Exam 2: Strategic Planning in Contemporary Marketing

Which of the following BEST describes the strategic business unit (SBU) concept?

Organization-wide objectives, fundamental strategies, long-term plans, and total budget formulation are examples of strategic planning activities handled by top management.

What is one of the major problems with strategic windows?

Which of the following is an example of a firm's strength discovered by a SWOT analysis?

In a SWOT analysis, when does a problem exist?

What is the organizational program that selects a target market and satisfies customers in that market through the marketing mix called?

Each SBU of a diversified company pursues the company mission; it has no specific mission of its own.

SuperSavers Market, a small grocery store chain, is working on its tactical plans.Who would be the personnel MOST involved in this operational planning process?

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 -is the process of anticipating future events and conditions and determining the best way to achieve organizational objectives. 2.identifies competitive forces that influence planning strategies. 3.The _____ process involves implementing planning activities devoted to achieving marketing objectives. 4.Key business units within diversified firms are referred to as ______. 5.is the process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives. 6.involves decisions concerning the goods and services to be offered by a firm. 7.Planning that guides the implementation of activities designed to meet primary objectives is called _____. 8.The _____ is the blending of the four strategy elements to fit the needs and preferences of a specific target market. 9.The _____ is the essential purpose that differentiates one company from another. 10.The limited period during which the key requirements of a market and the resources and skills of an organization best fit together is called the _____. 11.The _____ argues that the first company to offer a product will be the long-term winner. 12.is an important planning tool to determine an organization's strengths and weaknesses.

By 2017, it is expected that Chinese and South Asians will comprise 50 percent of the visible minorities in Canada.

The ability to download Microsoft and IBM software products directly from the Internet is part of each firms' pricing strategy.

A star in the market share/market growth approach to portfolio performance analysis is an SBU with a high market share of a high-growth market.

If Toyota was planning to introduce a sports car powered by a hydrogen-oxygen fuel cell when the price of gasoline in Canada reached $1.10 per litre, what type of plan does this BEST describe?

Relationship-building goals and strategies are seldom included in the plans of business firms.

At a time when computer users were having trouble storing, sending, and displaying photos, Apple introduced the iMac computer, which was equipped with a digital camera interface and photo-handling software.What did Apple recognize, which resulted in this product?

Jonathan is part of a team analyzing current demographic trends.The team will make a recommendation concerning the groups of consumers toward whom the firm should direct its marketing effort.What element of the firm's marketing strategy is Jonathan's team involved in?

A strategic window represents an extended period of time during which the key requirements of a market and the particular competencies of a firm best fit together.

A firm describes its overall goals and operational scope in its organization chart.

Competition seldom has a significant effect on a marketer's pricing strategy.

What long-term plans focus on organizational objectives that will significantly affect the firm for five or more years?