Marketing Planning and Analysis
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Course Introduction
Marketing Planning and Analysis is a comprehensive course that explores the fundamental principles and processes involved in developing effective marketing strategies. Students will learn how to conduct detailed market analysis, identify target audiences, assess competitive landscapes, and utilize data-driven insights to inform decision making. The course emphasizes the integration of marketing research, goal setting, resource allocation, and performance evaluation within the framework of strategic planning. Through case studies and practical projects, students will acquire the analytical and creative skills necessary to design and implement marketing plans that drive business growth in dynamic environments.
Recommended Textbook
Marketing Strategy 6th Edition by O.C Ferrell
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10 Chapters
297 Verified Questions
297 Flashcards
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Chapter 1: Marketing in Today's Economy
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25 Flashcards
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Sample Questions
Q1) Which of the following statements about pricing decisions in the marketing program is TRUE?
A) Price is one of two elements of the marketing mix that leads to revenue.
B) Price has a direct connection with customer demand.
C) Pricing is the least manipulated element of the marketing mix.
D) Pricing is the most difficult element of the marketing mix to change.
E) Customers will always equate higher prices with higher quality products.
Answer: B
Q2) Although mass media audiences are becoming increasingly fragmented. media fragmentation does have a major advantage. What is this advantage?
A) It now costs less to reach a mass audience.
B) It is much easier to measure feedback from mass media audiences.
C) It is now easier to reach small, highly targeted audiences.
D) Consumers are now much more receptive to television advertising.
E) Consumers are now highly susceptible to online advertising.
Answer: C
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3
Chapter 2: Strategic Marketing Planning
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25 Flashcards
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Sample Questions
Q1) Whether at the corporate. business-unit. or functional level. the planning process always begins with an in-depth:
A) a statement of goals and objectives.
B) a situation analysis.
C) strategy for achieving growth.
D) statement of the organization's competitive advantages.
E) assessment of the organization's resources.
Answer: B
Q2) Which of the following IS NOT a purpose of a marketing plan?
A) It explains the present and future situations of the organization.
B) It specifies the expected outcomes of the plan.
C) It describes specific actions that are to take place.
D) It explains how marketing activities mesh with other functional areas.
E) It identifies resources needed to carry out the plan.
Answer: D
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4
Chapter 3: Collecting and Analyzing Marketing Information
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Sample Questions
Q1) What is perhaps the most important economic reality in the United States over the last 50 years?
A) Real GDP has declined dramatically since the end of World War II.
B) The middle class has been shrinking.
C) Virtually all U.S. citizens have become wealthier.
D) Our economy has shifted to become dominated by intangibles such as services and information.
E) Our economy is still suffering from the very high inflation rates of the 1970s.
Answer: D
Q2) The growth of the Internet has changed the way that situation analysis is conducted in today's business environment. In terms on situation analysis. which of the following is the most drastic change caused by the Internet?
A) Specific data and information take longer to find.
B) The analyst is more likely to suffer from severe information overload.
C) Data and information are now more relevant to the question at hand.
D) All competitors now have access to the same data and information.
E) There is now no such thing as secrecy in strategic planning.
Answer: B
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Chapter 4: Developing Competitive Advantage and Strategic Focus
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Sample Questions
Q1) Why is it important that marketing goals involve some degree of intangibility?
A) It makes it more difficult for competitors to determine the firm's marketing strategy.
B) It makes goals more consistent with the objectives that follow.
C) It makes goals easier to achieve.
D) It promotes learning by forcing employees to ask questions about the strategy.
E) It makes the goal more motivational and promotes continuous improvement
Q2) May firms. like the Altria Group. focus on diversification in their marketing strategies because they possess:
A) many internal strengths and many external opportunities.
B) many internal weaknesses and many external opportunities.
C) many internal strengths and few external opportunities.
D) many internal strengths and many external threats.
E) many internal weaknesses and many external threats.
Q3) Identify and explain the major characteristics of marketing goals.
Q4) Identify and explain the major characteristics of marketing objectives.
Q5) Discuss each of the three competitive advantage strategies (operational excellence. product leadership. customer intimacy) and explain why most firms pursue only one of these strategies.
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Chapter 5: Customers Segmentation and Target Marketing
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Sample Questions
Q1) One of the most successful and well-known tools of __________ segmentation is VALS developed by Strategic Business Insights.
A) psychographic
B) geographic
C) demographic
D) geoclustering
E) emotional
Q2) Each of the following statements describes a unique characteristic of the business buying process \(\bold{EXCEPT:}\)
A) Business buyers have an easier time identifying their needs as compared to consumers.
B) Business buyers must be keenly aware of both hard and soft costs.
C) Groups of people, rather than individuals, often make purchase decisions.
D) Business buyers are less likely to be dependent upon each other.
E) Business buying is sometimes based on reciprocity where each firm buys products from the other.
Q3) Describe how the business buying process differs from the consumer buying process. Include an explanation of the unique characteristics of business markets.
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Chapter 6: The Marketing Program
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Sample Questions
Q1) Because the company was angered by the actions of its resellers. Acme Manufacturing decided to slow down deliveries and postpone product availability to these resellers. What type of power is Acme wielding in the channel?
A) legitimate power
B) coercive power
C) referent power
D) reward power
E) logistical power
Q2) Price elasticity is defined as:
A) a situation where prices routinely move up and down in a short period of time.
B) customers' responsiveness or sensitivity to changes in price.
C) the impact on a product's demand when customers are in unique buying situations.
D) the relative ease with which prices can be changed.
E) price flexibility-a pricing strategy used by startup firms.
Q3) Identify and discuss the three major structural options for distribution. In your answer. identify the major advantages and disadvantages of each option.
Q4) Identify and discuss reasons why firms become so infatuated with pricing.
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8
Chapter 7: Branding and Positioning
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Sample Questions
Q1) Best Buy offers many different manufacturer (name) brands including HP. Panasonic. Sony. and Canon. Which of the following is a primary reason that Best Buy would offer these and other manufacturer brands?
A) increased profit margin
B) reduced marketing costs
C) less competition
D) total control over marketing
E) increased loyalty to Best Buy
Q2) One way of looking at __________ is to consider the marketing and financial value associated with a brand's position in the marketplace.
A) brand equity
B) brand identity
C) brand equality
D) brand value
E) brand capitalization
Q3) Explain the key differences between product differentiation and product positioning. Other than branding. what are other factors on which product differentiation can be based?
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9
Chapter 8: Ethics and Social Responsibility in Marketing Strategy
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Sample Questions
Q1) To ensure that ethics and social responsibility are thoroughly incorporated into the firm's strategic planning process. the firm's __________ should never be silent about ethical requirements and social responsibility.
A) marketing plan
B) code of conduct
C) leadership team
D) culture
E) training materials
Q2) The link between marketing ethics/social responsibility and firm performance has been documented repeatedly over time. This link is most evident in firms that have a strong __________.
A) market orientation
B) stakeholder orientation
C) sense of customer loyalty
D) ethical climate
E) employee satisfaction program
Q3) Identify and discuss the many challenges of being ethical and socially responsible. Focus on challenges at both the individual (employee) level and the managerial level.
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Chapter 9: Marketing Implementation and Control
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Sample Questions
Q1) __________ is/are considered to be the "glue" of successful implementation that binds the entire organization together as a single. functioning unit.
A) Organizational structure
B) Marketing strategy
C) Systems and processes
D) Leadership
E) Shared goals and values
Q2) According to the internal marketing approach to marketing implementation. which of the following could be best characterized as the "internal product"?
A) additional employee training
B) internal company newsletters
C) new tasks or attitudes on the part of employees
D) the additional effort needed to implement the strategy
E) All of the above.
Q3) Identify and explain the three different types of formal controls used by managers. In your discussion. explain how each type of control affects marketing implementation.
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11
Chapter 10: Developing and Maintaining Long-Term Customer Relationships
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Sample Questions
Q1) Discuss the relationship between customer expectations and customer satisfaction. What might cause expectations to be higher or lower? How is the zone of tolerance a useful diagnostic tool in terms of developing strategies aimed at improving customer satisfaction?
Q2) __________ is defined as a business philosophy aimed at defining and increasing customer value in ways that motivate customers to remain loyal.
A) Lifetime value management
B) Customer orientation
C) Market orientation
D) Customer relationship management
E) Retention management
Q3) Discuss the strategies that can be used to enhance and maintain customer relationships. Identify the key advantages and disadvantages of each strategy. as well as examples of the marketing tactics that my be used.
Q4) Explain the overall objective of customer relationship management and the stages that customers are pulled through in the process. For each stage. identify the marketing goals during the stage as well as examples of strategies that may be used.
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