The railroad industry at the turn of the century continued to define its mission as building and running railroads rather than meeting customers' transportation needs. As a result of this product-focused mission statement, the industry has been accused of __________ .
Marketing myopia
Market mismanagement
Suboptimal target marketing
Product myopia
None of the above
Answer: Marketing myopia
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Foundations of Marketing
- Remington Arms continually monitors the legal-political environment for changes in legislation that may adversely impact the sales of its weapons. This type of analysis is usually part of the __________.
- The group of customers toward which a firm directs its marketing efforts is its __________ .
- Which of the following is not part of the controlling stage of the strategic marketing process?
- Proper supervising and staffing are among the key considerations of managers during the ____________ stage of the strategic marketing process.
- A product's "position":
- Firms that have been accused of marketing myopia generally have defined their missions from a ______________ perspective.
- Firms that define their missions from a strict 'product' perspective often miss many marketing opportunities as a result. This phenomenon is referred to as ___________.
- Which of the following is least associated with Key Success Factors (KSFs)?
- Innovative software traditionally defined its mission as 'developing innovative spread-sheet applications.' Consultants hired by Innovative Software argue that the firm is defining its mission too narrowly, from a 'product perspective.' To avoid falling into the trap of 'marketing myopia,' how would you recommend that Innovative Software redefine its mission?
- The product-market expansion grid is a useful way to view the range of potential market opportunities available to firms. The dimensions of the matrix are new vs. exiting markets and new vs. existing ________.
- Remington Arms is investigating its capacity to exploit new markets. Specfically, the firm is critically evaluating its available capital, technical and managerial expertise, and plant capacity. Remington evidently is conducting the ____________ component of SWOT analysis.
- If the owner of a children's day-care center were to answer the question, "what business are you in?" with the statement, "We nurture children and provide them with a homelike environment that keeps their separation anxieties to a minimum", it would be identifying its _______.
- The MOA is generally considered to be conducted as part of the:
- A firm is engaged in assessing the relative size of a market segment in terms of unit and dollar sales along with its potential market share in that segment. The firm is conducting the _____________ component of the SWOT analysis.
- When searching for new market opportunities, which area of product-market focus is least likely to take the firm beyond its current mission?
- The __________ component of the marketing plan identifies the intended target markets that will be served, the market positions that will be sought, and generally describe how these markets will be served and the desired positions achieved.
- The __________ is the first section of the marketing plan however it is typically the last section to be drafted.
- The firm's marketing objectives, its marketing strategies, and its associated implementation and control activities are referred to as ____________.
- Which of the following is least correct about the implementation stage of the strategic marketing process?
- Wendy's ran a series of commercials employing the tagline "where's the beef?" The implication was that Wendy's burgers were bigger than those of McDonalds and Burger King. The positioning strategy in these ads illustrates:
- Firms engaged in a MOA are least likely to pursue a __________________ opportunity if they wish to remain within the bounds of their firm's current mission.
- When the National Football League (NFL) expanded into various cities in Western Europe, Europeans could watch football just as it's played in the U.S. According to Ansoff's product-market matrix, the NFL was using a strategy of _______________.
- Shannon's Brewery targets its craft beers to more affluent millenial consumers living in upscale suburbes in the DFW area. Shannons positions its beers as fire-brewed Irish ales of superior quality using natural spring waters. This desired position has been crafted using a judicious combination of marketing communications, public relations efforts, and some very positive publicity. In terms of the marketing plan the above description illustrates Shannon's ____________ .
- As part of the industry analysis component of SWOT analysis, marketing managers try to identify those 'factors' that firms in the industry must possess to survive and remain competitive. These factors are called: