MKTG week 2

Question 1

what are 4 strategic planning steps

Answer 1

1) define the company mission
2) set company objectives and goals
3) design the business portfolio
4) develop functional plans

Question 2

what are the four dimensions of social responsibility

Answer 2

economic, legal, ethical & philanthropic

Question 3

Describe each segment in the BCG matrix

Answer 3

it shows the degree of market growth rate with relative market share and has stars, question marks, dogs, and cash cows

Question 4

Describe each segment in the product/market expansion grid

Answer 4

marketing penetration = existing product, existing market
market development = existing product, new market
product development = new product, existing market
diversification = new product, new market

Question 5

Who is apart of the Micro-environment

Answer 5

suppliers, competitors, publics, customers, and marketing intermediaries

Question 6

Who is apart of the Macro-environment

Answer 6

political & social, economic, demographic, tech, natural enviro, cultural