Strategic Planning

Question 1

Strategic Plan

Answer 1

Shaped by the organizations mission

Question 2

Mission Statement

Answer 2

Provides a shared sense of ambition, purpose, direction and opportunity

Question 3

The mission statement should be

Answer 3

-Be focused on a limited amount of goals
-Be customer oriented and focused on satisfying basic customer needs and wants
-Capture a shared purpose and provide motivation for employees

Question 4

Parts of the Marketing Plan

Answer 4

1- Executive Summary
2- Situation Analysis
3- Marketing Strategy
4- Financial
5- Controls

Question 5

Situation Analysis

Answer 5

-Market Summary
-SWOT

Question 6

Marketing Strategy

Answer 6

Target Market

Question 7

Financial

Answer 7

-Forecast
-Break even
-Expenses

Question 8

Controls

Answer 8

-Implementation
-Organizational Structure
-Contingency Planning

Question 9

Strategic Direction

Answer 9

-Market Penetration
-Product Development
-Market Development
-Diversificacion

Question 10

Major Strategic Options

Answer 10

-Exporting
-Licensing
-Franchising
-Joint Venture
-Direct Ownership

Question 11

Return on Marketing Investment

Answer 11

Sales multiplied by the gross margin percentage, minus marketing expenditures, divided by marketing expeditures

Question 12

Revenue Analysis

Answer 12

-Market Share Analysis
-Profitability Analysis