Exam 3: Strategic Market Planning

Columbia Sportswear makes nylon activewear.Its marketing manager set a goal to increase sales 12 percent over the next three years through the introduction of a new line of comfortable,lightweight clothing for people who fish.The marketing manager is engaged in ________.

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

SBU stands for ________.

The market planning process should be completed before the strategic planning process begins.

The CEO,president,and top executive officers are responsible for ________ in the strategic plan.

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.

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

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

Briefly describe the purpose of a portfolio analysis.

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

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 ________.

An SBU fits into the ________ category of the BCG model when sales have been steady and the firm has a large market share it can sustain with minimal funding.

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.

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

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.

Edy's is a high quality brand of ice cream.Edy's introduced Godiva ice cream and Starbucks ice cream to tempt ice cream lovers to eat even more ice cream.Edy's used a ________ strategy.

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?

Planning means that an organization develops objectives while in the process of taking action.

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 ________.

After marketing strategies are developed,the next step in market planning is ________.