QZQZ 2

Because it was able to deliver merchandise overnight, in the required quantities, and at a lower delivery cost than its competitors, a sportswear company was given exclusive rights to sell clothing with school logos for the school district. The company demonstrates ________Blank Excellence.
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Terms in this set (20)
Because it was able to deliver merchandise overnight, in the required quantities, and at a lower delivery cost than its competitors, a sportswear company was given exclusive rights to sell clothing with school logos for the school district. The company demonstrates ________Blank Excellence.
Operational
Neiman Marcus, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in
a sustainable competitive advantage.
A food truck rewards customers with five points every time they purchase a meal. Once customers earn 25 points, they receive a free meal. What tactic is this business using to achieve customer excellence?
creating customer loyalty
If a firm wants to develop a sustainable competitive advantage, it should
examine its operations and customer relations to identify significant things competitors cannot easily copy.
Some banks offer special accounts designed to attract teenagers. Savings in these accounts are generally small amounts, which cost banks more to maintain than they are worth; however, bankers know that consumers are creatures of habit and hope that these young people will become adult customers. These banks recognize
the lifetime value of customers.
In mid-2010, Hewlett-Packard Company (HP) acquired Palm Computing Inc., a manufacturer of personal devices and smartphones. Before deciding to acquire the company, strategic planners at HP spent time thinking about how Palm and HP would "fit" together, and how the acquisition might change HP's core goals and objectives. The strategic planners were engaged in which step of the marketing planning process?
define the business mission
What is the third step in the marketing planning process?
identify and evaluate opportunities
In a SWOT analysis, increasing gasoline prices would represent a potential ________
Blank for manufacturers of electric cars.
external opportunity
Zelda is charged with assessing her company's external environment as part of a SWOT analysis. Zelda will study her company's
opportunities and threats.
Starbucks is known for understanding its customers. As such, it has developed multiple varieties of products that match the needs and wants of its different market segments. By offering everything from espresso drinks to teas to pastries, Starbucks is engaging in a(n) ________Blank Strategy.
Positioning
Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been here since 1951." This is part of these firms'positioning strategy.As it pertains to the marketing plan, understanding the causes of performance, regardless of whether that performance exceeded, met, or fell below the firm's goals is important because itenables firms to make appropriate adjustments.An e-book distributor makes sure its customers can download their selections of e-books easily from its website from wherever they are, whenever they want. In so doing, it is focusing on creating value throughplace.Which statement regarding marketing metrics is true?They quantify a trend, dynamic, or characteristic.To determine how attractive a particular market is using the BCG portfolio analysis, ________ Blank is (are) established as the vertical axis.market growth rateYummy Yogurt has developed a new flavor of yogurt that its research has determined is becoming very popular. The sales of the flavor are slow, but the company believes the market is growing rapidly. This product represents a ________ on the BCG matrix.question markJason was thrilled to learn his company has decided to invest a great deal of money in the product he is managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he needs more money to establish it firmly. Using the BCG portfolio analysis, Jason's product would be classified as a(n)star.Sodexo is a food services corporation that caters to school cafeterias, university dining halls, mess halls at military bases, and other large-scale food service facilities. If Sodexo were to begin selling individual frozen meals in supermarkets, it would be pursuing a ______ growth strategy.DiversificationA small, local, heating and air-conditioning business views the nearby military base as a potential source of growth since the company already installs and services the type of equipment the military would require. The company is considering a ________ growth strategy.market developmentMarketers who design and offer new products and services to their existing customers are pursuing a ________growth strategy.product development