L2 | session 51 Customers & Competitors

Why is it important for businesses to identify and analyze competitors?

• • A) To find out what they had for lunch

• • B) To understand market trends

• • C) To become friends with competitors

• • D) To learn about weather forecasts

• What does SWOT analysis help businesses understand?

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• • A) The best movies to watch

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• • B) Their favorite colors

• • C) Their business strengths and weaknesses

• • D) Recipes for cooking

How is Porter's Five Forces framework similar to a game?

• • A) It's about playing video games

• • B) It helps businesses understand the rules of the business "game"

• • C) It teaches people to dance

• • D) It's about playing chess

What's the main goal of developing marketing strategies for businesses?

• • A) Planning a vacation

• • B) Making a cake

• • C) Getting noticed and loved by customers

• • D) Learning how to swim

Which framework outlines the steps for creating marketing strategies?

• • A) Recipe book

• • B) GPS navigation

• • C) Marketing strategy frameworks

• • D) Storybooks

What does the STP framework stand for in marketing strategy?

• • A) Sunny Tropical Paradise

• • B) Super Tasty Pizza

• • C) Segmentation, Targeting, Positioning

• • D) Strategic Training Program

What does the "4Ps Framework" involve in marketing?

• • A) Planning, Playing, Practicing, Perfecting

• • B) Painting, Pottery, Photography, Poetry

• • C) Product, Price, Promotion, Place

• • D) Singing, Dancing, Acting, Directing