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WorksheetsMarketing Essentials - Chapter 2 Part 1 Vocab
Total questions: 18
Worksheet time: 9mins
Strengths and weaknesses are both _______ that affect business operations.
Internal factors
External factors
Marketing strategies
Financial resources
Part of a marketing plan that identifies target markets and sets marketing mix choices that focus on those markets is called _______.
Market segmentation
Environmental scan
SWOT analysis
Business strategy
Opportunities and threats are both _______ that affect business operation.
Internal factors
External factors
Marketing strategies
Financial resources
The acronym for strengths, weaknesses, opportunities, and threats is SWOT.
True
False
A formal, written document that directs a company's activities for a specific period of time is called a marketing plan.
True
False
External factors that may threaten one industry or company but provide an opportunity for others are known as political factors.
True
False
The internal analysis centers are these; the three Cs: company, customer, and competition.
True
False
A company's strengths and weaknesses when compared to its competitors, based on factors such as market share, core competencies, or reputation, is known as what?
SWOT analysis
Competitive position
Market segmentation
Product differentiation
The projection of probable, future sales in units or dollars is referred to as what?
Market analysis
Sales forecast
SWOT analysis
Competitive position
External factors that analyze customers and potential customers, covering changes in demographic factors such as age, income, occupation, and marital status, as well as psychographic factors such as lifestyle and attitudes, are known as what?
Executive summary
Socio-cultural factors
Economic factors
Environmental scan
Part of a company's external analysis that includes four types of factors: political, economic, socio-cultural, and technological, is often referred to by what acronym?
SWOT
PEST
BCG
CRM
External factors that involve government involvement in business operations, such as changes in laws and regulations, are known as what?
Economic factors
Environmental scan
Political factors
Socio-cultural factors
What is the study of internal and external factors that affect marketing strategies called?
Market Research
SWOT Analysis
Consumer Behavior
Product Development
What does the process of analyzing everything that can foster a business's success and make it fail involve?
Financial Auditing
SWOT Analysis
Risk Management
Strategic Planning
What part of a company's internal analysis involves understanding customers' buying habits?
Market Segmentation
Customer Satisfaction Survey
Consumer Behavior Analysis
SWOT Analysis
What provides a brief overview of the entire marketing plan and addresses each topic in the plan?
Executive Summary
SWOT Analysis
Marketing Strategy
Financial Plan
What part of a company's internal analysis reviews staff, financial situation, and production capabilities?
SWOT Analysis
Operational Analysis
Financial Review
Internal Audit
Which external factors are considered in a marketing plan?
Product Features
Internal Policies
Unemployment Rate
Brand Loyalty
