Company and Marketing Strategy: Partnering to Build Customer Relationships

Marketing: An Introduction, 10e (Armstrong/Kotler)

Chapter 2 Company and Marketing Strategy: Partnering to Build Customer Relationships

1) ________ is the task of developing and maintaining an overall company strategy for long-run survival and growth.

A) Strategic planning

B) Annual market planning

C) Short-term planning

D) Long-range planning

E) Advertising

Answer: A

Diff: 2 Page Ref: 39

Skill: Concept

Objective: 2-1

2) ________ involves adapting a firm to take advantage of opportunities in its constantly changing environment.

A) Long-range planning

B) Short-range planning

C) Annual planning

D) Strategic planning

E) Environmental scanning

Answer: D

Diff: 2 Page Ref: 39

Skill: Concept

Objective: 2-1

3) Starbucks has an annual plan in place to deal with the company's current SBUs and their operations. However, as a growth-oriented firm, Starbucks is interested in both domestic and international markets. This requires Starbucks to constantly monitor the environment and adapt to the opportunities with which it is presented. To take advantage of its changing marketing opportunities, it is most important for Starbucks to have which of the following in place?

A) value-delivery network

B) mission statement

C) supporting objectives

D) profit analysis

E) strategic plan

Answer: E

Diff: 2 Page Ref: 39

Skill: Concept

Objective: 2-1

4) The first step in strategic planning is to ________.

A) set objectives and goals

B) develop the business portfolio

C) define the company mission

D) plan marketing strategies

E) identify a problem

Answer: C

Diff: 1 Page Ref: 39

Skill: Concept

Objective: 2-1

5) Which of the following is NOT a step in the strategic planning process?

A) defining the company mission

B) setting company objectives and goals

C) designing the business portfolio

D) planning marketing and other functional strategies

E) identifying the company's culture

Answer: E

Diff: 2 Page Ref: 39

Skill: Concept...