Exam 3: Strategic Market Planning

Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt, hike, and bike ride. Its long-term plans include the development of lenses that, in addition to protecting users from UV rays, will also have effective water-sheeting action to reduce lens spotting. This new feature will be valuable to people who fish. In terms of a SWOT analysis, the company believes it can use the ________ of its reputation as a sunglasses manufacturer for a specialized market in combination with its current manufacturing facilities and labor force to enter this new market.

Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt, hike, and bike ride. Its long-term plans include the development of lenses that, in addition to protecting users from UV rays, will also have effective water-sheeting action to reduce lens spotting. This new feature will be valuable to people who fish. Serengeti has determined that fishing is one of the fastest growing sports in the United States. In terms of a SWOT analysis, Serengeti has recognized a market ________.

A(n) ________ is a document that describes the marketing environment, outlines the marketing objectives and strategies, and identifies how the company will implement the strategies.

Product development strategies emphasize both new products and new markets.

As a part of the ________ process of market planning, managers need to look carefully at why a company isn't meeting its objectives.

Columbia Sportswear has introduced a new line of comfortable, lightweight clothing for people who fish. An example of ________ is the decision to run a full-page ad in Field & Stream magazine in May to get potential customers to ask their sporting goods stores to carry the new products.

SWOT stands for strengths, willingness, opportunities, and threats.

A donut shop chain opened its first store outside of North America with the opening of a shop in Australia. The donut company used a ________ strategy.

In firms with multiple SBUs, the first step in strategic planning is for top management to ________.

Typically, each element of an action plan is linked to a budget item.

In which step of developing a marketing plan would managers examine external elements that specifically affect the marketing plan?

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

A business plan ________.

Managers using the Boston Consulting Group growth-market share matrix are assessing the potential of a firm's existing SBUs to generate cash needed to invest in other businesses.

According to the BCG growth-market share matrix, ________ are strategic business units with products that have a small share of a slow-growth market.

The ________ provides managers with four different fundamental marketing strategies: market penetration, market development, product development, and diversification.

Vice presidents of large companies are typically in charge of ________ planning.

Which of the following types of managers would be most likely to engage in operational planning on a regular basis?

A situation analysis is also known as a(n) ________.

A detailed quarterly plan that states how many units of product each salesperson on the team needs to sell per month is an example of a(n) ________.