Assessment 2 Part A - Written Responses

1. What is a business resource?

2. What does a market development opportunity involves?

3. Explain competitive advantage.

4. Why marketers must consider social change?

5. What is Return on investment?

6. How would you define your market under niche strategy?

Part B - Written Responses

1. Why is it important to develop marketing opportunities?

2. List the six steps in the process of developing an opportunity.

3. Describe two methods used to evaluate marketing opportunities.

4. Define the following: a. Mission Statement b. Vision Statement

5. How does the mission, vision and values statement fit with developing marketing opportunities?

6. What is a marketing strategy?

7. Describe two types of research that may be done when pursuing opportunities.

8. Complete the following table.

9. Describe how the following business resources affect marketing opportunities: a. Human b. Financial c. Production Capacity d. Stock and Supplies

10. What is the external environment?

11. What are four factors that are analysed when studying competitor activity