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
