Strategic plans require:
long-term resource commitments
_____ is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and evolving market opportunities.
Which of the following statements about a marketing plan is true?
d. A marketing plan is created so an organization can meet its marketing objectives.
_____ is the process of anticipating events and determining strategies to achieve organizational objectives.
Marketing plans should be written to do all of the following EXCEPT:
control the elements of the external marketing environment
Which of the following is one of the elements of the marketing plan?
a. a business mission statement
b. a situation analysis
c. a target market strategy
d. the marketing mix
e. all of the choices
The _____ answers the question, “What business are we in, and where are we going?”
a. mission statement
The focus of an organization’s mission statement should be on:
the market it wishes to serve
_____ occurs when a business is defined in terms of goods and services rather than by the benefits customers seek from it.
A popular technique for managing a large organization with different technologies and markets is to divide it into:
strategic business units
The acronym SBU refers to:
strategic business unit
controls its business independent of other SBUs in the organization
After management agrees on a mission statement, it must set objectives. Which of the following is NOT a characteristic of a good objective?
_____ is defined as a statement of what is to be accomplished through marketing activities
When an organization creates a mission statement that is too narrow, _____ results.
For marketing objectives to be realized, they must meet all of the following criteria EXCEPT:
be set within a one-year time frame
A _____ is a formal study conducted by an organization to ascertain its current status and capabilities and its future expectations.
The SWOT acronym refers to a firm’s analysis of its:
strengths, weaknesses, opportunities, and threats
_____ is defined as the collection and interpretation of information about forces, events, and relationships that may affect the organization.
_____ show costs declining at a predictable rate as experience with a product increases
Which of the following is NOT a source of a cost competitive advantage?
Which of the following is a type of strategic alternative that matches products and markets?
_____ is a strategy of increasing market share for present products in existing markets.
_____ is a strategy that attracts new customers to existing products.
_____ is a strategy that creates new products for present markets.
_____ is the strategy of increasing sales by introducing new products into new markets.
A(n) _____ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments.
market opportunity analysis
The _____ is the unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.
The starting point of any firm’s marketing mix is the:
development of the good or service to be sold
Making sure products are available when and where customers want them is the job of which element of the marketing mix?
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