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Chapter 2:Ten Learning Questions (Belinda Tamayo)
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Chapter 2:Ten Learning Questions (Belinda Tamayo)

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  • 1. Chapter 2: Developing Marketing Strategies and Plans 10 Learning Questions Belinda Anne Tamayo www.hypermarketing2.com
  • 2. These questions will mostly cover the following topics: • Marketing and Customer Value • Holistic Marketing Orientation and Customer Value • Corporate and Division Strategic Planning • Porter’s Generic Strategies • The nature and contents of a Marketing Plan http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 3. QUESTION 1 A holistic marketing orientation can helpcapture customer value. The holistic framework is designed to address three key management questions. Which concept below addresses the concern on how a company can identify new value opportunities? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 4. Possible Answers:a. Value Explorationb. Value Creationc. Value Deliveryd. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 5. Conceptsa. Value Exploration – Addresses the concern on how can a company identify new value opportunitiesb. Value Creation – Addresses the concern on how can a company efficiently create more promising new value offeringsc. Value Delivery – Addresses the concern on how can a company use its capabilities and infrastructure to deliver the new value offerings more efficiently http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 6. 1. A holistic marketing orientation can help capturecustomer value. The holistic framework is designed toaddress three key management questions. Whichconcept below addresses the concern on how can acompany identify new value opportunities?a. Value Explorationb. Value Creationc. Value Deliveryd. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 7. QUESTION 2______ is a tool for identifyingways to create more customer value. http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 8. Possible Answers:a. Value Delivery Networkb. Value Chainc. Core Competenciesd. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 9. Conceptsa. Value Delivery Network – This is also known as supply chain. Many companies partner with specific suppliers and distributors as a way to gain competitive advantage.b. Value Chain – Value chain is a tool for identifying ways to create more customer valuec. Core Competencies – A core competency is a specific factor that a business sees as being central to the way it, or its employees, works. It fulfills three key criteria: – It is not easy for competitors to imitate. – It can be leveraged widely to many products and markets. – It must contribute to the end consumers experienced benefits. http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 10. 2. ______ is a tool for identifying ways to create more customer value. a. Value Delivery Network b. Value Chain c. Core Competencies d. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 11. QUESTION 3 All corporate headquartersundertake four planning activitiesin corporate and division strategic planning. What is the very first process that a company should undergo? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 12. Possible Answersa. Assess their competitors in the industryb. Revise their organizational structurec. Define their corporate missiond. Address their internal and external issues http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 13. ConceptsThere are four planning activities that all corporate headquarters undertake. These are:1. Defining the corporate mission2. Establishing strategic business units3. Assigning resources to each SBU4. Assessing growth opportunities http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 14. 3. All corporate headquarters undertake four planning activities in corporate and divisionstrategic planning. What is the very first process that a company should undergo? a. Assess their competitors in the industry b. Revise their organizational structure c. Define their corporate mission d. Address their internal and external issues http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 15. QUESTION 4Statement:Organizations develop mission statements to share with managers, employees, and customers. Mission statements are at their best when they reflect a vision, a realistic and practical idea that provides direction for the company. http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 16. Possible Answersa. Trueb. False http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 17. ConceptsMission Statements- Organizations develop mission statements to share with managers, employees, and customers- Provides employees with a shared sense of purpose, direction, and opportunity- Mission statements are at their best when they reflect a vision, an almost “impossible dream” that provides a direction for the company http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 18. Statement:Organizations develop mission statements to share with managers, employees, and customers. Mission statements are at theirbest when they reflect a vision, a realistic and practical idea that provides direction for the company. a. True b. False http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 19. QUESTION 5Sabelle Co. plans to pursue a strategy to achieve the lowest production costs so they can provide the lowest price compared to their competitors. Which Porter’s Generic strategy is Sabelle Co. pursuing? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 20. Possible Answers:a. Overall cost leadershipb. Differentiationc. Focusd. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 21. Conceptsa. Overall cost leadership- Firms pursuing this strategy work hard to achieve the lowest production and distribution costs so they can price lower than their competitors and win a large market shareb. Differentiation- Firms pursuing this strategy concentrates on uniquely achieving superior performance in an important customer benefit area valued by a large part of the marketc. Focus- Firms pursuing this strategy focuses on one or more narrow market segments. The firm gets to know these segments intimately and pursues either cost leadership or differentiation within the target segment http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 22. 5. Sabelle Co. plans to pursue a strategy to achieve the lowest production costs so theycan provide the lowest price compared to their competitors. Which Porter’s Generic strategy is Sabelle Co. pursuing? a. Overall cost leadership b. Differentiation c. Focus d. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 23. QUESTION 6Trunk Show, a shoe company, plans to offer customized designs of their sandals. What they plan to do is offer different types of materials and designs that their customerschoose from and personalize it. However, theywould have to charge a premium price for thecustomization. What Porter’s Generic Strategy is Trunk Show pursuing? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 24. Possible Answers:a. Overall cost leadershipb. Differentiationc. Focusd. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 25. Conceptsa. Overall cost leadership- Firms pursuing this strategy work hard to achieve the lowest production and distribution costs so they can price lower than their competitors and win a large market shareb. Differentiation- Firms pursuing this strategy concentrates on uniquely achieving superior performance in an important customer benefit area valued by a large part of the marketc. Focus- Firms pursuing this strategy focuses on one or more narrow market segments. The firm gets to know these segments intimately and pursues either cost leadership or differentiation within the target segment http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 26. 6. Trunk Show, a shoe company, plans to offercustomized designs of their sandals. What they plan to do is offer different types of materials and designs that their customers choose from andpersonalize it. However, they would have to charge a premium price for the customization. What Porter’s Generic Strategy is Trunk Show pursuing? a. Overall cost leadership b. Differentiation c. Focus d. None of the above http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 27. QUESTION 7Strategic Alliances take the form ofMarketing Alliances. Which category refers to one company agreeing to carry a promotion for another company’s product or service? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 28. Possible Answers:a. Product or service alliancesb. Promotional alliancesc. Logistics alliancesd. Pricing collaborations http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 29. Conceptsa. Product or service alliances- One company licenses another to produce its product, or two companies jointly market their complementary products or a new productb. Promotional alliances- One company agrees to carry a promotion for another company’s products or servicec. Logistics alliances- One company offers logistical services for another company’s productd. Pricing collaborations- One or more companies join in a special pricing collaboration http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 30. 7. Strategic Alliances take the form ofMarketing Alliances. Which category refers toone company agreeing to carry a promotion for another company’s product or service? a. Product or service alliances b. Promotional alliances c. Logistics alliances d. Pricing collaborations http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 31. QUESTION 8Which type of marketing alliance refers to one or more companies joining in a special pricing collaboration? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 32. Possible Answers:a. Product or service alliancesb. Promotional alliancesc. Logistics alliancesd. Pricing collaborations http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 33. Conceptsa. Product or service alliances- One company licenses another to produce its product, or two companies jointly market their complementary products or a new productb. Promotional alliances- One company agrees to carry a promotion for another company’s products or servicec. Logistics alliances- One company offers logistical services for another company’s productd. Pricing collaborations- One or more companies join in a special pricing collaboration http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 34. 8. Which type of marketing alliance refers to one or more companies joining in a special pricing collaboration? a. Product or service alliances b. Promotional alliances c. Logistics alliances d. Pricing collaborations http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 35. QUESTION 9A marketing plan contains 5 parts. Which part of the marketing plan presents relevant background data on sales, costs, the market, competitors, and the various forces in the macroenvironment? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 36. Possible Answers:a. Executive summary and table of contentsb. Situation Analysisc. Marketing Strategyd. Financial Projectionse. Implementation Controls http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 37. Conceptsa. Executive summary and table of contents- A marketing plan should open with a brief summary and contains a table of contents that outlines the rest of the plana. Situation Analysis- This section presents relevant background data on sales, costs, the market, competitors, and the various forces in the macroenvironment.a. Marketing Strategy- Here the product manager defines the mission, marketing and financial objectives shown, and groups and needs that the market offering are intended to satifsy.a. Financial Projections- Financial projections include a sales forecast, an expense forecast, and a break-even analysisa. Implementation Controls- This section outlines the controls for monitoring and adjusting implementation of the plan http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 38. 9. A marketing plan contains 5 parts. Whichpart of the marketing plan presents relevantbackground data on sales, costs, the market, competitors, and the various forces in the macroenvironment?a. Executive summary and table of contentsb. Situation Analysisc. Marketing Strategyd. Financial Projectionse. Implementation Controls http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 39. QUESTION 10A marketing plan contains 5 parts. Which part of the marketing plan outlines the controls for monitoring and adjusting the implementation of the plan? http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 40. Possible Answers:a. Executive summary and table of contentsb. Situation Analysisc. Marketing Strategyd. Financial Projectionse. Implementation Controls http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 41. Conceptsa. Executive summary and table of contents- A marketing plan should open with a brief summary and contains a table of contents that outlines the rest of the plana. Situation Analysis- This section presents relevant background data on sales, costs, the market, competitors, and the various forces in the macroenvironment.a. Marketing Strategy- Here the product manager defines the mission, marketing and financial objectives shown, and groups and needs that the market offering are intended to satifsy.a. Financial Projections- Financial projections include a sales forecast, an expense forecast, and a break-even analysisa. Implementation Controls- This section outlines the controls for monitoring and adjusting implementation of the plan http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 42. 10. A marketing plan contains 5 parts, which part of the marketing plan outlines the controls for monitoring and adjusting the implementation of the plan?a. Executive summary and table of contentsb. Situation Analysisc. Marketing Strategyd. Financial Projectionse. Implementation Controls http://beltamayo.blogspot.com/ www.hypermarketing2.com
  • 43. Chapter 2: DevelopingMarketing Strategies and Plans End of Questions http://beltamayo.blogspot.com/ www.hypermarketing2.com