MKTG 311: Module 3
29 Cards in this Set
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Integrating functional departments and pointing them in one direction is a function of
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strategic business plan
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Which is true about the strategic marketing plan
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carried out within the contexts of a firm's strategic business plan. critical and PROVIDES DIRECTION FOR THE FIRM, GUIDES RESCOURCE ALLOCATION. PURE ACCEPTENCE. NOT IMPLEMENTED B/C THEY HAVE NO CONTROL.
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A commitment to a type of business and place in the market defines
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organizational mission
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__________ is based on a firm's history, management preferences, resources, and competencies.
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organizationa; mission
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Not every firm should have one of these
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mission statement
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Which of the following can be demotivating to employees
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mission statements that are UNREALISTIC OR TOO “RAH-RAH”
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The _______ concept helps management allocate resources to products/services with the most long term potential
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strategic business unit
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The fact that S.C. Johnson sells cleaning, home fragrance, pest control and storage products was presented as an example of
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a conglomerate with STRATEGIC BUSINESS UNITS
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Marketing objectives should be set in
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quantitative & qualitative terms
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Internal/external and strengths/weaknesses are part of a
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SWOT/situation analysis
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__________ explains why Ronald McDonald can be both a strength and weakness for McDonald's
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SITUATION ANALYSIS/ SWOT
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Cash cow is part of the
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BOSTON CONSULTING GROUP MATRIX
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Competitive advantage and competitive scope are part of the
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PORTER GENERIC STRATEGY MODEL
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Which of the following product/market opportunity strategies is the least risky
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PENETRATION
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Which of the following product/market opportunity strategies is the most risky
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DIVERSIFICATION
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Which of the following addresses the flow of cash
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Which of the following helps explain why a firm should always be thinking about developing new products
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to avoid going under when product market declines
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Which of the following focuses on risk
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boston consulting group matrix
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Which of the following focuses on lower cost vs. differentiation and broad target market vs. narrow target market
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porter generic strategy
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Which, if any, of the following is true about the strategic business plan
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---
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Which of the following, if any, is true about the strategic business plan
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Generally speaking, the basic goals of functional units such as marketing and production are similar if not almost identical
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A mission statement should include as many stakeholders as possible because they all want the company to maximize profits
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false
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According to the slides, which of the following can help a firm "decide what NOT to do"
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mission statement
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The SBU concept can be applied to
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all companies
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"Did you save room for dessert?" is an example of which, if any, of the four product/market opportunity strategies
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penetration
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The biggest flow of cash is from
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cash cow; mature market
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If you have a product that is a "dog" you can still make money by
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reducing efforts
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Porter's generic strategy is based on which type of competition
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low cost & differentation
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MKTG 311: Module 2