Exam 2: Strategic Planning in Contemporary Marketing

The Chapters-Indigo website, which sells books, CDs, and DVDs online, is an example of a retailer responding to distribution opportunities afforded by new technologies.

Define marketing strategy.

Relationship marketers frequently maintain databases to track customer preferences.

The second step in the planning process is corporate development of the organization's objectives.

Marketing planning establishes the basis for a firms' overall strategic plan.

Describe the market share/market growth matrix.

FreshFarm Market, a small grocery store chain, is working on its tactical plans. Which personnel would be most involved in this operational planning process?

Match each item to the statement or sentence listed below. a.planning b.marketing planning c.strategic planning d.tactical planning e.mission f.first mover strategy g.SWOT analysis h.strategic window i.marketing mix j.product strategy k.strategic business units (SBUs) l.Porter's Five Forces m.marketing strategy n.dogs o.stars p.annual growth rate -In the BCG matrix, the position of an SBU along the vertical axis indicates the _____ of the market.

Non-smoking rooms in a hotel are part of the hotel's promotion strategy.

WestJet Airlines has one of the lowest levels of operating expenses in the airline industry. In a SWOT analysis, what is this classified as?

What is the first step in the corporate-level marketing planning process?

Which condition would lead a company's marketers to find a new market, change prices, or compete in other ways to maintain an advantage?

Jonathan is part of a team analyzing current demographic trends. The team will make a recommendation concerning the groups of consumers toward whom the firm should direct its marketing effort. What element of the firm's marketing strategy is Jonathan's team involved in?

Business strategies are impacted by the widespread use of the Internet. Which statement best describes the Internet's impact?

What is the process of anticipating future events and conditions and determining the best way to achieve organizational objectives called?

Employees at middle-management levels engage themselves in business unit budgets and divisional policies and procedures.

Sport Canada is determining where it should build its permanent training facility. The organization wants it near a populated centre but in a rural location enough to provide ample room. What type of planning is the organization engaged in?

Microsoft Windows generates considerable income for the parent company but is also expensive to support. However, the expense is acceptable because Windows is the world's dominant operating system. How would Windows be classed under the market share/market growth matrix?

As the senior vice president of marketing, Naomi will be closely involved in her firm's strategic planning.

A first mover strategy is generally more risky than a second mover strategy, but the rewards are often greater.