Marketing Final Exam

Cbe model marketing plan top aacsb msc blooms

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Unformatted text preview: LOOMS Synthesis 2. What is marketing myopia? If a movie theater company had a myopic orientation, how might it state its business purpose? If the movie theater company avoided a myopic orientation, how would its business purpose change? ANS: Defining a business in terms of goods and services rather than in terms of the benefits customers seek is called marketing myopia, which implies a narrow, short-term orientation. This orientation can threaten the survival of an organization. If a movie theater had a myopic orientation, it might state its business as “selling tickets to movies.” A better business statement for the theater would be “to provide convenient entertainment.” PTS: 1 REF: 18 Communication KEY: CB&E Model Strategy OBJ: 02-2 TOP: AACSB MSC: BLOOMS Synthesis 3. What is an SBU? If properly created, what characteristics should an SBU have? ANS: SBU is an acronym for strategic business unit, defined as a subgroup of a single business or collection of related businesses within the larger organization. A popular technique for managing large, heterogeneous organizations is to divide the firm into SBUs. When properly created, an SBU will have the following characteristics: a distinct mission and specific target market control over its own resources its own competitors plans independent of other SBUs in the organization PTS: 1 REF: 18 Communication KEY: CB&E Model Strategy OBJ: 02-2 TOP: AACSB MSC: BLOOMS Synthesis 4. What is a SWOT analysis? How does it relate to strategic planning? ANS: The SWOT acronym represents the four components of a situation analysis, the second step in strategic business planning. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal components of the organization that should be analyzed, while opportunities and threats are characteristics of the external environment that should be analyzed. With the SWOT analysis, the company is determining its present status, its current capabilities, and its future expectations. PTS: 1 REF: 18 Communication KEY: CB&E Model Strategy OBJ: 02-3 TOP: AACSB MSC: BLOOMS Synthesis 5. What is environmental scanning? Name four environmental forces that affect marketing decision making. ANS: Environmental scanning is the collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization. It helps identify market opportunities and threats and provides guidelines for the design of marketing strategy. Important forces include those that are: social demographic economic technological political and legal competitive PTS: 1 REF: 18 Communication KEY: CB&E Model Research OBJ: 02-3 TOP: AACSB MSC: BLOOMS Synthesis 6. What is a marketing objective? Name three criteria for good marketing objectives. Use the criteria to write an objective for a business with which you are familiar. ANS: A marketing objective is a statement of what is to be accom...
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This document was uploaded on 09/29/2013.

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