Suppose 3M Company reported the following financial data for 2017 and 2016 (in millions). 3M COMPANY Balance Sheet (partial) 2017 2016 Current assets Cash and cash equivalents $2,955 $1,805 Accounts receivable, net 3,005 3,105 Inventories 2,505 2,805 Other current assets 1,655 1,455 Total current assets $10,120 $9,170 Current liabilities $4,352 $5,135 Calculate the current ratio for 3M for 2017 and 2016

This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.