1. Explain what is meant by a market-oriented mission statement and discuss the characteristics of effective mission statements.

2. Define strategic planning and briefly describe the four steps that lead managers and a firm through the strategic planning process. Discuss the role marketing plays in this process.

3. Explain why it is important for all departments of an organization—marketing, accounting, finance, operations management, human resources, and so on—to “think consumer.” Why is it important that even people who are not in marketing understand it?

4. Define positioning and explain how it is accomplished. Describe the positioning for the following brands: Wendy’s, the Chevy Volt, Amazon.com, Twitter, and Coca-Cola.

5. Define each of the four Ps. What insights might a firm gain by considering the four Cs rather than the four Ps?

6. What is marketing ROI? Why is it difficult to measure?