The Information Needed in Market Product Focus and Goal Setting

question 109

Multiple Choice

The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: 1) market potential studies, 2) market-product grids with
Targets, and 3) ________.

• A)trends for industry and competitors
• B)detailed plans to execute the marketing program
• C)positioning studies
• D)marketing mix actions

---

Definitions:

Continuous Review

An inventory management approach where stock levels are constantly monitored and replenished in real-time, often automated.

Lead Time

is the total time required to manufacture an order and deliver it to the customer, encompassing all phases from order placement to final delivery.

Demand Forecasts

Predictions about future customer demand for a product or service, based on historical data, market trends, and other influencing factors.

Safety Inventory

Stock kept in reserve to protect against uncertainties in demand or supply, ensuring customer demand can be met without delays.