Marketing 3311

Inexperienced managers would be considered what in a SWOT analysis
weakness
An organization whose primary organizational goal is operational efficiency or client satisfaction would be classified as a(n)
nonprofit organization
Profit
is the money left over after a business form’s total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings
Industry
a group of organizations that develop similar offerings
What is essential to recognize when determining organizational strategy?
An organization has limited resources which must be focused on achieving goals
Which of the following are the three levels of strategy in organizations?
Corporate, Strategic business-unit, and functional
T/F: Marketing strategy is a tool that allows marketers to understand how forces in the environment will impact the organization in the future
False
The marketing department is part of the _______ level, in terms of strategy within an organization
functional
Which two of the following are true of a visionary organization’s foundation?
it provides guidance and inspiration to its employees

it explains why an organization exists

An organization’s core values are best described as the
enduring principles that guide its conduct over time
Government agencies
The census Bureau and the U.S. Department of commerce are examples of
Strategies
A visionary organization first examines its organizational direction to determine its organizational
Southwest Airlines’ ___ is to be dedicated “to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.”
mission
___ often triggers a business model change, as it has fro American newspapers and book retailers.
Technology innovation
The ___ phase of the strategic marketing process usually results in a ___ that sets the direction for the marketing activities of an organization
planning; marketing plan
What is unique strength relative to competitors, often based on quality, cost, or innovation referred to as?
competitive advantage
The market-product focus and goal setting part of the planning phase of the strategic marketing process includes which of the following?
positioning the product
The marketing program includes developing the marketing mix and
its budget
Writing ads and setting prices are examples of which of the following?
marketing tactics
Comparing the results of the marketing program with the goals in the written plans to identify and act on deviations occurs during the
evaluation phase
Marketing expertise is gained
by even the average person, who has a great deal of shopping experience
Marketing is the activity for creating, communicating, ____ offerings that benefit customers, the organization, its stakeholders, and society at large
and delivering
The goal of marketing is to both ___ the needs of prospective customers
discover and satisfy
The 4 P’s of the marketing mix include product, price, place, and
promotion
The uncontrollable forces in a marketing decision involving social, economic, technological, competitive and regulatory forces are referred to as
environmental forces
The concept of _____ links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
relationship marketing
Market segments are homogeneous in two ways: prospective buyers have common needs and they
will respond similarly to marketing action
The marketing concept is the idea that an organization should strive to satisfy the needs of consumers
while also trying to achieve the organization’s goals
Social responsibility refers to
the belief that organizations are accountable to a larger society for their actions
The primary difference between a good and a service, both of which are products to the marketer, is that a good is ____ and a service is _____.
a physical object; intangible