COPY: Strategic Marketing Management Process - Gener T. Cueno Mngt. Dept. CEMDS MKGT 80

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What is the purpose of a corporate strategic plan in an organization?

To guide the whole enterprise and make decisions on resource allocations. (correct)

To focus on developing marketing campaigns.

To solely concentrate on business unit restructuring.

To establish the organization's market share.

What managerial process does Market-Oriented Strategic Planning involve?

Focusing solely on internal operations.

Identifying competitors' weaknesses.

Developing and maintaining a viable fit among the organization's objectives, skills, and resources. (correct)

Ignoring changing market opportunities.

What is the first step in the Strategic Planning Process as mentioned in the text?

Establishing policy.

Preparing a mission statement. (correct)

Defining strategic business units (SBUs).

Setting goals.

Why is a Mission Statement essential for an organization?

It guides in effectively establishing objectives and formulating strategies. Signup and view all the answers

What do divisions and business units prepare within the framework of a corporate strategic plan?

Business unit strategic plans. Signup and view all the answers

Which activity is NOT part of Corporate Planning based on the text?

Creating marketing campaigns. Signup and view all the answers

What defines the scope of a business according to the text?

The products and markets it chooses to engage with Signup and view all the answers

Which type of diversification strategy seeks new products that have technological or marketing synergies with existing product lines?

Concentric diversification Signup and view all the answers

What does Ansoff's Product/Market Grid help in defining?

Diversification strategies Signup and view all the answers

What does Customer Value Proposition refer to according to the text?

The product/service offerings relevant to customers Signup and view all the answers

In horizontal diversification, what is the main focus when searching for new products?

Products appealing to current customers Signup and view all the answers

What does conglomerate diversification seek according to the text?

New businesses unrelated to current technology, products, or markets Signup and view all the answers

What is the main difference between a mission statement and a vision statement?

A mission statement focuses on 'what' and 'how,' while a vision statement focuses on 'why.' Signup and view all the answers

In crafting a good mission statement, what is one of the emphasized characteristics?

Be short, memorable, and meaningful Signup and view all the answers

What is one of the roles of vision and mission statements in an organization?

Project a sense of worth and intent Signup and view all the answers

According to Michael Porter, how does he define strategy?

Deliberately choosing a different set of activities to deliver a unique mix of value Signup and view all the answers

What are some activities involved in corporate planning as per the text?

Defining the corporate vision/mission and assigning resources to SBUs Signup and view all the answers

What does a good mission statement stress, according to the text?

Major policies and values Signup and view all the answers