Actions Taken During the Implementation Phase of the Strategic Marketing

question 175

Multiple Choice

actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources, (2) __________, (3) develop schedules,and (4) execute the marketing program.

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

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Definitions:

Marginal Revenue

The additional revenue that a firm receives from selling one extra unit of a product or service.

Demand Schedule

A Demand Schedule is a tabular representation of the relationship between the price of a good or service and the quantity demanded by consumers, underlining the law of demand.

Patents

Legal documents granting an inventor exclusive rights to produce, use, and sell an invention for a certain number of years.

Research And Development

A business or government activity that involves the study and creation of new products, services, or discoveries.