Test Prep This preview shows page 1 - 3 out of 11 pages. 5) A ________ documents an organization's purpose—what it wants to accomplish in thelarger environment.A) vision statementB) mission statementC) business portfolioD) value propositionE) product strategyAnswer:B Page Ref: 39Skill:ConceptObjective:2-1Difficulty:Easy16) Which of the following refers to a set of benefits that a company promises to deliverto customers to satisfy their needs?D Get answer to your question and much more Page Ref: 9Skill:ConceptObjective:1-3Difficulty:Easy38) Which of the following is true with regard to the product/expansion grid?B Get answer to your question and much more Page Ref: 44Skill:ConceptObjective:2-1Difficulty:Easy We have textbook solutions for you! The document you are viewing contains questions related to this textbook. Essentials of Business Communication Guffey/Loewy 45) According to Maslow's hierarchy of needs, which of the following is the LEASTpressing need?DPage Ref: 148 Get answer to your question and much more Skill:ConceptObjective:5-2Difficulty:Easy75) The boom in Internet marketing has created a new set of social and ethical issues.Critics worry most about ________.A) accessibilityB) puffery in advertisingC) online privacy issuesD) sustainabilityE) issues pertaining to efficiencyAns c 2) Brad works with a reputed retailer and leads a team that collects market informationfrom a wide variety of sources ranging from marketing research studies to monitoringonline conversations where consumers discuss Brad's firm or its products. Brad's teamuses this information to arrive at a better understanding of consumer behavior and theirbuying motives. This, in turn, allows Brad's firm to successfully generate more value forconsumers. Brad leads the ________ team. Get answer to your question and much more Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 11 pages? Upload your study docs or become a Course Hero member to access this document We have textbook solutions for you!The document you are viewing contains questions related to this textbook. The document you are viewing contains questions related to this textbook. Essentials of Business Communication Guffey/Loewy Expert Verified Marketing MCQ Marketing Chapter 2 A ________ documents an organization's purpose—what it wants to accomplish in the larger environment. A) vision statement Answer: B Is a statement of the organization's purpose what it wants to accomplish in the larger environment?Mission Statement – A statement of the organization's purpose – what it wishes to accomplish in the larger environment. Answers what the business is, who the customer is, what they value, and what should the business be.
What is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities?Strategic planning is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities. The business portfolio is the collection of businesses and products that make up the company.
What is the purpose of evaluating performance during the last step of the marketing plan process?The final step in the planning process involves evaluating performance using marketing metrics such as sales, profits, gross margin, and return on investment in order to compare a firm's performance over time to that of competing firms.
What is the primary question a mission statement should answer?The definition of a mission statement is a concise description of your organization's core purpose, answering the question, “why do we exist?”. A mission needs to boldly state why you exist, and why you do what you do.
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Is a statement of the organizations purpose what it wants to accomplish in the larger environment?
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