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Principle of Marketing Chapter 2

In: Business and Management

Submitted By Jianzhi96
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Principles of Marketing, 16e (Kotler)
Chapter 2 Company and Marketing Strategy: Partnering to Build Customer Relationships

1) ________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.
A) Benchmarking
B) SWOT analysis
C) Market segmentation
D) Strategic planning
E) Diversification
Answer: D
AACSB: Analytical thinking
Skill: Concept
Objective: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Easy

2) Which of the following is true with regard to strategic planning?
A) At the corporate level, the company starts the strategic planning process by determining what portfolio of businesses and products is best for the company.
B) A strategic plan deals with a company's short-term goals.
C) The focus of strategic planning is to define a game plan for long-run survival and growth.
D) The strategic plan is a statement of an organization's purpose.
E) Strategic planning involves identifying segments of consumers with identical preferences.
Answer: C
AACSB: Analytical thinking
Skill: Concept
Objective: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Moderate

3) Which of the following is the first step in strategic planning?
A) setting short-term goals
B) developing the business portfolio
C) defining the organizational mission
D) formulating the key marketing strategies
E) identifying the organization's weaknesses and the threats it faces
Answer: C
AACSB: Analytical thinking
Skill: Concept
Objective: LO 2.1: Explain company-wide strategic planning and its four steps.
Difficulty: Easy

4) 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

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