#2 Marketing Plan

Question 1

Steps to a MKT plan

(5)

Answer 1

1. Business planning
2. Situation Analysis
3. Develop Strategy
4. Implement Strategy
5. Monitor and Control

Question 2

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1 Business Planning is…

Answer 2

Setting goals, vissions and missions

Question 3

Mission and Vision statement

Answer 3

MISSION: purpose of the company.

VISSION: how they see themselves when they accomplished that purpose.

Question 4

2 Situation Analysis is…

Answer 4

understanding the firm in the business enviornment

Question 5

Understanding the situation is if…

Answer 5

I can control it or not

INTERNAL/EXTERNAL

Question 6

SWOT ANALYSIS

Question 7

Strenghts

Answer 7

INTERNAL
What are they good at

Question 8

Weakness

Answer 8

INTERNAL
in what are they bad at

Question 9

Opportunity

Answer 9

EXTERNAL
that might present

Question 10

THREATHS

Answer 10

EXTERNAL
That might threath them

Question 11

SWOT ANALYSIS tool…

Answer 11

use the tool to develop an strategy into the 4P’s

Question 12

3 Develop strategy is…

Answer 12

align the 4P’s with STP

Question 13

What is STP

Answer 13

Segmentation
Targeting
Positioning

Question 14

What is a sustainable competitive advantage?

Answer 14

something the firm persistently do better than their competitors

the more you are better, the better, mejor en 2 q en 1

Question 15

4 Implement Mkt mix

Answer 15

Implementing it in the 4P’s

Question 16

5 Monitor and Control is…

Answer 16

Evaluating the performance

by using mkt metrics

Question 17

Example of a Mkt Metric

Answer 17

Boston Consulting Group

Question 18

Star product

Answer 18

high-growth markets and are high-market-share products

iphone

Question 19

Cash cow product

Answer 19

low-growth markets but are high-market-share products

macbooks

Question 20

Question mark product

Answer 20

high-growth markets but have relatively low market shares

apple play TV

Question 21

Dog product

Answer 21

low-growth markets and have relatively low market shares

ipod music

Question 22

Customer excellence focuses on…

Answer 22

retaining loyal customers and excellent customer service

Question 23

Firms use ____ to build their sustainable competitive advantage

Answer 23

four macro strategies

customer, operational, product, locational EXCELLENCE

Question 24

Locational excellence entails…

Answer 24

having a good physical location and Internet presence

Question 25

Product excellence entails…

Answer 25

having products with high perceived value and effective branding and positioning

Question 26

Operational excellence is achieved through…

Answer 26

efficient operations and excellent supply chain and human resource management

Question 27

A marketing plan is composed of an analysis of…

Answer 27

1. the current marketing situation
2. its objectives
3. the strategy for the four Ps
4. appropriate financial statements.

Question 28

Macro Strategies based on excellence

Answer 28

1. customer
2. operational
3. product
4. location

Question 29

Customer excellence

Answer 29

retaining loyal customers

Anne H. vestidos de dama boda

Question 30

Locational Excellence

Answer 30

good physical and internet presence

Tim Hortons

Question 31

Operational Excellence

Answer 31

efficient operations system

Amazon prime

Question 32

Product Excellence

Answer 32

best performing product

Luxury bags due to quality