PoM chapter 2

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

• market segmentation

• a marketing concept

• demographics

• pychographics

Objectives should be

• realistic

• specific

• measureable

• 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 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

Putting a marketing plan into action and managing it.

• executive summary
• implementation
• business objectives
• marketing startegy

__________ are internal factors that place a company at a disadvantage relative to competitors.

• political factors

• weaknesses

• economic factors

• threats

What are the four names of the BCG Matrix?

• star, goat, cash cow, exclamation point

• dog, cash cow, question mark, star

• dog, cat, cow, heart

Things within a business that managers can influence and control (as it relates to SWOT)

• Employee Performance

• Sales Revenue

• External Factors

• Internal Factors

Global expansion in a company is an example of a(n)

• Strength

• Weakness

• Opportunity

• Threat

Before a business can set a price for the products it is selling it must consider which of the following:

• What it cost them to make or purchase the product.

• Any additional expenses incurred in obtaining the product

• The amount of profit it wants to make.

• All the above.