armstrong02_tif - Chapter 2 Company and Marketing Strategy...

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Chapter 2 Company and Marketing Strategy Multiple-Choice 1._____ is the task of selecting an overall company strategy for long-run survival and growth. a. Strategic market planning b. Annual market planning c. Short-term 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 b. Short-range planning c. annual planning d. strategic 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 b. mission statement c. business portfolio 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 b. strategic plan c. annual plan 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 26
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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 b. mission statement c. strategic plan d. business portfolio Answer: (d) Difficulty: (1) Page: 44 8. _____ can be a company division, a product line within a division, or sometimes a single product or brand. a. A market b. The BCG c. An SBU d. All of the above are correct Answer: (c) Difficulty: (1) Page: 44 9. The purpose of _____ is to find ways in which the company can best use its strengths to take advantage of attractive opportunities in the environment. a. a market b. an SBU c. strategic planning d. short-term planning Answer: (c); Difficulty: (2) Page: 45 10. The best known product portfolio planning method was developed by _____. a. Philip Kotler b. Harvard University c. SRI Consulting firm d. Boston Consulting Group Answer: (d) Difficulty: (1) Page: 45 11. Most portfolio analysis methods evaluate SBUs on two dimensions, namely _____ and _____.
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armstrong02_tif - Chapter 2 Company and Marketing Strategy...

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