T/F: The two sub-strategies of advertising strategy are the segmentation strategy and the message strategy
TF: The three steps involved in the objective/task method are defining objectives, determining strategy, and estimating cost
The ____ for an organization assembles all the pertinent facts about the organization, the markets it serves and its products, services, customers, and competition
Be consistent with the company’s mission and capabilities
The written marketing plan must reflect the goals of top management and:
Conducting a Situation Analysis
What is the first step in the traditional top-down marketing plan?
The most common format used to develop a marketing plan is the ____ plan
T/F: Small firms with limited capital typically budget using all-available-funds method
T/F: In consumer goods marketing, increases in market share are closely related to increases in marketing budgets.
Determine specific marketing objectives
Desert Knight Golf Resort has just completed a detailed, factual study of the resort’s current strengths and weaknesses as well as what threats and opportunities exist that are outside the company’s control but still impact it. Its next step in the development of its marketing plan is to:
Baxter International Inc, which maintains manufacturing facilities around the world 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
The exhibition and trade show industry, after decades of fabulous growth is experiencing business decline. 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.”
The marketing strategy
_____ is the third section of the marketing plan and explains how the company plans to accomplish its marketing objectives
_____ objectives can be stated in terms of profit, return on investment, net worth, growth or corporate reputation.
Within a timeframe of five to seven years Orco Construction Supply, a regional distributor of tools and hardware to framing and foundation contractor markets, plans to hit a revenue mark of $500 million which will more than double its 2006 gross sales. This would be an example of a(n) _____ objective.
_____ objectives can be categorized as either general need-satisfying objectives or specific sales-target objectives.
To shift the organization’s view from a production orientation to concern for the needs of its target market.
Why would a company set need-satisfying objectives?
To increase sales of pecan pies by 3 percent during the next six months
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?
In February 2008, Light Full Foods in San Francisco, developed Light Full Satiety Smoothies, which are shelf-stable, all-natural, dairy-based smoothies for adult women. Adult women are the smoothie manufacturer’s
_____ refers to the place a brand occupies competitively in the minds of consumers.
_____ determine the specific short-term actions to be taken, internally and externally, by whom and when.
Hops Grillhouse & Brewery, formerly known as Hops Restaurant/Bar/Brewery, 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.
Besides its signature product, the My-Tee T-shirt, a fashion design 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 for the latest trends and clothing lines. The company’s promotional strategy relies on publicity. Celebrities from Hilary Duff to Courtney 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:
When the owner of the Baskin-Robbins brand name decided to re-invigorate the brand, it used several different _____ including creating a launch kit, to its brokers and distributors. The kit contains sell sheets, samples, a media kit and gift items, such as branded memory stick and an ice cream scoop to help “Scoop Up Sales!”
handling day-to-day problems leaves little time for formal planning
Smaller companies typically use a bottom-up marketing format plan because:
The development of _____ marketing requires marketers to focus on ingenious tactics first and then develop that tactic into a strategy
_____ 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.