_____________ Should Be Undertaken on a Regular, Annual, Basis and Be

question 16

Multiple Choice

_____________ should be undertaken on a regular, annual, basis and be regarded as a positive activity that can feed into marketing strategy and should not be instigated in response to a crisis.

• A) PESTLE analysis
• B) Product portfolios analysis
• C) Marketing audit
• D) Environmental scanning

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Definitions:

Marginal Revenue

Additional earnings received from the sale of one more unit of a product or service.

Marginal Cost

The financial commitment for manufacturing an additional unit of a product or service.

Profits

The financial gain obtained when the revenues earned from business activities exceed the expenses, costs, and taxes needed to sustain those activities.

Unregulated Monopoly

A market structure where a single company or entity dominates the market without any governmental restrictions or oversight.