Marketing Chapter 3

E) functional planning

Market planning is a type of ________. A) day-to-day planning B) financial planning C) strategic planning D) independent planning E) functional planning

C) strategic business units

SBU stands for ________. A) strategic buying utilities B) successful business utilities C) strategic business units D) standard business units E) successful business units

C) at both the overall corporate level and at the individual SBU level

Strategic planning for a large firm such as Disney with several SBUs probably occurs ________. A) only in its corporate headquarters B) only at the individual business unit level C) at both the overall corporate level and at the individual SBU level D) as needed based upon the success of each division E) at each location on a quarterly basis

D) defining the firm's purpose

The CEO, president, and top executive officers are responsible for ________ in the strategic plan. A) operational planning B) developing the details of the pricing strategy C) designing ad campaigns D) defining the firm's purpose E) determining employee benefits

B) strategic, functional and operational

The three levels of business planning are ________. A) managerial, operational and promotional B) strategic, functional and operational C) portfolio, strategic and functional D) SWOT, strategic and tactical E) operational, functional and tactical

D) functional

Vice presidents of large companies are typically in charge of ________ planning. A) business B) strategic C) operational D) functional E) day-to-day

B) Business planning is an ongoing process.

Which of the following is true about business planning? A) Business planning involves taking action before developing objectives. B) Business planning is an ongoing process. C) Business planning is concerned with the long term but not the short term. D) Business planning is concerned with the short term but not the long term. E) Business planning takes place after development of the marketing plan.

A) It is conducted by the various functional areas of a firm.

Which of the following is true about functional planning? A) It is conducted by the various functional areas of a firm. B) It is also called hierarchical management. C) It covers a longer time span than strategic planning does. D) It covers a shorter time span than operational planning does. E) It is the same as strategic planning.

B) the company's sales manager

Which of the following types of managers would be most likely to engage in operational planning on a regular basis? A) the company's CEO B) the company's sales manager C) the company's vice president of product research and development D) the company's vice president of human resources E) the company's chief financial officer

A) Strategic planning

________ is the first, or "big picture," level of planning. A) Strategic planning B) Functional planning C) Operational planning D) Product development E) Business planning

B) Strategic planning

________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth. A) Operational planning B) Strategic planning C) Portfolio analysis D) SWOT analysis E) Budgeting

C) Operational planning

________ is the third, or "nuts-and-bolts," level of planning. A) Strategic planning B) Functional planning C) Operational planning D) Product development E) Business planning

D) includes the decisions that guide the entire organization or its business units

A business plan ________. A) is a document that outlines marketing strategies step by step B) identifies how a company will measure and control specific marketing strategies C) is another name for a marketing plan D) includes the decisions that guide the entire organization or its business units E) is another name for a SWOT analysis

A) marketing plan

A(n) ________ is a document that describes the marketing environment, outlines the marketing objectives and strategies, and identifies how the company will implement the strategies. A) marketing plan B) communications plan C) business plan D) operational plan E) financial plan

A) strategic business units

Areas of business within a firm that are distinct enough to have their own missions, business objectives, resources, managers, and competitors are referred to as ________. A) strategic business units B) market development units C) market penetration units D) standard business units E) competitive intelligence units