Exam 2: Strategic Planning in Contemporary Marketing

A SWOT analysis is designed to reveal, among other things, a firm's core competencies, which reflect its:

A certain social networking corporation has the highest number of users in the social networking industry. This is an example of the firm's:

If a company has a business unit classified as a "Question Mark" due to its low relative market share in a slow growth market, the company should consider withdrawal or divestiture unless the market share position can be improved.

Jamie is the regional sales manager for Sherwin Williams paint company and oversees a team of 40 outside sales representatives. She meets with her sales managers on a monthly basis to review budgets and track the team's progress in meeting its sales quotas in order to reach company objectives. Jamie requires that each sales manager collaborate with his or her individual sales representatives to develop weekly call schedules and account plans. What type of planning is Jamie and her sales managers engaged in?

The chief executive officer (CEO) and chief marketing officer (CMO) spend a greater proportion of their time on operational planning than do managers at all other organizational levels.

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 district offering students the ability to compete in a number of different sports would be categorized as a(n):

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. This is a direct result of the _____ planning process at ADA Inc.

The basic objectives or goals of an organization are derived from its:

Michelle is the owner of Cardio Kick, a fitness studio that uses boxing training and plyometrics to help members stay in shape or get in shape. Michelle is very creative and changes the workout everyday so that a different body part is emphasized during the workout. This helps balance training, improve results for members, and decrease boredom among members. If Michelle were performing a SWOT analysis, how would you classify her ability to be creative and change daily workouts?

Recently, top-level marketing managers of ToysRUs made the decision to close several stores due to lower than expected sales revenue. Now, they will be able to redirect funds to support an increased web presence and enhance their online marketing efforts. This decision demonstrates that marketing plans should be flexible and allow managers to make changes if objectives are not being met.

​With respect to the BCG matrix, which one of the following generates considerable income, but requires sizeable investments to underwrite further growth in the future?

According to the BCG matrix, dog products can be sold to other firms, where they are a better fit.

The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as:

Michelle is the owner of a fitness studio called Cardio Kick and has been a personal trainer and certified trainer for 10 years. Her certification and experience in personal training would be classified as a(n) _____ when performing a SWOT analysis.

Compared to other organization personnel, more time is devoted to long-range strategic planning by the:

A company typically modifies its strategy when:

The store manager of a Target store location in Evansville, Indiana has assembled her department managers for an off-site one day planning meeting. Which of the following would be an example of the type of decisions the department managers might make?

Kraft Mac & Cheese first hit the shelves in 1937 and remains a favorite product for families. The product has undergone changes in formulation as well as packaging over the years and Kraft recently reformulated the product so it does not contain any artificial ingredients. Sales of Kraft Mac & Cheese in the familiar blue box continue to be strong and help Kraft fund other products since it generates such a strong cash flow. Kraft continues to invest in its Mac & Cheese brand through both research and development as well as promotional activities. It's likely that Kraft views Mac & Cheese as a ______ according the BCG matrix.

In terms of the BCG Matrix, which of the following SBUs are characterized by earning only low market shares in low-growth markets?

Companies such as Ford Motor Company often grow their business by seeking new markets. Which of the following would most likely be responsible for making the decision regarding Ford Motor Company establishing a manufacturing facility in India?