Each Phase of the Strategic Marketing Process Creates Its Own

question 173

Multiple Choice

Each phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the evaluation phase?

• A)performance reviews for key personnel
• B)corrective action memos,triggered by comparing results with plans,often using the firm's marketing metrics and displayed in marketing dashboards
• C)sales reports using the firm's marketing metrics and dashboards
• D)action memos that tell who is to do what by when
• E)marketing plans that define goals with the relevant metrics and the marketing mix strategies to achieve them

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Definitions:

Awareness

The state or level of consciousness where one is informed or cognizant of something, such as a brand, issue, or product.

Trial

A method used in marketing to allow potential customers to try a product or service for a limited time to assess its value or effectiveness.

Promotion-to-Sales Ratio

A metric analyzing the effectiveness of promotional activities by comparing the cost of promotion to the generated sales revenue.

Competitive Parity

A marketing strategy where a company matches the benefits or price points of its competitors to maintain or achieve competitive advantage.