The planning process begins at the corporate level with the first step being the development of strategic objectives.

Organizational resources include the capabilities of the firm’s production, marketing, finance, technology, and employees.

Planning often is classified on the basis of its scope or breadth.

The number of suppliers available to a manufacturer or retailer affects the bargaining power of buyers.

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

Adjustments in the mission statement of an organization reflect changing business environments and management philosophies.

As the senior vice-president of marketing, Naomi will be closely involved in her firm’s strategic planning.

The traditional view of marketing can be described as transaction-based marketing.

SWOT analysis refers to an examination of a firm that is limited to the variables of its stability, work ethic, organizational structure, and technological expertise.

Firms focus on acquiring new customers rather than retaining existing customers, as new customers account for nearly 70 percent of new business for a firm.