Developing strategy and plans

What is the purpose of a marketing plan?

• To outline the company's financial goals

• To provide a roadmap for achieving marketing objectives

• To list all employees' responsibilities

• To analyze competitor pricing strategies

What is the purpose of conducting a competitor analysis in marketing strategy development?

• To identify market segments

• To determine pricing strategies

• To assess strengths and weaknesses relative to competitors

• To develop promotional campaigns

What is the primary goal of the value delivery process in marketing?

• Maximizing shareholder profits

• Reducing operational costs

• Creating value for customers

• Expanding market reach

How can a company identify its core competencies?

• By outsourcing all operations to third-party vendors

• By benchmarking against competitors

• By conducting a SWOT analysis

• By evaluating its unique strengths and capabilities relative to competitors

ow can a company ensure effective resource allocation across SBUs?

• By allocating equal resources to each SBU regardless of performance

• By conducting regular performance evaluations and adjusting allocations accordingly

• By allocating resources based solely on senior management preferences

• By outsourcing resource allocation decisions to third-party consultants

What is the primary advantage of diversification growth?

• Increased focus on core competencies

• Reduced risk through portfolio diversification

• Lower costs of production

• Higher profit margins

Which of the following is an example of a threat in SWOT analysis?

• Technological advancements

• Growing market demand

• New competitors entering the market

• Strong brand reputation

What is the primary goal of the focus strategy?

• To achieve cost leadership

• To differentiate products or services

• To target a broad market segment

• To serve a specific niche or narrow market segment effectively

Differentiation strategy involves:

• Offering products or services at the lowest cost in the industry

• Focusing on a narrow market segment with specialized offerings

• Targeting a broad market with unique products or services

• Emphasizing cost minimization and efficiency

What is the primary goal of corporate planning?

• Ensuring long-term organizational success

• Increasing short-term profits

• Minimizing employee turnover

• Maximizing shareholder wealth