Exam 2: Strategic Planning in Contemporary Marketing

Matching an external opportunity with an internal weakness produces a situation known as leverage.

If an automobile manufacturer was planning to introduce a sports car powered by a hydrogen-oxygen fuel cell when the price of gasoline in the United States reached $4 per gallon, this would best be described as a direct result of its _____ plan.

The quadrant of the BCG market share/market growth matrix that represents both a high market share and a high rate of market growth represents the:

Which of the following conditions would lead a company's marketers to find a new market, change prices, or compete in other ways to maintain an advantage?

Which of the following is a dimension of Porter's Five Forces model?

When making tactical plans, managers don't need to be rushed and can take their time to make decisions.

One of General Electric's business units produces a variety of light bulbs and generates healthy revenue. The revenues of this business unit are used to finance the growth of other business units with higher growth potentials. How would this unit be classified on the BCG market share/market growth matrix?

Which of the following statements is true of tactical planning?

Employees of Popsie Inc., a small grocery store chain, are working on its tactical plans. The personnel most involved in this level of its planning process would be its:

One distinction or difference between strategic planning and marketing planning is

Describe the aspects of strategic and tactical planning.

An example of a firm's strength discovered by a SWOT analysis might be:

TaB is a cola product marketed by Coca Cola company and has a loyal following due to its low levels of sodium and no caffeine. However, the TaB product has low market share and low growth rate. TaB is a ______ according the BCG matrix.

According to the BCG matrix, if a question mark cannot become a star, the firm should pull out of the market and target other markets with greater potential.

Tactical plans typically determine an organization's primary strategic objectives and exclude short-term actions from their purview.

Employees at middle-management levels engage themselves in business unit budgets and divisional policies and procedures.

The number of suppliers available to a manufacturer or retailer affects the bargaining power of buyers.

Craft and micro-breweries have sparked consumer interest in a wide variety of flavor profiles and interest in supporting small, locally owned businesses. In addition, these companies have created pressure on established brands such as Budweiser and Miller that have increased promotional activities and reduced prices as a strategy to retain customers. Craft breweries are an example of _________, one of Michael Porter's five competitive forces.

The planning process begins at the corporate level with the first step being the development of strategic objectives.

Caleb is the superintendent of a small school district in a rural area of Iowa with a population of 2,500 people. The school district participates in a wide variety of sports for girls and boys including softball, baseball, basketball, volleyball, track, wrestling, and cross country. Students may also be a member of over 12 clubs and organizations sponsored by the school. The school typically rates highly on state-wide tests and approximately 80% of high school graduates attend college. However, Caleb has difficulty in recruiting faculty to teach foreign language, physics, calculus, and computer science classes. It's difficult to recruit these teachers because they are in high demand and are often attracted to larger school districts that can provide higher salaries. Caleb knows the importance of STEM (science, technology, engineering, and math) to the United States and is concerned that the district may fall behind in its ability to prepare students for their future. In addition, Caleb hopes to increase the number of graduates who attend college since college degrees enable students to pursue careers with higher salaries and benefits. Assume that you are helping Caleb conduct a SWOT analysis. The statement related to the importance of STEM education in the United States would be categorized as a(n):