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Marketing > CH 2 ACCESS POWERPOINT > Flashcards

CH 2 ACCESS POWERPOINT Flashcards

1
Q

Legal entities that consist of people who share a common mission is known as a

A

Organization

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2
Q

T/F- Organizations develop offerings that create value

A

True

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3
Q

What are the three different types of organizations?

A

For-profit
Non-profit
Government Agencies

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4
Q

A group of companies with similar offerings are known as

A

Industry

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5
Q

What part of a company oversees the three levels of strategy in organizations: corporate, business unit, and functional

A

Board of Directors

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6
Q

Groups of specialists that create value are apart of which company level?

A

Functional Levels

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7
Q

Functions such as operations, marketing, and finance in a company is known as

A

Departments

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8
Q

Different departments contribute to a performance goal is known as

A

Cross-functional teams

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9
Q

What model includes the strategies an organization develops to provide value to customers are known as

A

Business models

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10
Q

What are some the goals or objectives of a company?

A

Profit
Sales (dollars or units)
Market share
Quality
Customer satisfaction
Employee welfare
Social responsibility
Efficiency (nonprofit organizations)

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11
Q

What are the three ways strategies can vary by level? And strategies, can vary by product (or offering)

A

Corporate level
SBU level
Functional level

Product, services, and ideas

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12
Q

The road map for the marketing actions is known as

A

Marketing Plan

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13
Q

A _______ ________ is the visual computer display of the essential information related to achieving a marketing objective.

A

Marketing Dashboard

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14
Q

a measure of the quantitative value or
trend of a marketing action or result is known as

A

Marketing Metric

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15
Q

What is the formula of Dollar sales?

A

Dollar sales= Average price X Quantity sold

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16
Q

What is the dollar market share formula?

A

Sales DIVIDED BY Total Industry Sales

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17
Q

Why would you configure dollar sales and dollar market share?

A

Compare results with the goals
Compare with previous years
Leads to marketing actions

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18
Q

What type of analysis is used to quantify performance measures and growth targets?

A

Business Portfolio Analysis

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19
Q

Which of the following represents low share of high-growth market?
Question Marks
Stars
Cash Cows
Dogs

A

Question Marks

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20
Q

Which of the following represents high share of high growth markets?
Question Marks
Stars
Cash Cows
Dogs

A

Stars

21
Q

Which of the following generates large amounts of cash?
Question Marks
Stars
Cash Cows
Dogs

A

Cash Cows

22
Q

Which of the following represents low share of slow growth markets?
Question Marks
Stars
Cash Cows
Dogs

A

Dogs

23
Q

slide19 shows good example

A
24
Q

19-22 copied in other brainscape

A
25
Q

What are the 4 guiding principles and assumptions of the strategic marketing process?

A

1) Customers are different
2) Customers change
3) Competitors change and react
4) Organizational resources are limited

26
Q

What is the abbreviation of SWOT

A

Strengths
Weaknesses
Opportunities
Threats

27
Q

SWOT analysis actions apply to each cell help do what within a company?

A

Build on a strength
Correct a weakness
Exploit an opportunity
Avoid a disaster-laden threat

28
Q

What term involves aggregating prospective
buyers into groups, or segments, that
(1) have common needs and
(2) will respond similarly to a marketing action.

A

Market Segmentation

29
Q

the cluster of benefits that an organization promises customers to satisfy their needs this is known as

A

Customer value proposition

30
Q

_____ ___ ______ are those characteristics of a product that make it superior to competitive substitutes.

A

Points of Difference

31
Q

Planning Phase Step 3 involves using the 4 P’s of the marketing mix what are they

A

Product Strategy
Price Strategy
Promotion Strat
Place Strat

32
Q

What are the 4 components of the implementation phase?

A

1) Obtaining resources
2) Designing the marketing organization
3) Defining precise tasks, responsibilities, and deadlines
4) Executing the marketing program

33
Q

slide 31?

A
34
Q

the means by which a marketing goal is
to be achieved, usually characterized by a specified target market and a marketing program to reach it.

A

Marketing Strategy

35
Q

the detailed, day-to-day operational
marketing actions for each element of the marketing mix that contributes to the overall success of marketing strategies.

A

Marketing tactics

36
Q

The evaluation phase seeks to keep the marketing program moving correctly by comparing results with plans by

A

Identifying deviations and planning gaps

37
Q

the money left after a for-profit organization subtracts its total expenses from its total revenues and is the reward for the risk it undertakes in marketing its offerings is known as

A

Profit

38
Q

an organization’s long-term course of action
designed to deliver a unique customer experience while achieving its goals.

A

Strategy

39
Q

the fundamental, passionate, and enduring
principles of an organization that guide its conduct over time are known as

A

Core Values

40
Q

a statement of the organization’s function in
society that often identifies its customers, markets, products, and technologies. The term is often used interchangeably with vision. This is known as

A

Mission

41
Q

What type of culture consists of the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.

A

Organizational Culture

42
Q

A______ describes the clear, broad, underlying industry, or market sector of an organization’s offering.

A

Business

43
Q

These two terms are the statements of an accomplishment of a task to be achieved, often by a specific time.

A

Goals or objectives

44
Q

the ratio of sales revenue of the firm to the
total sales revenue of all firms in the industry, including the firm itself is known as

A

Market Share

45
Q

a technique that managers use to quantify performance measures and growth targets to analyze their firms’ strategic business units (SBUs) as though they were a collection of separate investments.

A

Business Portfolio analysis

46
Q

a technique that helps a firm search for growth opportunities from among current and new
markets as well as current and new products this is known as

A

Diversification Analysis

47
Q

an approach whereby an organization allocates its marketing mix resources to reach its
target markets this is known as

A

Strategic Marketing Process

48
Q

What type of analysis involves taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization’s marketing plans and the external forces and trends affecting it.

A

Situation analysis

49
Q
A

Marketing (31 decks)

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