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Questions and Answers
What is the primary basis of a marketing plan?
What is the primary basis of a marketing plan?
- Market trends
- Customer needs
- Competitor analysis
- Corporate or strategic plan of the firm (correct)
What is the benchmark for measuring a firm's strengths and weaknesses?
What is the benchmark for measuring a firm's strengths and weaknesses?
- Industry trends
- Market size
- Internal capabilities
- Target competition (correct)
What should a firm prioritize in terms of competition?
What should a firm prioritize in terms of competition?
- Becoming a threat to competition
- Watching out for threats from competition (correct)
- Analyzing market trends
- Identifying customer needs
What is the effect of introducing a new product in an existing and fast-growing product category?
What is the effect of introducing a new product in an existing and fast-growing product category?
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What is the primary consideration for a firm's marketing strategy?
What is the primary consideration for a firm's marketing strategy?
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