How does a firm use a market opportunity to reach a particular target market?
What will be an ideal response?
Analysis of the marketing environment also includes identifying opportunities in the marketplace, which requires a solid understanding of the company's industry. When the right combination of circumstances and timing permits an organization to take action to reach a particular target market, a market opportunity exists. The SWOT analysis is used to assess an organization's strengths, weaknesses, opportunities, and threats. It is depicted as a four-cell matrix and shows how marketers must seek to convert weaknesses into strengths, threats into opportunities, and match internal strengths with external opportunities to develop competitive advantages. Strengths and weaknesses are internal factors that can influence an organization's ability to satisfy target markets. Strengths refer to competitive advantages, or core competencies, that give the company an advantage over other firms in meeting the needs of its target markets. Weaknesses are limitations a company faces in developing or implementing a marketing strategy.
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When the subheads and body copy of an advertisement are localized, not simply translated, it is an example of:
A) local advertising. B) global advertising. C) pattern advertising. D) advocacy advertising. E) stereotype advertising.
Maintenance access to systems increases the risk that logic will be corrupted either by the accident or intent to defraud
Indicate whether the statement is true or false
The forecasting techniques that assume past sales patterns will continue into the future are all variations of
A. regression analysis. B. random factor analysis. C. seasonal analysis. D. time series analysis. E. past sales forecasting surveys.
Karvel Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. For the month of August, Karvel estimated total manufacturing overhead costs at $300,000 and total machine-hours at 75,000 hours. Actual results for the period were manufacturing overhead costs of $290,000 and 75,000 machine-hours. As a result, Karvel would have:
A. applied an amount of overhead to Work in Process that was equal to the actual amount of overhead. B. applied more overhead to Work in Process than the actual amount of overhead cost for the year. C. found it necessary to recalculate the predetermined overhead rate. D. applied less overhead to Work in Process than the actual amount of overhead cost for the year.