Question 1

Which of the following is an example of a product-oriented mission statement?
"At Home Depot, we empower consumers to achieve the homes of their dreams."
"At Canada's Wonderland theme park, we create fantasies - a place where dreams come true."
"At Nike, we bring innovation and inspiration to every athlete in the world.."
"At Revlon, we sell lifestyle and self-expression; success and status; memories, hopes, and dreams."
"At CP Hotels, we rent rooms."

Accepted Answer

"At CP Hotels, we rent rooms."

Question 2

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?
value-delivery network
mission statement
supporting objectives
profit analysis
strategic plan

Accepted Answer

strategic plan

Question 3

Which of the following is the final step in the strategic planning process?
defining the company mission
setting company objectives and goals
designing the business portfolio
planning marketing and other functional strategies
identifying the company's culture

Accepted Answer

planning marketing and other functional strategies

Question 4

Paul Pierce is busy working with other managers evaluating the products and businesses making up their company.Paul is engaged in ________.
defining the company's mission statement
preparing a business portfolio
portfolio analysis
marketing planning
marketing control

Accepted Answer

The answer of Paul Pierce is busy working with other...

Question 5

Which of the following is an example of a market-oriented mission statement?
"We help you organize the world's information and make it universally accessible and useful."
"We run theme parks."
"We make customer food and drink products."
"We hold online auctions."
"We sell tools and home repair items."

Accepted Answer

The answer of Which of the following is an example...

Question 6

Which of the following is a market-oriented business definition?
"to provide a local trading platform where practically anyone can trade practically anything"
"to sell tools and home repair and improvement items"
"to deliver low prices every day"
"to be the best company in our industry"
"to bring inspiration and innovation to everyone in the world"

Accepted Answer

The answer of Which of the following is a market-oriented...

Question 7

The first step in strategic planning is to ________.
set objectives and goals
develop the business portfolio
define the company mission
plan marketing strategies
identify a problem

Accepted Answer

The answer of The first step in strategic planning is...

Question 8

Business portfolio planning involves two steps: ________ and ________.
identifying SBUs; assessing the attractiveness of SBUs
analyzing the current business portfolio; shaping the future business portfolio
identifying internal strengths; identifying external opportunities
conducting a SWOT analysis; establishing marketing controls
identifying growth opportunities; evaluating growth opportunities

Accepted Answer

The answer of Business portfolio planning involves two steps: ________...

Question 9

________ is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.
Strategic planning
Annual market planning
Short-term planning
Long-range planning
Advertising

Accepted Answer

The answer of ________ is the process of developing and...

Question 10

Revlon has clearly defined its "mission" of selling lifestyle and self-expression.In order for the firm to launch its strategic plan, the mission needs to be turned into detailed ________ that guide each level of the company.
sets of strategies
sets of tactics
sets of product mixes
supporting objectives
sets of promotional tools

Accepted Answer

The answer of Revlon has clearly defined its "mission" of...

Question 11

Which of the following is an accurate guideline for a clear mission statement?
A mission statement should focus on sales.
A mission statement should act like an "invisible hand" that guides people in the organization.
A mission statement should focus on profits.
A mission statement should be very general.
A mission statement should be very specific.

Accepted Answer

The answer of Which of the following is an accurate...

Question 12

When the makers of a ballpoint pen state they are in the communication equipment business, they are defining their mission too ________.
narrowly
realistically
specifically
broadly
early

Accepted Answer

The answer of When the makers of a ballpoint pen...

Question 13

The collection of businesses and products that make up a company is called its ________.
strategic business unit
mission statement
strategic plan
business portfolio
operational factors

Accepted Answer

The answer of The collection of businesses and products that...

Question 14

___________ deals with the company's current business and _______involves adapting a firm to take advantage of opportunities in its constantly changing environment.
Long-range planning; strategic planning
Short-range planning; long-range planning
Annual planning; long-range planning
Strategic planning; short-range planning
Environmental scanning; strategic planning

Accepted Answer

The answer of ___________ deals with the company's current business...

Question 15

Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?
objectives and goals
mission statement
business portfolio
marketing and functional strategies
operational strategies

Accepted Answer

The answer of Which of the following provides an answer...

Question 16

After management has identified the key businesses making up its company, what is the next step?
Identify businesses in which to invest.
Assess the attractiveness of its SBUs.
Decide whether to harvest any businesses.
Complete short-range planning.
Complete SBU identification.

Accepted Answer

The answer of After management has identified the key businesses...

Question 17

________ should be market oriented and defined in terms of ________.
Strategic plans; company needs
Annual plans; product needs
Long-range plans; company needs
Mission statements; customer needs
Objectives; customer needs

Accepted Answer

The answer of ________ should be market oriented and defined...

Question 18

________ can be a company division, a product line within a division, or sometimes a single product or brand.
A market
The BCG
An SBU
A PLC
A value delivery network

Accepted Answer

The answer of ________ can be a company division, a...

Question 19

A ________ defines a business in terms of satisfying basic customer needs.
market-oriented mission statement
product-oriented mission statement
technology-oriented mission statement
environment-oriented mission statement
strategic plan

Accepted Answer

The answer of A ________ defines a business in terms...

Question 20

A vendor for Ford Motor Company received the following message from one of Ford's marketing managers: "As we move forward during the 21st century, it is incumbent upon us to inform you that Ford is committed to building profitable customer relationships by creating environmentally better cars and getting them to market faster at lower costs." The marketing manager is most likely referring to Ford's ________.
vision statement
market tactics
business portfolio
mission statement
business objectives

Accepted Answer

The answer of A vendor for Ford Motor Company received...

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

Which of the following is the final step in the strategic planning process? defining the company mission setting company objectives and goals designing the business portfolio planning marketing and other functional strategies identifying the company's culture

Paul Pierce is busy working with other managers evaluating the products and businesses making up their company.Paul is engaged in ________. defining the company's mission statement preparing a business portfolio portfolio analysis marketing planning marketing control

The first step in strategic planning is to ________. set objectives and goals develop the business portfolio define the company mission plan marketing strategies identify a problem

________ is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities. Strategic planning Annual market planning Short-term planning Long-range planning Advertising

When the makers of a ballpoint pen state they are in the communication equipment business, they are defining their mission too ________. narrowly realistically specifically broadly early

The collection of businesses and products that make up a company is called its ________. strategic business unit mission statement strategic plan business portfolio operational factors

Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be? objectives and goals mission statement business portfolio marketing and functional strategies operational strategies

After management has identified the key businesses making up its company, what is the next step? Identify businesses in which to invest. Assess the attractiveness of its SBUs. Decide whether to harvest any businesses. Complete short-range planning. Complete SBU identification.

should be market oriented and defined in terms of . Strategic plans; company needs Annual plans; product needs Long-range plans; company needs Mission statements; customer needs Objectives; customer needs

________ can be a company division, a product line within a division, or sometimes a single product or brand. A market The BCG An SBU A PLC A value delivery network

A ________ defines a business in terms of satisfying basic customer needs. market-oriented mission statement product-oriented mission statement technology-oriented mission statement environment-oriented mission statement strategic plan