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Please read the scenario below, and then answer the questions that follow in a 3-page analysis. The questions will guide your analysis of the situation, but they will need to be presented as part of a report to the owner of the company on evaluating a marketing plan.
Address the following questions in your response:
- What is the final element (final phase) of a marketing plan?
- What is an independent, comprehensive, systematic, and periodic review of a company’s marketing environment, strategies, and objectives to improve performance?
- What are the primary trade channels for bringing products to customers?
- How is decreasing the number of levels of management in an organization to get closer to the customer described?
- How is using analytical methods, such as data mining, to develop deeper insights into customer behavior described?
- What are the four stages of the profitability control process?
- What reveals the company’s earnings in products, territories, or markets?
- What is the number 1 deadly sin of marketing for companies?
- What addresses the what and why of marketing activities?
- What software allows marketers to make better spending and investment decisions, get new products to market quicker, and reduce decision time and costs?
- Who examines adherence to profit plans, assists brand managers in preparing budgets, measures promotional efficiency, evaluates costs related to media production, and conducts profitability analyses?
- What is crucial to ensuring that marketing plans have their expected results annually?
- Who sets annual sales and profit goals?
- How frequently does the average U.S. corporation lose half of its customers?
- What is critical for marketing to have future success?