armstrong_mai08_tif_02

armstrong_mai08_tif_02 - Chapter 2 Company and Marketing...

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Chapter 2 Company and Marketing Strategy: Partnering to Build Customer Relationships GENERAL CONTENT: Multiple-Choice Questions 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. Advertising e. None of the above is correct (Answer: a; p. 37; Easy) 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 e. environmental scanning (Answer: d; p. 37; Easy) 3. What is our business? Who’s 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 e. operational strategies (Answer: b; p. 37; Moderate) 4. A _____ defines a business in terms of satisfying basic customer needs. a. market oriented mission statement b. strategic plan c. annual plan d. operational plan e. none of the above is correct (Answer: a; p. 38; Moderate) 33
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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 statement should be written for “public relations” purpose. e. Mission statement might outline employee growth options. (Answer: b; p. 39; Moderate) 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.” e. None of the above is a market-oriented mission statement. (Answer: b; p. 38; Easy) 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 e. operational factors (Answer: d; p. 40; Easy) 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. A PLC e. An initiator (Answer: c; p. 40; Easy) 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 e. operational planning (Answer: c; p. 40; Moderate) 34
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10. The best known product portfolio planning method was developed by _____. a.
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This note was uploaded on 02/22/2012 for the course BUAD 3010 taught by Professor Sullinger during the Spring '08 term at Toledo.

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armstrong_mai08_tif_02 - Chapter 2 Company and Marketing...

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