What are the elements of the Organizational Strategic Marketing Planning Process?
What will be an ideal response?
• Analysis of the internal environment (goals, objectives, culture, strengths and weaknesses) and external environment (key publics, competition, the macroenvironment)
• Development of broad strategy, goals and objectives, specifying market strategy
• Implementation of specific tactics to be measured by performance evaluation criteria
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When Kraft Foods launched Oreo brand cookies in China in 1996, they found that Oreo was too sweet for the Chinese palate, and the price was too low. Oreo reformulated a less-sweet chocolate-covered wafer and increased its price
This strategy is referred to as product extension approach. Indicate whether the statement is true or false