Exam 2: Strategic Marketing Planning

Motorola continuously establishes performance standards and assesses actual performance by comparing it with these standards. Afterwards. Motorola often takes corrective action to reduce any discrepancies. This process is most likely outlined in the __________ section of Motorola's marketing plan.

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(Multiple Choice)

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Question 1

Correct Answer:

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Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation. nothing gets accomplished and customers do not receive desired benefits."

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Question 2

Correct Answer:

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It is difficult to contradict this statement. However, students must realize that implementation occurs on two fronts: externally with markets and customers and internally with employees. It is obvious that external implementation is vital to the success of the strategy-even if the strategy is flawed. In Chapter 1, the text describes how there are very few rules in marketing. Hence, a bad strategy could prove to be correct by the time it is implemented. However, poor implementation is always a key reason for marketing failure.
Internally, good implementation is essential for getting things done. All marketing plans, when executed, have repercussions both inside and outside the firm. Even seemingly disconnected events in finance or human resources can have an effect on the firm's ultimate customers-the individuals and businesses that buy the firm's products. The short answer is that the firm must rely on its people to implement the strategy. Hence, good implementation will always consider the effects of the strategy on employees.

In developing a marketing plan. the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect. the goals and objectives section is tied closely to the __________ section of the marketing plan.

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Question 3

Correct Answer:

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Which of the following IS NOT a purpose of a marketing plan?

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Question 4

Explain how and why the process of developing a marketing plan might be more important than the marketing plan document itself. What are the benefits of the planning process irrespective of the actual outcomes of the process?

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Question 5

In today's business environment. firms that truly focus on customers instill a corporate culture that places customers and other stakeholders at the top of the organizational hierarchy. When this occurs. the firm shifts its focus from transactions to . and from to collaboration.

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Question 6

When creating a corporate vision statement. organizations are attempting to answer which of the following questions:

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Question 7

Discuss the concept of balanced strategic planning and the approach outlined by the Balanced Performance Scorecard. What are the five common principles associated with implementing the balanced approach to strategic planning?

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Question 8

Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:

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Question 9

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

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Question 10

In a truly market-oriented organization. what is the role of the CEO?

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Question 11

Identify and discuss the major problems associated with creating marketing plans. What are some potential ways that firms and managers can overcome these problems?

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Question 12

When a firm possesses capabilities that allow it to serve customers' needs better than the competition. the firm is said to have a:

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Question 13

All organizations need a __________. the central scheme for utilizing and integrating resources in the areas of production. finance. research and development. human resources. and marketing to carry out the organization's mission and achieve desired goals and objectives.

(Multiple Choice)

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Question 14

__________ firms are those that successfully generate. disseminate. and respond to market information.

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Question 15

In the context of marketing planning. why is it vital that the marketing plan be capable of selling itself to top management?

(Multiple Choice)

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Question 16

With respect to developing a marketing plan. what does it mean for a marketing plan outline to be consistent?

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Question 17

Which of the following is one of the five basic questions that a good mission statement should answer?

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Question 18

Identify and discuss the five questions that should be answered by a good mission statement. Why do you think some firms have mission statements that do not answer these basic questions?

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Question 19

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following $\bold{\text{IS NOT}}$ one of these perspectives?

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Question 20

Showing 1 - 20 of 25

Motorola continuously establishes performance standards and assesses actual performance by comparing it with these standards. Afterwards. Motorola often takes corrective action to reduce any discrepancies. This process is most likely outlined in the __________ section of Motorola's marketing plan.

Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation. nothing gets accomplished and customers do not receive desired benefits."

In developing a marketing plan. the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect. the goals and objectives section is tied closely to the __________ section of the marketing plan.

Which of the following IS NOT a purpose of a marketing plan?

Explain how and why the process of developing a marketing plan might be more important than the marketing plan document itself. What are the benefits of the planning process irrespective of the actual outcomes of the process?

In today's business environment. firms that truly focus on customers instill a corporate culture that places customers and other stakeholders at the top of the organizational hierarchy. When this occurs. the firm shifts its focus from transactions to . and from to collaboration.

When creating a corporate vision statement. organizations are attempting to answer which of the following questions:

Discuss the concept of balanced strategic planning and the approach outlined by the Balanced Performance Scorecard. What are the five common principles associated with implementing the balanced approach to strategic planning?

Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

In a truly market-oriented organization. what is the role of the CEO?

Identify and discuss the major problems associated with creating marketing plans. What are some potential ways that firms and managers can overcome these problems?

When a firm possesses capabilities that allow it to serve customers' needs better than the competition. the firm is said to have a:

All organizations need a __________. the central scheme for utilizing and integrating resources in the areas of production. finance. research and development. human resources. and marketing to carry out the organization's mission and achieve desired goals and objectives.

__________ firms are those that successfully generate. disseminate. and respond to market information.

In the context of marketing planning. why is it vital that the marketing plan be capable of selling itself to top management?

With respect to developing a marketing plan. what does it mean for a marketing plan outline to be consistent?

Which of the following is one of the five basic questions that a good mission statement should answer?

Identify and discuss the five questions that should be answered by a good mission statement. Why do you think some firms have mission statements that do not answer these basic questions?

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following $\bold{\text{IS NOT}}$ one of these perspectives?

Marketing in Today's Economy

Collecting and Analyzing Marketing Information

Developing Competitive Advantage and Strategic Focus

Customers. Segmentation. and Target Marketing

The Marketing Program

Branding and Positioning

Ethics and Social Responsibility in Marketing Strategy

Marketing Implementation and Control

Developing and Maintaining Long-Term Customer Relationships

Filters

Exam 2: Strategic Marketing Planning

Motorola continuously establishes performance standards and assesses actual performance by comparing it with these standards. Afterwards. Motorola often takes corrective action to reduce any discrepancies. This process is most likely outlined in the __________ section of Motorola's marketing plan.

Defend or contradict this statement: "The most important aspect of strategic market planning is marketing implementation. Without good implementation. nothing gets accomplished and customers do not receive desired benefits."

In developing a marketing plan. the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect. the goals and objectives section is tied closely to the __________ section of the marketing plan.

Which of the following IS NOT a purpose of a marketing plan?

Explain how and why the process of developing a marketing plan might be more important than the marketing plan document itself. What are the benefits of the planning process irrespective of the actual outcomes of the process?

When creating a corporate vision statement. organizations are attempting to answer which of the following questions:

Discuss the concept of balanced strategic planning and the approach outlined by the Balanced Performance Scorecard. What are the five common principles associated with implementing the balanced approach to strategic planning?

Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

In a truly market-oriented organization. what is the role of the CEO?

Identify and discuss the major problems associated with creating marketing plans. What are some potential ways that firms and managers can overcome these problems?

When a firm possesses capabilities that allow it to serve customers' needs better than the competition. the firm is said to have a:

All organizations need a __________. the central scheme for utilizing and integrating resources in the areas of production. finance. research and development. human resources. and marketing to carry out the organization's mission and achieve desired goals and objectives.

__________ firms are those that successfully generate. disseminate. and respond to market information.

In the context of marketing planning. why is it vital that the marketing plan be capable of selling itself to top management?

With respect to developing a marketing plan. what does it mean for a marketing plan outline to be consistent?

Which of the following is one of the five basic questions that a good mission statement should answer?

Identify and discuss the five questions that should be answered by a good mission statement. Why do you think some firms have mission statements that do not answer these basic questions?

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following IS NOT\bold{\text{IS NOT}}IS NOT one of these perspectives?

Marketing in Today's Economy

Collecting and Analyzing Marketing Information

Developing Competitive Advantage and Strategic Focus

Customers. Segmentation. and Target Marketing

The Marketing Program

Branding and Positioning

Ethics and Social Responsibility in Marketing Strategy

Marketing Implementation and Control

Developing and Maintaining Long-Term Customer Relationships

Filters

The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following $\bold{\text{IS NOT}}$ one of these perspectives?