Questions: Planning, implementation, and evaluation are considered parts of the strategic marketing process

Planning, implementation, and evaluation are considered parts of the strategic marketing process
Transcript text: Planning, implementation, and evaluation are considered parts of the strategic marketing process
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Solution

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The answer is: strategic marketing process.

Explanation for each option:

  1. Strategic marketing process: This is the correct answer. The strategic marketing process involves three main phases: planning, implementation, and evaluation. During the planning phase, organizations set objectives and determine the strategies to achieve them. Implementation involves putting the plan into action, and evaluation assesses the effectiveness of the marketing efforts and makes necessary adjustments.

  2. SWOT analysis: This is incorrect. SWOT analysis is a tool used during the planning phase of the strategic marketing process. It involves identifying the strengths, weaknesses, opportunities, and threats related to a business or project. While it is a component of planning, it does not encompass the entire strategic marketing process.

  3. Portfolio analysis: This is incorrect. Portfolio analysis is a method used to evaluate a company's range of products or business units. It helps in deciding where to allocate resources but does not cover the full scope of planning, implementation, and evaluation.

  4. Marketing mix: This is incorrect. The marketing mix refers to the set of actions or tactics a company uses to promote its brand or product in the market, often summarized as the 4 Ps: Product, Price, Place, and Promotion. While it is a crucial part of marketing strategy, it does not include the broader phases of planning, implementation, and evaluation.

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