Strategy - CORRECT ANSWER A plan designed to meet the objectives of a company
5 P's of Mitzberg's view on strategy - CORRECT ANSWER Plan - set of actions.
Ploy - short term strategy,few objectives,subject to change.
Pattern - consistent behavior.
Position - customer needs and ...
Corporate level strategy - CORRECT ANSWER The overall scope and purpose of the
organization.
Business level strategy - CORRECT ANSWER Deals with how the organization will complete
within their market.
Functional level strategy - CORRECT ANSWER Supports the business level strategy ,through
the functional business areas (marketing, HR, production,IS and finance)
Strategic business units - CORRECT ANSWER Distinct businesses set up as units within the
company to focus on specific products and markets as though they are separate from the company.
Characteristics of external environment - CORRECT ANSWER Ever changing nature.
Impact of external forces.
Overwhelming state of external variables
Subdivisions of external environment - CORRECT ANSWER Technological
Economic
, STRATEGIC MARKETING 2024-2025 Q&A
Social and cultural
Demographics
International
Legal/Government
External environment SWAT analysis - CORRECT ANSWER When analyzing the external
market, as you identify these external factors you should classify them into potential opportunities
or threats.
Environmental scanning - CORRECT ANSWER Predicting the future of the environment
Approaches to environmental scanning - CORRECT ANSWER Ad hoc/irregular
Periodical/regular
Continuous
Influential environmental forces - CORRECT ANSWER Opportunities and Threats in the market
Proactive response strategies - CORRECT ANSWER Formulated in anticipation of expected
environmental issues
Reactive response strategies - CORRECT ANSWER Do nothing.
Attack.
View alternatives.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACELEARNERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
