Question 1

When assessing the current situation in the first step of a marketing plan,it is recommended that one ________.

Accepted Answer

A) avoids making assumptions of any kind 
B) eliminates areas that lack factual data from the purview of the plan 
C) utilizes only concrete facts about the future projections and performance gaps 
D) generates estimates based on knowledge and experience to be modified in the future 
E) substitutes the data of current performance by that of the projected performance in the plan 
A) avoids making assumptions of any kind 
B) eliminates areas that lack factual data from the purview of the plan 
C) utilizes only concrete facts about the future projections and performance gaps 
D) generates estimates based on knowledge and experience to be modified in the future 
E) substitutes the data of current performance by that of the projected performance in the plan D

Question 2

The third step in building a marketing plan involves ________.

Accepted Answer

A) conducting a performance review 
B) conducting a situation analysis 
C) performing a SWOT analysis 
D) developing a performance plan 
E) conducting a share valuation process 
A) conducting a performance review 
B) conducting a situation analysis 
C) performing a SWOT analysis 
D) developing a performance plan 
E) conducting a share valuation process D

Question 3

The marketing team at Wallace Waterworks has been working on a marketing plan for the impending quarter.The team completed a SWOT analysis and incorporated its results into a strategic market plan.After evaluating the company's competitiveness and creating a revenue plan,the team now has to determine the resources necessary to meet the performance objectives of the strategic market plan.Which of the following steps will help the company determine the resource allocation for the coming quarter?

Accepted Answer

A) marketing and sales budget 
B) situation analysis 
C) SWOT analysis 
D) strategic market plan 
E) marketing mix plan 
A) marketing and sales budget 
B) situation analysis 
C) SWOT analysis 
D) strategic market plan 
E) marketing mix plan A

Question 4

The marketing and sales budget of Fisk Inc.is estimated to be $500 million and its marketing administration cost is estimated to be $120 million.The acquisition cost per customer is $400 and it is 10 times more than the retention cost per customer.If 320,000 customers are retained,what is the total number of new customers acquired by Fisk Inc.?

Accepted Answer

A) 145,000 customers 
B) 350,000 customers 
C) 918,000 customers 
D) 642,000 customers 
E) 786,500 customers 
A) 145,000 customers 
B) 350,000 customers 
C) 918,000 customers 
D) 642,000 customers 
E) 786,500 customers

Question 5

The primary purpose of a detailed situation analysis is to uncover key performance issues that normally might go unnoticed in day-to-day business operations.

Accepted Answer

A) True 
 B)False

Question 6

MINI-CASE
VitaMind manufactures a line of vitamins and supplements,and distributes them through retail health food and organic grocery stores.While this young company is currently realizing profits,the owners want to plan for future growth and are beginning the formal market planning process.
-Mini-Case Question.Based on information from their analysis,VitaMind determined that there is an opportunity to expand distribution of its line of products into mass merchandisers.In which of the following steps of the market planning process will specific details regarding VitaMind's proposed channel strategy be specified?

Accepted Answer

A) situation analysis 
B) SWOT analysis 
C) revenue plan 
D) marketing strategy 
E) performance review 
A) situation analysis 
B) SWOT analysis 
C) revenue plan 
D) marketing strategy 
E) performance review

Question 7

A company's fixed marketing administrative expense was estimated to be $12 million.It has retained 245,000 customers and has acquired 36,000 new customers.The acquisition cost per customer is 10 times more than the retention cost per customer.If the retention cost per customer is $180,calculate the marketing and sales budget of the company.

Accepted Answer

A) $236.6 million 
B) $338.4 million 
C) $183.9 million 
D) $120.9 million 
E) $85.8 million 
A) $236.6 million 
B) $338.4 million 
C) $183.9 million 
D) $120.9 million 
E) $85.8 million

Question 8

In the context of SWOT analysis,which of the following would be a strength for a company already existing in the market?

Accepted Answer

A) a growing market 
B) a local environment that is conducive to growth of the business 
C) an openness of the governmental mechanism to foreign investors in the business 
D) a low level of barriers to entry in the market 
E) a high level of branding that leads to market recognition 
A) a growing market 
B) a local environment that is conducive to growth of the business 
C) an openness of the governmental mechanism to foreign investors in the business 
D) a low level of barriers to entry in the market 
E) a high level of branding that leads to market recognition

Question 9

In the context of market planning,it is advisable to view the potential market as a homogeneous market irrespective of the different needs and demands of the smaller niche markets.

Accepted Answer

A) True 
 B)False

Question 10

The marketing and sales budget of Toby Inc.is estimated to be $450 million.It has retained 800,000 customers and has acquired 350,000 new customers.The marketing administration cost of the company is $150 million.If the acquisition cost per customer is $350,calculate the approximate retention cost per customer.

Accepted Answer

A) $168 
B) $222 
C) $320 
D) $124 
E) $85 
A) $168 
B) $222 
C) $320 
D) $124 
E) $85

Question 11

In which type of marketing budget is each element of the marketing effort budgeted for specific tasks identified in the marketing plan?

Accepted Answer

A) top-down budget 
B) customer-mix budget 
C) bottom-up budget 
D) annual budget 
E) objective and task budget 
A) top-down budget 
B) customer-mix budget 
C) bottom-up budget 
D) annual budget 
E) objective and task budget

Question 12

The first step in building a marketing plan is the step of ________.

Accepted Answer

A) revenue planning 
B) performance plan 
C) situation analysis 
D) marketing strategy 
E) performance review 
A) revenue planning 
B) performance plan 
C) situation analysis 
D) marketing strategy 
E) performance review

Question 13

Which of the following would be considered as a current performance variable under the situation analysis level of a marketing plan?

Accepted Answer

A) channels to the market 
B) communications strategy 
C) performance gap 
D) competition and industry 
E) break-even sales figures 
A) channels to the market 
B) communications strategy 
C) performance gap 
D) competition and industry 
E) break-even sales figures

Question 14

Uncovering key performance issues that normally might go unnoticed in day-to-day business operations is the primary purpose of the ________ step of a marketing plan.

Accepted Answer

A) situation analysis 
B) revenue planning 
C) performance evaluation 
D) performance gap 
E) channel strategy 
A) situation analysis 
B) revenue planning 
C) performance evaluation 
D) performance gap 
E) channel strategy

Question 15

ABL Inc.is a large consumer goods company that recently released some new shower gels in the market.Two of the most touted shower gels in this new line of products failed in the market,while the range of shower gels designed for adolescents called "Rebel" did very well in the market.Which of the following benefits would accrue to ABL Inc.from the success of "Rebel" in the market?

Accepted Answer

A) reduced barriers of entry 
B) increased cost-efficiency 
C) reduced need for quality controls 
D) reduced customer retention rates 
E) increased break-even sales figures 
A) reduced barriers of entry 
B) increased cost-efficiency 
C) reduced need for quality controls 
D) reduced customer retention rates 
E) increased break-even sales figures

Question 16

The marketing and sales budget of Wilson Inc.is estimated to be $250 million.It has retained 450,000 customers and acquired 100,000 new customers.The marketing administration cost of the company is $90 million.If the retention cost per customer is $75,calculate the acquisition cost per customer.

Accepted Answer

A) $450 
B) $1,262.5 
C) $1,580.5 
D) $676 
E) $980 
A) $450 
B) $1,262.5 
C) $1,580.5 
D) $676 
E) $980

Question 17

List and briefly describe in order the steps in the process of building a marketing plan.

Accepted Answer

(1)Situation Analysis - Thorough examina

Question 18

In the ________,all elements of a market plan merge into a forecast of percent margins and marketing profitability.

Accepted Answer

A) situation analysis 
B) performance review 
C) profit plan 
D) marketing performance plan 
E) adjusting marketing plan 
A) situation analysis 
B) performance review 
C) profit plan 
D) marketing performance plan 
E) adjusting marketing plan

Question 19

Both creative insight and analytical structure are necessary to paint a meaningful picture of the market situation,marketing strategy,and a logic-based path that leads to the desired performance objectives.

Accepted Answer

A) True 
 B)False

Question 20

The role of a SWOT analysis is to ________.

Accepted Answer

A) evaluate the effort that is needed to recover a business's investment 
B) document all present and possible future influences on performance 
C) monitor the marketing and profit performance in light of the marketing plan's timeline 
D) specify each marketing task and the amount needed to accomplish it 
E) allocate resources based on the strategic market plan 
A) evaluate the effort that is needed to recover a business's investment 
B) document all present and possible future influences on performance 
C) monitor the marketing and profit performance in light of the marketing plan's timeline 
D) specify each marketing task and the amount needed to accomplish it 
E) allocate resources based on the strategic market plan

When assessing the current situation in the first step of a marketing plan,it is recommended that one ________.

The third step in building a marketing plan involves ________.

The primary purpose of a detailed situation analysis is to uncover key performance issues that normally might go unnoticed in day-to-day business operations.

In the context of SWOT analysis,which of the following would be a strength for a company already existing in the market?

In the context of market planning,it is advisable to view the potential market as a homogeneous market irrespective of the different needs and demands of the smaller niche markets.

In which type of marketing budget is each element of the marketing effort budgeted for specific tasks identified in the marketing plan?

The first step in building a marketing plan is the step of ________.

Which of the following would be considered as a current performance variable under the situation analysis level of a marketing plan?

Uncovering key performance issues that normally might go unnoticed in day-to-day business operations is the primary purpose of the ________ step of a marketing plan.

The marketing and sales budget of Wilson Inc.is estimated to be $250 million.It has retained 450,000 customers and acquired 100,000 new customers.The marketing administration cost of the company is $90 million.If the retention cost per customer is $75,calculate the acquisition cost per customer.

List and briefly describe in order the steps in the process of building a marketing plan.

In the ________,all elements of a market plan merge into a forecast of percent margins and marketing profitability.

Both creative insight and analytical structure are necessary to paint a meaningful picture of the market situation,marketing strategy,and a logic-based path that leads to the desired performance objectives.

The role of a SWOT analysis is to ________.

Customer Focus, customer Performance, and Profit Impact

Marketing Metrics and Marketing Profitability

Market Potential, market Demand, and Market Share

The Customer Experience and Value Creation

Market Segmentation and Segmentation Strategies

Competitive Position and Sources of Advantage

Product Positioning, branding, and Product Line Strategies

Value-Based Pricing and Pricing Strategies

Marketing Channels and Channel Mapping

Marketing Communications, social Media, and Customer Response

Portfolio Analysis and Strategic Market Planning

Offensive Strategies

Defensive Strategies

Marketing Metrics,performance,and Strategy Implementation

Market-Based Management and Financial Performance

Filters

Exam 14: Building a Marketing Plan

When assessing the current situation in the first step of a marketing plan,it is recommended that one ________.

The third step in building a marketing plan involves ________.

The primary purpose of a detailed situation analysis is to uncover key performance issues that normally might go unnoticed in day-to-day business operations.

In the context of SWOT analysis,which of the following would be a strength for a company already existing in the market?

In the context of market planning,it is advisable to view the potential market as a homogeneous market irrespective of the different needs and demands of the smaller niche markets.

In which type of marketing budget is each element of the marketing effort budgeted for specific tasks identified in the marketing plan?

The first step in building a marketing plan is the step of ________.

Which of the following would be considered as a current performance variable under the situation analysis level of a marketing plan?

Uncovering key performance issues that normally might go unnoticed in day-to-day business operations is the primary purpose of the ________ step of a marketing plan.

The marketing and sales budget of Wilson Inc.is estimated to be $250 million.It has retained 450,000 customers and acquired 100,000 new customers.The marketing administration cost of the company is $90 million.If the retention cost per customer is $75,calculate the acquisition cost per customer.

List and briefly describe in order the steps in the process of building a marketing plan.

In the ________,all elements of a market plan merge into a forecast of percent margins and marketing profitability.

Both creative insight and analytical structure are necessary to paint a meaningful picture of the market situation,marketing strategy,and a logic-based path that leads to the desired performance objectives.

The role of a SWOT analysis is to ________.

Customer Focus, customer Performance, and Profit Impact

Marketing Metrics and Marketing Profitability

Market Potential, market Demand, and Market Share

The Customer Experience and Value Creation

Market Segmentation and Segmentation Strategies

Competitive Position and Sources of Advantage

Product Positioning, branding, and Product Line Strategies

Value-Based Pricing and Pricing Strategies

Marketing Channels and Channel Mapping

Marketing Communications, social Media, and Customer Response

Portfolio Analysis and Strategic Market Planning

Offensive Strategies

Defensive Strategies

Marketing Metrics,performance,and Strategy Implementation

Market-Based Management and Financial Performance

Filters