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256) A situation analysis refers to A) 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) an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment. C) the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. D) a technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were separate investments. E) the process where a firm searches for growth opportunities from among current and new markets as well as current and new products. Answer: A Explanation: Key term definition—situation analysis. Difficulty: 1 Easy Topic: The Strategic Marketing Process Learning Objective: 02-05 Explain the three steps of the planning phase of the strategic marketing process. Bloom's: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation 257) A situation analysis requires a firm to consider the external forces and trends that affect it. Some of these may be favorable to the organization while others may be unfavorable. Which of the following is an example of an external force? A) The firm buys its own fleet of trucks, so it no longer needs to hire a trucking company for distribution. B) A hiring freeze is put into place. Although no one is fired, no one can be hired. C) A goal is set to close the gap between production costs and profits. D) A city government bans cigarette smoking inside all restaurants and bars in the city limits. E) Shareholders are rewarded with a sizable dividend check. Answer: D Explanation: Regulation from outside the organization would be an external force, part of the regulatory environmental force that is analyzed during an environmental scan (see Chapter 3). Others are internal factors an organization considers. Difficulty: 3 Hard Topic: The Strategic Marketing Process Learning Objective: 02-05 Explain the three steps of the planning phase of the strategic marketing process. Bloom's: Apply AACSB: Knowledge Application 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...