BCOR 2201 Marketing Chapter 2

The strategic planning process begins with _______. a. organizational mission and goals b. SWOT analysis c. finance objectives d. business-unit strategies e. marketing objectives

a. organizational mission and goals

Southwest is known for its culture of "luv" and its fun-loving approach. This is an example of which of the following? a. Marketing objective b. Corporate mission c. Business-unit strategy d. Corporate identity e. Corporate strategy

d. Corporate identity

Which of the following is NOT a component of the marketing plan? a. Marketing implementation b. Marketing strategies c. Executive summary d. SWOT analysis e. Business analysis

e. Business analysis

Conducting a SWOT analysis comes immediately before the establishment of corporate and business-unit strategies. True or False

False

The marketing implementation section of the marketing plan outlines how the company will achieve its objectives. True or False

False

Which of the following is NOT one of the steps in strategic performance evaluation? a. Modifying the marketing strategy, if necessary b. Establishing a timetable for implementation c. Establishing performance standards d. Comparing actual performance with established standards e. Measuring actual performance

b. Establishing a timetable for implementation

Which of the following provides an overview of the entire marketing plan so that readers can quickly identify the key issues and their roles in the planning and implementation process? a. Environmental analysis b. Executive summary c. Marketing implementation d. SWOT analysis e. Performance evaluation

b. Executive summary

Which of the following competitive growth strategies strives to increase sales of current products in new markets? a. Market share b. Market development c. Market penetration d. Diversification e. Product development

b. Market development

Which of the following is based on the philosophy that a product's market growth rate and its market share are important considerations in determining marketing strategy? a. Sales analysis b. Market growth/market share matrix c. Mission-goal matrix d. Product-market matrix e. SWOT analysis

b. Market growth/market share matrix

The unique symbols, personalities, and philosophies that support all corporate activities including strategic planning and marketing are best described as _______. a. corporate strategy b. corporate identity c. mission statement d. market share e. SWOT analysis

b. corporate identity

When the right combination of circumstances and timing permits an organization to take action to reach a particular target market, there exists a(n) _______. a. weakness b. market opportunity c. core competencies d. strategic window e. competitive advantage

b. market opportunity

Google has written down the following: "to organize the world's information and make it universally accessible and useful." This is most likely a part of Google's _______. a. marketing objective b. mission statement c. marketing plan d. corporate strategy e. strengths

b. mission statement

When conducting a SWOT analysis, which of the following are barriers that could prevent an organization from reaching its objective? a. Market opportunity b. Weaknesses c. Threats d. Opportunities e. Strengths

c. Threats

Which of the following provides a uniform marketing vision for the firm and is the basis for internal communications? a. Target market b. Marketing strategy c. Mission statement d. Performance standard e. Marketing plan

e. Marketing plan

Through the process of ________________, a company establishes an organizational mission and formulates goals, a corporate strategy, marketing objectives, and a marketing strategy.

strategic planning