LATEST WGU D373 PA APPLIES STRATEGIC MARKETING
TOOLS AND METHODOLOGIES (FULL REVISED EXAM)
APPROVED EXAM QUESTIONS AND WELL ELABORATED
ANSWERS LATEST UPDATES 2024 |GUARANTEED PASS.
(BRAND NEW!!)
what is strategy? - ANSWER: the relationship (degree of fit) between a firm and its
environment
involves:
composing scenarios, forecasts, and horizon scanning
the relation between ends and means
allocating resources with a view to achieve future ends
strategic decisions - ANSWER: entail resource commitments that are usually large
and very costly to reverse
commitments are made with a long term outlook under conditions of uncertainty
entail choices, trade-offs and compromises
are made in the context of commitments & in light of the interdependencies
between them
how to organizations grow internally? - ANSWER: new products / services
market development
market penetration
internal new business development
internationalisation
how do organizations grow externally? - ANSWER: mergers and acquisitions
strategic alliances
licensing
four types of new ventures - ANSWER: incremental
innovative
imitative
, profit-seeking
what makes an opportunity attractive? - ANSWER: it is:
timely
solvable
relevant/Important
profitable
context
strategic marketing definition - ANSWER: strategic marketing is concerned with:
the behavior of organizations in the marketplace in their interactions with
consumers, customers, competitors and other external constituencies,
in the context of creation, communication and delivery of products that offer value
to customers in exchanges with organizations
and the general management responsibilities associated with the boundary spanning
role of the marketing function
strategic marketing challenges: - ANSWER: marketing's focus on products/brands
lack of broader organizational focus constrains marketing's strategy and influence
marketing is not the only functional area with claims on strategy
what is the role of marketing in the strategic management process - ANSWER: set
marketing objectives
develop & implement marketing plans
monitor & control marketing plans
levels of environment - ANSWER: macro-environment
micro-environment
internal
macro-environment - ANSWER: economic
social/cultural
technological
ecological/physical
political/legal
micro-environment - ANSWER: suppliers
distributors
competitors
TOOLS AND METHODOLOGIES (FULL REVISED EXAM)
APPROVED EXAM QUESTIONS AND WELL ELABORATED
ANSWERS LATEST UPDATES 2024 |GUARANTEED PASS.
(BRAND NEW!!)
what is strategy? - ANSWER: the relationship (degree of fit) between a firm and its
environment
involves:
composing scenarios, forecasts, and horizon scanning
the relation between ends and means
allocating resources with a view to achieve future ends
strategic decisions - ANSWER: entail resource commitments that are usually large
and very costly to reverse
commitments are made with a long term outlook under conditions of uncertainty
entail choices, trade-offs and compromises
are made in the context of commitments & in light of the interdependencies
between them
how to organizations grow internally? - ANSWER: new products / services
market development
market penetration
internal new business development
internationalisation
how do organizations grow externally? - ANSWER: mergers and acquisitions
strategic alliances
licensing
four types of new ventures - ANSWER: incremental
innovative
imitative
, profit-seeking
what makes an opportunity attractive? - ANSWER: it is:
timely
solvable
relevant/Important
profitable
context
strategic marketing definition - ANSWER: strategic marketing is concerned with:
the behavior of organizations in the marketplace in their interactions with
consumers, customers, competitors and other external constituencies,
in the context of creation, communication and delivery of products that offer value
to customers in exchanges with organizations
and the general management responsibilities associated with the boundary spanning
role of the marketing function
strategic marketing challenges: - ANSWER: marketing's focus on products/brands
lack of broader organizational focus constrains marketing's strategy and influence
marketing is not the only functional area with claims on strategy
what is the role of marketing in the strategic management process - ANSWER: set
marketing objectives
develop & implement marketing plans
monitor & control marketing plans
levels of environment - ANSWER: macro-environment
micro-environment
internal
macro-environment - ANSWER: economic
social/cultural
technological
ecological/physical
political/legal
micro-environment - ANSWER: suppliers
distributors
competitors
