Download Marketing 151 - Chapter 2 Key Information | MKTG - Business Marketing and more Quizzes Marketing Business-to-business (B2B) in PDF only on Docsity!
What is marketing strategy?
Knowing your target audience and the plan to reach/sell them. TERM 2
Starbucks' marketing strategy includes things
like...
DEFINITION 2 LocationsPerceived valueLeisure place to hang outStatus symbol TERM 3
Dunkin' Donuts changed marketing strategy
and now their main $ maker is selling...
DEFINITION 3 They sell coffee. 65% of their business.They have the locations.They sell fast.They sellconvenience. TERM 4
A companies sustainable competitive
advantage has 2 primary goals:
DEFINITION 4
- Not easily copied2. Maintained over a long period of time. TERM 5
Does Facebook have a sustainable
competitive advantage?
DEFINITION 5 No. Other companies (Linkedin, Twitter, Pintrest) have made progress in a few years to taking market share.
Name the analogy of a sustainable
competitive advantage? Example?
A very tall wall. Almost no one can climb up it or make a wall as good .Think the NFL, EnglishSoccerLeague TERM 7
The 4 macros (cornerstones) of marketing
strategies for creating value are:
DEFINITION 7
- Customer Excellence - Loyal customers/customer service2. Operational Excellence - Operations efficiency3. Product Excellence - High perceived value with branding4. Locational excellence. - location location location TERM 8
Having your shipping warehouse in
Tennessee would be an example of which
cornerstones?
DEFINITION 8 Operational ExcellenceLocational Excellence TERM 9
Describe how Dunkin' Donuts versus Hostess
have evolved their marketing plan.
DEFINITION 9 Dunkin Donuts use's their locations to sell convienence of getting coffee, not just doughnuts anymore.Hostess has not figured out another product or avenue to sell a healthy or fun snack. TERM 10
A marketing plan has 3 stages. Name them.
DEFINITION 10
- Planning Phase2. Implementation phase3. Control phase
