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Go Fish Sushi restaurants are primarily located in malls. The restaurants had rapid growth in their first seven years. Now the owner has decided that adding more restaurants would make it impossible to monitor operations. Most likely the owner is pursuing a generic strategy of. Diversification via concentric means D.

Really Big Homebuilders used to purchase many building lots and erect spec homes i. Since the real estate slowdown, it builds homes only when owners are under contract. Most likely the company is pursuing a generic business strategy of. Automobile manufacturers must comply with regulations set by the National Transportation and Safety Board. A discussion of this would be included in the part of a marketing plan. Firm structure and systems C. Political, legal, and ethical D. Firm resources E.

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Threat of new entrants The Busted Puppy, a microbrewery, is creating a marketing plan. Managers are concerned with current distribution. An examination of this issue would be in the section of the marketing plan. Firm structure and systems B.

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Technological C. Firm resources D. Segmentation strategies E. Supply chain strategies Today many retailers create apps that customers can download to their smartphones or tablets to keep up-to-date on the company's offerings. Most likely a description of this would be in the part of a marketing plan.

Economic situation B. Natural factors C. Technological factors D. Bargaining power of suppliers E. Marketing capabilities According to the U. Census, Asian Americans are the highest-income, fastest-growing racial group in America. Most likely an examination of this issue would be in the section of the marketing plan.

Natural factors B.

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Legal issues C. Economic trends D. The price of a barrel of oil has varied dramatically in the last few years. When the price of oil is high, automobile drivers look to find ways to drive less. Bargaining power of buyers B. Bargaining power of suppliers C. Threat of new entrants D. Threat of substitute products E. Rivalry among existing firms One competitive force not addressed directly by Michael Porter is. Power of competitive forces B. Power of substitute forces C. Power of other stakeholders D. Power of suppliers E. Power of potential entrants These capabilities would include all but.

Information systems B. Marketing C. Financial D. Transportation systems across the country E. Human capabilities A SWOT analysis should not. Analyze the competition B. Look at internal strengths C. Include factors from the situation analysis D. Identify natural factors E. Suggest solutions to problems The best place in a SWOT analysis to list the competitive trends is.

External opportunities B. External threats C. Internal opportunities D. Internal strengths E. Internal weaknesses The best place in a SWOT analysis to identify problems with hurricanes, earthquakes, major snowfalls, and other natural phenomena is. The best place in a SWOT analysis to identify rising interest rates and availability of credit for a firm seeking to expand through new construction of real estate is.

The best place in a SWOT analysis to identify an increased marketing budget is in. The best place in a SWOT analysis for an airline to identify the possibility of acquiring a competitor is in. The best place in a SWOT analysis for a wristwatch manufacturer to identify the threat of substitute products like cell phones is in. Swag Suitz, a manufacturer of male clothing, finds that the informal atmosphere that was created by the three founders is no longer manageable now that the firm has more than employees.

Managers have determined a need for a human resources department. An examination of this issue would be found in the part of the situation analysis. Firm structure B. Firm culture C. Firm leadership D. Firm history Goals and objectives should be set. At the beginning of marketing planning B.

At the end of the situation analysis C. After marketing strategies are fixed D. After completion of all market research, situation analysis, and competitor analysis E. None of these Listen HEAR! The firm is concerned that tariffs may be increased. An examination of this issue would take place in the part of the situation analysis.

Economic factors B. Competitive factors D. Political, legal, and ethical factors E. Logistical factors Malala, the marketing manager of an automobile dealership, is crafting a SWOT analysis. She should include the downturn in the U.


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Strengths B. Threats C. Opportunities D. Strategies E. Weaknesses Malala has many items to include in the SWOT analysis for an automobile dealership. An examination of competitors that have gone bankrupt would be included in the section. Roberta's company, New Home Builders Corp. The company's strong value proposition has allowed it to maintain steady market share in a weak housing market.

A discussion of this relative advantage would be included in the section of the SWOT. Open Sesame is a chain of Thai restaurants located in the western United States. The marketing manager has discovered that there is a growing demand for Spanish food and that Latino Americans spend more money on food away from home than other ethnic groups.

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This information would be included in the part of the SWOT analysis. The U. A discussion of this would be included in the section of the SWOT. The marketing manager at Little Red Schoolhouse Architects, a firm that specializes in the design of school buildings, discovered a glitch in the software that the firm uses and that some of its most recent projects will come in overbudget.

Pegasus Express, a well-established North American delivery service, wants to expand service into Central and South America. This is classified as in Ansoff's Product-Market Matrix. Market diversification B. Marketing strategy development C. Market penetration D.

Product development E. Market development Call Company has 12 call centers worldwide handling customer service issues for a variety of companies. The firm is considering the purchase of a software firm that serves the oil and gas industry. Most likely, this would be classified as in Ansoff's Product-Market Matrix. A former professional football player invested in a seafood restaurant chain when he played ball. Now that he is retired from the NFL and has time to devote to his business interests, he and his partners want to start a chain of organic fast-casual restaurants in their region of 6 million households.

Bliss Massage Therapy Center maintains a database of over clients and sends each one a special discount offer in the month of his or her birthday. Managers hope that as existing customers use the discount, they will see an overall growth in sales. He thinks that the firm has many brand-loyal customers who would buy it. Most likely, this would be classified as in Ansoff's Product- Market Matrix.

Body Builders Gym's marketing team wants to stay open until a. The gym currently closes at midnight. Inga, marketing manager at Oh, Baby!

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This makes sense as she wants to extend the trusting relationship already established with parents and children. Jamal's boss wants him to travel to Canada to investigate opening retail stores in Montreal and Ottawa. The firm operates stores in the United States. Most likely, the extension into a new geographic region would be classified as in Ansoff's Product-Market Matrix.

The process of measuring marketing results and adjusting the marketing plan as needed is called. Marketing control B. Marketing metrics C. Marketing management D. Marketing planning One reason for developing is that the firm must be nimble in responding to bad publicity resulting from product tampering or failure, ethical or legal misconduct of an officer, or some other aspect of operation that garners bad press. Mission statements B. Forecasting C. Press releases D. Contingency plans E. Alternative company names Every marketing plan includes an implementation element.

These are sometimes called. Strategic plans B. Marketing programs C. Value propositions D. Action plans E. Marketing channels Implementation elements, or action plans, should include. Timing B. A way to measure results C. The identity of the responsible person D. The identification of resources needed E. All of these One part of a marketing plan should identify what to do if things go wrong. This section is called. Contingency planning B. Strategic planning C.

Marketing metrics D. Marketing programs Contingency plans should include. Best-case scenarios B. Worst-case scenarios C. Expected-case scenarios D. Best-case scenarios and Worst-case scenarios only E. Best-case scenarios, Worst-case scenarios, and Expected-case scenarios Marketing plans are.

A means of gathering input from stakeholders throughout the firm B. Essential for the firm's success C. A rallying point for creativity D. Well articulated E. Scott is a plumbing fixture manufacturer's salesperson. He sells to wholesalers, homebuilders, and retailers. His marketing plan calls for going to four trade shows a year. He recently found out that there would be a new Home Show aimed at consumers in his territory and he wants to attend. His boss says "Go for it! Stay flexible. Utilize input, but don't become paralyzed by information and analysis.

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Don't underestimate the implementation part of the plan. Stay strategic, but also stay on top of the tactical. Give yourself and your people room to fail and try again. Mary's firm has delayed making a decision on acquiring a new product line. Her staff has analyzed and tweaked numbers for three months. Most likely, the staff needs to be reminded of which concept? Tyler's event planning company hired a new marketing assistant. He says he is a "big-picture person," not a detail-oriented person. Most likely, Tyler is about to find out that the new assistant needs to be coached in which concept?

Samantha has worked for MJS Marketing for five years and expected a promotion next month. However, the new product launch that she organized did not go as smoothly as expected. This was the first time the company had hired an outside firm for promotions and Sam is worried that will reflect poorly on her. Sam's terrific boss will most likely remind her of which concept?

Tips for producing a successful marketing plan include which concept s? All of these. TRUE Value was defined from a customer's perspective as a ratio of the bundle of benefits a customer receives from an offering compared to the costs incurred by the customer in acquiring that bundle of benefits. Topic: Value Is at the Core of Marketing 2. TRUE A benefit is some type of utility that a company and its products and services provide its customers. Topic: Value Is at the Core of Marketing TRUE The three utilities—time, place, and ownership—are created by marketing.

They are created when products are available to customers at a convenient location when they want to purchase them, and facilities of exchange are available that allow for transfer of the product ownership from seller to buyer. Topic: Value Is at the Core of Marketing 4. TRUE When South Korean-based Samsung first brought its brand to the United States, it communicated a message centered primarily on functionality at a moderate price—a strategy designed to provide an advantage over pricier Japanese brands.

But over time, Samsung's value proposition has expanded to include innovativeness, style, and dependability—the latter of which was helped significantly by high ratings of many of the company's products by sources such as Consumer Reports. FALSE When a firm communicates the value proposition of its products to customers, the value message may include the whole bundle of benefits the company promises to deliver, not just the benefits of the product itself. Topic: Value Is at the Core of Marketing 6. FALSE For firms interested in building long-term customer relationships, having satisfied customers is not enough to ensure the relationship is going to last.

Topic: Value Is at the Core of Marketing 7. TRUE One can think of value as a ratio of benefits to costs, as viewed from the eyes of the beholder the customer. Difficulty: 1 Easy Learning Objective: Examine the concept of value and the elements and role of the value chain.

Topic: Value Is at the Core of Marketing 8. TRUE Outbound logistics—how the firm transports and distributes the final products to the marketplace.

AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process. FALSE CEOs in recent years have been concentrating on aligning the various elements of the value chain, meaning that all facets of the company are working together to ensure that no snags will negatively impact the firm's value proposition.

From a customer's perspective, when the supplier's value chain is working well, all the customer tends to see are the results of a well- aligned value chain: quality products, good salespeople, on-time delivery, prompt service after the sale, and so on. However, it takes only one weak link in the value chain and the whole process of cultivating satisfied and loyal customers can be circumvented. FALSE At the functional or operational level, marketing little m represents the specific programs and tactics aimed at customers and other stakeholder groups and includes everything from brand image, to the message salespeople and advertisements deliver, to customer service, to packaging and product features—in fact, all elements of operationalizing the marketing mix and beyond.

AACSB: Communication Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process. FALSE Stars high share, high growth : important to building the future of the business and deserving any needed investment. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 2 Medium Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process.

It also evaluates the business on two dimensions—market attractiveness and business position, which refers to its ability to compete. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process. The investment decision is again suggested by the position on a matrix.

A business that is favorable on both dimensions should usually be a candidate to grow. When both market attractiveness and business position evaluations are unfavorable, the marketing planning and strategy, while analytical in nature, often yield very funny marketing communication programs. AACSB: Communication Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process.

Most mission statements also include a discussion of what the company would like to become in the future— its strategic vision. TRUE Goals, general statements of what the firm wishes to accomplish in support of the mission and vision, eventually become refined into specific, measurable, and hopefully attainable objectives for the firm.

AACSB: Communication Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 3 Hard Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process. TRUE The Sarbanes-Oxley Act of commonly referred to as SOX established specific procedures and processes to ensure ethical conduct at the highest levels of a company including the board of directors and senior management.

AACSB: Communication Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process.

TRUE Strategy has two key phases: formulation or development and execution. Topic: Elements of Marketing Planning TRUE The pressure to constantly achieve accelerated growth is much less intense in many business cultures outside the United States. The hassle factor One can think of value as a ratio of benefits to costs, as viewed from the eyes of the beholder the customer.

That is, customers incur a variety of costs in doing business with any firm, be those costs financial, time, opportunity costs, or otherwise. Both marketing's task in creating an offering that has value and the firm's task in deciding where to distribute the product Form utility is created when the firm converts raw materials into finished products that are desired by the market. Place The three utilities—time, place, and ownership—are created by marketing. Time and place The three utilities—time, place, and ownership—are created by marketing.

Place Form utility is created when the firm converts raw materials into finished products that are desired by the market. The Boston Consulting Group Created by Michael Porter in his classic book Competitive Advantage, the value chain serves as a means for firms to identify ways to create, communicate, and deliver more customer value within a firm. Exhibit 2. Marketing and sales See Exhibit 2. Service Inbound logistics—how the firm goes about sourcing raw materials for production. Service Marketing and sales—how the firm communicates the value proposition to the marketplace.

Service Operations—how the firm converts the raw materials into final products. Procurement Human resource management—how the firm ensures it has the right people in place, trains them, and keeps them. Top Gun Stars high share, high growth : important to building the future of the business and deserving any needed investment. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process.

On February 6, , Apple announced that the twenty-five billionth song had been downloaded. Top Gun Cash Cows high share, low growth : key sources of internal cash generation for the firm. Top Gun Problem Children, or Question Marks low share, high growth : high cash needs that, if properly nurtured, can convert into stars.


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  7. This promising new product line would most likely be classified as a. Marketing See Exhibit 2. Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 3 Hard Learning Objective: Understand the conditions required for successful marketing planning, that marketing planning is focused on the value proposition, and that marketing planning is a dynamic process. Seller Inventory LIE Brand new book, sourced directly from publisher. Dispatch time is working days from our warehouse. Book will be sent in robust, secure packaging to ensure it reaches you securely.

    Book Description Wiley, Ships with Tracking Number! Buy with confidence, excellent customer service!. Condition: Brand New. In Stock. Basic Marketing Management 2e. This specific ISBN edition is currently not available. View all copies of this ISBN edition:. From the Publisher : Focuses on all aspects of planning, coordinating and executing marketing strategy. About the Author : Douglas J. Buy New View Book. Other Popular Editions of the Same Title. Search for all books with this author and title. Customers who bought this item also bought. Stock Image. Dalrymple, Leonard J.

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