Exam 3: Strategic Market Planning

Which of the following is true about functional planning?

Identify an important difference between strategic planning and market planning.

A(n)________ is a document that describes the marketing environment,outlines the marketing objectives and strategies,and identifies how the company will implement the strategies.

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.

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.

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.

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

In the ________ step of the market planning process,decisions are made concerning what markets to target and what marketing mix strategies to use.

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

Why might a company choose a diversification strategy?

A detailed quarterly plan that states how many units of product each salesperson on the team needs to sell per month is an example of a(n)________.

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

Because Cie de Saint-Gobain of France is Europe's leading distributor of building materials in the high-growth building industry,it is an example of a cash cow.

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

When General Mills urged consumers to lower their cholesterol by eating Cheerios twice a day over the course of six weeks,the aim was to increase usage among current customers.General Mills used a ________ strategy.

Within a larger corporation,each SBU ________.

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 ________.

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

A chief marketing officer is more likely to be in charge of strategic planning than functional planning.

The ________ for Mothers Against Drunk Driving (MADD)is "to stop drunk driving,support the victims of this violent crime,and prevent underage drinking."