Organizational inertia refers to A firm’s growing momentum in an industry A firm’s commitment to stay with their current strategy and resource development, although these are not encouraged A firm’s commitment to make major changes quickly to adapt to changing environments A firm’s ability to revise their strategic planning regardless of their progress

Competitive advantage can be defined as: Group of answer choices A firm’s ability to establish market leadership. A firm’s ability to grow faster than its competitors. A firm’s potential to earn a rate of profit that is persistently higher than its rivals. A firm’s potential for launching innovative new products.

When a marketing department plans a new strategy, they typically will _____. Group of answer choices   create a plan in unity with finance, sales and the company’s overall strategy rely on the sale team to direct them develop the plan and then share it with the rest of the company tie the strategy to the company’s overall strategy

Due to Covid-19 many organizations worked hard to continue serving the same clients by offering the same product or service, maintaining market share, and sustaining the organization's current business operations, these organizations followed a ________ strategy.   stability   turnaround   renewal   growth   retrenchment

181. In a five-year study, researchers Nohria, Joyce and Roberson conducted in-depth analysis of 160 companies and more than 200 management tools and techniques, such as customer relationship management and use of an intranet. What were their findings? That is, according to the researchers, how would a company exploit its competitive advantage to achieve superior business performance? 182. What is a sales response function? 183. List the three phases of the strategic marketing process and the output report for each. 184. List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps. 185. List and explain two types of marketing plans. Ans: Long-range marketing plans cover marketing activities from two to five years into the future. Such plans are often directed at top-level executives and the board of directors. 186. Describe Porter’s framework and the four resulting generic business strategies. 187.…