Chapter 2 Marketing Plan

A snapshot of the environment in which a business has been operating over a specific period of time, which evaluates both internal and external environments related to marketing and sales, is a ____.

• Marketing plan

• Situation Analysis

• Market segmentation

• Market size

External factors, such as the economy, that can potentially jeopardize a company's growth or ability to make a profit are called?

• Strengths

• Weaknesses

• Opportunities

• Threats

What are the internal factors that place a company at a disadvantage relative to competitors?

• Strengths

• Weaknesses

• Opportunities

• Threats

External factors that provide opportunities for a company to increase profits.

• Threats

• Strengths

• Opportunities

• Weaknesses

Internal factors that give a company a competitive advantage

• Threats

• Opportunities

• Weaknesses

• Strengths

An environmental scan is an evaluation of the political, economic, social, and technological factors in a certain market or geographic region that may impact the success of a business.

• SWOT Analysis

• Situation Analysis

• PEST Analysis

• Marketing Analysis

The goal of product positioning is to ____.

• Convince customers that the product is better than the competition in some way

• Determine the type of customers to whom the product will be marketed

• Define the tactics to be used to market the product

• Identify the best opportunities for making new and repeat sales

Standards that can be measured, such as the click-through rate of an email campaign, are known as ____.

• Specific sales goals

• Market potential

• Best opportunities

• Hard metrics

The specific activities a company performs to carry out agreed-upon marketing strategies are:

• Marketing tactics

• Marketing goals

• Market share

• Mission statement

Decisions about the ________ are the basis of the marketing plan and are found in the marketing strategies section of the marketing plan.

• Sales forecast

• Marketing mix

• Target market

• Promotion strategies