Strategic Marketing: Topic 2

Choose the correct strategic style: If the industry is unpredictable and can’t be changed…

• Adaptive

• Classical

• Shaping

• Visionary

Choose the correct strategic style: If the industry is predictable and can be changed…

• Adaptive

• Classical

• Shaping

• Visionary

Mission statements sometimes also include a vision statement.

• True

• False

The review of the external environment is broken down into two main parts. The remote environment includes:

• PEST/PESTLE

• Product Life Cycle

• Market Analysis

• Competitor Review

Abell suggests that market boundaries should be determined by choices along three dimensions:

• Technology, customer function and customer group

• Technology, innovation and marketing

• Customer function, sales group and technology

• Customer group, geographic boundaries and product substitutability

Situation Analysis moves in the following process:

• Remote > Near > Firm

• Near > Remote > Firm

• Firm > Remote > Near

• Remote > Firm > Near

Political factors can include:

• Regional trade and trading areas

• Materials

• Sociological

• Interest Rates

Legal factors can include:

• Patents

• Communications and information

• Levels of Regulation

• Taxation

Economic factors can include:

• Savings rates

• Cultural

• Taxation

• Demographic

Technological factors can include:

• Transportation

• Saving Rates

• Laws

• Waste & Recycling