Company and Marketing Strategy
1._____ is the task of selecting an overall company strategy for long-run survival and growth.
a.Strategic market planning
b.Annual market planning
d.None of the above is correct
Answer: (a) Difficulty (1) Page: 41
2.Adapting the firm to take advantage of opportunities in its constant changing environment is called _____. a.Long-range planning
Answer: (d) Difficulty: (1) Page: 42
3.What is our business? Who is our customer? What do our customers value? What should our business be? All these simple-sounding questions define a firm’s _____. a.objectives and goals
d.marketing and functional strategies
Answer: (b) Difficulty: (2) Page: 42
4.A _____ defines a business in terms of satisfying basic customer needs a.market oriented mission statement
d.none of the above is correct
Answer: (a) Difficulty: (2) Page: 43
5.All of the following are accurate descriptions of a company’s mission statement, except which one? a.Mission statement should be realistic.
b.Mission statement should be broad.
c.Mission statement should fit the market environment.
d.Mission statements should be written for ‘public relations’ purposes. Answer: (b) Difficulty: (2) Pages: 43, 44
6.All of the following are market-oriented mission statements, except which one? a.eBay’s mission is to connect individual buyers and sellers online. b.Singapore Airlines is the world’s largest airline.
c.Girl Scouts of America, “where girls grow strong.”
d.Wal-Mart, “we deliver low prices everyday.”
Answer: (b); Difficulty: (1) Page: 43
7.The collection of businesses and products that make up a company is called its _____. a.strategic business unit