Why is it important for an MPR professional to clearly understand a firm's positioning and resources during the early stages of developing an MPR plan? Explain your answer in detail
What will be an ideal response?
Positioning, combined with resources—or lack thereof—affect the implementation of any MPR plan, so marketers must thoroughly understand and evaluate them before setting goals or formulating strategies or tactics. Well-marketed companies, brands, and products are consciously positioned in the marketplace in such a way that they have a sustainable advantage over competitors on some level. The firm's mission typically helps produce and support this position, so marketers endeavoring to create a successful MPR plan need to understand both the mission and the position. The marketer must also realize that any position has both benefits and challenges. (For example, a position as a low-cost leader can drive demand among price-conscious consumers, but it may also signal that the products or services are cheap or inferior to others in the market.) Along with positioning, marketers need to consider the resources they have available to them to support their efforts. Resources can be tangible, like money, a large retail presence in the market, or a large existing customer base. They can also be less tangible, like a strong brand image or a wealth of expertise within the firm.
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The person who develops and produces the actual advertisement is the:
A) account executive B) creative C) account planner D) media planner
When reconciling its accounts, Boris Company found the accounts receivable general ledger account had a balance of $35,000, and the accounts receivable subsidiary ledger account balances totaled $33,000. The most likely reason for this difference was
A) a sale to a customer was recorded twice in the subsidiary ledger. B) cash received from a customer was posted twice to the subsidiary ledger. C) a sale to a customer was not posted to the general ledger. D) cash received from a customer was recorded twice in the general ledger.
Achievement needs for employees are defined as ______.
a. being recognized by managers, peers, or customers for their performance b. having challenging work assignments c. a job that lets them exercise their talents d. the need for advancement opportunities by employees
Market skimming makes sense when a product's quality and image support its higher price, and enough buyers want the product at that price
Indicate whether the statement is true or false