Exam 3: Strategic Planning and Marketing

According to the text, Scott Armstrong recommends that instead of performing a SWOT analysis, companies should follow a formal written process to achieve which of the following?

A group of customers who respond in a similar way to a given set of marketing strategies and tactics is known as:

A measure of the company's business expressed as a proportion of the total business in a given market is known as:

The process of identifying possible customer value differences that provide competitive advantages on which the company can build its product positioning strategy is known as:

Marketing control refers to the process of evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained.

The set of tactical and marketing tools that the firm blends to produce a desired response from the target market is known as:

In the Boston Consulting Group Matrix, areas of the circles are proportional to the SBU's:

The process of developing and maintaining a strategic fit between the organisation's goals and capabilities and its changing marketing opportunities is known as:

The Nutrition Corporation, a major Australian manufacturer of food products, believes that it can sell its current product in Japan. The strategy The Nutrition Corporation is considering is referred to as:

A marketing strategy consists of specific strategies for target markets, positioning, the marketing mix but does not normally include the marketing expenditure levels.

The New- Process Cheese Company has developed a cheese product that features almost indefinite shelf life and can be easily dispensed from a unique aerosol container. Which of the following growth strategies is the firm employing?

Whereas marketing planning addresses the what and why of marketing activities, implementation addresses the who, where, when and how.

The four possible strategies that can be pursued for each SBU are build, hold,_________, and_________.

In a SWOT analysis, which of the following would be considered a strength?

The balanced scorecard system is based on the idea that an organisation needs to measure its performance on both financial and non- financial measures.

Internal capabilities that may help the company achieve its objectives are known as:

Managing the marketing process requires four marketing management functions, namely analysis, planning, _________and_________ .

Questions such as, "Should we introduce a larger sized container?" or "Should we expand into Asia?" help companies to define their corporate mission.

According to Hamel and Prahalad, as cited in the text, the main purpose of strategic planning is to help companies understand how they can "compete for the future."

Pharmaceutical company, Bayer International, is probably most well known for its drugs and marketed under trade names such as Aspro, Alka- Seltzer and Canesten. In fact, Bayer is a very diverse company with three main corporate divisions: (i) Healthcare which markets its range of pharmaceuticals; (ii) CropScience which manufactures and markets fungicides, pesticides and herbicides for use in horticulture and gardening and (iii) MaterialsScience which manufactures and markets a range of polymers, polyurethanes, adhesives and plastics used in manufacturing and heavy industry. Bayer's three divisions are known as: