MKTG 420: Quiz 2

“In a marketing plan, the executive summary should be a complete but concise overview of the entire marketing plan because
most readers of a marketing plan are busy and value condensed information
Which of the following is one of the five basic questions that a good mission statement should answer?
What is our operating philosophy?
All objectives should be SMART because
Later you can measure to see if the objective was accomplished
According to Case 2 in our book, which of the following is NOT a major contributor to Apple’s success?
Sharing intellectual property
When creating a corporate vision statement, organizations are attempting to answer which of the following questions
What do we want to become?
When a firm possesses capabilities that allow it to serve customers needs better than the competition, the firm is said to have a
competitive advantage
The Strategic planning process always begins with an in-depth
situational analysis
“All organizations need a __________, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization s mission and achieve desired goals and objectives
corporate strategy
in the context of marketing planning, why is it vital that the marketing plan be capable of selling itself to top management?
Because top managers must decide whether the marketing plan is the best use for the organization s scarce resources
The statement that articulates the experience that a customer can expect from doing what an organization wants them to do is called a?
Value Proposition
During our discussion of the Apple case in class we classified Apple s Prestige Pricing as:
both a Strength and a Weakness
In developing a marketing plan, the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect, the goals and objectives section is tied closely to the __________ section of the marketing plan.
evaluation and control
Which of the following statements best describes the nature of a marketing plan?
It clearly outlines the organization s marketing activities.
Which of the following is NOT an element of a Value Proposition?
An estimate of the market potential of your product
Johnson & Johnson s actions were guided by their _________ during the 1978 Tylenol cyanide tragedy.
mission statement