Chapter 2 – Developing Successful Marketing Strategies

Question 1

The Strategic Marketing Process

Answer 1

•	Step 1: Situation (SWOT) Analysis 
•	Step 2: Market – Product Focus and Goal Setting
-	Set marketing and product goals
-	Select target markets
-	Find points of difference
-	Position the product
•	Step 3: Marketing Program 
-	Product, price, promotion, and place (distribution) strategies

Question 2

SMART Goals

Answer 2

• Profit
• Sales
• Market Share
• Quality
• Customer Satisfaction
• Employee
• Welfare
• Social Responsibility