Marketing Chapter 2

The SWOT Analysis

• A. is used to devise the marketing plan,

• B. includes Strengths and Weaknesses in an Internal analysis

• C. includes Opportunities and Threats in an external analysis

• All of the above

An Executive Summary

• is written especially for the company's executive officers

• provides an overview of the marketing plan

• identifies the target market and describes the marketing mix

• details the plan's sales forecast

The PEST analysis

• is the scanning of the outside influences on an organization.

• does not add appreciation of opportunities and threats

• seldom considers events such as recession or job creation

• concentrates on the company's advertising promotion

Socio-cultural factors

• looks at changes in customer attitudes, lifestyles and opinions

• is the study of the factors that affect marketing strategies

• are based around the company's mission statement

• All of the above

Objectives should be

• realistic

• objective

• measureable

• all of the above

An effective marketing strategy

• identifies target mix and sets marketing mix

• should be focused on key points of difference

• offers a competitive advantage that makes companies successful

• All of the above

The process of classifying people who form a given market into even smaller groups is

• market segmentation

• a marketing concept

• demographics

• pychographics

An example of local geographic segmentation is

• a family-owned pizza restaurant in a small town

• a chain of three carpet stores in a large city

• a crawfish distribution company that concentrates sales in Louisiana

• a company selling the most popular smart phone uses the same ads around the world

The analysis of customer interests, personalities and values is termed

• Geographics

• Psychographics

• Demographics

• Biographics

Ajax Vacuum Company designed a 30 minute television spot to sell its new vacuum cleaner. It will air nationwide. This is an example of

• market segmentation

• mass marketing

• SWOT analysis

• implementation