Exam 21: Developing an Effective Marketing Plan

Which of the following components of a business plan describes strategies for informing potential customers about the goods and services offered by the firm as well as strategies for developing long-term relationships?

Why do marketers in most industries have difficulty making estimates and predictions beyond five years?

A marketing plan is a detailed description of the resources and actions needed to achieve stated marketing objectives.

A firm's goals should be specific and measurable.

Strategic planning is the process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives.

A large company sells some of its business units to help cut costs,bolster its share price and diversify its business interest.This is an example of a firm employing a(n):

Which of the following focuses on the environment in which the marketing plan is to be implemented?

Every marketing plan requires a budget,a time schedule for implementation,and a system for monitoring the plan's success or failure.

An exit strategy is a plan for a firm to leave the market.

The mission statement puts into words an organization's overall purpose and reason for being.

A marketing plan is not reevaluated once it is completely implemented.

The need for a business plan is more acutely felt in a small company than in a large multinational company.

What are the reasons a company should develop a marketing plan?

Describe the different components of a business plan.

The facilities plan estimates the firm's employment needs and the skills necessary to achieve organizational goals.

Which of the following is used to identify the firm's strengths,weaknesses,opportunities,and threats within the marketing environment?

Which of the following components of the marketing mix focuses on deciding the goods and services a firm should offer in order to meet the needs of its customers?

A firm's marketers must write a marketing plan before formulating an overall marketing strategy.