Derek is a high school student who is currently taking a course in personal finance. He knows that he should be managing his money from his part-time job
better. He has learned about saving and budgeting, but he continues to spend all
of his money on his car and going out with friends. He knows that someday he'll
have to be more responsible, but right now he thinks he should just enjoy being a
carefree teenager. Why is it important for Derek to manage his money well now
instead of waiting until he's older?

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.