![]() Therefore, it is important for companies to carefully consider the risks and rewards of brand extension before embarking on this type of marketing strategy.Why is brand extension a popular marketing strategy?.Which of the following types of firms would be most likely to use a global marketing strategy?.The four elements of the marketing mix are product, price, place, and promotion.Which of the following are the two components of a global marketing strategy?.A firm’s marketing philosophy determines how strategic marketing activities are used to achieve.After you have put a marketing plan in place, it is important to do what?.Which of the following is not one of the three phases of the strategic marketing process?.Which of the following is part of the marketing process?.Which of the following is the third step in the marketing planning process?. ![]() Which of the following is the first step in developing a marketing strategy?.Which of the following represents the three major phases of a marketing plan?.What are the three steps involved in the planning phase of the strategic marketing process?.Evaluate and adjust your marketing strategy.When conducting a 5C analysis, organizations should keep the following customer-centric questions in mind:.The 5C framework is composed of five different concepts which are:.Research your target market and understand their needs and wants.
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