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Marketing 151 - Chapter 2 Key Information | MKTG - Business Marketing, Quizzes of Marketing Business-to-business (B2B)

Class: MKTG - Business Marketing; Subject: Marketing; University: Latter Day Saints Business College; Term: Forever 1989;

Typology: Quizzes

2011/2012

Uploaded on 09/22/2012

floydben
floydben 🇺🇸

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TERM 1
What is marketing strategy?
DEFINITION 1
Knowing your target audience and the plan to
reach/sell them.
TERM 2
Starbucks' marketing strategy includes things
like...
DEFINITION 2
LocationsPerceived value Leisure 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
1. 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.
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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

  1. 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

  1. 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

  1. Planning Phase2. Implementation phase3. Control phase