What Are the Three Steps Involved in the Planning Phase

question 331

Multiple Choice

What are the three steps involved in the planning phase of the strategic marketing process?

• A)Step 1: situation (SWOT)analysis;Step 2: market-product focus and goal setting;and Step 3: the marketing program
• B)Step 1: analysis;Step 2: planning;and Step 3: implementation
• C)Step 1: set market and product goals;Step 2: select target markets and find points of difference;and Step 3: position the product
• D)Step 1: identify industry trends;Step 2: analyze competitors;and Step 3: assess own organization
• E)Step 1: Why do we exist?;Step 2: What will we do?;and Step 3: How will we do it?

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Definitions:

Real GDP

The measure of a country's economic output adjusted for price changes (inflation or deflation), reflecting the real quantity of goods and services produced.

Military Spending

Financial allocation by a government for the maintenance and operation of armed forces, including expenses related to salaries, equipment, training, and facilities.

Automatic Stabilizer

Economic policies and programs designed to offset fluctuations in a nation's economic activity without additional government action, such as progressive tax rates and unemployment benefits.

Government Purchases

Expenditures by government bodies on goods and services that directly absorb resources or services and are part of government consumption expenditure and gross investment.