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250) What 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: analysis; Step 2: planning; and Step 3: implementation 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? 251) The initial step in the strategic marketing process is to begin planning by conducting a A) business portfolio analysis. B) market-product analysis and setting goals. C) marketing program. D) situation (SWOT) analysis. E) diversification analysis. 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. 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. 254) Step 3 in the planning phase of the strategic marketing process consists of A) diversification analysis. B) the situation (SWOT) analysis. C) the marketing program. D) the market-product focus and goal setting. E) business portfolio analysis. 255) 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 is referred to as A) tactical planning. B) market planning. C) goal setting. D) environmental scanning. E) situation analysis. 57 Copyright 2019 Š McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

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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...