Exam 3: Strategic Market Planning

Alaska Airlines decided to fly a model of the Boeing 737 with overhead bins with significantly increased luggage space. This is an example of a ________ for Alaska Airlines.

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

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

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) ________.

Periodically, the Walt Disney Company recycles its oldest animated films, such as Snow White, back into movie theaters to delight a new generation of consumers. To what classification of the BCG growth-market share matrix would these old movies belong? Explain.

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

John H. Harland Company is a large company with 5,200 employees and almost $800 million in annual sales. The company is best known for printing personal and business checks. Harland Analytical Services is a technology company that produces software that enables banks to gauge the behavior of their customers by tracking their spending habits. In addition, Harland owns Scantron, a computerized testing and assessment company. The ________ for John H. Harland Company includes its check-printing business, its financial software business, and its testing and assessment business.

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.

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. Serengeti has determined that fishing is one of the fastest growing sports in the United States. In terms of a SWOT analysis, Serengeti has recognized a market ________.

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.

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. In order to increase market share, managers would be most likely to decide which of the following?

In firms with multiple SBUs, the first step in strategic planning is for top management to ________.

Identify an important difference between strategic planning and market planning.

A situation analysis is also known as a(n) ________.

A media company has a high market share in the CD market. The CD market has low growth potential. This business fits into the ________ category of the BCG growth-market share matrix.

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 is no longer growing due to the recent economic downturn. In terms of the BCG growth-market share matrix, Argo would be classified as a ________.

A manager's decision to run a quarter-page ad in the business section of the local newspaper to promote goodwill toward his company is part of an operational plan.

Define strategic planning. Discuss the steps involved.

In which step of developing a marketing plan would managers examine external elements that specifically affect the marketing plan?

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.