Marketing 2101 Chapter 3 (Temple University) – Flashcards
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Which of the following terms refers to the uncontrollable elements outside an organization that might affect its performance either positively or​ negatively?
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External environment
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Assume you are the director of marketing for a major consumer products firm. You are directly involved in the planning process. Because of your role​ (job title) in the​ organization, when it comes to business​ planning, which level of planning would MOST describe your​ activities?
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Functional planning
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In step 2 of the strategic planning​ process, a firm analyzes its strengths and weaknesses and the opportunities and threats in its internal and external environment. What is this analysis​ called?
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SWOT analysis
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Which of the following is the document that describes the marketing​ environment, outlines the marketing objectives and​ strategy, and identifies who will be responsible for carrying out each part of the marketing​ strategy?
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Marketing plan
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According to the BCG growthdash-market share​ matrix, ________ are SBUs with low market shares in​ fast-growth markets.
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question marks
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Which of the following refers to a managerial decision process that matches an​ organization's resources and capabilities to its market opportunities for​ long-term growth and​ survival?
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Strategic planning
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Which of the following marketing strategies is NOT one of the quadrants in the​ product-market growth​ matrix?
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Marketing investment
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As part of the strategic planning​ process, step 4 includes conducting a​ ________, which evaluates a​ firm's business mix and assesses the potential of an​ organization's strategic business units.
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portfolio analysis
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Which of the 4 Ps of marketing is MOST closely related to a distribution​ strategy?
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Place
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According to the BCG growthdash-market share​ matrix, ________ are SBUs with a small share of a​ slow-growth market. They are businesses that offer specialized products in limited markets that are not likely to grow quickly.
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dogs
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A​ ________ refers to the group of different products or brands owned by an organization and characterized by different​ income-generating and growth capabilities.
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business portfolio
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Which of the following terms refers to a formal statement in an​ organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its​ customers, products, and​ resources?
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Mission statement
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Which of the following terms refers to an ongoing process of making decisions that guides the firm both in the short term and for the long​ term?
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Business planning
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According to the BCG growthdash-market share​ matrix, ________ are SBUs with products that have a dominant market share in​ high-growth markets.
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stars
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Which of the following would NOT be part of a​ firm's internal environment that would be assessed in step 2 of strategic​ planning?
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New products being offered by a competitor
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Which of the following refers to step 4 in the market planning​ process?
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Select a target market and the best marketing mix strategy.
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In step 2 of the strategic planning​ process, a firm engages in​ a(n) ________ to assess its internal and external environments.
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situation analysis
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Which of the following strategies are utilized to introduce existing products to new​ markets?
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Market development
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In​ _____ of the marketing planning​ process, marketing managers decide which markets to target and develop the marketing mix strategies to support how they want to position the product in the market.
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step 3
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A firm seeking a growth strategy designed to increase sales of existing products to current​ customers, nonusers, and users of competitive brands in served markets would utilize which of the following marketing​ strategies?
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Market penetration
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Which of the following planning processes focuses on developing detailed plans for​ day-to-day activities that carry out an​ organization's functional​ plans?
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Operational planning
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Which the following refers to a plan that includes the decisions that guide the entire​ organization?
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Business plan
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​_____ is a portfolio analysis model developed by the Boston Consulting Group that assesses the potential of successful products to generate cash that a firm can then use to invest in new products.
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BCG growthdash-market share matrix
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Which of the following refers to individual units within a firm that operate like separate​ businesses, with each having its own​ mission, business​ objectives, resources,​ managers, and​ competitors?
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Strategic business units​ (SBUs)
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According to the BCG growthdash-market share​ matrix, ________ are SBUs with a dominant market share in a​ low-growth-potential market.
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cash cows
