1. Earl is starting a new bank.

Before the opening day, Earl had a meeting with all

employees. He discussed their mission, defined objectives for the bank for the
coming years, and shared who their target market is. He talked about their
product offerings and where their future branches would be located. Earl is
sharing the bank's:

Answer: Marketing Plan

2. A firm that wants to develop a deeper understanding of its customers may

optimize profitability, revenue, and customer satisfaction by focusing on highly
defined and precise customer groups. This is _____:

Answer: customer relationship management

3. A _____ is a study conducted by an organization to identify its internal strengths

and weaknesses and also examine external opportunities and threats.

Answer: situation analysis

4. Coca-Cola vending machines are found all over the world. The newest machines
have an interactive screen that runs advertisements and allows users to obtain
free photos of themselves and ringtones after they have bought a drink. Critics of
these new vending machines are concerned that entertaining technology is being
used to market sugary products. In terms of a SWOT analysis, this concern
would be an example of a(n):

Answer: threat

5. Walmart realizes a _____ using its relationships with suppliers to give customers
low prices and good customer service.

Answer: cost-competitive advantage