10 Questions
What does retrenchment involve?
Reversing declining sales and profits through cost or asset reduction
In the context of divestiture, what does it involve?
Selling off a division or part of an organization
What is liquidation about?
Selling all of a company’s assets for their tangible worth
What is the purpose of strategy evaluation and control?
To identify deviations and necessary adjustments
What is the main focus of the tactical marketing process?
Determining means or tactics to implement strategies
In the given example, what is the firm's objective regarding sales?
To increase sales by 10%
What does market penetration involve as a strategy?
Increasing market share through existing products in existing markets
Why is periodic monitoring and evaluation needed after strategy development?
To identify deviations and necessary adjustments
What might be the outcome if a company fails to implement its strategies successfully?
Declining sales and profits
What would be a consequence of not engaging in retrenchment when experiencing declining sales and profits?
Bankruptcy due to continued losses
Learn about the strategic and tactical marketing processes, as well as the internal and external factors that influence the success of marketing activities. Explore how to assess marketing opportunities and analyze consumer behavior.
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