Situation Analysis Refers to

question 219

Multiple Choice

Situation analysis refers to

• A)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)an appraisal of an organization's internal and external strengths and weaknesses and its internal and external opportunities and threats.
• C)a regularly scheduled internal audit that takes place during a specified promotional campaign to ensure that marketing actions are successfully taking place.
• D)a careful comparison of a company's performance relative to its closest competitors in terms of both profits and market share.
• E)an in-depth analysis of how a specific department is spending its money relative to the incremental revenues those actions are generating.

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Definitions:

Routine Activity

A concept from criminology that suggests violence and property crimes occur when there is a motivated offender, a suitable target, and a lack of capable guardianship.

Cost-effectiveness

A measure that compares the relative costs and outcomes of different courses of action or decisions.

Reliance on Technology

The dependence of individuals, organizations, or societies on technology for operations, communication, and efficiency.

Cost-benefit Analysis

Cost-benefit analysis is a process used to evaluate the total anticipated cost of a project compared to the benefits in order to determine the best course of action.