Exam 2: Strategic Market Planning: Take the Big Picture

Biopure is a company that manufactures and markets oxygen therapeutics.Its products are Hemopure for human use and Oxyglobin for animal use.Both have been developed as alternatives to red blood cell transfusions.Which of the following would be part of Biopure's internal environment?

As a part of the ________ process,managers need to look carefully at why a company isn't meeting its objectives.

Which of the following best describes the components of the marketing mix?

The second step of the marketing planning process is to ________.

Assignment of responsibilities,time lines,budgets,and measurement and control processes are documented in a(n)________.

Areas of business within a firm that are different enough to have their own missions,business objectives,resources,managers,and competitors are referred to as ________.

Advertising,sales promotion,public relations,direct marketing,and personal selling are all part of the ________.

During past years,the Oreo cookie has undergone many changes.It is no longer just a cookie.Oreo cookies now appear in breakfast cereals,ice cream,pie crust,cake mix,frosting,brownies,and granola bars.These are all examples of which type of growth strategy?

The primary purpose of a firm's code of ethics is to help marketers understand the target market.

Explain how business planning helps managers in a firm.

Reach and frequency of advertising,timeliness and accuracy of competitive intelligence,and consumer word-of-mouth activity are all examples of ________.

Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt,hike,and bike ride.Its long-term plans include the development of lenses that,in addition to protecting users from UV rays,will also have effective water-sheeting action to reduce lens spotting.This new feature will be valuable to people who fish.In terms of a SWOT analysis,the company believes it can use the ________ of its reputation as a sunglasses manufacturer for a specialized market in combination with its current manufacturing facilities and labor force to enter this new market.

Argo is the world's leading brand of small vehicles that are designed to be driven on all types of terrain and in all types of weather.The vehicles can carry up to six passengers.The market for such vehicles has become stagnant due to the recent economic downturn.In terms of the BCG growth-market share matrix,Argo would be classified as a ________.

John H.Harland Company is best known for printing personal and business checks,but it also owns Scantron,a computerized testing and assessment company.Harland's purchase of Scantron is an example of the implementation of a ________ strategy.

________ is the formal process of monitoring progress toward meeting marketing objectives.

Compare and contrast strategic planning and operational planning.

Runnerz is a company that makes running shoes.The company has defined its mission as follows: "At Runnerz,we make great running shoes." By defining itself in terms of its product,Runnerz has created a mission statement that is too broad.

A sales manager at ABC Services Inc.was required to track important marketing metrics each quarter.Give two examples of the marketing metrics this sales manager might report.

________ is the third,or "nuts-and-bolts," level of planning.

Marketers communicate a product's value proposition to the target market by implementing a ________.