plans into actions 3 How do our results compare with our plans and 4 Do

Plans into actions 3 how do our results compare with

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plans into actions?” (3)How do our results compare with our plans?” and (4) “Do deviations - 79 -
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require new plans?” Questions such as “Where are we now?” and “Where do we want to go?” are answered during the analysis (business portfolio and diversification) that occurs prior to engaging in the strategic marketing process.2-235STRATEGIC MARKETING PROCESSCOMPREHENSIONWithin the strategic marketing process, the__________ is the result of the planning phase that proceeds to the implementation phase where it is carried out.a.marketing tacticsb.business planc.product protocold.marketing plane.marketing strategyAnswer:dPage(s):38LO: 5AACSB: AnalyticQD: MediumRationale:The marketing plan is the result of the planning phase of the strategic marketing process that proceeds to the implementation phase where it is carried out. See Figure 2-6 in the textbook.2-236STRATEGIC MARKETING PROCESS: PLANNINGCOMPREHENSIONWhat are the three steps involved in the planning phase of the strategic marketing process?a.Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting; and Step 3:the marketing program b.Step 1: planning; Step 2: implementation; and Step 3: evaluationc.Step 1: set market and product goals; Step 2: select target markets and find points of difference; and Step 3: position the productd.Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own organizatione.Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it?Answer:aPage(s):38-41LO: 5AACSB: AnalyticQD: MediumRationale:The three steps involved in the planning phase of the strategic marketing process are: Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting; and Step 3: the marketing program. See Figure 2-6 in the textbook.2-237STRATEGIC MARKETING PROCESS: PLANNINGCOMPREHENSIONStep 1 in the planning phase of the strategic marketing process consists ofa.business portfolio analysis.b.market-product focus and goal setting.c.the marketing program.d.the situation (SWOT) analysis.e.diversification analysis.Answer:dPage(s):38-41LO: 5AACSB: AnalyticQD: MediumRationale:The planning phase of the strategic marketing process has three steps. Step 1 is the situation (SWOT) analysis. Step 2 is market-product focus and goal setting. Step 3 is the - 80 -
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marketing program. The implementation and evaluation phases follow the planning phase of the strategic marketing process. See Figure 2-6 in the textbook.2-238STRATEGIC MARKETING PROCESSCOMPREHENSIONStep 1 in the strategic marketing process involves __________.a.establishing the budgetb.developing the marketing programc.setting goalsd.auditing the marketing plane.conducting a situation (SWOT) analysisAnswer:ePage(s):38-41LO: 5AACSB: AnalyticQD: MediumRationale:The planning phase of the strategic marketing process has three steps. Step 1 is the situation (SWOT) analysis. Step 2 is market-product focus and goal setting. Step 3 is the marketing program.
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