SCENARIO 15-4

question 56

Multiple Choice

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Definitions:

Strategic Marketing Process

A method by which a firm strategically plans and implements marketing actions to reach its target markets and achieve competitive advantage.

Situation (SWOT) Analysis

A strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project, business venture, or an organization's overall strategic positioning.

Planning Phase

The initial stage in a project or strategy where objectives are defined and approaches are determined.

Diversification Analysis

The process of identifying and implementing new business opportunities outside a company's current products, services, or markets to reduce risk.