Chapter 2:Ten Learning Questions (Belinda Tamayo)

Chapter 2: Developing Marketing
Strategies and Plans
10 Learning Questions
Belinda Anne Tamayo

www.hypermarketing2.com

These questions will mostly cover
the following topics:
• Marketing and Customer Value
• Holistic Marketing Orientation and Customer
Value
• Corporate and Division Strategic Planning
• Porter’s Generic Strategies
• The nature and contents of a Marketing Plan

http://beltamayo.blogspot.com/


QUESTION 1
A holistic marketing orientation can help
capture customer value. The holistic framework
is designed to address three key management
questions. Which concept below addresses the
concern on how a company can identify new
value opportunities?



Possible Answers:

a. Value Exploration
b. Value Creation
c. Value Delivery
d. None of the above



Concepts

a. Value Exploration – Addresses the concern on how
can a company identify new value opportunities
b. Value Creation – Addresses the concern on how can
a company efficiently create more promising new
value offerings
c. Value Delivery – Addresses the concern on how can
a company use its capabilities and infrastructure to
deliver the new value offerings more efficiently


1. A holistic marketing orientation can help capture
customer value. The holistic framework is designed to
address three key management questions. Which
concept below addresses the concern on how can a
company identify new value opportunities?

a. Value Exploration
b. Value Creation
c. Value Delivery



QUESTION 2

______ is a tool for identifying
ways to create more customer
value.



Possible Answers:
a. Value Delivery Network
b. Value Chain
c. Core Competencies



Concepts
a. Value Delivery Network – This is also known as supply
chain. Many companies partner with specific suppliers
and distributors as a way to gain competitive advantage.
b. Value Chain – Value chain is a tool for identifying ways to
create more customer value
c. Core Competencies – A core competency is a specific
factor that a business sees as being central to the way it,
or its employees, works. It fulfills three key criteria:
– It is not easy for competitors to imitate.
– It can be leveraged widely to many products and markets.
– It must contribute to the end consumer's experienced benefits.



2. ______ is a tool for identifying ways
to create more customer value.

a. Value Delivery Network
b. Value Chain
c. Core Competencies



QUESTION 3
All corporate headquarters
undertake four planning activities
in corporate and division strategic
planning. What is the very first
process that a company should
undergo?



Possible Answers
a. Assess their competitors in the industry
b. Revise their organizational structure
c. Define their corporate mission
d. Address their internal and external issues



Concepts
There are four planning activities that all corporate
headquarters undertake. These are:
1. Defining the corporate mission
2. Establishing strategic business units
3. Assigning resources to each SBU
4. Assessing growth opportunities



3. All corporate headquarters undertake four
planning activities in corporate and division
strategic planning. What is the very first process
that a company should undergo?
a. Assess their competitors in the industry
b. Revise their organizational structure
c. Define their corporate mission
d. Address their internal and external issues



QUESTION 4
Statement:
Organizations develop mission statements
to share with managers, employees, and
customers. Mission statements are at
their best when they reflect a vision, a
realistic and practical idea that provides
direction for the company.



Possible Answers

a. True
b. False



Concepts
Mission Statements
- Organizations develop mission statements to
share with managers, employees, and
customers
- Provides employees with a shared sense of
purpose, direction, and opportunity
- Mission statements are at their best when they
reflect a vision, an almost “impossible dream”
that provides a direction for the company


Statement:
Organizations develop mission statements to
share with managers, employees, and
customers. Mission statements are at their
best when they reflect a vision, a realistic and
practical idea that provides direction for the
company.
a. True
b. False



QUESTION 5
Sabelle Co. plans to pursue a strategy to
achieve the lowest production costs so
they can provide the lowest price
compared to their competitors. Which
Porter’s Generic strategy is Sabelle Co.
pursuing?



Possible Answers:
a. Overall cost leadership
b. Differentiation
c. Focus



Concepts
- Firms pursuing this strategy work hard to achieve the lowest
production and distribution costs so they can price lower than
their competitors and win a large market share
b. Differentiation
- Firms pursuing this strategy concentrates on uniquely achieving
superior performance in an important customer benefit area
valued by a large part of the market
c. Focus
- Firms pursuing this strategy focuses on one or more narrow market
segments. The firm gets to know these segments intimately and
pursues either cost leadership or differentiation within the target
segment


5. Sabelle Co. plans to pursue a strategy to
achieve the lowest production costs so they
can provide the lowest price compared to their
competitors. Which Porter’s Generic strategy
is Sabelle Co. pursuing?
b. Differentiation
c. Focus



QUESTION 6
Trunk Show, a shoe company, plans to offer
customized designs of their sandals. What
they plan to do is offer different types of
materials and designs that their customers
choose from and personalize it. However, they
would have to charge a premium price for the
customization. What Porter’s Generic Strategy
is Trunk Show pursuing?


6. Trunk Show, a shoe company, plans to offer
customized designs of their sandals. What they plan
to do is offer different types of materials and
designs that their customers choose from and
personalize it. However, they would have to charge
a premium price for the customization. What
Porter’s Generic Strategy is Trunk Show pursuing?
b. Differentiation
c. Focus



QUESTION 7
Strategic Alliances take the form of
Marketing Alliances. Which category
refers to one company agreeing to
carry a promotion for another
company’s product or service?



Possible Answers:
a. Product or service alliances
b. Promotional alliances
c. Logistics alliances
d. Pricing collaborations



Concepts
- One company licenses another to produce its product, or two
companies jointly market their complementary products or a
new product
- One company agrees to carry a promotion for another
company’s products or service
- One company offers logistical services for another company’s
product
- One or more companies join in a special pricing collaboration


7. Strategic Alliances take the form of
Marketing Alliances. Which category refers to
one company agreeing to carry a promotion
for another company’s product or service?



QUESTION 8
Which type of marketing alliance refers
to one or more companies joining in a
special pricing collaboration?



8. Which type of marketing alliance refers to
one or more companies joining in a special
pricing collaboration?



QUESTION 9
A marketing plan contains 5 parts. Which
part of the marketing plan presents
relevant background data on sales, costs,
the market, competitors, and the various
forces in the macroenvironment?



Possible Answers:
a. Executive summary and table of contents
b. Situation Analysis
c. Marketing Strategy
d. Financial Projections
e. Implementation Controls



Concepts
- A marketing plan should open with a brief summary and contains a table of
contents that outlines the rest of the plan
a. Situation Analysis
- This section presents relevant background data on sales, costs, the market,
competitors, and the various forces in the macroenvironment.
a. Marketing Strategy
- Here the product manager defines the mission, marketing and financial objectives
shown, and groups and needs that the market offering are intended to satifsy.
a. Financial Projections
- Financial projections include a sales forecast, an expense forecast, and a break-even
analysis
a. Implementation Controls
- This section outlines the controls for monitoring and adjusting implementation of the
plan



9. A marketing plan contains 5 parts. Which
part of the marketing plan presents relevant
background data on sales, costs, the market,
competitors, and the various forces in the
macroenvironment?




QUESTION 10
A marketing plan contains 5 parts. Which
part of the marketing plan outlines the
controls for monitoring and adjusting the
implementation of the plan?



10. A marketing plan contains 5 parts,
which part of the marketing plan outlines
the controls for monitoring and adjusting
the implementation of the plan?




Chapter 2: Developing
Marketing Strategies and Plans

End of Questions



Chapter 2:Ten Learning Questions (Belinda Tamayo)

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