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Marketing Strategy Session 7 Quiz

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Questions and Answers

What is the purpose of a brand vision?

To inspire and guide the brand's direction (correct)

To focus on failure

To describe short term goals

To discourage resource allocation

Why is it important for a brand vision to be ambitious?

To discourage growth

To prevent alignment within the organization

To push the brand to higher levels of success (correct)

To maintain the status quo

What does it mean for a brand vision to be 'quantifiable'?

It can be summarized in just one sentence for easy evaluation (correct)

It must be based on emotions only

It cannot be measured

It should be vague and ambiguous

Which of the following is NOT a key element of strategy as mentioned in the text?

Being detailed Signup and view all the answers

What is the significance of setting SMART objectives for a brand vision?

SMART objectives provide clarity and focus on achievable targets Signup and view all the answers

In the context of the text, what does it mean for a brand vision to be 'inspiring'?

It motivates and energizes stakeholders towards a common goal Signup and view all the answers

What is a key component of the business plan structure mentioned in the text?

Brand vision Signup and view all the answers

How does the text suggest increasing presence in the 'impulse' channel?

Entering new occasions with different formats Signup and view all the answers

What is a strategic priority related to premiumization mentioned in the text?

Innovating to generate premium variants Signup and view all the answers

What does the term 'Recruitment' refer to in the context of consumer goals?

Establishing a unique differentiated icon Signup and view all the answers

Which concept is emphasized by the 'GROWTH DRIVERS' section in the text?

'Holistic' approach to growth drivers Signup and view all the answers

What is the purpose of a Business Ambition in a business plan?

To quantify key objectives like Volume, Sales Value, and Profit Signup and view all the answers

How does Consumer Ambition influence a business strategy?

By changing consumer behavior to achieve sales and profit goals Signup and view all the answers

In the context of a Business Plan, what does the term 'KPI´s' refer to?

Key Performance Indicators that measure success Signup and view all the answers

What is the primary function of SMART objectives in a business context?

To set specific, measurable, achievable, relevant, and time-bound goals Signup and view all the answers

How does a change in consumer behavior impact business objectives like sales and profit?

By aligning with the needs of consumers to achieve sales and profit goals Signup and view all the answers