Exam 2: Strategic Marketing Planning

_____ firms are those that successfully generate, disseminate, and respond to market information.

Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:

It is a well-known fact that most American firms focus on short-term results and tend to ignore long-range strategy. Why is this mindset not a good approach when dealing with marketing strategy?

When a firm possesses capabilities that allow it to serve customers' needs better than the competition, the firm is said to have a:

Whether at the corporate, business-unit, or functional level, the planning process always begins with an in-depth:

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20ᵗʰ century, firms tended to focus strictly on _____ rather than on developing relationships with customers.

With respect to developing a marketing plan, what does it mean for a marketing plan outline to be consistent?

Which of the following IS NOT a purpose of a marketing plan?

Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation, nothing gets accomplished and customers do not receive desired benefits."

While all marketing plans face a number of obstacles in development and implementation, _____ is by far the most commonly occurring obstacle across most firms.

In developing a marketing plan, the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect, the goals and objectives section is tied closely to the _____ section of the marketing plan.

Sears at one time lost sight of its mission and jumped into markets that did not fit its strengths. This occurred because Sears lacked a mission statement with the appropriate:

Identify and discuss the major problems associated with creating marketing plans. What are some potential ways that firms and managers can overcome these problems?

Motorola continuously establishes performance standards and assesses actual performance by comparing it with these standards. Afterwards, Motorola often takes corrective action to reduce any discrepancies. This process is most likely outlined in the _____ section of Motorola's marketing plan.

All organizations need a _____, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.

Discuss the concept of balanced strategic planning and the approach outlined by the Balanced Performance Scorecard. What are the five common principles associated with implementing the balanced approach to strategic planning?

In today's business environment, firms that truly focus on customers instill a corporate culture that places customers and other stakeholders at the top of the organizational hierarchy. When this occurs, the firm shifts its focus from transactions to _____, and from _____ to collaboration.

Which of the following is one of the five basic questions that a good mission statement should answer?

Which of the following statements best describes the nature of a marketing plan?

When creating a corporate vision statement, organizations are attempting to answer which of the following questions?