operational activities or resources to engage in differently?
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business model
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The importance of environmental sustainability has led marketers to emphasize which type of products?
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green
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all of the following are one of the essential elements of strategy except for which one?
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mission statement
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which of the following is TRUE with regard to strategic planning?
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finding the game plan for long-run survival and growth is the focus of strategic planning
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In the article changing role of marketing a detailed argument is presented that the focus of marketing within an organization has changed from a transactional focus to which of the following?
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relationship focus
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a business definition describes which of the following?
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the contributions a company seeks to make to customers and society
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why is it important for an organization to have a vision?
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-Helps people in the organization... -It helps people in the organization understand the fundamental contributions the business intends to make to society, the position relative to competitors, and the attributes that make the organization unique
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Match the following elements of a vision statement with the marketing responsibilities that focus on or are associated with
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Core competencies -strategic infrastructure Customer orientation- business definition (mission) Competitiveness- strategic direction (intent) Profit and/or growth objectives -strategic direction (intent) Behavioral norms -core values Growth-share matrix -strategic infrastructure
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when executive focus on their company's current products and services rather on a benefits to customers
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marketing myopia
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Generally an organization's mission statement or business definition should be ____ oriented with a ____ focus on customer needs
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-market, marketing, customer, value driven -broad, wide
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When executives focus on their company's current products and services rather than on benefits to consumers what condition occurs?
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not geographic scope or customer intimacy
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which of the following best defines (managerial) marketing?
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-the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings, that have value for customers, clients, partners and society at large
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addressing the amount of time required to search for a product or service is an example of a ____ source of value for a ____
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environmental
