Exam 7: Strategic Planning

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The first step in crafting a position is to identify the importance and performance of your brand to determine competitive advantage.

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The outcome of strategic research usually reaches agency creative departments in the form of a strategy document called a ________.

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________ is found where the product has a strong feature in an area that is important to the target and the competition is weaker.

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Explain insight mining and why it is important.

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Which component of a communication brief details the brand's essence, personality, and image?

(Multiple Choice)
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Typical objectives for which marketing communication area include increasing sales, attracting attention at selection point, delivering product information, and creating a brand reminder?

(Multiple Choice)
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________ use reasons to persuade consumers whereas ________ build an image for a brand and touch consumers' emotions.

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The situation analysis of a typical advertising or IMC plan includes background research, a SWOT analysis, and key advertising problems to be solved.

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The marketing mix strategy includes decisions about the target market, brand position, product design and performance, pricing, distribution, and marketing communication.

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The advertiser's basic assumption is that advertising works if it creates an impression, influences people to respond, and separates the brand from the competition.

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Who in an advertising agency is most accurately described as "speaking for the consumer" or "speaking with the voice of the consumer"?

(Multiple Choice)
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Which advertising budgeting method compares the total sales with the total advertising budget during the previous year or the average of several years to compute a percentage?

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The percentage of the category purchases that are made by the brand's customers is known as ________.

(Multiple Choice)
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Toward the end of the fiscal year, the owner of a small company came back from lunch concerned because he had learned that a business targeting the same customers as his was planning on spending $150,000 on advertising. As soon as he arrived at the office, he called his financial manager and said, "I want to budget $150,000 for next year's advertising." Which method of budgeting did the owner want to use?

(Multiple Choice)
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Caroline needs to develop the advertising budget for her marketing group's brand. She wants to use a method that is the best and most defensible. Which method should she use?

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What is at the core of all account planning?

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In a SWOT analysis, strengths and weaknesses are ________, and opportunities and threats are ________.

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Products that really are the same, such as milk, unleaded gas, and over-the-counter drugs, are referred to as ________ products.

(Multiple Choice)
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The following statement appeared in an organization's business plan: "Quick and Dirty Auto Repair aims to offer high-quality auto repair services and a full range of auto parts, focusing on personalized, convenient, and rapid service." Which part of a business plan does this represent?

(Multiple Choice)
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For advertising to be truly effective, it must focus on only one effect at a time.

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