Key Problems That Emerge in a Firm's Strategic Marketing Process

question 126

Multiple Choice

Key problems that emerge in a firm's strategic marketing process include: (1) bad news is filtered out as information goes up the line to give top management a very rosy picture; (2) plans are based on very poor assumptions about environmental forces; (3) __________; (4) too much time and effort may be spent on data collection and writing plans that are too complex to implement; and (5) line operating managers often feel no sense of ownership in implementing the plans.

• A)there is poor communication between the firm and its stakeholders
• B)there is a lack of leadership
• C)although management says they are behind the plans, they do not allocate resources to the degree necessary for success
• D)planners and their plans may have lost sight of their customers' needs
• E)plans can be thwarted by disgruntled employees, other departments, or competitors

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Definitions:

Legal Object

A legal object in contractual terms refers to the subject matter of the contract that must be lawful and not against public policy.

Public Policy

Principles and standards considered being in the collective interests of the community, often guiding lawmaking and government actions.

Illegal

Refers to actions or activities that violate statutory law, regulations, or common law.

Voidable

A term used to describe a contract or transaction that, while valid, may be annulled by one of the parties to the contract.