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Marketing Management: Tools and Techniques

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Marketing Management: Tools and Techniques

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Questions and Answers

What do marketers focus on in competitor analysis using SWOT analysis?

Competitor's relative competitive strengths and weaknesses (correct)

Competitor's customer service quality

Competitor's advertising expenditure

Competitor's employee satisfaction scores

Which tools are employed by marketing management to analyze the industry context?

Porter's five forces and SWOT analysis (correct)

PESTLE analysis and scenario planning

Value chain analysis and balanced scorecard

Ansoff matrix and BCG growth-share matrix

What is the focus of marketing management?

Implementation of operational strategies

Practical application of marketing orientation, techniques, and methods (correct)

Application of financial techniques

Utilization of human resource management

What activities does marketing management often imply?

Market research and marketing research Signup and view all the answers

Which aspects of competitors do marketing managers examine in competitor analysis?

Competitor's cost structure and product differentiation Signup and view all the answers

What does marketing management employ to perform a primary analysis?

Variety of research methods such as surveys and interviews Signup and view all the answers

What is the purpose of a brand audit?

To examine the effectiveness of the current brand strategy Signup and view all the answers

What are some examples of qualitative marketing research mentioned in the text?

Ethnographic observation Signup and view all the answers

In a brand audit, what does the examination of external opportunities and threats aim to identify?

Resource strengths and weaknesses Signup and view all the answers

What does a brand audit seek to determine about a business's financial strength?

If the company's margin of profit is improving compared to established competitors Signup and view all the answers

What is one of the goals of a brand audit?

To uncover the business's resource strengths, deficiencies, and best market opportunities Signup and view all the answers

What does a brand audit focus on?

Competitive strengths and resource capabilities Signup and view all the answers

What is part of a brand audit's examination of a business's image and reputation with its customers?

Determining if the business is perceived as an industry leader in technology Signup and view all the answers

What element does a brand audit establish in order to improve the brand position within the industry?

Strategic elements for improving brand position Signup and view all the answers

What does a brand audit examine about a business's share of the market?

If it is increasing, decreasing, or stable Signup and view all the answers

What does a brand audit investigate about a business's competitive position in comparison to its competitors?

If it determines if the company's margin of profit is improving or decreasing Signup and view all the answers