Strategic Marketing

Question 1

What is a strategy?

Answer 1

A fundamental pattern of present and 
planned objectives, resource 
deployments, and interactions of an 
organization with markets, competitors, 
and other environmental factors.

Question 2

What are the components of a strategy?

Answer 2

• Scope
• Goals and objectives
• Resource deployments
• Identification of sustainable competitive
  advantage
• Synergy

Question 3

What is resource deployment?

Answer 3

Allocating resources optimally. Resources include:

• Brands
• Staff
• IP
• Money
• Equipment

Question 4

What is the hierarchy of strategies?

Answer 4

1. corporate strategy
2. Business level strategy
3. marketing strategy

Question 5

What is market oriented management?

Answer 5

• marketing concept
• business philosophy
• consistent focus by all departments and at all levels
• organisational procedures and structures to empower responsive decision making