Chapter 2 – Strategic Marketing Planning – Flashcards
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it clearly outlines the organization's marketing activities
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Which of the following statements best describes the nature of a marketing plan?
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a situation analysis
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Whether at the corporate, business-unit, or functional level, the planning process always begins with an in-depth:
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who do we want to become?
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When creating a corporate vision statement, organizations are attempting to answer which of the following questions:
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what is our operating philosophy?
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Which of the following is one of the five basic questions that a good mission statement should answer?
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width
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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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corporate strategy
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All organizations need a __________, the central scheme for utilizing and integrating resources in the areas or production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.
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competitive advantage
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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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the outline should have some connection to other functional area plans
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With respect to developing a marketing plan, what does it mean for a marketing plan outline to be consistent?
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most readers of a marketing plan are busy and value condensed information
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In a marketing plan, the executive summary should be a complete but concise overview of the entire marketing plan because:
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evaluation and control
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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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evaluation and control
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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 outlines in the __________ section of Motorola's marketing plan.
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It explains how marketing activities mesh with other functional areas
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Which of the following IS NOT a purpose of a marketing plan?
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inadequate communication
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While all marketing plans face a number of obstacles in development and implementation, ___________ is by far the most commonly occurring
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Because top managers must decide whether the marketing plan is the best use of the organization's scarce resources.
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In the context of marketing planning, why is it vital that the marketing plan be capable of selling itself to top management?
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efficiency and quality
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Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.
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relationships; competition
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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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Market-oriented
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__________ firms are those that successfully generate, disseminate, and respond to market information.
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To ensure that his or her employees have everything they need to perform their jobs well.
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In a truly market-oriented organization, what is the role of the CEO?
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the value created by an organization's intangible assets.
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Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:
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vision and strategy perspective
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The Balanced Performance Scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. Which of the following IS NOT one of these perspectives?
