Marketing Chapter 2

A snapshot of the environment in which a business has been operating over a specific period of time and evaluates both internal and external environments related to marketing and sales is a ____.

• marketing plan

• situation analysis

• competitive analysis

• PEST analysis

In a SWOT analysis, the external factors that provide chances for a company to increase profits are ____.

• strengths

• weaknesses

• opportunities

• threats

One method of conducting an environmental scan is to do a ____ analysis.

• PEST

• SWOT

• competitive

• situation

Which of the following factors is included in a PEST analysis?

• personal factors

• ecological factors

• social factors

• training factors

Which of the following items is generally found in the business description portion of a marketing plan?

• executive summary

• marketing goals

• product strategies

• vision statement

A company’s message to its customers about why the company exists is known as its ____.

• sales goals

• mission statement

• vision statement

• company goals

Which of the following topics is found in the marketing strategies section of a marketing plan?

• marketing mix

• sales goals

• mission statement

• budget

The specific activities a company performs to carry out agreed-upon marketing strategies are ____.

• sales goals

• price strategies

• marketing tactics

• marketing goals

Standards that can be measured, such as the click-through rate of an e-mail campaign, are known as ____.

• specific sales goals

• market potential

• best opportunities

• hard metrics

The goal of product positioning is to ____.

• convince customers that the product is better than the competition in some way

• determine the type of customers to whom the product will be marketed

• define the tactics to be used to market the product

• identify the best opportunities for making new and repeat sales