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ASSESSMENT Multiple Choice: Read each statement carefully and select the best answer. Write the utter of your answer. It no answer is found in the choices, write the correct answer. 1. It is an essential competitive weapon and an important element in marketing mix because it means revenue for the company. a. Product Strategy c. Place Strategy b. Price Strategy d. Promotion Strategy 2. Marketers must be cautious in blending the various elements of 225 promotion in order to successfully communicate with the target market . a. Product Strategy c. Place Strategy b. Price Strategy d. Promotion Strategy 3. The use of this strategy must guarantee that products are accessible for consumers at the right quantities at the right time and place. noww red in painist a. Product Strategy c. Place Strategy b. Price Strategy d. Promotion Strategy 4. This is a broad concept that comprises the satisfaction of customer needs in relation to a good, service or idea. a. Product Strategy c. Place Strategy b. Price Strategy d. Promotion Strategy 5. As it implements its strategy, the firm requires to track the results and monitor new developments in the internal and external environments. a. Feedback and Control b. Environmental Scanning c. Goal Formulation d. Program Formulation 6. This is the collection and interpretation of information about sources, events and relationship that may affect the future of an organization. It allows company to constantly look for threats and opportunities before they are fully apparent. a. Feedback and Control b. Environmental Scanning C. Goal Formulation d. Program Formulation 133