Question: 1. What is a mission statement, and how should a firm define its business mission? Give examples to illustrate the components of a good mission

1. What is a mission statement, and how should a firm define its business mission? Give examples to illustrate the components of a good mission statement.

2.Explain what is meant by SWOT analysis.

3. Explain the four marketing philosophies and define each.

4. Discuss the three types of competitive advantages.

5. Discuss the three general strategies for selecting target markets.

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