Exam 2: Strategic Planning in Contemporary Marketing

A shoe manufacturer has multiple suppliers for leather. Based on this information, which of the following statements is true?

Our Lady of the Lake Hospital has assembled a group of employees to engage in planning activities. If the group comprises top executives such as the Chief Executive Officer, Chief Financial Officer, and Chief Marketing Officer, they would likely create

You are excited about being promoted to general sales manager, a middle management job, but you feel a bit overwhelmed as you anticipate the demands of the new position. A colleague tries to help, pointing out that you will also be shedding some responsibilities. Which of the following will not be part of your new job?

An example of a threat to a firm discovered by a SWOT analysis might be:

A SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

Supervisory managers tend to focus exclusively on strategic planning.

Blockbuster Video went out of business in 2013, negatively impacted by streaming services such as Netflix, which demonstrates ________, one of Michael Porter's competitive forces.

Procter & Gamble and other consumer products companies have experienced decreased profitability due to its relationship with Walmart, the nation's largest retailer, which demonstrates the impact of supplier power as one of the competitive forces identified by Michael Porter.

Within your diversified processed-food firm, there are SBUs for fruits, vegetables, dairy products, and baked goods. Each SBU has its own: (Select all that apply)

Enterprise Holdings seeks to achieve a 95% customer satisfaction rate, which is one of its marketing objectives. One way the company can achieve high levels of customer satisfaction is through the vehicle selection and maintaining strong relationships with automobile manufacturers to ensure Enterprise has the vehicles in stock that customers desire to rent. If Enterprise were developing a written marketing plan, which section of the plan would contain the information related to maintaining strong relationships with automobile vendors to ensure they have the vehicles customers wish to rent?

Rick is the divisional manager for Kroger grocery store and oversees 20 stores in the Midwest region near Cincinnati, Ohio. Rick has scheduled several meetings with the store managers in his area to make decisions and develop plans. Which of the following would most likely be an outcome resulting from the meetings?

As the marketing director for a public health advocacy group, you recently obtained approval from the board to pursue a new set of strategic objectives. Among them: to achieve 80% community awareness of the group's name and purpose. Now you must turn to tactical planning. Which of the following tasks should you undertake? (Select all that apply)

According to the BCG matrix, cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

According to the BCG market share/market growth matrix, _____ typically require more cash than they generate.

There are many roles played in the planning process for a typical company. Depending on the organizational level, the planning focus and the effort devoted will be different. Which of the following statements is true about planning within an organization?

Jose is the social media manager for a children's museum and is making decisions about the best mix of social media tools to utilize in order to achieve the objective of increasing the number of family memberships by 10% during the year. Jose likes to use Twitter, Instagram, Facebook, and Pinterest to reach the museum's desired target market but he spends most of his time developing the appropriate content and determining the frequency of posts. Which term best describes Jose's activity related to determining the use of social media?

The smartphone market is growing rapidly as more consumers adopt the technology and wireless providers offer economical packages for consumers. Google's Pixel phone has a relatively low level of market share in the industry, which is dominated by brands such as Apple, Samsung, and LG. For Google, the Pixel phone is likely classified as a _____ according to the Boston Consulting Group.

Marketing plans once implemented should not be changed even if the actual performance does not meet the desired results.

Which of the following would qualify as an example of a firm's weakness?

Matching an internal strength with an external opportunity produces a situation known as: