JCL Overview: Strategic and Tactical Marketing
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Questions and Answers

What is the purpose of the strategic marketing plan?

  • To execute the strategy near term
  • To assess the market within a specific industry
  • To attain the company’s objectives (correct)
  • To develop marketing strategies and techniques
  • What does the tactical marketing plan focus on?

  • Taking action near term to execute the strategy (correct)
  • Understanding the environment and industry
  • Assessing the market within a specific industry
  • Determining goals and developing marketing strategies
  • What does the marketing planning process allow to determine?

  • Key factors for success and SWOT analysis
  • Specific, measurable, attainable goals
  • Quantitative data, prices, consumer, revenue
  • Goals and develop marketing strategies (correct)
  • What does marketing analysis involve?

    <p>Thorough assessment of a market within a specific industry</p> Signup and view all the answers

    What is included in the macro-environment of the Marketing Environment?

    <p>PESTEL Trends, Industry Analysis, Key Factors for Success and SWOT</p> Signup and view all the answers

    What does Unrelated Diversification mean?

    <p>Adding new product/services that are dissimilar to existing ones</p> Signup and view all the answers

    What is the process of turning marketing strategy into a real-life action or situation?

    <p>Marketing implementation</p> Signup and view all the answers

    Which strategy involves identifying and developing new market segments for current products?

    <p>Market development</p> Signup and view all the answers

    What is the measure of how much a product/service is being used by customers compared to the total estimated market for that product/service?

    <p>Market penetration</p> Signup and view all the answers

    In which type of integration does a company move further in the direction of controlling the distribution?

    <p>Horizontal integration</p> Signup and view all the answers

    What is the process of adding new products/services that are similar or complementary to existing products?

    <p>Related diversification</p> Signup and view all the answers

    Which element of implementation refers to hard or soft assets that can help in getting things done?

    <p>Resources</p> Signup and view all the answers

    What is a growth strategy that involves acquiring/merging with businesses that supply raw materials needed in production?

    <p>Background integration</p> Signup and view all the answers

    What is the process of closing a business and distributing its assets to claimants?

    <p>Liquidation</p> Signup and view all the answers

    Which element of implementation involves works that are routinized in order to facilitate and not to inhibit things from getting done?

    <p>Processes</p> Signup and view all the answers

    What is the main purpose of the strategic and tactical plan?

    <p>To attain the company’s objectives</p> Signup and view all the answers

    What does the marketing planning process allow to determine?

    <p>Goals and marketing strategies to achieve them</p> Signup and view all the answers

    What does Unrelated Diversification mean?

    <p>Adding new products/services that are unrelated to existing ones</p> Signup and view all the answers

    What is included in the macro-environment of the Marketing Environment?

    <p>PESTEL Trends, Industry Analysis, Key Factors for Success, SWOT</p> Signup and view all the answers

    What is the measure of how much a product/service is being used by customers compared to the total estimated market for that product/service?

    <p>Market penetration rate</p> Signup and view all the answers

    Which type of integration involves a company moving further in the direction of controlling the distribution?

    <p>Forward integration</p> Signup and view all the answers

    Which type of integration involves the acquisition of a business operating at the same level of the value chain?

    <p>Horizontal Integration</p> Signup and view all the answers

    What is the measure of how much a product/service is being used by customers compared to the total estimated market for that product/service?

    <p>Market Penetration</p> Signup and view all the answers

    What is the process of strategizing, brainstorming, planning, building, and releasing a product to market, and then measuring its success?

    <p>Product Development</p> Signup and view all the answers

    What is the process where the company management/executive analyze and assess their marketing activities and programs?

    <p>Market Control</p> Signup and view all the answers

    What does the tactical marketing plan focus on?

    <p>Setting pricing objectives and pricing strategies</p> Signup and view all the answers

    Which strategy involves adding new products/services that are similar or complementary to existing products?

    <p>Related Diversification</p> Signup and view all the answers

    What does 'Retrenchment' involve?

    <p>(Another way of) terminating the employees</p> Signup and view all the answers

    Which element of implementation refers to hard or soft assets that can help in getting things done?

    <p>(Hard assets) or soft assets that can help in getting things done</p> Signup and view all the answers

    What does Unrelated Diversification mean?

    <p>Expanding into industries that are distinct from its current operations or activities.</p> Signup and view all the answers

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