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252) Step 1 in the planning phase of the strategic marketing process involves A) establishing the budget. B) developing the marketing program. C) setting goals. D) auditing the marketing plan. E) conducting a situation (SWOT) analysis. Answer: E Explanation: The planning phase of the strategic marketing process has three steps. Step 1 is the situation (SWOT) analysis. Step 2 is market-product focus and goal setting. Step 3 is the marketing program. The implementation and evaluation phases follow the planning phase of the strategic marketing process. See Figure 2-6. Difficulty: 2 Medium Topic: The Strategic Marketing Process Learning Objective: 02-05 Explain the three steps of the planning phase of the strategic marketing process. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation 253) Step 2 in the planning phase of the strategic marketing process consists of A) the situation (SWOT) analysis. B) market-product focus and goal setting. C) the marketing program. D) business portfolio analysis. E) diversification analysis. Answer: B Explanation: The planning phase of the strategic marketing process has three steps. Step 1 is the situation (SWOT) analysis. Step 2 is market-product focus and goal setting. Step 3 is the marketing program. The implementation and evaluation phases follow the planning phase of the strategic marketing process. See Figure 2-6. Difficulty: 2 Medium Topic: The Strategic Marketing Process Learning Objective: 02-05 Explain the three steps of the planning phase of the strategic marketing process. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation

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Test Bank for Marketing 14th Kerin  

Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...

Test Bank for Marketing 14th Kerin  

Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...