What Are the Steps Involved in the Planning Phase of the Strategic

question 2

Multiple Choice

What are the 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; and assess own company
• E)identify where we have been; where we are headed; and where we are now

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Definitions:

Market Extent

Refers to the geographical or demographic reach of a market, influencing the potential customer base and the scope of economic activities.

Geographical Extent

The area over which a specific phenomenon, policy, or condition applies or has influence.

TV Commercials

Short visual advertisements broadcast on television to promote products, services, or ideas to a wide audience.

Oil Company

A business entity involved in the exploration, extraction, refining, transporting, and selling of petroleum and its products.