The Strategic Marketing Process

question 177

Multiple Choice

The strategic marketing process

• A)involves taking stock of where the firm or product has been recently,where it is now,and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
• B)is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.
• C)describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats.
• D)is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
• E)seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

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Definitions:

Margin Of Error

The range within which the true value lies in statistical sampling, with a certain level of confidence.

Confidence Intervals

A span of numbers that predicts the actual value of a population statistic within a certain confidence level.

Margin Of Error

An expression of the amount of random sampling error in a survey's results, defining a range within which the true population parameter is expected to lie.

T-Score

A standardized score that indicates how many standard deviations an element is from the mean of a distribution.