Scenario 8-3 After Working as an Account Executive in an Advertising Agency

question 79

Multiple Choice

Scenario 8-3
After working as an account executive in an advertising agency for 20 years, you've decided you want to own your own business. You buy Springfield Hardware, a neighborhood hardware store, from a man who has owned and run the business for the past 52 years. He sells you the store and its entire inventory, but with one warning-he wasn't much on paperwork, so there won't be a lot of records to be found. You buy the store and begin to create your ad plan.
-(Scenario 8-3) Due to the lack of records,you have no way of knowing what Springfield Hardware has gone through over the years.You can only guess about the hardware needs of the local population,and the store's target market and customer base.This will be a major hindrance in writing the       sections of your situation analysis.

• A) overview and executive summary 
• B) industry analysis and historical context 
• C) strategy and execution 
• D) historical context and market analysis

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Definitions:

Marketing Campaign

A coordinated series of steps that include promotion of a product through different mediums using various strategies and channels.

NAFTA

The North American Free Trade Agreement, a treaty among Canada, Mexico, and the United States to remove trade barriers.

U.S. Farmers

Describes agricultural producers based in the United States who cultivate crops and raise livestock for consumption and trade.

Trade Restrictions

Measures implemented by governments to control the flow of goods and services across borders, including tariffs, quotas, and embargoes.