...Chapter 2—Strategic Planning for Competitive Advantage TRUE/FALSE 1. The manufacturer of Macho brand martial arts products was implementing a strategic plan when it sponsored a local karate tournament for teenagers. ANS: F Such a short-range decision is typically a tactical plan or operating decision, not a strategic plan. PTS: 1 REF: 35 OBJ: 02-1 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy 2. The marketing plan is a written document that acts as a guidebook of marketing activities for a marketing manager. ANS: T PTS: 1 REF: 36 OBJ: 02-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Marketing Plan 3. A firm's mission statement should answer the question, "What products do we produce best?" ANS: F Mission statements should not focus on specific product offerings but on the market or markets served. PTS: 1 REF: 37 OBJ: 02-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 4. A production costs analysis could be a part of a company’s SWOT analysis. ANS: T PTS: 1 REF: 38 OBJ: 02-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 5. Environmental scanning entails the collection and analysis of information about factors that may affect the organization as well as the identification of market opportunities and threats. ANS: T PTS: 1 REF: 39 OBJ: 02-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 6. To be useful, marketing objectives should meet four criteria:...
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