Adam Is Assisting in the Development of His Company's Marketing

question 106

Multiple Choice

Adam is assisting in the development of his company's marketing plan,and he has been assigned to assess the external and internal environments that affect the marketing operations.He will be looking at the company's history,products,and brands,as well as the competitive environment,consumer trends,and other marketplace trends that affect the product category.What type of analysis is Adam conducting?

• A)business analysis
• B)competitive analysis
• C)internal/external analysis
• D)situation analysis
• E)category analysis

---

Definitions:

Production Possibilities

A curve that represents the maximum combination of goods or services that can be produced in a given period with available resources.

Marginal Product

The extra output generated from increasing a particular input by one unit, while all other inputs remain unchanged.

Customers Served

The number of consumers who purchase or are provided with a product or service by a business within a specific period.

Diminishing Returns

A principle stating that if one factor of production is increased while others are held constant, the overall returns will eventually decrease after a certain point.