Strategic Marketing Process

question 233

Multiple Choice

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 (SBUs) 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:

Self-concept

An individual's perception and evaluation of themselves, encompassing beliefs, feelings, and thoughts about one's abilities, appearance, and values.

Self-esteem

Self-esteem is an individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states such as triumph, despair, pride, and shame.

Parentification

A process where a child is forced to assume adult roles and responsibilities within the family, often due to the incapacity or absence of parents.

Emerging Adulthood

The period of life between the ages of 18 and 25. Emerging adulthood is now widely thought of as a distinct developmental stage.