Exam 2: Strategic Marketing Planning

The marketing planning process typically requires the coordination of __________ at the top of the corporate hierarchy with more __________ at the bottom.

The most pressing concern for the success of a marketing plan is identifying needed resources.

Which of the following is part of a company's internal market? ​

Why might an overly narrow mission statement be problematic? ​

When approving the marketing plan, which of the following questions will a top manager ask?

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20^th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

In today's business environment, firms that truly focus on customers instill a corporate culture that places customers and other stakeholders at the top of the organizational hierarchy. When this occurs, the firm shifts its focus from transactions to __________, and from __________ to collaboration.

In developing a marketing plan, the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect, the goals and objectives section is tied closely to the __________ section of the marketing plan.

Which of the following IS NOT a purpose of a marketing plan?

In a marketing plan, the executive summary should be a complete but concise overview of the entire marketing plan because:

A marketer for Whole Foods compares sales during a certain time period to performance standards in the marketing plan. This process is known as marketing implementation.

Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation, nothing gets accomplished and customers do not receive desired benefits."

A vision statement answers which of the following statements?

Motorola continuously establishes performance standards and assesses actual performance by comparing it with these standards. Afterwards, Motorola often takes corrective action to reduce any discrepancies. This process is most likely outlined in the __________ section of Motorola's marketing plan.

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

Profit would be an example of a(n) __________.

With respect to developing a marketing plan, what does it mean for a marketing plan outline to be consistent?

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following IS NOT one of these perspectives?