Chapter 2 of Intro to Strategic Management

According to a chapter story about H&M clothing stores, H&M is able to put products out quickly and inexpensively by all the following EXCEPT ______________

• having fee middlemen and owning no factories

• having extensive experience in the clothing industry

• having a great knowledge of which goods should be bought from which markets

• having total control of its distribution channel from the time the goods are produce until

  the time there are sold

The task of any business is to deliver _________ at a profit.

• customer needs

• products

• customer value

• products and services

A key ingredient of the marketing management process is insightful, ________ marketing strategies and plans that can guide marketing activities.

• creative

• measurable

• macro

• micro

• macro and micro

In a hyper competitive economy such as ours, a company can win only by fine-tuning the value delivery process and choosing, providing and _________ superior value.

• communicating

• selecting target markets with

• composing

• developing

Planning encourages management to think systematically about what has happened, what is happening and ___________

• when it is happening

• what might happen

• should something happen

• should something stop