Monday, June 29, 2015
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Digital Marketing Course Hands On Practical Certificate Courses in Digital Marketing Google Adwords Soical Media & Google Analytics. This course conducted by who is working on digital marketing industry not as part time teacher. Every one starts training center for digital marketing but not sure after the student learn from the center do they can able to handle real task.
Strategic Marketing Planning
MULTIPLE CHOICE
Strategic
Marketing Planning ( TEST BY SELF)
1. Which
of the following statements best describes the nature of a marketing plan?
|
a.
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It clearly outlines the organization’s
mission and vision.
|
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b.
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It outlines how the organization will
raise capital to finance growth.
|
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c.
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It focuses solely on the internal
resources needed to develop a marketing strategy.
|
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d.
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It clearly outlines the organization’s
marketing activities.
|
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e.
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All of these statements describe a
marketing plan.
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ANS: D
2. Whether
at the corporate, business-unit, or functional level, the planning process
always begins with an in-depth:
|
a.
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a statement of goals and objectives.
|
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b.
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a situation analysis.
|
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c.
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strategy for achieving growth.
|
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d.
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statement of the organization’s
competitive advantages.
|
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e.
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assessment of the organization’s
resources.
|
ANS: B
3. When
creating a corporate vision statement, organizations are attempting to answer
which of the following questions?
|
a.
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What do we want to become?
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d.
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How can we be the best?
|
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b.
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What business are we in?
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e.
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Who are we and what do we stand for?
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c.
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What are our competitive advantages?
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||
ANS: A
4. Which
of the following is one of the five basic questions that a good mission
statement should answer?
|
a.
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Who are our competitors?
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d.
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What are our opportunities?
|
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b.
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What is our market position?
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e.
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Where have we been?
|
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c.
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What is our operating philosophy?
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||
ANS: C
5. Sears
at one time lost sight of its mission and jumped into markets that did not fit
its strengths. This occurred because
Sears lacked a mission statement with the appropriate:
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a.
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focus
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d.
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profitability
|
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b.
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strategic fit
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e.
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width
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c.
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stability
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ANS: E
6. All
organizations need a _____, the central scheme for utilizing and integrating
resources in the areas of production, finance, research and development, human
resources, and marketing to carry out the organization’s mission and achieve
desired goals and objectives.
|
a.
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marketing strategy
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d.
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corporate strategy
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b.
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cross-functional strategy
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e.
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corporate mission
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c.
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cross-functional goal
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ANS: D
7. When
a firm possesses capabilities that allow it to serve customers’ needs better
than the competition, the firm is said to have a:
|
a.
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resource advantage
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d.
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marketing advantage
|
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b.
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competitive advantage
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e.
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relative advantage
|
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c.
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value-based advantage
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ANS: B
8. With
respect to developing a marketing plan, what does it mean for a marketing plan
outline to be consistent?
|
a.
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The outline should be sufficient to
ensure that information is not omitted
|
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b.
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The outline should have the ability to
be modified to fit the situation
|
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c.
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The outline should flow in a logical
manner
|
|
d.
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The outline should have some connection
to other functional area plans
|
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e.
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The outline should be consistent across
firms in the same industry
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ANS: D
9. In
a marketing plan, the executive summary should be a complete but concise
overview of the entire marketing plan because:
|
a.
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the executive summary is the most
important part of the plan.
|
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b.
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the executive summary is the first part
of the marketing plan to be written.
|
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c.
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most readers of a marketing plan are
busy and value condensed information.
|
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d.
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the executive summary is the least read
part of the marketing plan.
|
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e.
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the executive summary does not provide
any quantitative information.
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ANS: C
10. In
developing a marketing plan, the section on goals and objectives defines the
parameters by which the firm will measure actual performance. In this respect,
the goals and objectives section is tied closely to the _____ section of the
marketing plan.
|
a.
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SWOT analysis
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d.
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marketing implementation
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b.
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evaluation and control
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e.
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situation analysis
|
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c.
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executive summary
|
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ANS: B
11. Motorola
continuously establishes performance standards and assesses actual performance
by comparing it with these standards. Afterwards, Motorola often takes
corrective action to reduce any discrepancies. This process is most likely
outlined in the _____ section of Motorola’s marketing plan.
|
a.
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evaluation and control
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d.
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SWOT analysis
|
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b.
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marketing strategy
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e.
|
goals and objectives
|
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c.
|
marketing implementation
|
||
ANS: A
12. Which
of the following IS NOT a purpose of a marketing plan?
|
a.
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It explains the present and future
situations of the organization.
|
|
b.
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It specifies the expected outcomes of
the plan.
|
|
c.
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It describes specific actions that are
to take place.
|
|
d.
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It explains how marketing activities
mesh with other functional areas.
|
|
e.
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It identifies resources needed to carry
out the plan.
|
ANS: D
13. While
all marketing plans face a number of obstacles in development and
implementation, _____ is by far the most commonly occurring obstacle across
most firms.
|
a.
|
failure to see the whole picture
|
d.
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lack of time for planning
|
|
b.
|
inadequate information
|
e.
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inadequate communication
|
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c.
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resistance to change
|
||
ANS: E
14. In
the context of marketing planning, why is it vital that the marketing plan be
capable of selling itself to top management?
|
a.
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Because top managers are responsible for
executing the marketing plan
|
|
b.
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Because top managers must be able to
evaluate the performance of the marketing program
|
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c.
|
Because top managers must be able to
clearly communicate the strategy to external stakeholders
|
|
d.
|
Because top managers must decide whether
the marketing plan is the best use for the organization’s scarce resources
|
|
e.
|
Because top managers are compensated on
how well the marketing strategy works
|
ANS: D
15. It
is a well-known fact that most American firms focus on short-term results and
tend to ignore long-range strategy. Why is this mindset not a good approach
when dealing with marketing strategy?
|
a.
|
Because many foreign competitors respond
to market conditions faster than American firms
|
|
b.
|
Because the results of marketing
activities occur over longer planning horizons
|
|
c.
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Because the short-term results of
marketing efforts are always favorable
|
|
d.
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Because the most innovative firms always
take a long-term approach toward marketing strategy
|
|
e.
|
All of the above are valid reasons.
|
ANS: B
16. Focusing
on customers has not always been the hallmark of strategic planning. In fact,
in the early 20th century, firms tended to focus strictly on _____
rather than on developing relationships with customers.
|
a.
|
efficiency and quality
|
d.
|
growth and corporate profits
|
|
b.
|
selling products to customers
|
e.
|
new product development
|
|
c.
|
marketing research
|
||
ANS: A
17. _____
firms are those that successfully generate, disseminate, and respond to market
information.
|
a.
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Customer-oriented
|
d.
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Market-oriented
|
|
b.
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Information-oriented
|
e.
|
Competitive-oriented
|
|
c.
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Satisfaction-oriented
|
||
ANS: D
18. In
today’s business environment, firms that truly focus on customers instill a
corporate culture that places customers and other stakeholders at the top of the
organizational hierarchy. When this occurs, the firm shifts its focus from
transactions to _____, and from _____ to collaboration.
|
a.
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market share; competition
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d.
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value; cooperation
|
|
b.
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information; rivalry
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e.
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long-range planning; contracts
|
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c.
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relationships; competition
|
||
ANS: C
19. Many
firms have shifted to balanced strategic planning because traditional planning
and measurement approaches are not able to capture:
|
a.
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key competitive information to drive
marketing planning.
|
|
b.
|
real-time customer satisfaction metrics.
|
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c.
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the value created by an organization’s
intangible assets.
|
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d.
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either internal or external innovation.
|
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e.
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real-time financial performance metrics.
|
ANS: C
20. The
Balanced Performance Scorecard cautions business leaders to look at strategy
and performance through four interrelated perspectives. Which of the following IS
NOT one of these perspectives?
|
a.
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Financial Perspective
|
d.
|
Learning and Growth Perspective
|
|
b.
|
Customer Perspective
|
e.
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Internal Process Perspective
|
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c.
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Vision and Strategy Perspective
|
||
ANS: C
ESSAY
1. Identify
and discuss the five questions that should be answered by a good mission
statement. Why do you think some firms have mission statements that do not
answer these basic questions?
ANS:
A
well-devised mission statement should answer the same five basic questions:
1. Who are we?
2. Who are our customers?
3. What is our operating philosophy (basic
beliefs, values, ethics, etc.)?
4. What are our core competencies or
competitive advantages?
5. What are our responsibilities with
respect to being a good steward of our human, financial, and environmental
resources?
A mission
statement that delivers a clear answer to each of these questions installs the
cornerstone for the development of the marketing plan. If the cornerstone is
weak, or not in line with the foundation laid in the preliminary steps, the
entire plan will have no real chance of long-term success. In recent years,
firms have realized the role that mission statements can play in their
marketing efforts. Consequently, mission statements have become much more
customer oriented. People’s lives and businesses should be enriched because
they have dealt with the organization. A focus on profit in the mission
statement means that something positive happens for the owners and managers of
the organization, not necessarily for the customers or other stakeholders.
It is
likely that most firms have weak mission statements simply out of neglect.
Perhaps these firms do not understand the importance of having a solid mission
statement. Firms can still be successful if their mission statements do not
answer these five basic questions. However, the potential always exists for the
firm to step beyond its mission and core competencies.
2. Defend
or contradict this statement: “The most important aspect of strategic market
planning is marketing implementation. Without good implementation, nothing gets
accomplished and customers do not receive desired benefits.”
ANS:
It is
difficult to contradict this statement. However, students must realize that
implementation occurs on two fronts: externally with markets and customers and
internally with employees. It is obvious that external implementation is vital
to the success of the strategy—even if the strategy is flawed. In Chapter 1,
the text describes how there are very few rules in marketing. Hence, a bad
strategy could prove to be correct by the time it is implemented. However, poor
implementation is always a key reason for marketing failure.
Internally,
good implementation is essential for getting things done. All marketing plans,
when executed, have repercussions both inside and outside the firm. Even
seemingly disconnected events in finance or human resources can have an effect
on the firm’s ultimate customers—the individuals and businesses that buy the
firm’s products. The short answer is that the firm must rely on its people to
implement the strategy. Hence, good implementation will always consider the
effects of the strategy on employees.
3. Explain
how and why the process of developing a marketing plan might be more important
than the marketing plan document itself. What are the benefits of the planning
process irrespective of the actual outcomes of the process?
ANS:
The key to
the benefits of the planning process is communication, which is vital for
synchronizing actions within the firm. As stated in the quote in Chapter 2:
“the process of
preparing the plan is more important than the document
itself. . . . A
marketing plan does compel attention, though. It makes the
marketing team
concentrate on the market, on the company’s objectives,
and on the
strategies and tactics appropriate to those objectives. It’s a
mechanism for
synchronizing action.”
Research
indicates that organizations that develop formal, written strategic marketing
plans tend to be more tightly integrated across functional areas, more
specialized, and more decentralized in decision making. The end result of these
marketing plan efforts is improved financial and marketing performance.
This
question also coincides with Exhibit 2.4 regarding the key obstacles to
developing and implementing marketing plans. Students should note that lack of
communication is the major stumbling block to effective marketing planning.
4. Identify
and discuss the major problems associated with creating marketing plans. What
are some potential ways that firms and managers can overcome these problems?
ANS:
This
question is based on Exhibit 2.4. Most students will focus on the fact that
poor communication is the key obstacle in developing and implementing marketing
plans. However, astute students will note that most of the factors in the
exhibit are internal characteristics of an organization—most of them being
based in the organization’s culture or management style. Consequently, most of
these obstacles can be overcome by developing a culture that fully supports
strategic planning. This might involve opening channels of communication,
breaking down barriers among departments, employee training, top management
commitment, and dedicating adequate time to the planning process.
5. Discuss
the concept of balanced strategic planning and the approach outlined by the
Balanced Performance Scorecard. What are the five common principles associated
with implementing the balanced approach to strategic planning?
ANS:
The shift
to balanced strategic planning was born out of necessity. As the twenty-first
century approached, firms realized that traditional planning and measurement
approaches could not capture value created by the organization’s intangible
assets. These assets—including such vital issues as customer relationships,
processes, human resources, innovation, and information—were becoming
increasingly important to business success, but they were not being reported
through traditional financial measures.
The basic
tenet of the balanced performance scorecard is that firms can achieve better
performance if they align their strategic efforts by approaching strategy from
four complementary perspectives: financial, customer, internal process, and
learning and growth. The financial perspective is the traditional view of
strategy and performance. This perspective is vital but should be balanced by
the other components of the scorecard. The customer perspective looks at
customer satisfaction metrics as a key indicator of firm performance,
particularly as the firm moves ahead. Financial measures are not suited to this
task because they report past performance rather than current performance. The
internal process perspective focuses on the way that the business is running by
looking at both mission-critical and routine processes that drive day-to-day
activity. Finally, the learning and growth perspective focuses on people and
includes such vital issues as corporate culture, employee training,
communication, and knowledge management.
The five
common principles associated with implementing the balanced approach to
strategic planning are:
1. Translate the
strategy into operational terms. Successful firms can illustrate the
cause-and-effect relationships that show how intangible assets are transformed
into value for customers and other stakeholders. This provides a common frame
of reference for all employees.
2. Align the
organization to strategy. Successful firms link different functional areas
through common themes, priorities, and objectives. This creates synergy within
the organization that ensures that all efforts are coordinated.
3. Make strategy
everyone’s everyday job. Successful firms move the strategy from the
executive boardroom to the front lines of the organization. They do this
through communication, education, allowing employees to set personal
objectives, and tying incentives to the balanced scorecard.
4. Make strategy a
continual process. Successful firms hold regular meetings to review
strategy performance. They also establish a process whereby the firm can learn
and adapt as the strategy evolves.
5. Mobilize change
through executive leadership. Successful firms have committed energetic
leaders who champion the strategy and the balanced scorecard. This ensures that
the strategy maintains momentum. Good leaders also prevent the strategy from
becoming an obstacle to future progress.
The balanced scorecard doesn’t refute the traditional approach to
strategic planning. It does, however, caution business leaders to look at
strategy and performance as a multidimensional issue. Financial measures,
though important, simply cannot tell the whole story. One of the major benefits
of the balanced scorecard is that it forces organizations to explicitly
consider during strategy formulation those factors that are critical to
strategy execution.
Marketing management
Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm's marketing resources and activities
Thursday, June 18, 2015
What is a social media marketing plan?
Learn what a social media marketing plan should include, and follow our 6-step plan for creating your own:
So now you need to create a social media marketing plan. No easy task, right? Many of us struggle to iron out exactly what that is, let alone how to build one from scratch.
CLICK TO KNOW MORE
Tuesday, June 16, 2015
Why Google AdWords ?
Measurable, accountable, flexible
Google AdWords shows how many people notice your ads and what percentage click to visit your website, or call you. With the tracking tools, you can even see the actual sales your website is generating as a direct result of your ads.
Insights around the clock
You can see how your ads are doing at any time by logging in to your Google AdWords account. To save you time, we’ll also send you a monthly summary listing all the key stats and numbers that matter.
Digital marketing learners links
Bloomberg Businessweek’s: Bloomberg Businessweek’s technology page covers the latest technology news about computers, software, consumer electronics, the Internet, and wireless technology and provides product reviews on new tech gadgets.
ClickZ: ClickZ provides expert advice about online marketing, email, brand and interactive marketing, and search engine marketing as well as Internet advertising news, e-commerce market research, Internet statistics and more.
Tech Crunch : Tech Crunch is a Group-edited blog about technology start-ups, particularly the Web 2.0 sector.
Mashable Mashable is a Social Media news blog covering the latest social media networks, cutting edge web sites and web technology news via RSS daily.
Avinash Kaushik: Avinash Kaushik blog reports on understanding complex sets of data.
Search Engine Journal: Search Engine Journal “SEJ” helps companies improve their interactive marketing, and helps marketers to succeed in a challenging career. Launched in 2003, SEJ is unique in its community-based approach to search marketing. Virtually all content comes from the real experts: in-house and independent Internet marketers themselves.
The Wall Street Journal’s: The Wall Street Journal’s “Digits” blog covers the latest technology news and insights.
Monday, June 15, 2015
Digital marketing beginners guide
SEARCH ENGINE LAND: Search Engine Land is a must read hub for news and information about search engine marketing, optimization and how search engines such as Google, Yahoo, Microsoft Live.com and Ask.com work for searchers.
Direct Marketing News: Direct Marketing News is an industry leader in coverage of direct marketing, reporting on all channels of direct marketing including direct mail, search, email, multi-channel retail, media, list and internet marketing.
Ad Age: Ad Age is a leading global source of news, intelligence and conversation for marketing and media communities.
FIND MORE LINKS
Online Marketing and Entrepreneurship
Next topic which i will post a article's
- Blogging
- Podcasting
- Unique and Innovative ways to drive visitors to your site.
- Social media Marketing
- Search Engine Optimization (SEO)
- Conversion Rate Optimization
- Audience Research, Segmentation and Personalization
If any one has point to discuss please do let you comment on this blog.
Digital marketing
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DIGITAL MARKETING TRAINING PROGRAM
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This i would like to start sharing all my experience with this internet world.
Kindly share all your FAQ's here so that will discuss and make knowledge sharing platform.
By Laksha
This i would like to start sharing all my experience with this internet world.
Kindly share all your FAQ's here so that will discuss and make knowledge sharing platform.
By Laksha
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