3. The beer industry has seen a gradual increase from three major sellers (in 1990) to several hundred. Meanwhile, the number of cigarette manufacturers has stayed relatively constant. Although both goods are considered vices and thus unpopular, the industries have moved in different direc- tions. What economic theory can you suggest to explain this difference? (“Cigarettes have a negative reputation" is not a sufficient answer, as drinking is also considered a vice.)​

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.