Exam 3: Strategic Market Planning

Edy's is a brand of high quality 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.

Concrete measures of various aspects of marketing performance are called ________.

Columbia Sportswear has introduced a new line of comfortable, lightweight clothing for people who fish. An example of ________ is the decision to run a full-page ad in Field & Stream magazine in May to get potential customers to ask their sporting goods stores to carry the new 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 will most likely use a ________ strategy.

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

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?

Within a larger corporation, each SBU ________.

Strategic planning is also referred to as functional planning.

The ________ outlines how, when, and where the firm will make the product available to targeted customers.

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

The four Ps of marketing are people, placement, promotion, and pricing.

Explain the concept of agile marketing and why it is increasingly important in today's marketing environment.

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.

Opportunities and threats come from a company's internal environment.

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

Strategic planning for a large firm such as Disney with several SBUs probably occurs ________.

Which of the following is true about functional planning?

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

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

Movie production companies sometimes re-release classic films to theaters to give people who enjoyed them the first time a chance to see the movies again. This is an example of a market penetration strategy.