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Exam 2: Strategic Market Planning: Take the Big Picture

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Question 21

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

A) problem child
B) dog
C) cash cow
D) star
E) question mark

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Question 22

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The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market.In order to increase market share,managers would be most likely to decide which of the following?

A) hold the pharmaceuticals division's share
B) implement a harvest strategy
C) use money from a cash cow to promote the pharmaceuticals division
D) divest the SBU
E) diversify the pharmaceutical division

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Question 23

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________ refers to a company's estimate of the number of consumers who are willing and able to pay for a product.

SBU stands for ________.

Analysis of a firm's internal environment identifies the firm's ________.

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets.Each business is called a ________.

Making adjustments to the marketing plan is part of ________.

Strategic planning is also referred to as functional planning.

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

The marketing plan is a type of ________.

Why might a company choose a diversification strategy?

In the ________ stage of marketing planning,marketers must determine how they want consumers to think of their product in comparison to competing products.

Fence Patrol has developed an entirely new mounting system for chain link fences.Although they are a local company,through the acquisition of a distributor they now have the ability to market their products nationwide.Fence Patrol is most likely to be following a ________ strategy.

Jay Minkoff at First Flavor may use the Boston Consulting Group (BCG)matrix to help him in making decisions for his firm.What does he need to understand about the purpose of the matrix and the four categories of the BCG growth-market share matrix ?

Strategic business units (SBUs)are individual units representing different areas of business within a firm that have their own missions,business objectives,resources,managers,and competitors.

Why is it important to consider marketing as an investment rather than as an expense?

Orkin Pest Control Service knows homeowners skimp on maintenance such as pest control during recessions.It also knows that the more consumers know about bugs,the more likely they are to buy the company's services.So Orkin teamed with the Smithsonian Institution on the Insect Safari,a traveling exhibit designed to teach people about the critters.The Safari truck visited 108 cities during one year,leaving a wake of creeped-out insectophobes reaching for the phone numbers of the local Orkin franchise.Business increased in each city the Safari truck visited.Decisions on which cities to visit and what kinds of promotion to use in each city visited are both examples of ________ plans.

Hershey introduced edible Valentine cards when it launched Hugs & Kisses Friendship Exchange and packaged one white chocolate and one brown chocolate Kiss with write-on "To" and "From" areas.This is an example of a market development strategy.

SWOT stands for strengths,willingness,opportunities,and threats.

Operational plans focus on the long-term execution of the marketing plan performed by top-level management.