Exam 3: Strategic Planning and Marketing

Most companies understand that they cannot serve all segments of the market. Thus, each company must divide up the total market, choose the most attractive segments, and design strategies for profitably serving those chosen segments. This process involves_________ ,_________ , differentiation and positioning.

Which of the following is NOT one of the characteristics of a mission statement?

John Stevens has been assigned to a team charged with the development of a clear company mission, supporting objectives, a sound business portfolio, and coordinated functional strategies. John is involved in:

Relative market share, plotted on the horizontal axis of the Boston Consulting Group growth- share matrix serves as a measure of:

Marketing control involves a series of steps or processes. Which of the following is NOT one of the steps involved in marketing control?

Which of the following does NOT accurately reflect a problem with matrix approaches such as the BCG matrix approach?

The place a product occupies in the consumer's mind, relative to competitors' products, is known as:

Marketing implementation is the process that turns marketing_________into marketing_________ to accomplish strategic marketing objectives.

When dealing with a __________ , managers must decide whether to invest in it in an attempt to build it into a star or cash cow or whether to phase it out.

In 1961, John F. Kennedy, the then President of the United States, famously said, "This nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the Earth." At the time when Kennedy made his speech, none of the technologies required to propel a spacecraft across the vast distances involved had yet been developed. Yet, Kennedy's speech inspired NASA's Apollo space programme with the first successful moon landing in 1969. Kennedy's challenge to land a man safely on the moon is a great example of:

In SWOT analysis, strengths and weaknesses refer to a firm's internal environment, while opportunities and threats refer to the external environment.

Tiger Airlines' customers are willing to sacrifice some level of service in order to obtain the lowest possible fare. This type of customer makes up one:

Describe the strategic planning process. In your answer identify the four steps of strategic planning.

The product/market expansion grid is also referred to as:

Which of the following would NOT be considered to be an example of market development?

Mission statements should be realistic and general in nature.

Companies that sell one product line to many different types of markets and customers who have different needs and preferences, a _________management organisation might be best.

The type of planning that identifies the organisation's long-term purpose, sets goals and objectives and identifies the major marketing strategies used to attain them is known as:

_________can be a company division, a product line within a division, or sometimes a single product or brand.

A company that seeks to make more sales to existing customers without changing its products in any way is engaging in market penetration.