Exam 3: Strategic Planning and Marketing

In the BCG approach, __________ are high- share, high- growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they are likely to turn into_________ .

While each of the divisions that comprise General Motors is integral to the overall company's operations, each division has a separate mission and develops its objectives and strategies independently. Each division could be described as a:

Business portfolio planning involves two steps: _________and_________ .

The process of checking ongoing performance against the annual plans and taking corrective action as required to ensure that the company achieves its sales and profit goals is known as:

An organisation that uses both financial and non- financial performance measures to evaluate its performance is using a:

The section of the marketing plan that outlines the broad marketing logic by which the business unit hopes to create customer value and relationships and the specifics of target markets, positioning and marketing expenditure levels is termed the:

The practice of offering modified or new products to current markets is BEST described as which of the following?

The Boston Consulting Group portfolio technique evaluates SBUs on two dimensions, namely _________and_________ .

Briefly outline the portfolio planning method developed by (1) Boston Consulting Group (BCG). What are the advantages and disadvantages of portfolio methods?

Service marketers have argued that the traditional four Ps of the marketing mix should be expanded to include three new Ps. Which of the following is NOT one of the new Ps?

Of the following product/market expansion strategies, the strategy whereby the company seeks greater sales to present customers without changing the product in any way is:

After management has identified the key businesses making up its company, what is the next step?

The collection of businesses and products that make up a company is known as its:

Which of the following is NOT a valid criticism of the marketing mix?

The section of a marketing plan that spells out how marketing strategies are to be achieved and answers questions such as: What will be done? When will it be done? Who will do it? How much will it cost? is termed the:

The primary focus of strategic planning is to:

One valid criticism of the four Ps concept is that services are not considered.

The SBUs or products that present the most difficult management decisions are:

After a company has decided which market segments to enter, the next step is to decide how it will differentiate its market offerings for each targeted segment and what positions it wants to occupy in those segments.

A company that cuts the prices of its products, increases its advertising and promotional support and expands its distribution is most likely to be engaged in market penetration.