Question 1

Periodically,the Walt Disney Company recycles its oldest animated films such as Snow White back into the movie theaters to delight another generation of consumers.To what classification of the BCG growth-market share matrix would these old movies belong? Explain.

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Question 2

What type of strategy should a company use to manage its cash cows?

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Question 3

Movie production companies sometimes re-release classic films to theaters to give people who enjoyed them the first time a chance to see the movies again.This is an example of a market penetration strategy.

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Market penetration strategy involves selling more of the same products or services to the same market. Re-releasing classic films to theaters is an example of this strategy as the companies are targeting the same market who enjoyed the movies the first time.

Question 4

Define strategic planning.Discuss the steps involved.

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Question 5

Briefly describe the purpose of a portfolio analysis.

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Question 6

You are a sales manager and you are responsible for tracking a wide range of metrics related to your firm.Explain in what part of the marketing planning process these metrics would be determined and why they are important.

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Question 7

Runnerz is a company that makes running shoes.The company has defined its mission as follows: "At Runnerz,we make great running shoes." By defining itself in terms of its product,Runnerz has created a mission statement that is too broad.

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Question 8

Briefly describe the purpose and components of an action plan.

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Question 9

PaperBackSwap.com needs to conduct a SWOT analysis.Explain the purpose of a SWOT analysis.

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Question 10

Why is it important for all business planning to be integrated?

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Question 11

Explain how business planning helps managers in a firm.

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Question 12

Because Cie de Saint-Gobain of France is Europe's leading distributor of building materials in the high-growth building industry,it is an example of a cash cow.

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Question 13

Compare and contrast strategic planning and operational planning.

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Question 14

Jay Minkoff at First Flavor may use the Boston Consulting Group (BCG)matrix to help him in making decisions for his firm.What does he need to understand about the purpose of the matrix and the four categories of the BCG growth-market share matrix ?

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Question 15

Why are business ethics an important issue in business planning?

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Question 16

Explain how society at large can be hurt by companies using unethical financial and management practices.

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Question 17

Briefly discuss how marketers measure return on marketing investment.Explain why this figure may not be sufficient to judge marketing's effectiveness.

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Question 18

The BCG matrix is a useful approach to evaluate current businesses.Describe a device that a firm could use to decide how to make growth happen.

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Question 19

Hershey introduced edible Valentine cards when it launched Hugs & Kisses Friendship Exchange and packaged one white chocolate and one brown chocolate Kiss with write-on "To" and "From" areas.This is an example of a market development strategy.

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Question 20

A manager's decision to run a quarter-page ad in the business section of the local newspaper to promote goodwill toward his company is part of an operational plan.

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An operational plan is a tactical plan that describes how a company will achieve its current goals and objectives, and it typically includes specific actions to be taken, timelines, and responsible parties. Advertising is one of the actions that can be taken in an operational plan to promote goodwill toward a company, and the decision to run a specific type of ad (such as a quarter-page ad in the business section of a local newspaper) would be part of that plan.

Quiz 2: Strategic Market Planning: Take the Big Picture