Exam 2: Strategic Planning in Contemporary Marketing

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 -The _____ is the blending of the four strategy elements to fit the needs and preferences of a specific target market.

In general, a mission statement can be described as a qualitative statement, whereas objectives are often quantitative statements.

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 -is a review that helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

How does the market share/market growth matrix classify products with a low relative share of a high-growth rate market?

Identify Porter's Five Forces and explain how the model fits together.

Which of the following best describes limited occasions when the key requirements of a market and the particular competencies of a firm best fit?

Which of the following best fits the activity of promotion?

What goal do all planning strategies have?

When Apple, manufacturer of the iPad, introduced the iPad Air, it was focused on a market penetration growth strategy.

An international apparel manufacturer changed its pricing strategy as it entered a new market where recessionary trends are being observed. What factor of the marketing environment led the firm to change its pricing decisions?

The strategic planning process involves allocation of necessary resources.

Each element of the marketing mix-product, price, distribution, and promotion-is a subset of the overall marketing strategy.

To evaluate an organization's SBUs, the Boston Consulting Group developed a portfolio performance framework. How did they characterize some of the SBUs?

Initially, cellphones had no limiters as to the regions that could be dialed or the number of different phone numbers that could be dialed. Based on this, many parents would not purchase a phone for their younger children. Next, cellphone manufacturers created phones and plans that limited the number of phone numbers programmed into the phone and no other numbers could be dialed. Only local calling would be available. Which of the following best describes the strategic growth opportunity that is being used?

In a SWOT analysis, when does a problem exist?

What is one of the major problems with strategic windows?

Consumers can now obtain detailed pricing information on the Internet, which has increased their bargaining power with car dealers.

How does planning differ at various levels of organizational management?

According to the BCG matrix, dog products can be sold to other firms, where they are a better fit.

Which statement best describes tactical planning?