The Actions Taken During the Evaluation Phase of the Strategic

question 218

Multiple Choice

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

• A) starting the planning process anew.
• B) executing the marketing program.
• C) tracking sales and revenues and comparing with competitors.
• D) developing the budget by estimating revenues, expenses, and profits.
• E) exploiting positive deviations and correcting negative ones.

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Definitions:

Recessionary Gap

A situation in which the real GDP of an economy is lower than its potential GDP at the full employment level, indicating underutilized resources.

Actual Output

Actual output refers to the real GDP or the total value of all goods and services produced in an economy at a given time, contrasting with potential output.

Expected Price Level

The anticipation or forecast of future prices across an economy, affecting consumer and business decisions.

Long-Term Contracts

Agreements that extend over a significant period of time, often involving commitments to buy or sell goods or services or to provide employment.