1. A means or action by which a plan or objectives are accomplished is the definition of a:
A) tactic
B) mission
C) strategy
2. The marketing strategy created for a cell phone accessories company was put together after conducting a SWOT analysis which looked at the company’s internal strengths and weaknesses and external opportunities and threats that it faced. This process is known as identifying:
A) throughputs
B) outputs
C) inputs
3. Kimball’s Vintage Hats is an online-only business selling unique and affordable replicas of vintage designer hats. The business is new, but Kimball worked in Europe for years as a milliner. He sells his wares through an Etsy storefront and has the objective of becoming successful enough to work full time at his passion, this company. What tool or model would most assist Kimball’s Vintage Hats to effectively set its marketing objectives and strategies?
A) SWOT analysis
B) financial analysis
C) product design analysis
4. When Arm & Hammer Baking Soda company ran ad campaigns highlighting all of the additional uses for its baking soda product besides deodorizing the refrigerator, what market strategy was it using?
A) market development strategy
B) product development strategy
C) market penetration strategy
5. What is an approach a company can use to evaluate the quality of their customer relationships?
A) collect information about their company’s hiring practices
B) collect customer information and build a buyer persona
C) launch a new product without getting customer feedback
