Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Principle of marketing > Chapter 2: the check list of marketing plan > Flashcards

Chapter 2: the check list of marketing plan Flashcards

1
Q

function of marketing plan

A

Central instrument for directing and coordinating all marketing efforts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The Necessary Contents of a Marketing Plan

A
  1. Executive summary and table of contents
  2. Analysis of Marketing Opportunity
  3. Marketing Strategy
  4. Implementation Strategy: Action Plan
  5. Financial Projections and Evaluation Measures
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

when do Analysis of Marketing Opportunity, what should we consider?

A

Current marketing situation
Opportunity and issue analysis
Objectives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

when do we use SWOT

A

Analysis of Business Strengths & Weaknesses and the environmental threads and opportunities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what 3 parts should be considered in a marketing strategy

A
  1. segment and positioning
  2. opportunities/strengths of each of the segments/positioning
  3. Portfolio analysis
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

what is BCG

A

Boston Consulting Group’s (bcg) growth-share matrix

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

the fours aspects to think of when positioning a product BCG

A
  • estimated market’s growth rate
  • target goal of market share
  • where to locate and where to end
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

def. strategy:

A
  • organization’s long term plan of action

- to deliver unique customer value/experience and achieve its objectives.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

4 Elements of the value chain of a company

A

research and development: upstream–> production: up–> marketing: down –> sale and service:down

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

2 types of organizations

A

business firm and non-profit-org

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

def. business firm

A
  • a privately or publicaly owned organization

- serves its customers in order to earn a profit (Total revenues - Total costs).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

def. non-profit orgnization

A
  • a nongovernmental organization

- serves its customers but profit is NOT an organizational goal.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

the four levels of an organization

A
  1. board of directors
  2. corporate-level
  3. business unit-level
  4. functional-level
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

which level of an org. take the top role of management?

A

corporate-level

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

which level of an org. take the top role of management?

A

corporate-level

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

T/F marketing department of an org takes the main role of marketing

A

F

marketing works at each of the level in an org. to help the orgnization succeed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

T/F marketing department of an org takes the main role of marketing

A

F

marketing works at each of the level in an org. to help the organisation succeed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

which level of an org. take the top role of enforcement?

A

Functional level (departments)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

what are the three levels of strategic plan

A

organizational foundation
organizational direction
organizational strategies

20
Q

organizational foundation: function

A
  • define the mission and values, create an org culture
21
Q

organizational direction: function

A
  • set objectives and goals
22
Q

organizational strategies: functions

A
  • design business portfolio: products, service
  • a. Move from corporate level to functional level
    b. The strategy varies far differently from the type of offering: service/products/ideas
23
Q

def. mission

A

a statement of the orgnization’s function in society

24
Q

def: goals and objectives

A

a targeted level of performance set in advance of work

25
Q

def. business statement

A

Clear and broad statement of the firm’s and industry’s offerings and activities with a view to the unfolding future

26
Q

SMART goals=

A

a goal with specific, measurable, attainable, relevant, time-based determines

27
Q

why a business should consider about social responsibility?

A

In order to Balance the conflicting interests of stakeholders to deliver benefits to the society

28
Q

What is an organization’s competencies

A

the special capabilities unique from the other firms

29
Q

the four steps to setup the direction

A
  1. organization’s competencies
  2. competitive advantages
  3. know about the target customers
  4. growth strategies: where to go and how to get there?
30
Q

def. strategic marketing process

A
  • i) an organization assessing where it is at and where it wants to go, and
    ii) allocating marketing resources to its marketing mix each its target markets and achieve its objectives.
31
Q

the three phases of strategic marketing process

A
  • assess the position of the company/products (BCG)
  • determine the next step of market-product strategies
  • tracking strategic direction
32
Q

def. marketing plan

A

A plan to implement firm’s strategy to achieve objective (Using Smart + Marketing Metrics)

33
Q

what is on the marketing metrics

A

Performance variables, quantitative measures of value or trend of a marketing activity or result.

34
Q

what is on the marketing dashboard

A

visual computer display of the essential information related to achieving a marketing objective.

35
Q

def. Market segmentation

A

the process of aggregating prospective buyers into groups, or segments, that:

1) have common needs and
2) will respond similarly to a marketing action.

36
Q

def. Points of difference

A

hose characteristics of a product/service that makes it superior to competitive substitutes.

37
Q

what is the single most important factor in the success or failure of a new product?

A

Points of difference

38
Q

def. target selection

A

Selecting feasible segments with the highest points of difference

39
Q

what are the four market-product strategies

A

market penetration
market development
product development
diversification

40
Q

what is market penetration

A

selling more products (current) in existing market (current)

41
Q

what is market development

A

selling existing products (current) in new markets (either geographic or new segments)

42
Q

what is product development

A

selling new products in existing market

43
Q

what is diversification

A

selling new products in a new market

44
Q

The strategic marketing process is divided into three phases

A

planning, implementation, and control.

45
Q

the three steps in the strategic marketing process planning

A

○ Step 1: Framework 3 Do Situation (SWOT) Analysis

	○ Step 2:  Market-Product Focus and Goal Setting

	○ Step 3:  Marketing Plan/Program
46
Q

an integrated marketing plan should include

A

4Ps: Place (distribution), price, promotion, products

Principle of marketing (14 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions