What Are the Three Steps Involved in the PLANNING Phase

question 7

Multiple Choice

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

• A)situation (SWOT) analysis; market-product focus and goal setting; and marketing program development
• B)planning; implementation; and control
• C)set market and product goals; select target markets; find points of difference; and position the product
• D)identify industry trends; analyze competitors; assess own company; and research customer

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Definitions:

Quantity of Money

The total amount of money available in an economy at a specific time, including currency, coins, and balances in bank accounts.

Rate of Growth

The percentage change in a variable, such as economic output, population, or investment, over a specified period, indicating how quickly it is increasing or decreasing.

Quantity of Money

The total amount of money available in an economy, including all physical money and digital balances, governed by the central bank's monetary policy.

Low Levels of Inflation

A situation characterized by a slow rise in the general level of prices for goods and services over a period, indicating a stable economic environment.