Exam 2: Strategic Planning in Contemporary Marketing

Jamal is the marketing director of a third party logistics firm operating in the United States. Jamal and his team recently engaged in ________ to determine the company's primary objectives over the next three years and identified specific actions that the company would initiate to achieve the objectives.

An event management company decided to use radio advertising in order to promote an upcoming music festival. The executives of the company suggested various activities that could be used for the radio campaign. These activities are a part of the company's _____.

The BCG market share/market growth matrix classifies products with a low relative share of a high-growth market as _____.

The disadvantage of core competencies is that they can be easily duplicated by competitors.

The first step of the marketing planning process involves:

Decisions regarding product lines, pricing, selection of appropriate distribution channels, and promotional campaigns are____.

The strategic business unit (SBU) concept is best identified as a:

What is the marketing planning process?

A company's plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.

Cassidy is a divisional marketing manager with Kimberly Clarke and responsible for decisions related to Huggies diapers. She recently had a meeting to plan licensing agreements where the company could screen various licensed characters on the Huggies diapers and use their images on the packaging for promotional purposes. Cassidy is engaging in operational planning.

According to the BCG matrix, stars require considerable inflows of cash to finance further growth.

A two-day offsite retreat was held for a team of executives of a major hospital including the hospital's CEO, President, and Vice-Presidents. Over the course of the two-days, the executives engaged in brainstorming sessions and worked together to articulate the direction the hospital should take and specific objectives that should be achieved over the next 5 years. The team focused considerable attention to objectives related to the Affordable Care Act and rising numbers of patients eligible for Medicare. The executives were engaged in _______.

The performance framework developed by the Boston Consulting Group (BCG) plots:

Many consumers only have a mobile phone and no longer maintain a landline phone at home. Due to the increased adoption of mobile phones, companies such as Samsung offer a wide variety of phones from basic models to advanced, smartphones. The Samsung Convoy is a basic phone that allows consumers to send and receive calls and text messages as well as a 5 megapixel camera. Samsung's Galaxy smartphone model is one of the most popular phones with high relative market share while the Convoy has low market share. According to the Boston Consulting Group, the Convoy would be classified as a(n) _____ and the Galaxy as a(n) _______.

According to the BCG market share/market growth matrix, the revenues earned from cash cows should be used to finance the growth of:

YOU Inc., a radio cassette manufacturer, sold its business due to poor market shares. According to the BCG Matrix, the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

In a(n) _____, firms evaluate their products and divisions to determine the strongest and weakest.

Tactical planning involves specifying programs to meet goals related to the manager's area of responsibility.

You are the head of market strategies for a large media company, and you are responsible for leading the enterprise through its annual marketing planning process. Which one of the following statements is true about this process?​

Tiffany has worked in the restaurant industry since graduating from cooking school and has decided to open her own restaurant. Like most restaurants, she will have a variety of beverages to offer customers but was surprised by the proposals from Pepsi and Coca-Cola, which were quite high. Due to the high costs associated with offering a brand name soda, Tiffany's profits on carbonated beverages will be reduced. Which of Porter's competitive forces does this exemplify?