Marketing - Planning Chapter TEST

Front

What are the 4 Ps of the Marketing Mix?

Back

Product, Price, Place, Promotion

Front

What is a target market?

Back

A group identified for a specific marketing program

Front

What does it mean to have a company vision?

Back

A long-term goal and what you hope to achieve

Front

What is involved in strategic planning?

Back

Establishing an organizational mission and formulating goals

Front

What does the "M" in the acronym "MOST" stand for in strategic planning?

Back

Mission

Front

Which of the following best describes a company's mission? Options: Defines the company's goals, ethics, culture, and norms for decision making, Describes the company's financial plans, Outlines the company's marketing strategies, Lists the company's products and services

Back

Defines the company's goals, ethics, culture, and norms for decision making

Front

What is the main difference between a vision and a mission?

Back

Vision is about the future; mission is about the present

Front

In the context of business objectives, what does "R" stand for?

Back

Relevant

Front

What does the 'S' in SMART goals stand for?

Back

Specific

Front

Which of the following is a component of a SWOT analysis? Options: Strategies, Opportunities, Tactics, Goals

Back

Opportunities