MKTG 409 Exam 4 Pride Textbook MindTap Study Guide – Pricing, Promotion & Marketing
Strategy Review
Chapter 2 - correct answer ✔✔
Explain how an organization can create a *competitive advantage* at the *corporate strategy*
level and at the *business-unit strategy* level. - correct answer ✔✔*Corporate Strategy
Planners* - match the resources of the org with the opportunities and threats of the
environment
*SBU* - should seek to create value for the CO's target markets and attain greater performance,
which marketing research suggests requires implementing appropriate strategic actions and
targeting appropriate market segments.
Identify the major components of *strategic planning* and explain how they are interrelated. -
correct answer ✔✔Organizational mission and goals --> corporate and business-unit strategies
--> Analysis of orgs strengths and weaknesses identification of orgs opportunities and threats -->
marketing, production, finance, HR
What are some issues to consider in analyzing a company's resources and opportunities? How
do these issues affect marketing obj and marketing strategy? - correct answer ✔✔Marketing
environment because it can threaten an org and influence its overall goals affecting the amount
and type of resources the company can acquire.
What is SWOT analysis and why is it important? - correct answer ✔✔SWOT - assessment of an
orgs strengths, weaknesses, opportunities, and threats
shows how marketers must seek to convert weaknesses into strengths threats into
opportunities and match internal strengths with external opportunities to develop competitive
advantages.
How can an organization make its competitive advantages sustainable over time? How difficult
is it to create sustainable competitive advantages? - correct answer ✔✔By matching core
competency to opportunities it has discovered in the marketplace.
Strategy Review
Chapter 2 - correct answer ✔✔
Explain how an organization can create a *competitive advantage* at the *corporate strategy*
level and at the *business-unit strategy* level. - correct answer ✔✔*Corporate Strategy
Planners* - match the resources of the org with the opportunities and threats of the
environment
*SBU* - should seek to create value for the CO's target markets and attain greater performance,
which marketing research suggests requires implementing appropriate strategic actions and
targeting appropriate market segments.
Identify the major components of *strategic planning* and explain how they are interrelated. -
correct answer ✔✔Organizational mission and goals --> corporate and business-unit strategies
--> Analysis of orgs strengths and weaknesses identification of orgs opportunities and threats -->
marketing, production, finance, HR
What are some issues to consider in analyzing a company's resources and opportunities? How
do these issues affect marketing obj and marketing strategy? - correct answer ✔✔Marketing
environment because it can threaten an org and influence its overall goals affecting the amount
and type of resources the company can acquire.
What is SWOT analysis and why is it important? - correct answer ✔✔SWOT - assessment of an
orgs strengths, weaknesses, opportunities, and threats
shows how marketers must seek to convert weaknesses into strengths threats into
opportunities and match internal strengths with external opportunities to develop competitive
advantages.
How can an organization make its competitive advantages sustainable over time? How difficult
is it to create sustainable competitive advantages? - correct answer ✔✔By matching core
competency to opportunities it has discovered in the marketplace.
