Exam 1: Strategic Planning and the Marketing Management Process

The customer will be more satisfied and the firm will be more profitable when

In the early 1990s, Procter & Gamble marketed three brands of toilet paper, Charmin, White Cloud, and Banner. The toilet paper industry is typically described as a low growth industry. In 1993, P&G spent $8.1 million to advertise Charmin and was rewarded with sales of over $312 million. In that same year, it spent nearly $8 million marketing White Cloud, but the toilet paper had disappointing sales of less than $63 million. Banner, with hardly any promotion at all, had $3.6 million in sales. According to the BCG Portfolio Model, which of the following statements about these three products best describes the situation in 1993?

The true mission of a company is to provide value for three key constituencies, namely

The organization's environment provides the _____ that sustains the organization, whether it is a business, a college or university, or a government agency.

In large organizations, the marketing plans of individual departments are guided by

The Steakhouse is a restaurant selling steaks. Its mission statement was to provide its customers with the world's best steaks. Changes in consumer tastes resulted in fewer customers for the steakhouse. The company had to venture into new and different markets to maintain profitability. These new conditions and a redundant mission statement would make the steakhouse a(n)

The Mattel Corporation targets children from the age of 3 and up. Fisher-Price makes toys for babies and toddlers. The Mattel Corporation recently purchased Fisher-Price for $1.1 billion. This acquisition gives Mattel a new product line aimed at the younger siblings of its current target market. By targeting the under-three group with age-appropriate toys, Mattel has implemented a _____ strategy.

Which of the following is not an interrelated task in the process of marketing planning?

Identify the marketing type which is designed to attract donors, members, participants, or volunteers?

With an ever-burgeoning population, futurists predict the need for more efficient ways to produce food to feed the earth's population, and many companies are involved in genetic research. One of the companies at the forefront of research on disease and insect-resistant seeds is Monsanto's biotech division, which has already produced soybean and corn seeds that are immune to several diseases that reduce crop yields. In terms of the BCG Portfolio Model, Monsanto's biotech division is a

Which of the following pertains to the objective "build share"?

Monsanto is an enterprise that is composed of three parts. Its biotech section, (researching to develop crops that are pest and disease-resistant) provides about half of its sales. Pharmaceuticals from its G.D. Searle subsidiary contribute a third of its revenues; and food products, dominated by the artificial sweetener NutraSweet, make up less than 20 per cent of its total revenue. Monsanto's three strategic business units would generally

The _____ for Coca-Cola Classic includes lemon-lime drinks, fruit juice, bottled water, sports drinks, other colas, caffeine-free colas, diet drinks, cherry-flavored drinks, and dairy beverages.

Maintaining consistent levels of employee satisfaction with our own and similar industries could be a possible objective of which of the following areas of performance?

What is most likely wrong with the following mission statement for a store that sells lighting fixtures: "Our mission is to make sure every customer who buys a lighting fixture at our store is 100 percent satisfied with his or her purchase?"

According to the BCG matrix, _____ are often market leaders, but the market they are in is not growing rapidly.

As part of its 1998 summer ad campaign, NBC ran ads that previewed reruns of popular TV programs and used the slogan, "New to You" to get people who had missed the shows during the previous season to watch. This slogan is most closely related to which of the organizational growth strategies?

When the mission statement of an organization is focused on markets rather than products, it means that the mission statement

Eddy's Ice Cream developed a line of whole fruit sorbets targeted at people who are loyal Eddy's consumers, but dislike all the fat and calories in ice cream. What organizational growth strategy was used here?

At the supermarket, Lisa noticed that her favorite stain remover now comes in spray bottles, 2 sizes of aerosol cans, and a refill bottle. Given this information and the fact that the stain remover has reduced its shelf price by 5 percent, you could say the manufacturer of the stain remover has implemented a _____ strategy.