Exam 2: Strategic Market Planning: Take the Big Picture

________ refers to a company's estimate of the number of consumers who are willing and able to pay for a product.

An SBU fits into the ________ category of the BCG model when sales have been steady and the firm has a large market share.

Operational plans focus on the long-term execution of the marketing plan performed by top-level management.

The marketing plan is a type of ________.

Strategic business units (SBUs)are individual units representing different areas of business within a firm that have their own missions,business objectives,resources,managers,and competitors.

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

In the ________ stage of marketing planning,marketers must determine how they want consumers to think of their product in comparison to competing products.

Fence Patrol has developed an entirely new mounting system for chain link fences.Although they are a local company,through the acquisition of a distributor they now have the ability to market their products nationwide.Fence Patrol is most likely to be following a ________ strategy.

Why might a company choose a diversification strategy?

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market.In order to increase market share,managers would be most likely to decide which of the following?

Hershey introduced edible Valentine cards when it launched Hugs & Kisses Friendship Exchange and packaged one white chocolate and one brown chocolate Kiss with write-on "To" and "From" areas.This is an example of a market development strategy.

Jay Minkoff at First Flavor may use the Boston Consulting Group (BCG)matrix to help him in making decisions for his firm.What does he need to understand about the purpose of the matrix and the four categories of the BCG growth-market share matrix ?

Orkin Pest Control Service knows homeowners skimp on maintenance such as pest control during recessions.It also knows that the more consumers know about bugs,the more likely they are to buy the company's services.So Orkin teamed with the Smithsonian Institution on the Insect Safari,a traveling exhibit designed to teach people about the critters.The Safari truck visited 108 cities during one year,leaving a wake of creeped-out insectophobes reaching for the phone numbers of the local Orkin franchise.Business increased in each city the Safari truck visited.Decisions on which cities to visit and what kinds of promotion to use in each city visited are both examples of ________ plans.

SBU stands for ________.

SWOT stands for strengths,willingness,opportunities,and threats.

Why is it important to consider marketing as an investment rather than as an expense?

Analysis of a firm's internal environment identifies the firm's ________.

Strategic planning is also referred to as functional planning.

Making adjustments to the marketing plan is part of ________.

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets.Each business is called a ________.