EMS MIDTERM EXAM

Market Opportunity Analysis; A tool to identify and assess the attractiveness of business opportunity

• True

• False

A basic difference between strategic

marketing and tactical marketing is that strategic marketing is the planning of how things will be whereas Tactical marketing is the tactics you will implement to make things happen as per strategy.

• True

• False

Macro environment analysis used as a tool by companies to track the environment they’re operating in or are planning to launch a new project/product/service, etc.

• True

• False

It is also known as the task environment.

• Macro environment analysis

• PEST analysis

• Micro environment analysis

Analyze and identify potential opportunities and hazards that might impact the business

• Macro environment analysis

• PEST analysis

• Micro environment analysis

It seeks to establish a clear and concerted direction for all marketing activities of an organization.

• Strategic Marketing Process

• Tactical Marketing Process

It determines the means or tactics to implement the strategies.

• Strategic Marketing Process

• Tactical Marketing Process

About knowing your customers needs, while also caring about the well-being of society and the environment

• Product concept

• Selling concept

• Marketing concept

• Societal marketing concept

Good or service that a company offers to customers

• Product

• Price

• Place

• Promotion

Needs to be based on what your customers are prepared to pay

• Product

• Price

• Place

• Promotion