Exam 3: Strategic Market Planning

Effective objectives should be all of the following EXCEPT which one of the following?

A media company has a high market share in the cassette tape market. The cassette tape market has low growth potential. This business fits into the ________ category of the BCG growth-market share matrix.

________ is the third, or "nuts-and-bolts," level of planning.

________ generally cover a shorter time period than other plans, perhaps only one or two months, and include detailed directions for specific activities to be carried out.

Business planning is a process of making decisions that guide the firm in both the short and the long term.

A lagging indicator is a marketing metric used to analyze why a brand is losing market share to a competitor.

Briefly discuss how marketers measure return on marketing investment. Explain why this figure may not be sufficient to judge marketing's effectiveness.

Each year, Honeywell asks every department manager to rate his or her department's strengths and weaknesses as well as those of the other departments with which the department interacts. Then each department manager is asked what he or she sees as the greatest threats and opportunities for the company. Honeywell is asking its department managers to engage in a ________.

A chief marketing officer is more likely to be in charge of strategic planning than functional planning.

Which of the following is a limitation of the BCG matrix?

Which of the following is a tool that marketers often use to portray an action plan's time line?

Periodically, the Walt Disney Company recycles its oldest animated films, such as Snow White, back into movie theaters to delight a new generation of consumers. To what classification of the BCG growth-market share matrix would these old movies belong? Explain.

Strategic planning for a large firm such as Disney with several SBUs probably occurs ________.

The market planning process should be completed before the strategic planning process begins.

Advertising, sales promotion, public relations, publicity, direct marketing, and personal selling are all parts of the ________.

There are ________ different types of SBUs represented within the BCG growth-market share matrix.

________ is the first, or "big picture," level of planning.

The second step of the marketing planning process is to ________.

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. In order to increase market share, managers would be most likely to decide which of the following?

You are a sales manager and you are responsible for tracking a wide range of metrics related to your firm. Explain in which part of the marketing planning process these metrics would be determined and why they are important.