Marketing and Moderate

Topics: Marketing, Strategic management, Marketing plan Pages: 26 (4920 words) Published: May 28, 2011
Chapter 2

Company and Marketing Strategy: Partnering to Build Customer Relationships

Multiple Choice

1. Disney has been successful in selecting an overall company strategy for long-run survival and growth called _____. a. tactical planning
b. strategic planning
c. futuristic planning
d. relationship marketing
(b; Easy; pp. 39-40)

2. When your firm practices developing and maintaining a strategic fit between your organization’s goals and capabilities, it is forming a (an) _____. a. mission statement
b. values statement
c. strategic plan
d. operating plan
(c; Moderate; p. 41)

3. At the corporate level, a company starts the strategic planning process by defining its overall purpose and _____. a. mission
b. values
c. vision
d. strengths
(a; Easy; p. 41)

4. Marketing planning at your firm occurs at what levels?
a. business unit; market
b. business unit; product
c. product; market
d. business unit; product; market
(d; Challenging: p. 41)

5. A clear mission statement acts as an invisible hand that guides people in the firm. It is a statement of _____. a. fact
b. values
c. purpose
d. financial goals
(c; Easy; p. 41)

6. What does a market-oriented mission statement define about the business? a. satisfying basic customer needs
b. satisfying basic supplier needs
c. satisfying basic stockholder needs
d. satisfying basic owner needs
(a; Easy; p. 41)

7. Your text pointed out that mission statements should be both _____ and specific. a. long-term
b. realistic
c. short-term
d. value-laden
(b; Moderate; 41)

8. _____ mission statements provide little real guidance or inspiration. a. Trite
b. Copy-cat
c. Generic
d. none of the above
(c; Easy; p. 44)

9. The company you work for is on the “right track” because its mission statement fits the _____ environment. a. economic
b. political-legal
c. social-cultural
d. market
(d. Moderate; p. 44)

10. Successful organizations base their missions on their _____. a. distinctive competencies
b. strategic plans
c. long-term goals
d. value statements
(a; Moderate; p. 44)

11. The company’s mission needs to be turned into detailed supporting objectives for _____. a. success
b. each level of management
c. corporate needs
d. stockholder wealth
(b; Challenging; p. 45)

12. A strategic plan has this item or items following its marketing objectives. a. budgetary requirements
b. target market selection
c. research plans
d. marketing strategies
(d; Easy; p. 45)

13. What do we call the collection of businesses and products that make up the company? a. investment diversity
b. needs inventory
c. business portfolio
d. none of the above
(c; Moderate; p. 45)

14. Paul Pierce is busy working with other managers evaluating the products and businesses making up their company. Paul is engaged in _____. a. strategic business unit analysis
b. preparing a business portfolio
c. portfolio analysis
d. marketing planning
(c; Moderate: p. 46)

15. Kimball Gardens is a company that operates as two distinctive businesses – one that sells lawn and garden products and one that markets booklets. Each business is called a _____. a. separate entity

b. strategic business unit (SBU)
c. profit center
d. division
(b; Challenging: p. 46)

16. Which of the following does business portfolio planning entail? a. analyzing the current portfolio
b. deciding which units should receive more or less investment c. deciding which units should receive no further investment d. all of the above
(d; Challenging; p. 46)

17. Finding ways in which a company can best use its strengths to take advantage of attractive opportunities in the environment describes _____. a. establishing a...
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