Exam 2: Strategic Planning in Contemporary Marketing

The position of an SBU along the horizontal axis indicates the annual growth rate of the market.

Which of the following is NOT one of Porter's five Forces related to market competition?

A marketing plan is flexible and allows managers to re-evaluate and respond to changing factors in the environment.

Organizational objectives should include specific intentions, such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

Marketers implement marketing strategies and monitor performance by tracking key performance indicators to ensure that objectives are being achieved.

Michelle is the owner of Cardio Kick, a fitness studio and is performing a SWOT analysis as part of a strategic planning exercise. She knows that consumers aged 18-30 are especially interested in staying fit, eating clean, and looking attractive and is wondering how she should classify this trend. How would you advise Michelle on this item?

Core competencies are capabilities that customers value and competitors:

Organizational objectives may specify time frames stating "Our organization aims to generate a 15 percent profit over the next 24 months."

Taylor is an account executive with Enterprise Holdings and works the counter at airport. She always strives to be upbeat, professional, polished, friendly, and fast since the company routinely asks customers about their experience when renting a vehicle. Taylor believes her customer service skills are a key component to achieving high customer satisfaction scores. Taylor's activities would be described as ________ that could become part of the company's marketing plan.

Strategic business units are key business units within small companies that offer only a few items to its customers.