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

question 92

Multiple Choice

are the three steps involved in the planning phase of the strategic marketing process?

• A) Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting; and Step 3: the marketing program
• B) Step 1: planning; Step 2: implementation; and Step 3: evaluation
• C) Step 1: set market and product goals; Step 2: select target markets and find points of difference; and Step 3: position the product
• D) Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own organization
• E) Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it?

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Definitions:

Seasonal Indices

Factors used to adjust data to compensate for predictable fluctuations that occur regularly within a specific period, such as monthly or quarterly.

MAD

Acronym for Mutual Assured Destruction, a doctrine of military strategy and national security policy which posits that a full-scale use of nuclear weapons by two or more opposing sides would cause the complete annihilation of both the attacker and the defender.

Naive Forecast

A forecasting method that assumes future values will be the same as the most recent actual value, used as a baseline for more complex forecasts.

Seasonal Factors

Components or influences that cause regular and predictable changes or patterns in data or business activity corresponding to specific seasons or times of the year.