C2 Strategic Marketing Planning

1. A mission statement answers which of the following questions? What business are we in?
2. Whether at the corporate, business-unit, or functional level, the planning process always
begins with an in-depth: situation analysis.
3. An ethically sourced chocolate company wants to write a statement that answers the
question, “What do we want to become?” What type of statement does the chocolate
company want to write? vision statement
4. Which of the following is one of the five basic questions that a good mission statement
should answer? What are our core competencies or competitive advantages?
5. A central plan for utilizing and integrating resources in the areas of production, finance,
research and development, human resources, and marketing to carry out the
organization’s mission and achieve desired goals and objectives is called: corporate
strategy.
6. Walmart’s long-running strategic investments in logistics allow the retailer to operate
with lower inventory costs than its competitors. This is called a competitive advantage.
7. A good marketing plan outline is consistent. What does it mean for a marketing plan to
be consistent? The outline should have some connection to other functional area plans.
8. In developing a marketing plan, the section on goals and objectives defines the
parameters by which the firm will measure actual performance. What section of the
marketing plan is the goals and objectives section tied closely to? evaluation and control
9. Eats Food Company continuously establishes performance standards and assesses actual
performance by comparing it with these standards. Afterward, Eats Food Company takes
corrective action to reduce discrepancies. In what section of the company’s marketing
plan is this process most likely outlined? evaluation and control
10. In the context of marketing planning, why is it vital that the marketing plan be capable of
selling itself to top management? Because top executives must decide whether the
marketing plan is the best use for the organization’s resources.
11. Amazon has created a series of relationships with smart home-device companies, app
developers, and other third parties in the creation of its Alexa ecosystem. This
exemplifies how today’s twenty-first-century marketing organizations have shifted focus
from transactions to relationships and from competition to which of the following?
Collaboration
12. Firms that successfully generate, disseminate, and respond to market information
are market-oriented.
13. Which of the following is part of a company's internal market? Employees
14. Profit would be an example of a(n)  goal or objective.
15. Why might an overly broad mission statement be problematic? It could lead a company to
establish plans in areas where their strengths are limited.
16. When approving the marketing plan, which of the following questions will a top manager
ask? Are there alternative uses of resources that would better meet corporate or
business-unit objectives than the submitted marketing plan?
17. "Tomorrow's breadwinner" is one type of product type which its market is very
attractiveness True
18. Long-run corporate health requires a balance of "products that generate cash now" and "
others that use cash now but promises to generates cash in the future" True
19. In order of improve performance, solutions are Increase sale; Reduce total cost; Improve
productivity; Increase market share
20. We can expand market by new users; new uses; increase use frequency; new products
21. we can increase share by create alliances; acquire share; win share
22. A company can gain competitive advantage by: Differentiation; Cost leadership
23. To control marketing performance, we can use metrics: Complaints; Loyalty; Total number
of customers; Relative perceived quality; Customer satisfaction