Exam 2: Strategic Planning in Contemporary Marketing

According to the BCG matrix,if a question mark cannot become a star,the firm should pull out of the market and target other markets with greater potential.

Long-term plans focusing on those organizational objectives that will significantly affect a firm for five or more years are usually referred to as _____ plans.

Describe the market share/market growth matrix.

Match each definition to the corresponding term. -_____ command high market shares in low-growth markets.

Strategies once implemented should not be changed even if the actual performance does not meet the desired results.

If an automobile manufacturer was planning to introduce a sports car powered by a hydrogen-oxygen fuel cell when the price of gasoline in the United States reached $4 per gallon,this would best be described as a direct result of its _____ plan.

Maxwell has been promoted to an upper-level management position at QVC.He will be involved in matters relating to transportation media,order processing,and development of marketing channels.Maxwell is involved in developing _____ strategies for the marketing team.

What has five dimensions,is dynamic and ever changing,and drives the marketer's decisions about target markets and the marketing mix?​

Define SWOT analysis and explain its importance.

Match each definition to the corresponding term. -_____ represent units with high market shares in high-growth markets.

With increased availability of information,rivalry heats up among competitors who try to differentiate themselves from the crowd.

The _____ is the organizational program for selecting a target market and satisfying customers in that market through the marketing mix.

Jose is part of a team that is analyzing current demographic trends.The team will make a recommendation concerning the groups of consumers toward whom the firm should direct its new marketing effort.Jose's team is involved in which of the following elements of the firm's marketing strategy?

Each SBU pursues its own distinct mission and often develops its own plans independently.

Organizations within the same industry usually have the same mission.

A statement such as "to hit the 300 employee mark by the end of the year" is typically a part of a mission statement.

In SWOT analysis,situations where organizations are unable to capitalize on opportunities because of internal limitations are referred to as:

In a(n)_____,firms evaluate their products and divisions to determine the strongest and weakest.

A marketing mix should be an ever-changing combination of variables to achieve success.

It can be said that the buying power enjoyed by customers has increased with Internet presence as the Internet provides detailed information that is not easily available elsewhere.