PRINCIPLES OF MARKETING Weeks 7&8 QUIZ Shade the letter of the correct answer on your zip grade answer sheet. Name 1. It is an estimate or projected costs associated with marketing products or services over a specific period. Subject A. Feedback and Control C. Marketing Objectives B. Marketing Budget 10 items test (8484) D. Marketing Strategies ZIPGRADE.COM Section 2. These are favorable external factors that could give a competitive advantage to the business. A. Opportunities B. Strengths 1 C. Threats D. Weaknesses 20300 10 3. These are actionable targets that outline the intentions of the marketing team, 30690 provide clear directions, specific actions, and offer information for executives to 40906 review and support. A. Feedback and Control B. Marketing Budget 56009 C. Marketing Objectives D. Marketing Strategies 4. It refers to any limitations of the business in developing or implementing a strategy. A. Opportunity B. Strength C. Threat D. Weakness 5. It is the comparison of industry data over a set time period to assume future develop ment and the overall direction of the market. A. Market Needs B. Market Size C. Market Trends D. Target Market 6. These are external factors that have the potential to harm the business. A. Opportunities B. Strengths C. Threats D. Weaknesses 7. It involves measuring the results or outputs of marketing decisions versus goals and taking corrective action to meet those goals. A. Feedback and Control B. Marketing Budget C. Marketing Objectives D. Marketing Strategies These are the core competencies that give the business advantages in relation to satisfying a customer's needs. A. Opportunities B. Strengths C. Threats D. Weaknesses It is the sum total of the group of individual or organizational consumers who have both the willingness and financial capacity to purchase a particular product or service. A. Brand Positioning B. Market Trends C. Target Market D. Total Market . Which of the following is the business' philosophy and long-term direction that aligns with its core values and goals? A. Brief History of the Company B. Mission and Vision C. Product Offerings D. Service Offerings