PEST analysis is used in what element of the marketing plan?

• Cost

• Competitor analysis

• Current market

• Marketing strategy

The 4 P's of the marketing mix are

• Product, Place, Price, Possession

• Product, Place, Price, Promotion

• Product, Place, Price, Prescription

• Product, Price, Promotion, Process

What is NOT an element of the marketing plan?

• Cost

• Market position

• Competitor analysis

• They are all elements of a marketing plan

What does PEST stand for?

• Political, Economic, Stability, Technological

• Political, Economic, Strengths, Technological

• Political, Economic, Social, Technological

• Political, Economic, Social, Threats

How a company will make customers aware of its products/services

• Product and Service Plan

• Industry Overview

• Growth Plan

• Marketing Plan

A brief account of the key points contained in a marketing plan

• Executive Summary

• Mission Statement

• Company Description

• Vision Statement

The specific aspirations or purpose of a company; the major goals it will try to reach.

• Vision Statement

• Mission Statement

• Company Description

• Executive Summary

What is the purpose of performing a SWOT Analysis?

• Identifies internal and external factors that may affect the business future performance.

• Evaluates whether the business venture is a good idea.

• Access a organization's performance

• Gives the management team a broader view on the potential opportunity

What does the acronym SWOT stands for?

• Strengths, Weaknesses, Obligations, Threats

• Strengths, Weak points, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Time

Identifying your target market makes it easier and more cost effective to ______.

• appeal to everyone

• push away unnecessary customers

• reach your potential customers

• sell your products to the masses