Lesson 3: Marketing Strategy and Marketing Planning

Question 1

plan from reaching a specific goal

Answer 1

strategy

Question 2

a strategy is a

Answer 2

broad goal

Question 3

its about having a goal which is quantitatively attainable or achievable with a time frame and the availability of the resources.

Answer 3

broad goal

Question 4

a broad process that can address the entire business , or a portion of the business such as marketing.

Answer 4

strategic planning

Question 5

Plans should be look forward for a

Answer 5

long-term goal

Question 6

meaning a short concept or actions to achieve a certain purpose.

Answer 6

tactic

Question 7

marketing plans should start with

Answer 7

broad strategies and supported with specific tactics

Question 8

process of predicting future events and conditions and of determining the best way to attain the goals and objectives of the organization

Answer 8

planning

Question 9

management process of creating and maintaining fit between the objectives and resources of the organization and the changing market opportunities

Answer 9

strategic planning

Question 10

roadmap to get to business goals. Without such guidance, there is no way to tell whether a business is on track to reach its goals.

Answer 10

strategic plan

Question 11

a short-term plan that describes the current situation, company objectives, and the strategy for the year, the action program, budgets and controls. (sales target for the year.

Answer 11

annual plan

Question 12

describes the primary factors and forces affecting the organization during the next several years.

Answer 12

long-range plan

Question 13

This is reviewed every year, to attain its efficiency and effectiveness, and updated every year.

Answer 13

long term objectives

Question 14

shaped by your business strategy, your marketing strategy is your purpose; it’s the offering you deliver, how you will deliver it and why your marketing efforts will help you achieve your company’s mission and strategic goals. once you have your strategy, only then will you be able to develop an effective marketing plan

Answer 14

marketing strategy

Question 15

a business document written for the purpose of describing the current market position of a business and its marketing strategy for the period covered by the marketing plan

Answer 15

marketing plan

Question 16

usually cover a period of one to five years

Answer 16

marketing plan

Question 17

A comprehensive document or blueprint that outlines a
company’s advertising and marketing efforts for the coming year. It describes business
activities involved in accomplishing specific marketing objectives within a set time frame.

Answer 17

marketing plan

Question 18

to accomplish the long-term goal, marketers develop

Answer 18

short term action plan and do tactical marketing

Question 19

process of breaking down the strategic plan into distinctive short terms plans.

Answer 19

tactical planning

Question 20

to make a tactical plan effective:

Answer 20

goals must be identified first

Question 21

having something unique about your product as well as how you sell them can develop into a signature style that will make your brand memorable

Answer 21

unique selling proposition

Question 22

planning process stages

Answer 22

analysis, planning, implementation, control

Question 23

planning begins with

Answer 23

complete analysis of the company’s situation

Question 24

a framework to help assess and understand the internal and external forces that may create opportunities or risks for an organization.

Answer 24

swot analysis

Question 25

Characteristics of a business that give its advantage over its competitors

Answer 25

strengths

Question 26

Characteristics of a business that put it at a disadvantage relative to competitors

Answer 26

weaknesses

Question 27

Elements in a company’s external environment that allow it to formulate and implement strategies to improve performance.

Answer 27

opportunities

Question 28

Elements in a company’s external environment that could endanger the business, it’s profitability, or it’s competitive advantage (s).

Answer 28

threats

Question 29

the why behind your marketing efforts

Answer 29

marketing strategy

Question 30

the road map the executive plan

Answer 30

marketing plan

Question 31

its purpose is to describe how your marketing goals will help you achieve your business goals

Answer 31

marketing strategy

Question 32

what offering you will deliver, how you will deliver, who you will deliver it to, how you will deliver it and who your competitors are

Answer 32

marketing strategy

Question 33

it helps you make the most of your investment, keep your marketing focused and measure your sales results

Answer 33

marketing strategy

Question 34

its purpose is to lay out your marketing campaign efforts on a tactical level

Answer 34

marketing plan

Question 35

what will you do, where you will do it, when you will implement and how you will track success

Answer 35

marketing plan

Question 36

it supports your strategy and is the action plan you’ll use to implement your marketing effort

Answer 36

marketing plan

Question 37

Planning begins with a

Answer 37

complete analysis of the company’s situation

Question 38

Through strategic planning, the company decides what it wants to do with each business unit.

Answer 38

planning

Question 39

nvolves deciding marketing strategies that will help the company attain its overall strategic objectives. Marketing, product or brand plans are at the center of this.

Answer 39

marketing planning

Question 40

Turns strategic plans into actions that will achieve the company’s objectives.

Answer 40

implementation

Question 41

consists of measuring and evaluating the results of plans and activities and taking corrective action to make sure objectives are being achieved. Analysis provides information and evaluations needed for all the other activities.

Answer 41

control

Question 42

this become the basis of long-term plan used in strategic marketing

Answer 42

tactical marketing