...Marketing Plan, E- Business A1: I have chosen for my business a local frozen yogurt shop, Let’s Top It. This store is located in a geographically desirable area (on a main road in a residential area near several K-12 schools, and a community college) with a potential large and varied customer base. The store provides a decent variety of frozen yogurt flavor and topping offerings in a clean and friendly environment. The cost of the product is comparable to that of similar businesses’ costs and the way the store operates is similar. The main issue with this company is that they have almost no online presence. There is no webpage, no social media pages, they have a fairly poor search engine presence, and do not appear to be linked with any online advertising presences such as urbanspoon.com or yelp.com. This store also offers no customer loyalty programs that may encourage return visits. As this store has a lot of local competition that does provide all of the above, this business is handicapped as far as generating new business. Since this is a single, privately owned store, there is not a large budget for marketing but increasing the store’s online presence will provide a low- cost way to advertise and encourage more business and repeat business and will help this business be competitive with the other stores in the area. The target demographic is well versed in using the Internet on a daily basis not only for looking at potential sites at which to spend money but...
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...Introduction: E-marketing means using digital technologies to help sell your goods or services. These technologies are a valuable complement to traditional marketing methods whatever the size of your company or your business model. The basics of marketing remain the same - creating a strategy to deliver the right messages to the right people. What has changed is the number of options you have. Though businesses will continue to make use of traditional marketing methods, such as advertising, direct mail and PR, e-marketing adds a whole new element to the marketing mix. Many businesses are producing great results with e-marketing and its flexible and cost-effective nature makes it particularly suitable for small businesses. This guide describes how to develop an e-marketing plan and provides guidance on implementing that plan and monitoring its effectE-business has transformed the way companies function in today's economic marketplace. The technological advances of the past few decades have given businesses the ability to grow and expand beyond their local market. The Internet allows small businesses to reach national or global consumers with their products and services, increasing their sales and profits. Along with these advantages come some disadvantages, creating higher levels of economic challenges not previously seen. The field of entrepreneurship is widely represented on the Internet through small and large companies that perform their entire operations, or a large portion...
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...MCQ’S Chapter 1: Defining Marketing for the 21st Century 1. Good marketing is no accident, but a result of careful planning and ________. a. execution b. selling c. strategies d. tactics e. research Answer: a Page: 4 Level of difficulty: Medium 2. Marketing is both an “art” and a “science”—there is constant tension between the formulated side of marketing and the ________ side. a. creative b. selling c. management d. forecasting e. behavior Answer: a Page: 4 Level of difficulty: Easy 3. The most formal definition of marketing is ________. a. meeting needs profitably b. identifying and meeting human and social needs c. the 4Ps (Product, Price, Place, Promotion) d. an organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders. e. improving the quality of life for consumers Answer: d Page: 6 Level of difficulty: Medium 4. Marketing management is ________. a. managing the marketing process b. monitoring the profitability of the companies products and services c. selecting target markets d. developing marketing strategies to move the company forward e. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value Answer: e Page: 6 Level of difficulty: Easy 5. A transaction involves...
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...commerce. In order for the marketing student to grasp the complexities of these issues in the real business world, each student will be assigned to a special project group that will design and create an integrated Ecommerce business plan for a newly developed online company. Each team will be assigned a specific type of online business model. Project Concept: Each special project group will function as a marketing design team that will meet on several occasions to determine project requirements. Each group will be responsible for creating the appropriate Ecommerce business model, as part of the integrated Ecommerce marketing plan. Strategic market planning is a process directed towards making decisions with tomorrow in mind. As such, strategic market planning is a means of preparing for future decisions so that a firm can rapidly and economically, start and move forward with as little disruption to the business as possible. Proper strategic market planning can provide considerable benefits to start up firms, especially those firms requiring substantial financial backing or are involved in highly turbulent or changing environments online. Proper strategic market planning can act as a road map to guide long term plans, assist in strategy implementation, and encourage better use of resources. Project Criteria: Each team will develop an appropriate business model for a startup company in the online marketplace. Review current academic, business, marketing, consumer and technology...
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...your e-marketing plan It is important to recognise that planning for e-marketing does not mean starting from scratch. Any online e-communication must be consistent and work with the overall marketing goals and current marketing efforts of your business. The main components of an e-marketing plan will typically include the following stages: * Identify your target audience - if you identify multiple targets, rank them in order of importance so that you can allocate resources accordingly. Profile each target group and understand their requirements, expectations and online behaviour so that you can pitch your costs and benefits at the correct level. Profiling your target audience will also help you design an e-marketing campaign that will persuade the target to engage with your business. * Set your objectives - possible objectives could include awareness raising (of your business, products or services), entering new markets, launching a new product, focusing on sales (building internet sales or increasing the frequency of sales), or internal efficiency (decreasing marketing costs, reducing order-taking and fulfilment costs, or improving customer retention rates). * Decide upon the marketing mix - you should choose a mix of e-marketing activities that will help you achieve your objectives and fit with any existing traditional marketing activities you already have planned. For an outline of the range of e-marketing options, see our guide on how to generate business from...
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...Marketing is the process of a) promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders. b) creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment. c) delivering a standard of living to a society. d) creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives. e) focusing on customers' needs. Ans: b AACSB: Communication CBE: Model Marketing Plan Difficulty level: Moderate Page: 4 Type: Knowledge The definition of marketing implies that ______ should receive benefits from exchange relationships. a) only customers b) only businesses c) company management d) both customers and businesses e) only the most important customers Ans: d AACSB: Communication CBE: Model Marketing Plan Difficulty level: Easy Page: 4 Type: Knowledge The marketing concept is best defined as a) a second definition of marketing. b) a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals. c) the performance of business activities that direct the flow of goods and services from producer to customer or user...
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...com/BUS-305-Final-Exam-Latest-2014-111114.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com BUS305 Final Exam Question1 Marks: 1 Which of the following is NOT a characteristic of a small business? Choose one answer. a. Provides goods and/or services to customers b. Provides society with social or educational services without concern for making a profit c. Establishes goals and meets them in an efficient manner d. Helps the economy by employing people e. Has 500 or fewer employees Question2 Marks: 1 What are individuals who take responsibility for the development of innovations of any kind within larger organizations called? Choose one answer. a. Crazy b. Entrepreneurs c. Inventors d. Intrapreneurs e. Engineers Question3 Marks: 1 Which of the following is one of the major reasons why people want to own and operate their own business? Choose one answer. a. To be their own boss b. To make a fortune c. To have complete freedom d. To have an easy life e. To eliminate all pressure Question4 Marks: 1 Choose the best answer to fill in the blank. The majority of Americans entered the business world by working for _______________, which are constantly creating jobs and providing opportunities for a vast number of workers. Choose one answer. a. Franchises b. Small businesses c. Entrepreneurs d. Sole proprietorships e. Not-for-profit organizations Question5 Marks: 1 Fill in...
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...implementing a strategic plan when it sponsored a local karate tournament for teenagers. ANS: F Such a short-range decision is typically a tactical plan or operating decision, not a strategic plan. PTS: 1 REF: 35 OBJ: 02-1 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy 2. The marketing plan is a written document that acts as a guidebook of marketing activities for a marketing manager. ANS: T PTS: 1 REF: 36 OBJ: 02-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Marketing Plan 3. A firm's mission statement should answer the question, "What products do we produce best?" ANS: F Mission statements should not focus on specific product offerings but on the market or markets served. PTS: 1 REF: 37 OBJ: 02-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 4. A production costs analysis could be a part of a company’s SWOT analysis. ANS: T PTS: 1 REF: 38 OBJ: 02-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 5. Environmental scanning entails the collection and analysis of information about factors that may affect the organization as well as the identification of market opportunities and threats. ANS: T PTS: 1 REF: 39 OBJ: 02-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 6. To be useful, marketing objectives should meet four criteria: realistic, measurable, time-specific, and based on sales. ANS: F The four criteria for useful marketing objectives are: realistic...
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...Chapter 15—Marketing Performance Measurement MULTIPLE CHOICE 1. The balanced scorecard measures the performance of a business unit from: |a. |a customer perspective. | |b. |a financial perspective. | |c. |a learning and growth perspective. | |d. |all of the above. | |e. |(a) and (b) only. | ANS: D PTS: 1 NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Managing strategy & innovation 2. The level of marketing control that examines whether the strategy is being implemented as planned and whether it produces the intended results is termed: |a. |strategic control. | |b. |annual plan control. | |c. |strategic component control. | |d. |profitability control. ...
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...The Elements of Marketing Mix H-E-B refers to Here Everything is Better. H-E-B is one of the largest food chains in the United States. The company is family business. The company opens its first supermarket in 1950s. In 2008 the company has more than 307 stores in Texas and Northern Mexico. Decision business makers have a wide variety of decision- making to choose from, depends on what the company needs and what work best for the company. The elements of the marketing mix, the development of the organization’s marketing strategy and tactics and how these elements are implemented plays an important role in the success of the organization. Describe how each of the four elements of the marketing mix affects the development of the organization’s marketing strategy and tactics. Developing strategic plan is not only for big organization, small businesses can also benefit from that. Marketing strategy is about business revenue goals. Marketing strategy plan specify the target market. In this section the business set goals and high –level strategies. Organizations use marketing mix to help achieve these goals. Marketing strategy specifies these particular target customers. Marketing mix helps to achieve those particular targets. In product section, companies have specific description of the product or the service they will provide or sell. A good description of the products helps the customer to understand the product or the service. ...
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...Strategic Marketing 1. Suppose you are a marketing manager at Procter & Gamble for a new, all-purpose cleaning product. List four marketing mix variables and describe the decisions and activities associated with each. AACSB: Reflective Thinking CBE: Model Marketing Plan Difficulty level: Moderate Page: 5-8 Type: Application 2. Describe several activities encompassed by the distribution variable. AACSB: Reflective Thinking CBE: Model Distribution Difficulty level: Moderate Page: 8 Type: Knowledge 3. Explain why marketing efforts should be oriented toward creating and sustaining satisfying exchange relationships. AACSB: Analytic CBE: Model Strategy Difficulty level: Easy Page: 9 Type: Knowledge 4. What is meant by the term relationship marketing? How does relationship marketing affect the customer? AACSB: Reflective Thinking CBE: Model Customer Difficulty level: Easy Page: 14 Type: Knowledge 5. What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships? AACSB: Analytic CBE: Model Strategy Difficulty level: Moderate Page: 9-10 Type: Knowledge 6. What is meant by the term marketing concept, and what departments of a company does it affect? AACSB: Reflective Thinking CBE: Model Marketing Plan Difficulty...
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...com/BUS-305-Final-Exam-Latest-2014-111114.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com BUS305 Final Exam Question1 Marks: 1 Which of the following is NOT a characteristic of a small business? Choose one answer. a. Provides goods and/or services to customers b. Provides society with social or educational services without concern for making a profit c. Establishes goals and meets them in an efficient manner d. Helps the economy by employing people e. Has 500 or fewer employees Question2 Marks: 1 What are individuals who take responsibility for the development of innovations of any kind within larger organizations called? Choose one answer. a. Crazy b. Entrepreneurs c. Inventors d. Intrapreneurs e. Engineers Question3 Marks: 1 Which of the following is one of the major reasons why people want to own and operate their own business? Choose one answer. a. To be their own boss b. To make a fortune c. To have complete freedom d. To have an easy life e. To eliminate all pressure Question4 Marks: 1 Choose the best answer to fill in the blank. The majority of Americans entered the business world by working for _______________, which are constantly creating jobs and providing opportunities for a vast number of workers. Choose one answer. a. Franchises b. Small businesses c. Entrepreneurs d. Sole proprietorships e. Not-for-profit organizations Question5 Marks: 1 Fill in...
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...Marketing Management, 14e (Kotler/Keller) Chapter 2 Developing Marketing Strategies and Plans 1) The task of any business is to ________. A) create customer needs B) differentiate in terms of cost of production C) deliver customer value at a profit D) reduce competition E) communicate similar value as provided by competitors Answer: C Page Ref: 33 Objective: 1 Difficulty: Easy 2) What is the traditional view of marketing? A) Firms should just focus on production because if the products are good then they will automatically sell. B) Firms should just focus on production and selling because marketing occurs as a part of the selling process. C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. D) Firms should price their products as low as possible so that marketing them becomes easy. E) Firms should remember that promotion is the most important of the four Ps. Answer: B Page Ref: 33 Objective: 1 Difficulty: Easy 3) Value delivery process can be divided into three phases, out of which "choosing the value" implies _______, which is the essence of strategic marketing. A) segmentation, developing, and delivering B) targeting, positioning, and communicating C) targeting, positioning, and delivering D) segmentation, targeting, and positioning E) researching, developing, and delivering Answer: D Page Ref: 34 Objective: 1 AACSB: Reflective thinking Difficulty:...
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...Principles of Marketing, 15e (Kotler/Armstrong) Chapter 2 Company and Marketing Strategy: Partnering to Build Customer Relationships 1) ________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities. A) Benchmarking B) SWOT analysis C) Market segmentation D) Strategic planning E) Diversification Answer: D Page Ref: 41 Skill: Concept Objective: 2-1 Difficulty: Easy 2) Which of the following is true with regard to strategic planning? A) At the corporate level, the company starts the strategic planning process by determining what portfolio of businesses and products is best for the company. B) A strategic plan deals with a company's short-term goals. C) Finding the game plan for long-run survival and growth is the focus of strategic planning. D) The strategic plan is a statement of an organization's purpose. E) Strategic planning involves identifying segments of consumers with identical preferences. Answer: C Page Ref: 41 Skill: Concept Objective: 2-1 Difficulty: Moderate 3) Which of the following is the first step in strategic planning? A) setting short-term goals B) developing the business portfolio C) defining the organizational mission D) formulating the key marketing strategies E) identifying the organization's weaknesses and the threats it faces Answer: C Page Ref: 41 Skill: Concept Objective: 2-1 Difficulty: Easy 4) Which...
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...Chapter 01 The Scope and Challenge of International Marketing True / False Questions 1. (p. 3) Global commerce thrives during peacetime. TRUE Difficulty: Easy Type: Knowledge 2. (p. 4) To date, the lesson for international commerce in the 21st century is "expect the unexpected." TRUE Difficulty: Easy Type: Knowledge 3. (p. 5) Today, every American business is international. TRUE Difficulty: Moderate Type: Comprehension 4. (p. 5) One event that will influence the shape of international business as the future unfolds is the rapid growth of the World Trade Organization, NAFTA, and the European Union. TRUE Difficulty: Moderate Type: Comprehension 5. (p. 5) One event that will influence the shape of international business as the future unfolds is the unprecedented acceptance of communism and socialism in Latin America. FALSE Difficulty: Moderate Type: Comprehension 6. (p. 5) A trend that will impact international business in the future is a mandate to properly manage the resources and global environment. TRUE Difficulty: Moderate Type: Comprehension 7. (p. 5) Today, most business activities are local or regional in scope. FALSE Difficulty: Moderate Type: Knowledge 8. (p. 6, Crossing Borders 1.1) What do French farmers, Chinese fishermen, and Russian hackers have in common--they can all receive subsidy payments from the U.S. government. FALSE Difficulty: Moderate Type: Knowledge 9. (p. 6) Foreign-made products remain a small...
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