Chapter 2   Company and Marketing Strategy:

Partnering to Build Customer Relationships

1) Which of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment?

A) long-range planning

B) short-range planning

C) media planning

D) strategic planning

E) annual planning

Answer:  D

Diff: 2               Page Ref: 38

Skill:  Concept

Objective:  2-1

2) When a firm develops and maintains a strategic fit between its goals and capabilities, it is performing ________.

A) mission planning

B) values planning

C) strategic planning

D) business-portfolio planning

E) operations planning

Answer:  C

Diff: 1               Page Ref: 38

Skill:  Concept

Objective:  2-1

3) Which of the following is the first step in strategic planning?

A) set objectives and goals

B) develop the business portfolio

C) define the company mission

D) plan marketing strategies

E) identify threats and weaknesses

Answer:  C

Diff: 1               Page Ref: 39

Skill:  Concept

Objective:  2-1