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Management and Organizational Studies 2320A/B Study Guide - Marketing Mix, List Price, Personal Selling

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plumweasel877
5 Apr 2012
School
Western University
Department
Management and Organizational Studies
Course
Management and Organizational Studies 2320A/B
Professor
Angela White

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Document Summary

Strategic planning: the process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities, step 1: define a market-oriented mission. Mission statement what the organization wants to accomplish in the larger environment. Defines the business in terms of satisfying basic customer needs: step 2: setting company objectives and goals. Increase promotion: step 3: designing the business portfolio. The collection of businesses and products that make up the company. Portfolio analysis a major activity in strategic planning whereby management evaluates the products and businesses that make up the company. Strategic business unit (sbu) a unit of the company that has a separate mission and objective that can be planned separately. Identify key businesses that make up the company - assess the attractiveness of it various sbus - decide how much support each sbu deserves.

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Related Questions

Checking the competitive advantage potential of cross-business strategic fit involves:
 
A) evaluating a diversified company's profitability relative to competitors.
 
B) examining a company's costs relative to the costs of its chief rivals in the industry.
 
C) determining if there are opportunities to exploit outsourcing opportunities by a diversified company's lineup of businesses.
 
D) considering what competitive value can be generated from a strategic fit.
 
E) evaluating how much benefit a diversified company can gain from cross-business value chain matchups and resource sharing.

7. The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions to improve an organization's marketing activities is called: a) Market decision analysis b) Statistical analysis c) Marketing research d) SWOT analysis

Which of the following is not true about strategy and/or strategic management? 
 
a. The strategic leader's perspective ought to be the holistic consideration of the business and its environment. 
b. Strategic management encompasses all the functional areas of business. 
c. In business, the strategy requires a big-picture perspective. 
d. Strategies sometimes emerge from bottom-up processes. 
e. A good leader can afford to devise a strategy in isolation from the lower-level leaders who are responsible for executing it