Companies use THESE to help track customer preferences.
What are customer databases
100
SWOT
What is strengths, weaknesses, opportunities, threats
100
Decisions involving transportation, warehousing, inventory control, and order processing relate to this strategy.
What is distribution strategy
100
The marketing environment consists of these three parts.
What is political-legal, competitive and socio-cultural.
200
If Best Buy wanted to open a new store in Rogers, Arkansas, but instead renovated a closed K-Mart store, this would be an example of this kind of planning.
What is tactical
200
Marketing strategy
What is an overall, company-wide program for selecting a particular target market, and then satisfying consumers in that market through a careful blending of the elements of the marketing mix
200
Target market
What is the group of people to whom a firm directs its marketing efforts
200
Decisions involving customer service, package design, brand names, and warranties are involved in this area of marketing strategy.
What is product strategy
200
This rule states that the three leading firms in an industry will have between 70 and 90 percent of the market.
What is the rule of three
300
Broad spectrum strategic planning usually involves a time frame of this many months or years.
What is 5 years or more
300
Elements of the marketing mix
What is product, distribution, promotion, and price
300
Marketing mix variables
What is promotion, product, pricing
300
Newsletters, catalogs, and invitations to company-sponsored events are most closely associated with the marketing mix activity of this strategy.
What is promotion
300
The product manager for a new mousetrap informs the board of directors at its annual meeting that a product should be withdrawn from the market or sold off as quickly as possible. This is the classification for this product.
What is a dog.
400
When a company is focused on current and near-future activities, it is focused on this kind of planning.
What is tactical
400
Wholesalers and retailers
What are marketing channels
400
A broad concept that encompasses the satisfaction of consumer needs
What is "product"
400
Strategic business unit concept
What is a marketing planning tool best suited to the needs of large, diversified organizations
400
This defines the competitive forces that influences planning strategies.
What is Porter's Five Forces
500
This is the beginning of the planning process
What is writing a mission statement
500
The marketing mix decisions which are most closely regulated and subject to public scrutiny usually relate to this strategy.
What is pricing strategy
500
A blending of four strategic elements to satisfy specific target markets
What is marketing mix
500
The market share/growth matrix lifecycle of a successful product
What is the product begins as a question mark, becomes a star and eventually moves to the status of cash cow
500
The 5 steps to a successful marketing plan.
What is define the organization’s mission;
establish organization objectives;
assess organizational resources and evaluate environmental risks and opportunities;
formulate and implement a marketing strategy;
monitor performance and modify strategy as needed.