Exam 2: Strategic Market Planning: Take the Big Picture

Functional planning at the corporate level today requires the development of a very broad-based mission statement.

The market for two-way radios is disappearing.A company with a small share of the two-way radio market would be considered a ________ in terms of the BCG growth-market share matrix.

Each year,Honeywell asks every department manager to rate his or her department's strengths and weaknesses as well as those of the other departments with which the department interacts.Then each department manager is asked what he or she sees as the greatest threats and opportunities for the company.Honeywell is asking its department managers to engage in a(n)________.

The ________ provides managers with four different fundamental marketing strategies: market penetration,market development,product development,and diversification.

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

What type of strategy should a company use to manage its cash cows?

Nintendo introduced the Wii home gaming system to older consumers in retirement homes for light exercise.Explain the kind of growth strategy Nintendo used.

When the makers of a ballpoint pen state they are in the communication equipment business,they are defining their mission too ________.

The vice president of marketing of a software development company periodically develops a(n)________,which includes marketing research data on the target market,marketing objectives such as "to increase new customers by 20 percent," and a list of who will be responsible for implementation.

When analyzing its portfolio of businesses with the Boston Consulting Group model,Disney views its movie brand as a star.What does this mean?

The ROI of a campaign,the value of a prospect,and the response rates in direct marketing are all examples of ________.

A donut shop chain opened its first store outside of North America with the opening of a shop in Australia.The donut company used a ________ strategy.

Briefly describe the purpose and components of an action plan.

Product planners for JetBlue Airways decided to include in-seat video games and television during flights.This is an example of a ________ for JetBlue.

________ are rules of conduct that guide how most people in a culture judge what is right and what is wrong.

Which of the following is a tool that marketers often use to portray an action plan's time line?

You are a sales manager and you are responsible for tracking a wide range of metrics related to your firm.Explain in what part of the marketing planning process these metrics would be determined and why they are important.

To ensure attainability,marketers increasingly try to state objectives in general terms.

Employee morale,promotion strategies,and competitors' reactions are all aspects of a company's internal environment.

Monsanto operates in many businesses,including pharmaceuticals and food products.The company defines its ________ as creating "abundant food and a healthy environment."