Podcast
Questions and Answers
Marketing myopia is defining a business in terms of ________ and services rather than customer benefits. Answer: goods
Marketing myopia is defining a business in terms of ________ and services rather than customer benefits. Answer: goods
The Boston Consulting Group model uses a portfolio matrix with stars, cash cows, problem child/question marks, and ________. Answer: dogs
The Boston Consulting Group model uses a portfolio matrix with stars, cash cows, problem child/question marks, and ________. Answer: dogs
The General Electric model uses market attractiveness and business position as a ________. Answer: matrix
The General Electric model uses market attractiveness and business position as a ________. Answer: matrix
Competitive advantage comes from cost, product/service differentiation, and ________. Answer: niche
Competitive advantage comes from cost, product/service differentiation, and ________. Answer: niche
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The marketing mix includes product, place, promotion, and ________. Answer: pricing
The marketing mix includes product, place, promotion, and ________. Answer: pricing
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Study Notes
- Strategic planning aligns objectives and resources with market opportunities.
- Large companies manage different businesses called strategic business units (SBUs).
- Ansoff's matrix has four strategies: market penetration, market development, product development, and diversification.
- The Boston Consulting Group model uses a portfolio matrix with stars, cash cows, problem child/question marks, and dogs.
- The General Electric model uses market attractiveness and business position as a matrix.
- Marketing myopia is defining a business in terms of goods and services rather than customer benefits.
- A situation analysis identifies internal strengths and weaknesses and external opportunities and threats.
- Competitive advantage comes from cost, product/service differentiation, and niche.
- Marketing objectives should be realistic, measurable, time-specific, and compared to a benchmark.
- The marketing mix includes product, place, promotion, and pricing.
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Description
Are you well-versed in the world of strategic planning and marketing? Test your knowledge with our quiz! From Ansoff's matrix to the marketing mix, this quiz covers a range of essential concepts and models. Sharpen your skills in identifying strengths, weaknesses, opportunities, and threats with a situation analysis. Discover how to develop marketing objectives that are realistic and measurable. If you're up for the challenge, take the quiz now and see how much you know about marketing and strategic planning!
