Chapter 2 Marketing Plan

A snapshot of a business's internal and external environment over a period of time is a ____.

• Marketing plan

• Situation Analysis

• Market segmentation

• Market size

External factors that can harm a company's growth or profit are called?

• Strengths

• Weaknesses

• Opportunities

• Threats

Which internal factors put a company at a disadvantage compared to competitors?

• Strengths

• Weaknesses

• Opportunities

• Threats

External factors that help a company increase profits.

• Threats

• Strengths

• Opportunities

• Weaknesses

Internal factors that give a company an advantage

• Threats

• Opportunities

• Weaknesses

• Strengths

An environmental scan evaluates political, economic, social, technological, legal, and environmental factors that may affect a business.

• SWOT Analysis

• Situation Analysis

• PESTLE Analysis

• Marketing Analysis

Standards that can be measured, like the click-through rate of an email, are called ____.

• Specific sales goals

• Market potential

• Best opportunities

• Hard metrics

The specific activities implemented to carry out the marketing strategies are:

• Marketing tactics

• Marketing goals

• Market share

• Mission statement

What message does a company send to customers about why it exists?

• Mission statement

• Marketing statement

• Goal statement

• Vision statement

A brief explanation of what the business aspires to accomplish.

• Mission statement

• Market statement

• Goal statement

• Vision statement