Exam 2: Strategic Planning in Contemporary Marketing

Michelle, owner of the fitness studio, Cardio Kick has limited financial capital and must rely on word-of-mouth and social media such as Facebook to promote her business. Using a SWOT framework, how would you classify Michelle's limited financial capital?

An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which of the following statements is true?

Consumers are increasingly showing a preference for fulfilling their product needs via smartphone applications and online shopping. The relative ease of creating a web-based storefront is posing a significant threat to brick-and-mortar retailers and driving many established retailers to close their doors. According to Michael Porter, this is an example of

Single serve beverage makers using a k-pod system are very popular and have had high levels of growth in the last several years. Mr. Coffee offers a k-cup brewing system as well as its traditional 8-10 cup drip coffee maker but growth in the market for carafe-style coffee makers has been declining. Mr. Coffee has a strong market share for its carafe-style makers but a low relative market share for its individual k-pod systems. Therefore, the carafe-style brewing system would be described as a ______ and the individual brewing system would be classified as a ______ according to the Boston Consulting Group.

Business strategist Michael E. Porter identified five competitive forces that influence _____ in a model called Porter's Five Forces.

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

The planning process involves anticipating conditions and determining how best to attain organizational objectives.

Budweiser and its stable of beer brands including Michelob, Bud Lite and Budweiser Platinum have faced significant inroads in sales by craft breweries such as Boston Beer Company and Sierra Nevada Brewing Company. The craft breweries represent a(n) ______ to Budweiser.

A statement such as "to hit the 300 employee mark by the end of the year" is typically a part of the SWOT analysis.

Describe the market share/market growth matrix.

Porter's Five Forces are potential new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, and rivalry among competitors.

Define SWOT analysis and explain its importance.

Discuss how a firm's stated objectives relate to planning activities.

Describe the strategic business unit concept.

Competitive rivalry among competitors who are trying to differentiate themselves from the crowd may lead to expensive advertising campaigns.

The threat of new competitors occurs when a product or service can be replaced with goods and services from a competing firm or industry.

In the planning hierarchy, plans dealing with organization-wide objectives, long-term plans, and the total budget would be classified as _____ plans.

Strategic business units (SBUs) of a diversified firm have common managers, resources, objectives, and competitors.

Enterprise Holdings typically asks customers to respond to a customer satisfaction survey to identify their level of satisfaction with their vehicle, rental experience, as well as likelihood to use Enterprise again in the future for a rental vehicle. The company strives to achieve a 95% customer satisfaction rating when customers respond on a scale from "1" which indicates not at all satisfied to "100" which indicates extremely satisfied regarding their satisfaction with the rental experience. This is an example of a marketing strategy.

Some consumers are concerned about fuel economy and reducing their carbon footprint and may prefer a hybrid or electric vehicle. The market for hybrid cars is growing and Toyota has a strong position in the market due to the high level of sales of their Prius model. If Toyota was using the Boston Consulting Group growth/share matrix to map the position of the Prius, how would it be classified?