1. The planning process involves anticipating conditions and determining how best to attain organizational objectives.
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2. Strategic planning activities are conducted by a firm's senior or executive-level managers such as the CEO.
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3. Planning often is classified on the basis of its scope or breadth.
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4. Tactical plans typically determine an organization’s primary strategic objectives and exclude short-term actions from their purview.
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5. Tactical planning usually involves the production of quarterly and semiannual plans, along with divisional budgets, policies, and procedures.
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6. Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.
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7. The chief executive officer (CEO) and chief marketing officer (CMO) spend a greater proportion of their time on operational planning than do managers at all other organizational levels.
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8. Employees at middle-management levels engage themselves in business unit budgets and divisional policies and procedures.
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9. Supervisory managers tend to focus exclusively on strategic planning.
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10. The planning process begins at the corporate level with the first step being the development of strategic objectives.
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11. A marketing plan is flexible and allows managers to re-evaluate and respond to changing factors in the environment.
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12. A statement such as “to hit the 300 employee mark by the end of the year” is typically a part of the SWOT analysis.
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13. An organization typically includes its basic objectives, or goals, in a marketing plan.
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14. Organizational objectives should include specific intentions, such as “Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years.”
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15. Organizational objectives may specify time frames stating “Our organization aims to generate a 15 percent profit over the next 24 months.”
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16. When making tactical plans, managers don't need to be rushed and can take their time to make decisions.
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17. Marketing plans once implemented should not be changed even if the actual performance does not meet the desired results.
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18. Marketers implement marketing strategies and monitor performance by tracking key performance indicators to ensure that objectives are being achieved.
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19. Porter’s Five Forces are potential new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, and rivalry among competitors.
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20. The number of suppliers available to a manufacturer or retailer affects the bargaining power of buyers.
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21. Competitive rivalry among competitors who are trying to differentiate themselves from the crowd may lead to expensive advertising campaigns.
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22. SWOT analysis refers to an examination of a firm that is limited to the variables of its stability, work ethic, organizational structure, and technological expertise.
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23. A SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.
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24. The disadvantage of core competencies is that they can be easily duplicated by competitors.
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25. Matching an external opportunity with an internal weakness produces a situation known as leverage.
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26. Strategic business units are key business units within small companies that offer only a few items to its customers.
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27. Strategic business units (SBUs) of a diversified firm have common managers, resources, objectives, and competitors.
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28. Each strategic business unit (SBU) in a firm has to prepare its plans in collaboration with other units in the organization.
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29. Each SBU pursues its own distinct mission and often develops its own plans independently.
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30. The position of an SBU along the horizontal axis indicates the annual growth rate of the market.
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31. According to the BCG matrix, stars require considerable inflows of cash to finance further growth.
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32. According to the BCG matrix, cash cow businesses produce strong cash flows and invest heavily in the unit’s own promotions and production capacity.
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33. 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.
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34. According to the BCG matrix, dog products can be sold to other firms, where they are a better fit.
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35. The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as:
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36. Decisions regarding product lines, pricing, selection of appropriate distribution channels, and promotional campaigns are____.
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37. Marketing planning establishes the:
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38. Long-term plans focusing on those organizational objectives that will significantly affect a firm are usually referred to as _____ plans.
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39. ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. This is a direct result of the _____ planning process at ADA Inc.
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40. 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.
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41. The U.S. Sports and Fitness Federation is determining where they should build their permanent training facility. They want it to be located near a populated center but it must also provide ample access to those who don’t reside in cities. The federation is engaged in _____ planning.
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42. An event management company decided to use radio advertising in order to promote an upcoming music festival. The executives of the company suggested various activities that could be used for the radio campaign. These activities are a part of the company’s _____.
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43. A company’s plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.
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44. Preparation of quarterly and semiannual plans by personnel such as the general sales manager or advertising director would be classified as _____ planning.
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45. Compared to other organization personnel, more time is devoted to long-range strategic planning by the:
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46. In the planning hierarchy, plans dealing with organization-wide objectives, long-term plans, and the total budget would be classified as _____ plans.
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47. Employees of Popsie Inc., a small grocery store chain, are working on its tactical plans. The personnel most involved in this level of its planning process would be its:
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48. Operational planning:
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49. Which of the following statements is true of tactical planning?
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50. Comcast’s NBC division acquired Universal Studios and the highest executive who approved this acquisition was most likely Comcast’s CEO. This decision is the direct result of _____ planning process at Comcast.
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51. The first step of the marketing planning process involves:
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52. Which of the following is NOT one of Porter's five Forces related to market competition?
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53. Enterprise Rental Cars is able to secure favorable prices from major automobile manufacturers such as Ford and Chevrolet for their rental fleets due to the large number of vehicles they purchase each year. This is an example of _____, one of Porter's Five Forces related to marketplace competition.
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54. A company typically modifies its strategy when:
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55. The basic objectives or goals of an organization are derived from its:
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56. Business strategist Michael E. Porter identified five competitive forces that influence _____ in a model called Porter’s Five Forces.
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57. Which of the following is a dimension of Porter’s Five Forces model?
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58. Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter’s Five Forces model, such offers will:
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59. An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which of the following statements is true?
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60. A shoe manufacturer has multiple suppliers for leather. Based on this information, which of the following statements is true?
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61. Which of the following conditions would lead a company’s marketers to find a new market, change prices, or compete in other ways to maintain an advantage?
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62. Core competencies are capabilities that customers value and competitors:
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63. A certain social networking corporation has the highest number of users in the social networking industry. This is an example of the firm’s:
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64. A SWOT analysis is designed to reveal, among other things, a firm's core competencies, which reflect its:
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