Refer to Exhibit 12-1. Graphs A and B together demonstrate the effect that a change in market demand has on the demand curve faced by a firm that is: O producing a homogeneous product. O very small relative to the market output as a whole. O a price taker. O all of the above.

This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.