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Home Page Social Science Business Mktg 3810 Chapter 2 - Flashcards

Mktg 3810 Chapter 2 – Flashcards

Patrick Thompson
8 July 2022
8 test answers

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question
_____ is the task of developing and maintaining an overall company strategy for long-run survival and growth.
answer
Strategic Planning
question
_____ involves adapting a firm to take advantage of opportunities in its constant changing environment.
answer
Strategic Planning
question
Starbucks has an annual plan in place to deal with the company's current strategic business unit (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 constantly changing environment, Starbucks needs a _________ in place.
answer
Strategic Plan
question
The first step in strategic planning is to ______.
answer
define the company mission
question
Which of the following are a step in the strategic planning process?
answer
setting company objectives and goals designing the business portfolio defining the company mission planning marketing and other functional strategies
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question
The management of an organization should reexamine the organization's mission statement______.
answer
when the organization is drifting
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question
Which of the following provides an answer to these question: What is our business? Who are our customers? What do our customers value? What should our business be?
answer
mission statement
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question
A vendor for Ford Motor Company received the following message from one of Ford's marketing managers: "As we move forward during the 21st
mission statement
answer
mission statement
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Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.