MGMT 105 - Chapter 3 Quiz with correct
answers 100% 2026
Which of the following terms refers to an ongoing process of making decisions that guides the
firm both in the short term and for the long term?
A. Business planning
B. Functional planning
C. Operational planning
D. Strategic planning
E. Marketing planning - Correct AnswerA. Business planning
________ is the execution of the elements of a plan based on goals and objectives to bring
about a desired future.
A. Functional planning
B. Operational planning
C. Strategy
D. Business planning
E. Marketing planning - Correct AnswerC. Strategy
Which of the following is the document that describes the marketing environment, outlines the
marketing objectives and strategy, and identifies how the company will implement and control
the strategies embedded in the plan?
A. Functional plan
B. Operational plan
C. Marketing plan
, D. Business plan
E. Strategic plan - Correct AnswerC. Marketing plan
Which of the following refers to a managerial decision process that matches an organization's
resources and capabilities to its market opportunities for long-term growth and survival?
A. Business planning
B. Functional planning
C. Strategic business units (SBUs)
D. Operational planning
E. Strategic planning - Correct AnswerE. Strategic planning
Which of the following refers to individual units within a firm that operate like separate
businesses, with each having its own mission, business objectives, resources, managers, and
competitors?
A. Strategic plan
B. Strategic business units (SBUs)
C. Business portfolio
D. Diversification strategies
E. Market development strategies - Correct AnswerB. Strategic business units (SBUs)
Assume you are the director of marketing for a major consumer products firm. You are directly
involved in the planning process. Because of your role (job title) in the organization, when it
comes to business planning, which level of planning would MOST describe your activities?
A. Strategic business units (SBUs)
answers 100% 2026
Which of the following terms refers to an ongoing process of making decisions that guides the
firm both in the short term and for the long term?
A. Business planning
B. Functional planning
C. Operational planning
D. Strategic planning
E. Marketing planning - Correct AnswerA. Business planning
________ is the execution of the elements of a plan based on goals and objectives to bring
about a desired future.
A. Functional planning
B. Operational planning
C. Strategy
D. Business planning
E. Marketing planning - Correct AnswerC. Strategy
Which of the following is the document that describes the marketing environment, outlines the
marketing objectives and strategy, and identifies how the company will implement and control
the strategies embedded in the plan?
A. Functional plan
B. Operational plan
C. Marketing plan
, D. Business plan
E. Strategic plan - Correct AnswerC. Marketing plan
Which of the following refers to a managerial decision process that matches an organization's
resources and capabilities to its market opportunities for long-term growth and survival?
A. Business planning
B. Functional planning
C. Strategic business units (SBUs)
D. Operational planning
E. Strategic planning - Correct AnswerE. Strategic planning
Which of the following refers to individual units within a firm that operate like separate
businesses, with each having its own mission, business objectives, resources, managers, and
competitors?
A. Strategic plan
B. Strategic business units (SBUs)
C. Business portfolio
D. Diversification strategies
E. Market development strategies - Correct AnswerB. Strategic business units (SBUs)
Assume you are the director of marketing for a major consumer products firm. You are directly
involved in the planning process. Because of your role (job title) in the organization, when it
comes to business planning, which level of planning would MOST describe your activities?
A. Strategic business units (SBUs)
