The Strategic Marketing Process

question 177

Multiple Choice

The strategic marketing process

• A)involves taking stock of where the firm or product has been recently,where it is now,and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
• B)is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.
• C)describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats.
• D)is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
• E)seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

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Definitions:

Induced Consumption

Describes consumer spending that increases when income increases and decreases when income decreases, directly related to the level of disposable income.

Average Propensity

The proportion of total income or revenue that is spent on a certain category of expenditures or savings.

Save

The process of setting aside a portion of current income for future use or investment.

Obtrusively Expensive

Describing an item or service whose price is excessively high, attracting attention in a way that may seem offensive or overt.