Marketing Strategies Flashcards
1
Q
What is strategic direction guided by?
A
Marketing strategy
2
Q
What is strategic direction?
A
The general path a business takes, based on its mission and achieving its objectives.
3
Q
What are some of the key factors in setting strategic direction?
A
Which markets to compete in
What products to offer
Which direction to grow in
4
Q
What does market strategy decide?
A
Markets and products
5
Q
What are some of the factors that influence the markets it plans to compete in?
A
The type of product Level of competition External factors Internal resources Attitude to risk
6
Q
What are some of the factors that influence the products the business sells
A
R&D Competitors Technology Finances External factors
