2: Marketing Strategy and Environment

Question 1

What are the four sequences in the Value-Delivering Process?

Answer 1

1) Discovering the required value (do research on what the customer wants)
2) Developing a suitable customer offering
3) Delivering the value
4) Communicating the value

Question 2

What are the primary activities in the Value-Delivering Process?

Answer 2

• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service

Question 3

What are the support activities in the Value-Delivering Process?

Answer 3

• Firm infrastructure
• Human resource management
• Technology development
• Procurement

Question 4

What is strategic management?

Answer 4

• The management process of creating and increasing perceived value.

Question 5

What are the steps in planning, implementing and controlling in strategic management?

Answer 5

• Planning: Corporate, division, business and product planning.
• Implementing: Organising and leading
• Controlling: Measuring results, diagnosing results, taking corrective action.

Question 6

What are the four planning activities?

Answer 6

1) Defining the mission
2) Defining the business
3) Assigning resources to each strategic business unit
4) Assessing growth opportunities

Question 7

What are the four parts in BCG’s Growth-Market Share Matrix?

Answer 7

• Dogs (down left)
• Cash cows (down right)
• Question marks (up left)
• Stars (up right)

Question 8

What are the four parts in Ansoff’s Procut-market expansion grid?

Answer 8

• Market penetration
• Product development
• Market development
• Diversification

Question 9

What are the steps in the planning process for a business unit strategy?

Answer 9

• Business mission
• External environment (opportunity & threat analysis) & SWOT analysis
• Goal formulation
• Strategy formulation
• Programme formulation
• Implementation
• Feedback and control

Question 10

What is a SWAT analysis?

Answer 10

Analyses Strengths, Weaknesses, Opportunities and Threats of the company.

Question 11

What are the prerequisites of and MBO system?

Answer 11

• Objectives must be arranged hierarchically
• Objectives should be qualified
• Objectives should be realistic
• Objectives must be consistent

Question 12

What is a marketing plan?

Answer 12

The marketing plan is the central instrument for directing and coordinating the marketing effort.

Question 13

What is the content of the marketing plan?

Answer 13

• Executive summary and table of contents
• Situation analysis
• Marketing strategy
• Financial projections
• Implementation control

Question 14

Recap: Can you explain..

• What questions a mission statements should answer?
• What strategic business units are?
• How resources can be allocated to strategic business units?
• What options marketing managers have to expand their business?
• What a SWOT analysis is?
• What generic strategic Porter proposed?

Answer 14

:-))