Question 1

Developing assignment of responsibilities,time lines,budgets,and measurement and control processes are documented in a(n).

Accepted Answer

An action plan outlines the specific steps, responsibilities, timelines, budgets, and control processes needed to achieve strategic goals.

Question 2

In recent years security regulations,driven by the federal government through the Transportation Safety Administration,impacted Southwest Airlines.These regulations are part of the affecting this airline.

Accepted Answer

The security regulations imposed by the federal government are external factors that affect Southwest Airlines, making them part of the external environment.

Question 3

Campbell's can advertise new uses for soup in lunches and dinners to encourage customers to eat more soup.The firm might try to increase sales by cutting prices,improving distribution,or conducting promotions aimed at attracting users on a competing soup brand.What growth strategy was Campbell's implementing? Explain.

Accepted Answer

The answer of Campbell's can advertise new uses for soup...

Question 4

Archetype is a Unilever SBU that markets a number of different tea brands around the world.Each brand addresses the taste and emotions of local tea cultures.How would you classify the marketing Archetype does to create specific products for the more than 100 countries in which it is sold?

Accepted Answer

Archetype's ability to market different tea brands tailored to local tastes and emotions is a strength, as it allows the company to effectively meet diverse consumer preferences and enhance its competitive advantage in various markets.

Question 5

According to the BCG growth- market share matrix,are strategic business units with products having a small share of a slow- growth market.

Accepted Answer

In the BCG matrix, "dogs" are products with a small market share in a slow-growth market. They typically generate low profits or even losses and have limited potential for growth.

Question 6

How is a portfolio analysis related to a firm's business portfolio?

Accepted Answer

The answer of How is a portfolio analysis related to...

Question 7

A marketing plan .

Accepted Answer

A marketing plan is a document that outlines a company's strategy for marketing its products or services, including an analysis of the marketing environment, target market, marketing objectives, and tactics.

Question 8

The product- market growth matrix .

Accepted Answer

The product-market growth matrix, also known as the Ansoff Matrix, provides managers with four different fundamental marketing strategies: market penetration, market development, product development, and diversification.

Question 9

decisions identify how marketing will accomplish its objectives in the target markets.

Accepted Answer

The marketing mix refers to the set of actions or tactics that a company uses to promote its brand or product in the market, which includes decisions on product, price, place, and promotion to achieve marketing objectives in target markets.

Question 10

A business plan _.

Accepted Answer

A business plan includes the decisions that guide the entire organization or its business units, outlining the strategy and direction for achieving business goals.

Question 11

Southwest Airlines uses a to target customers who could not previously afford air travel.

Accepted Answer

Southwest Airlines uses a pricing strategy to offer low-cost fares, making air travel affordable for customers who previously could not afford it.

Question 12

The three levels of business planning are .

Accepted Answer

The three levels of business planning are strategic, functional, and operational. Strategic planning involves setting long-term goals and determining the resources needed to achieve them. Functional planning focuses on specific areas or departments within the organization, aligning them with the strategic plan. Operational planning involves the day-to-day activities and processes required to run the business efficiently.

Question 13

An SBU fits into the category of the BCG model when sales have been steady and the firm has a large market share.

Accepted Answer

A cash cow in the BCG model represents a business unit with a large market share in a mature, steady market, generating consistent cash flow.

Question 14

A sales managers set an objective for her team to increase the units sold for the quarter by 5%.This is an example of an activities that are part of the detailed _ _ plans that are created annually,semiannually,or quarterly.

Accepted Answer

Operational plans are detailed plans that outline how specific tasks or activities will be carried out to achieve short-term objectives, such as quarterly sales targets.

Question 15

According to the BCG growth- market share matrix,are strategic business units with products that have low market shares in a fast- growth market.

Accepted Answer

In the BCG matrix, "question marks" are products with low market share in a high-growth market. They have potential but require significant investment to increase market share.

Question 16

is the number of consumers who are willing and able to pay for products.

Accepted Answer

Potential demand refers to the number of consumers who are willing and able to pay for products.

Question 17

Functional planning .

Accepted Answer

Functional planning involves creating detailed plans for strategies and tactics that are typically focused on the short-term, aligning with the organization's overall strategic goals.

Question 18

When Quaker Oatmeal urged users to lower their cholesterol by taking the 30 day challenge the aim was to increase usage.Quaker used a strategy.

Accepted Answer

The strategy used by Quaker Oatmeal to encourage existing customers to use more of their product is market penetration, which focuses on increasing sales of current products to the existing market.

Question 19

The step in the marketing planning process in which decisions are made concerning what markets to target and what marketing mix to use is .

Accepted Answer

Developing marketing strategies involves making decisions about target markets and the marketing mix, which includes product, price, place, and promotion strategies.

Question 20

Functional planning is also called planning.

Accepted Answer

Functional planning is often referred to as tactical planning, which focuses on short-term actions and plans to achieve specific functional objectives within an organization.

Quiz 2: Strategic Market Planning: Capture the Big Picture

Developing assignment of responsibilities,time lines,budgets,and measurement and control processes are documented in a(n) .