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Exam 3: The Role of Marketing in Strategic Planning

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Question 21

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The example of the Las Vegas Hilton's change in strategic focus underscores how companies are increasingly refocusing their attention on the need to manage ________ instead of departments.

A) People
B) Processes
C) Industry scope
D) Planning

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Question 22

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When a market's annual growth rate falls below 10 percent, a star will become a dog if it still has the largest market share.

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Question 23

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"Project RED" was the name given to the long term strategy of which restaurant chain?

Companies that diversify too broadly into unfamiliar products or industries can ________ their market focus.

Define a strategic business unit (SBU). What is contained in one?

The "red" in Project RED, in addition to being a color that is almost universally associated with a sense of urgency, stands for Revenue growth, Expense management, and optimum:

The number of channel levels from raw materials to final product and the distribution in which the company will engage is an example of ________ scope.

A company may discover additional sources of ________, by investigating possible integration moves.

A hotel company acquiring a food distributor is an example of:

What role does the marketing mix play in target marketing?

Which of the following is one of the four Ps of the marketing mix?

A critical and sometimes overlooked stakeholder group is that of owners of hotels managed by a hotel management company.

Studies have shown that a well-crafted mission statement aids a firm's performance as the mission statement serves as a statement of:

A hotel company acquiring one or more of its competitors is an example of:

Which of the following is NOT part of the four Ps of the marketing mix?

One of the major effects of the marketing plan process is that it forces marketing managers to objectively review all steps in the marketing process.

Briefly mention the components of a strategic plan.

The principle objective of a market-oriented mission statement is to:

Mission statements should be realistic and general in nature.

A company starts the strategic planning process at the customer level by defining its values statement and mission.