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Describe the Relevance of Analyzing the Internal and External Environment

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Describe the relevance of analyzing the internal and external environment to the strategic management process.


Definitions:

Sales Promotion

Marketing activities—other than personal selling, advertising, and public relations—that stimulate consumer purchasing and dealer effectiveness, such as coupons, samples, and contests.

Coupons

Vouchers or codes offering a discount or rebate on a particular product or service.

Satisfied First-Time Triers

Individuals who have a positive experience with a product or service on their first use, leading to potential loyalty.

Push Strategy

A marketing approach where a product is promoted by pushing it through distribution channels to the end consumers.

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