Science Quiz / Marketing for Life Sciences Unit 2

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Do you know the basics of marketing?

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Strategic planning is a _____ ______ for envisioning a ______ _____ and translating that vision into broadly defined _____ and a _____ of _____ to achieve them.
Fill in the blanks (7 words). 
At what level is strategic planning usually done?
 
In step 1 of the strategic planning process, how do you determine the starting point?
 
What do you do in step 2 of strategic planning?
 
What should be done in step 3 of strategic planning?
 
In step 4, what must be done?
 
What is the last step?
 
What are 5 tools for scanning the industry?
 
What are example political factors that define rules that govern how a company must operate?
 
 
 
 
What are example economic factors that impact purchasing power of potential customers?
 
 
 
 
 
What are example social factors?
 
 
 
 
What technological factors lower barrier to entry or improve productivity?
 
 
 
 
A _____ analysis provides information about ______ and _____ environment in which a _____ operates and provides a ______ to survey the factors that ____ ____.
Fill in the blanks (7 words) 
What type of strategy should be used for strengths in which there are opportunities?
 
What type of strategy for weaknesses in which there are opportunities?
 
What strategy for threats to strengths?
 
What strategy for threats to weaknesses?
 
What is a core competency?
 
What are three tests for a core competency?
 
 
 
Five Competitive Forces are a way to analyze an industry and the factors that influence the _______.
Fill in the blank. 
What is the assumption about profits in an industry?
 
Who are the five 'game changers' in the 5 Competitive Forces?
 
What are the 3 value disciplines?
 
For a company to be _____, it must be _____ in all three disciplines. For a company to be a ____ ____, it must ______ in one of the three.
Fill in the blanks (5 words) 
What is the value proposition of a company with operational excellence?
 
What is the value proposition of a company with customer intimacy?
 
What is the value proposition of a company with product leadership?
 
What value discipline is a company that has a full range of products or services?
 
What value discipline is a company that rewards innovation?
 
What value discipline is a company that avoids waste?
 
What value discipline is a company that trains employees in the most efficient processes?
 
What value discipline is a company that makes their own products obsolete?
 

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