Exam 2: Strategic Market Planning: Take the Big Picture

A ________ is a firm's set of written standards of behavior to which everyone in the organization must subscribe and which establish standards for how the organization interacts with its stakeholders.

Teddy Grahams are small graham cookies shaped like teddy bears.Nabisco,which makes Teddy Grahams,created Teddy Graham Bearwich cookies (two Teddy Grahams stuck together with a cream filling)to implement its ________ strategy.Nabisco believed its Teddy Grahams customers would buy the new product as well.

Campbell's Soup advertised new uses for soup in lunches and dinners to encourage customers to eat more soup.The company also conducted promotions aimed at attracting users of competing soup brands.What growth strategy was Campbell's implementing? Explain.

Which of the following quantifies how an investment in marketing impacts the firm's success,financially and otherwise?

A sales manager sets an objective for her team to increase the units sold by 5% for the quarter.This objective is most likely part of a detailed ________ plan that is created annually,semiannually,or quarterly.

Diversification strategies emphasize both new products and new markets.

________ decisions identify how marketing will accomplish its objectives in the target markets by using product,price,promotion,and place.

A firm's internal business environment does NOT include ________.

Action plans are often referred to as ________.

Why is it important for all business planning to be integrated?

Define strategic planning.Discuss the steps involved.

Columbia Sportswear has introduced a new line of comfortable,lightweight clothing for people who fish.An example of ________ is the decision to run a full-page ad in Field & Stream magazine in May to get potential customers to ask their sporting goods stores to carry the new products.

The growth-market share matrix developed by the Boston Consulting Group (BCG)is a type of ________.

A(n)________ is a tool management uses to assess the potential of a firm's business portfolio.It helps management decide how to allocate resources among the firm's current SBUs.

Analysis of the external environment of an organization identifies the organization's ________.

The product is the most fundamental part of the marketing mix.

________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth.

Marketing planning is followed by the ________,which details how the plan will be carried out,outlining the day-to-day execution.

According to the BCG growth-market share matrix,________ are strategic business units with products that have low market shares in fast-growth markets.

________ strategies emphasize both new products and new markets to achieve growth.