What they are (likely) asking for is for a general overview of your media outreach methodology and a brief overview of how you would build awareness of the company’s (or client’s) place in the market/their industry.
Your company/client wants to be seen as a leader in their field, wants to be the first thought of when thinking of a product or service (e.g.: Kleenex first pops to mind when you want a tissue) and more than anything, wants to increase sales.
Your job as a PR professional is to build awareness of your company/client, their products and motivate potential customers to buy thier goods before others (because it’s faster, cheaper, longer lasting, etc.).
Tell them what you’d do – specifically. Examples could be to book a relationship-building media tour to introduce the company to the key influencers in your industry (key editors that follow your space), book a media tour to announce a new product to those editors and to vertical publications, or to have a presence at an important trade show or event. Perhaps a senior company executive would like to address his peers (and be seen as an industry leader) by speaking at a trade event. Your job is to identify the opportunities, then do all the legwork to maximize those opportunities, then let the Sales team take the credit
If you’re applying at an agency they’re going to want to know about your Rolodex – which editors (and their industry importance) do you have relationships with? Who will take your call? Who will take your call and chat with you and meet with your company/client because they know you and respect you?
If you’re applying at a company, they’re going to want to see your track record. Where have you placed stories? In which tier of publication? Have you placed a lead story in the WSJ or a tiny blurb in the Podunk Gazette?
Hope this helps.

Suggest you search in Jobs4U.com .
I wouldn’t go about answering the part on planning and strategy as I wouldn’t be applying for the post and therefore have no interest in entertaining the solution to this part of your question.
What you have said in the question is what I call delegation or passing the buck – in my opinion is not good PR on Yahoo.

http://hsc.csu.edu.au/business_studies/
if you go through the links here there may be something..

seriously, try an A level business studies book for detail on this