Top 10 Questions : Chapter 2 : Ansay
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The document discusses key marketing concepts from Chapter 2 of Marketing Management by Philip Kotler including: 1. Tactical marketing plans specify marketing tactics at an operational level while strategic plans define long-term objectives and strategies. 2. Corporate culture refers to the shared experiences, beliefs and norms of an organization. 3. Customer experience considers all customer interactions with a company. 4. Platform innovation uses common components to create derivative products and services. 5. Environmental threats are external factors that could negatively impact demand like new competitors or technology changes.
Top 10 Questions : Chapter 2 : Ansay
- 1. Top 10 Questions (Chapter #2) Catherine Ansay December 15, 2011 Chapter 2 Marketing Management, Kotler 14 th ed
- 2. _________ specifies the marketing tactics, including product features, promotion, merchandising, pricing, sales channels and service. Tactical marketing plan Corporate plan Business plan Product plan Strategic plan
- 3. 1. Tactical Marketing Plan
- 4. 1. Tactical Marketing Plan Teams develop marketing plan with inputs and sign-offs from every important function Management implements these plans at the appropriate levels of the organization, monitors results and takes necessary correction action Planning at each of these four levels of the organization
- 5. _________ specifies the marketing tactics, including product features, promotion, merchandising, pricing, sales channels and service. Tactical marketing plan Corporate plan Business plan Product plan Strategic plan
- 6. The shared experiences, stories, beliefs and norms that characterize an organization. Business Mission Vision, Mission and Values Corporate culture Organizational environment Corporate environment
- 7. 2. Corporate Culture Standards that govern the operation of the business Corporate Culture
- 8. 2. Corporate Culture Corporate culture defined as the shared experience, stories, beliefs and norms that characterize an organization. A customer-centric culture can affect all aspects of an organization.
- 9. The shared experiences, stories, beliefs and norms that characterize an organization. Business Mission Vision, Mission and Values Corporate culture Organizational environment Corporate environment
- 10. A dimension of business innovation that talks about redesigning customer interactions across all touch points and all moments of contact. Supply Chain Networking Value Capture Customers Customer Experience
- 11. 3. 12 Dimensions of Business Innovations
- 12. 3. Customer Experience Customer experience – considers everything a customer sees, hears, feels and experiences while interacting with a company at all moments
- 13. A dimension of business innovation that talks about redesigning customer interactions across all touch points and all moments of contact. Supply Chain Networking Value Capture Customers Customer Experience
- 14. This business innovation dimension uses common components or building blocks to create derivative offerings. Processes Offerings Platform Presence Solutions
- 15. 4. 12 Dimensions of Business Innovations
- 16. 4. 12 Dimensions of Business Innovations Platform – set of common components, assembly methods or technologies that serve as building blocks for a portfolio of products or services
- 17. This business innovation dimension uses common components or building blocks to create derivative offerings. Processes Offerings Platform Presence Solutions
- 18. _______ is an area of buyer need and interest that a company has a high probability of profitability satisfying. Offerings Brand Success Probability Marketing Opportunity Opportunity Matrix
- 20. 5. Market Opportunity Newly identified need, want or demand that a firm can exploit because it is not being addressed by the competitors There are several sources of Market Opportunities: Supply something that is in short supply. Supply an existing product in a new or superior way.
- 21. _______ is an area of buyer need and interest that a company has a high probability of profitability satisfying. Offerings Brand Success Probability Marketing Opportunity Opportunity Matrix
- 22. A challenge posed by an unfavorable trend or development that would lead, in the absence of defensive marketing action, to lower sales or profit. Probability of Occurrence Weakness Seriousness Weakness & Threat Environmental Threat
- 23. 6. Threat Matrix Competitor develops superior lighting system. Major prolonged economic depression. Higher costs. Legislation to reduce number of TV studio licenses 2 1 3 4 Profitability of Occurrence High Low High Low
- 24. 6. Environmental Threat Any factor in the market, external to the marketing organization, that has the potential to negatively impact demand for the marketer's product or service. Example: Entrance of new competitor Merger of two competitors Introduction of a new brand Development of technology Legislative changes Social and economic trends Read more : http ://www.answers.com/topic/environmental-threat#ixzz3qH3gQ9Wk
- 25. A challenge posed by an unfavorable trend or development that would lead, in the absence of defensive marketing action, to lower sales or profit. Probability of Occurrence Weakness Seriousness Weakness & Threat Environmental Threat
- 26. The goal of this strategy is to achieve the lowest production and distribution costs so price can be lowered than the competitors and win a large market share. Overall cost leadership Product or service alliances Differentiation Focus Pricing collaboration
- 27. 7. Overall Cost Leadership Offer relatively standardized products with features or characteristics that are acceptable to customers minimum level of differentiation lowest competitive price
- 28. 7. Porters Generic Strategies Overall Cost Leadership – Firms pursuing this strategy work hard to achieve the lowest production and distribution cost so they can price lower than their competitors. Differentiation – The business concentrate on achieving superior performance in an important customer benefit area valued by a large part of the market. Focus – Focus on one or more narrow market segment.
- 29. The goal of this strategy is to achieve the lowest production and distribution costs so price can be lowered than the competitors and win a large market share. Overall cost leadership Product or service alliances Differentiation Focus Pricing collaboration
- 30. Which statement is false? Philippine Airlines outsourcing ground operations to Sky Logistics is an example of service alliance. The Teachers of Ateneo Graduate School of Business is an example of Service Alliance. An example of logistic alliances is a distribution business for a manufacturing company. Five star hotels that offer car rental services is an example of Pricing Collaborations. An example of promotional alliance is the Metrobank Mabuhay Miles Credit Card.
- 31. 8. Strategic Alliances Product or Service Alliance Promotional Alliances Logistics Alliances Priding Collaboration
- 32. 8. Strategic Alliances Product or Service Alliance – One company licenses another to produce its products, or two. Promotional Alliances – One company agrees to carry a promotion for another company’s product or service. Logistics Alliances – One company offers logistical services for another company’s product. Pricing Collaboration – One or more companies join in a special pricing collaboration.
- 33. Which statement is false. Philippine Airlines outsourcing ground operations to Sky Logistics is an example of service alliance. The Teachers of Ateneo Graduate School of Business is an example of Service Alliance. An example of logistic alliances is a distribution business for a manufacturing company. Five star hotels that offer Travel and Tour services is an example of Pricing Collaborations. An example of promotional alliance is the Metrobank Mabuhay Miles Credit Card.
- 34. Business strategy that focuses on one or more narrow market segments. Differentiation Overall cost leadership Focus Presence Value Capture
- 35. 9. Focus Describes the scope over which the company should compete based on cost leadership or differentiation
- 36. Which statement is true about Strategic Business Units? It is composed of several business units that can be planned separately from the rest of the company. It has its own set of competitors. Its managers are only responsible in strategic planning but not profit performance. All of the Above None of the Above
- 37. 9. Establishing Strategic Business Units A set of products or product lines With clear independence from other products or product lines for which a business or marketing strategy should be designed
- 38. 9. Establishing Strategic Business Units A Strategic Business Unit has Three Characteristics: It is a single business, or a collection of related business, that can be planned separately from the rest of the company. It has its own set of competitors. It has a manager responsible for strategic planning and profit performance, who controls most of the factors affecting profit.
- 39. Which statement is true about Strategic Business Units? It is composed of several business units that can be planned separately from the rest of the company. It has its own set of competitors. Its managers are only responsible in strategic planning but not profit performance. All of the Above None of the Above
- 40. The following define the major competitive spheres within which the company will operate except ______. Industry Product and applications Market Segment All of the Above None of the Above
- 41. 10. Competitive Spheres Industry Products and applications Competence Market segment Vertical Geographical
- 42. 10. Competitive Spheres Industry – companies operate in only one industry Products and applications – firms define the range of products and applications they supply Competence – firms identify the range of technological and other core competencies they master and leverage Market segment – type of market or customers companies serve Vertical – number of channel levels from raw materials to final product distribution Geographical – range of regions, countries or country groups in which companies operate
- 43. The following define the major competitive spheres within which the company will operate except ______. Industry Product and applications Market Segment All of the above None of the above
- 44. Top 10 Questions (Chapter #2) Catherine Ansay December 15, 2011 Chapter 2 Marketing Management, Kotler 14 th ed