Marketing Strategy and Planning Quiz

Strategy is defined as the way in which a corporation endeavours to differentiate itself positively from its competitors, using its relative corporate strengths to better satisfy customer needs.

The four dimensions that define a business strategy are the product-market investment strategy, the customer value proposition, assets and competencies, and functional strategies and programs.

Some management tasks related to strategy mentioned in the text include strategic analysis, developing growth platforms, innovation, and creating SCAs (Sustainable Competitive Advantage).

<p>The two options for the product-market investment strategy mentioned in the text are to invest to grow (or enter a product market) and to invest only to maintain the existing position.</p> Signup and view all the answers

<p>SCA stands for Sustainable Competitive Advantage, and it represents a long-term advantage over competitors that allows the company to maintain superior performance over time.</p> Signup and view all the answers

<p>Creation of a unique and valuable position</p> Signup and view all the answers

<p>Where to compete</p> Signup and view all the answers

<p>Expanding the business into new areas</p> Signup and view all the answers

<p>To establish a long-term competitive edge</p> Signup and view all the answers

<p>They specify where and how to compete to win</p> Signup and view all the answers