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BUAD 332 Exam 1 Business Logistics and Supply
Chain Management Test Questions and Answers
2025/2026 Updated Version
Suppliers - ANSWER-provide resources needed to
produce goods and services; important link in the "value
delivery system"; enlightened marketers consider
suppliers to be partners
Marketing intermediaries - ANSWER-help the company
promote, sell, and distribute its goods to final buyers
Customer Value Strategy and Performance - ANSWER-
customer value strategy and delivery --> customer
satisfaction --> customer acquisition and customer
retention --> bottom line financial performance
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Strategic Planning - ANSWER-the process of developing
and maintaining a strategic fit between the organization's
goals and capabilities and its changing market
opportunities
Steps in Strategic Planning - ANSWER-1. defining the
company mission
2. setting company objectives and goals
3. designing the business portfolio
4. planning marketing and other functional strategies
Questions the mission statement should answer: -
ANSWER-1. what is our business?
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2. who is our customer?
3. what do our customers value?
4. what should our business be?
Firm's Mission - ANSWER-should be translated into
supporting objectives for each level of management
Business Portfolio - ANSWER-the collection and products
that make up a company
Strategic Business Unit - ANSWER-a unit of a company
that has a separate mission and objectives and that can
be planned independently from other company
BUAD 332 Exam 1 Business Logistics and Supply
Chain Management Test Questions and Answers
2025/2026 Updated Version
Suppliers - ANSWER-provide resources needed to
produce goods and services; important link in the "value
delivery system"; enlightened marketers consider
suppliers to be partners
Marketing intermediaries - ANSWER-help the company
promote, sell, and distribute its goods to final buyers
Customer Value Strategy and Performance - ANSWER-
customer value strategy and delivery --> customer
satisfaction --> customer acquisition and customer
retention --> bottom line financial performance
,2|Page
Strategic Planning - ANSWER-the process of developing
and maintaining a strategic fit between the organization's
goals and capabilities and its changing market
opportunities
Steps in Strategic Planning - ANSWER-1. defining the
company mission
2. setting company objectives and goals
3. designing the business portfolio
4. planning marketing and other functional strategies
Questions the mission statement should answer: -
ANSWER-1. what is our business?
, 3|Page
2. who is our customer?
3. what do our customers value?
4. what should our business be?
Firm's Mission - ANSWER-should be translated into
supporting objectives for each level of management
Business Portfolio - ANSWER-the collection and products
that make up a company
Strategic Business Unit - ANSWER-a unit of a company
that has a separate mission and objectives and that can
be planned independently from other company
