Exam 3: Strategic Planning and Marketing

A complete analysis of the company's situation is known as a(n):

Which of the following is a market- oriented mission statement?

The company is generally advised to take some decisive action, such as divestment, concerning its _________and _________marks, lest it have insufficient revenue to maintain all its SBUs.

The alternative expansion strategies for a company using the product/market expansion grid are market penetration, market development, product development and diversification. Briefly outline each of the strategies and give examples of the companies using different strategies.

Arnotts Biscuits intends to increase the sales of its ginger nut biscuits in its current markets. At a tactical level, it plans to accomplish this goal by reducing prices, increasing promotional support and encouraging new uses for the biscuit by publishing free new recipe ideas to encourage customers to use ginger nut biscuits in innovative desserts. Arnotts is following the strategy of:

A measure of the rate at which a company or a business unit attracts new business is known as:

The strategic plan is the set of tactical marketing tools that the firm blends to produce the response it wants in the target market.

Positioning is about gaining optimal shelf space in a retail store.

In 2000, Virgin Airlines entered the Australian market positioning itself as a budget carrier in which it largely pursued the leisure travel market. However, in 2011, Virgin Australia, announced that it would reposition itself by offering superior service levels pitched at the more lucrative corporate market. The leisure travel market and the corporate market are BEST described as which of the following?

According to a recent study reported in your text, which of the following is one of the most frequently used management tools, being used by about 50 per cent of organisation?

Even when a business or product is profitable, if the organisation has no core competencies in managing that business or product, it may not be profitable in the long term.

A firm's mission statement should be meaningful, specific and be motivating.

A robust business portfolio should include a broad range of products or SBUs.

The rate at which a company or a business unit retains relationships with existing customers is known as:

In the BCG matrix, income from_________ can be used to help finance other SBUs or products such as the company's question marks and stars.

In the Boston Consulting Group (BCF) matrix, cash cows are defined as products or business units with low growth and high relative market share.

_________are low- growth, high share businesses or products. They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.

A company that sells across the country or internationally often uses a(n)_________ organisation. In this type of organisation, sales and marketing people are assigned to specific countries, regions and districts.

At which level of the corporation does strategic planning begin?

In the BCG matrix, low- growth, low- share businesses and products are known as_________ . These business or products may generate enough cash to maintain themselves but they generally don't promise to generate large volumes of cash.