The Actions Taken During the Implementation Phase of the Strategic

question 170

Multiple Choice

The actions taken during the implementation phase of the strategic marketing process include: (1) __________; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4) execute the marketing program.

• A)obtain resources
• B)select target markets
• C)position the product
• D)find points of difference
• E)develop the budget by estimating revenues, expenses, and profits

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Definitions:

Total Revenue

The total amount of money received by a company from sales of its products or services before any expenses are subtracted.

Total Output

The total quantity of goods or services produced by a firm or economy.

Perfect Competition

A market structure characterized by a large number of small firms, a homogenous product, perfect information, and easy entry and exit, leading to firms being price takers.

Marginal Decision Rule

A principle stating that an action should be taken if, and only if, the marginal benefit of the action exceeds its marginal cost.