Exam 3: Strategic Market Planning

A sales manager sets an objective for her team to increase the units sold by five percent for the quarter. This objective is most likely part of a detailed ________ plan that is created annually, semiannually, or quarterly.

Market planning is followed by the ________, which details how the plan will be carried out, outlining the day-to-day execution.

A business plan ________.

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.

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

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

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.

When Amazon acquired Whole Foods, the brick-and-mortar supermarket, the company was pursuing a ________ strategy.

How is business planning different in a large firm in comparison to business planning in a small company?

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.

Campbell's Soup advertised new uses for soup in lunches and dinners to encourage customers to eat more soup. The company also conducted promotions aimed at attracting users of competing soup brands. What growth strategy was Campbell's implementing? Explain.

Scrum is most closely related to ________.

Explain how business planning helps managers in a firm.

The first step of the market planning process involves closely examining the ________.

The growth-market share matrix developed by the Boston Consulting Group (BCG) is a type of ________.

A sales manager at ABC Services Inc. was required to track important marketing metrics each quarter. Give two examples of the marketing metrics this sales manager might report.