科特勒市場營銷題庫2016新版chapter2

科特勒市場營銷題庫2016新版chapter2PrinciplesofMarketing,16e(Kotler)Chapter2CompanyandMarketingStrategy:PartneringtoBuildCustomerRelationships1)________istheprocessofdevelopingandmaintainingacrucialfitbetweentheorganization'sgoalsandcapabilitiesanditschangingmarketingopportunities.A)BenchmarkingB)SWOTanalysisC)MarketsegmentationD)StrategicplanningE)DiversificationAnswer:DAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy2)Whichofthefollowingistruewithregardtostrategicplanning?A)Atthecorporatelevel,thecompanystartsthestrategicplanningprocessbydeterminingwhatportfolioofbusinessesandproductsisbestforthecompany.B)Astrategicplandealswithacompany'sshort-termgoals.C)Thefocusofstrategicplanningistodefineagameplanforlong-runsurvivalandgrowth.D)Thestrategicplanisastatementofanorganization'spurpose.E)Strategicplanninginvolvesidentifyingsegmentsofconsumerswithidenticalpreferences.Answer:CAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate3)Whichofthefollowingisthefirststepinstrategicplanning?A)settingshort-termgoalsB)developingthebusinessportfolioC)definingtheorganizationalmissionD)formulatingthekeymarketingstrategiesE)identifyingtheorganization'sweaknessesandthethreatsitfacesAnswer:CAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy4)WhichofthefollowingisNOTastepinthestrategicplanningprocess?A)definingthecompanymissionB)settingcompanyobjectivesandgoalsC)designingthebusinessportfolioD)planningmarketingandotherfunctionalstrategiesE)evaluatingmembersofthecompany'svaluechainAnswer:EAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy5)A________documentsanorganization'spurpose—whatitwantstoaccomplishinthelargerenvironment.A)visionstatementB)missionstatementC)businessportfolioD)valuepropositionE)productstrategyAnswer:BSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy6)Missionstatementsshould________andbedefinedintermsof________.A)betechnologyoriented;meetingtheself-actualizationneedsofcustomersB)beproductoriented;satisfyingtheesteemneedsofcustomersC)embodythecompany'sshort-termplans;currentopportunitiesD)bemarketoriented;satisfyingbasiccustomerneedsE)addresssalesandprofits;thenetreturnoninvestmentsAnswer:DSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate7)Amissionstatementservesasa________.A)statementoftheorganization'snetprofitsB)planforshort-termsustainabilityC)statementoftheorganization'spurposeD)statementoftheorganization'scurrentliabilitiesE)rewardplanfortheorganization'shighly-skilledemployeesAnswer:CSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy8)WhichofthefollowingisNOTamarket-orientedbusinessdefinition?A)"Weempowercustomerstorealizetheirdreams."B)"Wemakehigh-qualityconsumerfoodproducts."C)"Wesellsuccessandstatus."D)"WecreatetheHiltonexperience."E)"Webringinnovationtoeveryhome."Answer:BAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate9)Companiesthatdefinetheirmissionsintermsofproductsortechnologiesareconsideredmyopicprimarilybecause________.A)productsandtechnologiesresultinlowreturnsoninvestmentB)consumerpreferenceswithregardtoproductsandtechnologyaredifficulttopredictC)consumerpreferencesfordifferentproductcategoriesvaryfromtimetotimeD)productsandtechnologieseventuallybecomeoutdatedE)mostconsumersarenotcomfortableusingsophisticatedtechnologyduringthebuyingprocessAnswer:DAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate10)OrionInc.operatesinmanyindustries,includingpharmaceuticalsandfoodproducts.Thecompany'sgoalistocreate"abundantandaffordablefoodforallandahealthyenvironment."ThisrepresentsOrion's________.A)marketingplanB)productmixC)businessportfolioD)marketingmixE)missionstatementAnswer:EAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate11)Whichofthefollowingcompanieshasaproduct-orientedbusinessdefinition?A)Aluxuryhotel,whosebusinessdefinitionis:"Wesellout-of-the-worldexperiencestoourguests."B)Arealestatecompany,whosebusinessdefinitionis:"Weselldreams."C)Acosmeticcompany,whosebusinessdefinitionis:"Weofferhopesandself-expression."D)Ashoemanufacturer,whosebusinessdefinitionis:"Wemanufactureaffordableandlong-lastingshoesforall."E)Ahigh-technologycompany,whosebusinessdefinitionis:"Wesellinspirations."Answer:DAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate12)Whichofthefollowingcompanieshasamarket-orientedbusinessdefinition?A)Anelectronicscompany,whosebusinessdefinitionis:"Weproducemicrochips."B)Ahotel,whosebusinessdefinitionis:"Werentrooms."C)Anapparelcompany,whosebusinessdefinitionis:"Wemakeandsellwomen'sclothing."D)Acosmeticcompany,whosebusinessdefinitionis:"Wesellhopeandself-esteem."E)Apizzeria,whosebusinessdefinitionis:"Weselltheworld'smostdeliciousthin-crustpizzas."Answer:DAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate13)WhichofthefollowingisNOTanexampleofproduct-orientedmissionstatements?A)"Weareanonlinelibrary."B)"Werunthemeparks."C)"Wesellathleticshoes."D)"Wesellmemorableexperiences."E)"Werenthotelrooms."Answer:DAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate14)Whichofthefollowingisamarket-orientedmissionstatement?A)"Weempowercustomerstoachievetheirdreams."B)"Weselljumboburgers."C)"Weareanonlinelibrary."D)"Wearealow-costairline."E)"Wemakeporcelainfigurines."Answer:AAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate15)Missionstatementsshouldbe________.A)meaningfulandspecificyetmotivatingB)technologyorientedC)writtensolelyforpublicrelationspurposesD)focusedonincreasingsalesorprofitsE)strictlyproductorientedAnswer:AAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy16)Thecollectionofbusinessesandproductsthatmakeupacompanyiscalledits________.A)strategicbusinessunitB)supplychainC)strategicplanD)businessportfolioE)internalvaluechainAnswer:DSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy17)Whichofthefollowingisthefirststepofbusinessportfolioplanning?A)shapingthefutureportfoliobydevelopingstrategiesforgrowthanddownsizingB)determiningwhichbusinessesshouldreceivemore,less,ornoinvestmentC)identifyinginternalstrengthsandweaknessesD)identifyingfutureopportunitiesE)determiningshort-termgoalsAnswer:BAACSB:ApplicationofknowledgeSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy18)Themajoractivityinstrategicplanningis________,wherebymanagementevaluatestheproductsandbusinessesthatmakeupthecompany.A)SWOTanalysisB)benchmarkingC)businessportfolioanalysisD)breakevenanalysisE)prospectingAnswer:CAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy19)Whichofthefollowingbestdescribesastrategicbusinessunit?A)theinternalvaluechainofacompanyB)thesupplychainofacompanyC)thekeybusinessesthatmakeupacompanyD)thekeychannelintermediariesofaservicecompanyE)thekeycompetitorsofacompanyAnswer:CAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy20)Duringportfolioanalysis,acompany________afteridentifyingthekeybusinessesthatmakeupthecompany.A)formulatesashort-termmarketingplanB)assessestheattractivenessofitsvariousSBUsC)assessesitsstrengthsandweaknessesD)performsaSWOTanalysisE)assessestheeffectivenessofitsvariouschannelintermediariesAnswer:BAACSB:ApplicationofknowledgeSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy21)MoststandardportfolioanalysismethodsevaluateSBUsonthe________.A)potentialfornicheorglobalmarketingB)degreeofproductdifferentiationC)strengthofthemarketorindustrypositionD)accessibilitytoruralmarketsE)numberofsuccessfulbusinessacquisitionsAnswer:CAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy22)AccordingtotheBostonConsultingGroupapproach,________providesameasureofmarketattractiveness.A)productattributeB)productdesignC)marketpenetrationD)marketgrowthrateE)marketsegmentationAnswer:DAACSB:ApplicationofknowledgeSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy23)AccordingtotheBostonConsultingGroupapproach,________servesasameasureofcompanystrengthinthemarket.A)relativemarketshareB)productdevelopmentC)marketdiversificationD)productattributeE)marketsegmentationAnswer:AAACSB:ApplicationofknowledgeSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy24)WhichofthefollowingistrueoftheBCGmatrixapproach?A)Itisinexpensivetoimplement.B)Itdoesnothaveanylimitations.C)Itconsidersmarketgrowthratetobeameasureofmarketattractiveness.D)Itdescribesconsumermotivationsandneeds.E)Itdoesnotconsiderrelativemarketsharetobeameasureofcompanystrengthinthemarket.Answer:CAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy25)ThekeybusinessesofKimberleyandPriceconsistofadivisionthatproducesandsellsbreakfastcerealsandanotherthatmanufacturesgardeningtools.Eachofthesebusinessesiscalleda________.A)marketsegmentB)strategicbusinessunitC)questionmarkD)prospectE)productportfolioAnswer:BAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate26)________areatypeofSBUthatoftenrequireheavyinvestmentstofinancetheirrapidgrowth.A)CashcowsB)QuestionmarksC)StarsD)DogsE)BearsAnswer:CSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy27)________arelow-growth,high-sharebusinesses/productsthatneedlessinvestmenttoholdtheirmarketshare.A)StarsB)CashcowsC)QuestionmarksD)DogsE)BearsAnswer:BSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy28)Whichofthefollowingistruewithregardtocashcows?A)Theyarehigh-growth,high-sharebusinessesorproducts.B)Theycanbeusedtohelpfinancethecompany'squestionmarksandstars.C)Theyrequiresignificantcashtomaintainmarketshare.D)Theyarelow-sharebusinessesandproducts.E)Theydonotpromisetobelargesourcesofcash.Answer:BAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy29)________arelow-sharebusinessunitsinhigh-growthmarketsthatrequirealotofcashtoholdtheirshare.A)StarsB)DogsC)QuestionmarksD)CashcowsE)BearsAnswer:CSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy30)ThepharmaceuticalsdivisionofOmniHealthcareholdslowmarketshareinahigh-growthmarket.AccordingtotheBCGmatrix,thepharmaceuticalsdivisionofOmnicanbeclassifiedasa________.A)starB)bearC)questionmarkD)cashcowE)dogAnswer:CAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Challenging31)ByharvestingitsSBU,acompanywouldmostlikelybe________.A)milkingtheSBU'sshort-termcashflowregardlessofthelong-termeffectB)sellingtheSBUorphasingitoutandusingtheresourceselsewhereC)investingjustenoughtoholdtheSBU'scurrentmarketshareD)investingmoreinthebusinessunittobuilditsshareE)diversifyingthecompany'sproductlineAnswer:AAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy32)Acompanycan________anSBUbysellingitorphasingitoutandusingtheresourceselsewhere.A)divestB)promoteC)expandD)harvestE)holdAnswer:AAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy33)Modernstrategicplanning________.A)exclusivelyconsistsofacompany'sshort-termgoalsB)isdecentralizedC)doesnotinvolvecross-functionalteamsD)doesnottaketheoverallmissionofthecompanyintoconsiderationE)ishighlycentralizedAnswer:BAACSB:ApplicationofknowledgeSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy34)TheBCGmatrixapproachisproblematicinthatit________.A)focusesonplanningforthefutureatthecostofignoringthepresentB)focusessolelyoncurrentbusinessesandprovideslittlescopeforfutureplanningC)tendstounderminetheimportanceofmarketgrowthrateasameasureofmarketattractivenessD)tendstounderminetheimportanceofrelativemarketshareasameasureofcompanystrengthinthemarketE)failstoclassifySBUsAnswer:BAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy35)Whichofthefollowingisaportfolio-planningtoolforidentifyingcompanygrowthopportunitiesthroughmarketpenetration,marketdevelopment,productdevelopment,ordiversification?A)BCGmatrixB)analysisofvarianceC)product/marketexpansiongridD)HarrismatrixE)SWOTanalysisAnswer:CAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy36)Phoenix,apopularcoffeeshopchaininNorthAmerica,recentlyopened400storestocatertoitsrapidlyincreasingnumberofpatrons.Thisexemplifies________.A)productdifferentiationB)productdevelopmentC)diversificationD)marketpenetrationE)marketsegmentationAnswer:DAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy37)Whichofthefollowingistruewithregardtotheproduct/expansiongrid?A)ItclassifiesSBUsintofourdistinctcategories.B)Itisausefuldeviceforidentifyinggrowthopportunities.C)Ithelpscompaniesanalyzetheirinternalstrengthsandweaknesses.D)Itfunctionsonthepremisethatfirmsshoulddownsizetoregainmarketshare.E)Itisausefuldeviceforsegregatingcustomersintodistinctcategories.Answer:BAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy38)Makingmoresalestocurrentcustomerswithoutchangingafirm'sproductsisknownas________.A)marketsegmentationB)marketpenetrationC)productdiversificationD)productdevelopmentE)prospectingAnswer:BSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy39)LarkInc.,anAmericanelectronicscompany,iscurrentlyreviewingnewgeographicalmarketstosellitshighlypopulartelevisions.By2020,itplanstoopennewstoresacrossallthemajorSouthAsiancities.Larkismostlikelyfollowinga________strategy.A)localmarketingB)marketdevelopmentC)diversificationD)productadaptationE)productdevelopmentAnswer:BAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate40)ThemanagersofArrow,anAmericanretailchain,arecurrentlyreviewingnewdemographicmarketstosellthefirm'scurrentproducts.Thisisanexampleof________.A)marketpenetrationB)productdevelopmentC)massmarketingD)marketdevelopmentE)productadaptationAnswer:DAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy41)ThemanagersofAlfredo'sPizza,apopularpizzeriainNewYorkCity,havebeenincreasinglyencouragingseniorcitizenstovisitthepizzeria'snumerousoutletsspreadacrossthecity.Anticipatingariseinthepopulationofseniorcitizensinthearea,themanagementofAlfredo'sPizzaisseekingtotapintothispromisingsegmentthatconsistsofretired,affluentconsumers.Inthisinstance,themanagersofAlfredo'sPizzaareanticipatingcompanygrowththrough________.A)marketdevelopmentB)productdevelopmentC)masscustomizationD)nichemarketingE)productdifferentiationAnswer:AAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate42)FencePro,alocalcompany,hasdevelopedanentirelynewmountingsystemforchainlinkfences.Afteracquiringadistributor,FencePronowhastheabilitytomarketitsproductsnationwide.FenceProismostlikelyfollowinga________strategy.A)marketpenetrationB)marketdevelopmentC)downsizingD)productadaptationE)productdevelopmentAnswer:BAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate43)Amor,asuccessfulbrandofwomen'sclothing,recentlyintroducedalineoffitnessequipment.Thisisanexampleof________.A)masscustomizationB)nichemarketingC)diversificationD)prospectingE)productadaptationAnswer:CAACSB:Applicationofknowledge;AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate44)SunnyBrewsisacoffeehousechainbasedinBoston.ItrecentlyintroducedEva,amildroast,whichbecameimmenselypopular.Thisexemplifies________.A)benchmarkingB)diversificationC)masscustomizationD)productdevelopmentE)downsizingAnswer:DAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate45)Awomen'sapparelmanufacturerinCaliforniarecentlyacquiredaHouston-basedcompanythatmanufacturesofficefurniture.Thisisanexampleof________.A)productdevelopmentB)marketdevelopmentC)marketpenetrationD)diversificationE)productdifferentiationAnswer:DAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy46)ElmoCorp.,amanufacturerofpersonalcomputersandprinters,recentlyestablishedanofficefurnitureexportingbusiness.Thisisanexampleof________.A)nichemarketingB)localmarketingC)diversificationD)productadaptationE)downsizingAnswer:CAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:ModerateRefertothescenariobelowtoanswerthefollowingquestion(s).Fun-SpotFunParkbeganasasmallamusementparkin1985.Withnothingmorethanamerry-go-round,aslide,ponyrides,andanicecreamstand,Fun-Spotgrewintoapopularfamilyattractionwith20rides,arestaurant,andanoutdoorperformingartstheater."Mywife,Gail,andIdidn'tknowwhatweweregettinginto,"commentedRonHart,theowner."Wejustknewthatweekenderscomingtothelakesinourruralarearepresentedanuntappedmarket."Today,thousandsofvisitorsflocktoFun-Spot:families,childrenofallages,andevenseniorcitizenswhoenjoystrollingthroughthegardensandthearbors."There'ssomethinghereforeveryone,"GailHartsaidwithasmile."Dozensofcompaniesholdannualcompanypicnicshere.Wehavewelcomedclassfieldtrips.Andweevenhadoneweddinghereatthepark!""Here'sthefunnything,"Ronchimedin."Wereallydon'tknowwhywe'vebeensosuccessful.ThereisnothingelselikeFun-SpotFunParkinthearea.Wewerejustlucky.""Ithinkit'stheambienceoftheparkthathasbroughtsomanyvisitors,"Gailadded."Weprovidea'totalpackage'ofentertainment.Plus,wetrytochangeourridesandvariousattractionsfromtimetotimeforvariety."RonandGailHartadmittedthatmakingeveryvisitorhappyisapriority."Thathasalwaysbeenourphilosophy,"theysaid."Likethepark'smottoattheentrancereads,'We'reheretomakeyouhappy!'Andwe'vealwaysbeenabletodeliveronthatbecausewe'veneverallowedourselvestogrowtoobigtooquickly."47)Fun-Spot'smissionis________.A)productorientedB)technologyorientedC)marketorientedD)designorientedE)narrowlyfocusedonprofitsAnswer:CAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate48)Fun-SpotFunParkrepresentsahigh-growth,high-sharebusiness.AccordingtotheBCGmatrix,itcanbeclassifiedasa________.A)starB)questionmarkC)bearD)catE)dogAnswer:AAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy49)RonandGailplantolowerFun-Spot'spricesinanefforttoencouragecustomerstostaylonger,visitmoreoften,andspendmoremoneyduringeachvisit.WhattypeofstrategyareRonandGailplanning?A)marketpenetrationB)marketdevelopmentC)productdevelopmentD)productadaptationE)diversificationAnswer:AAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate50)RonandGail,ownersofFun-Spot,strivetoprovidenewofferingsandentertainmentoptionsfortheirvisitors.Thistypeofstrategycanbebestdescribedas________.A)marketpenetrationB)marketdevelopmentC)productdevelopmentD)nichemarketingE)diversificationAnswer:CAACSB:AnalyticalthinkingSkill:ApplicationObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Moderate51)Thepurposeofstrategicplanningistofindwaysinwhichyourcompanycanbestuseitsstrengthstotakeadvantageofattractiveopportunitiesintheenvironment.Answer:TRUEAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy52)Amissionstatementisadocumentembodyinganorganization'sshort-termgoals.Answer:FALSEAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy53)Aclearmissionstatementactsasan"invisiblehand"thatguidespeopleintheorganization.Answer:TRUEAACSB:AnalyticalthinkingSkill:ConceptObjective:LO2.1:Explaincompany-widestrategicplanninganditsfoursteps.Difficulty:Easy54)Missionstatementsshouldbemarketorientedanddefinedintermsofsatisfyingbasiccustomerneeds.Answer:TRUESkill:ConceptObjective:LO2.