The Actions Taken During Market Product Focus and Goal Setting

question 130

Multiple Choice

The actions taken during market product focus and goal setting, Step 2 of the planning phase, include: 1) _______, 2) select target markets, 3) find points of difference, and
4) position the product.

• A)research customers
• B)develop the program's marketing mix
• C)identify industry trends
• D)set market and product goals

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Definitions:

Related Diversification

A business growth strategy in which a company expands its operations into areas that are similar to its existing lines of business.

Acquiring New Businesses

involves the process of a company purchasing or merging with other companies to expand its operations or enter new markets.

Multidomestic Strategy

A strategy that involves a firm customizing its products and marketing strategies to accommodate specific needs and preferences in different national markets.

Customize Products

Tailoring products or services to meet specific customer needs or preferences.