Marketing EssentialsSection 1:
Marketing PlanningAfter You Read Online ActionKey Terms and Concepts - A SWOT analysis is a critical examination by a business of itself and its business environment. It is helpful because it enables a business to prepare for and deal with threats and weaknesses, as well as provide guidance and direction.
- When a company conducts a SWOT analysis and an environmental scan, it can develop strategies to deal with its weaknesses and challenges and best use its strengths and opportunities.
- The evaluation and control phase of a marketing plan assesses how well the company has met its objectives. This phase also sets the stage for the next marketing plan.
Academic Skills - 1,524,600; 1,386,000 X .10 = 138,600; 138,600 + 1,368,000 = 1,524,600
- In times of a healthy and robust economy, businesses are more likely to invest in new products and markets; in an economy is either in or heading toward a recession, marketing plans may be placed on hold, changed, or dismissed altogether until the economy improves.
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