Question 1

Which of the following statements about marketing plans is most accurate?

Accepted Answer

A) A marketing plan has little or no value unless it projects plans at least five years into the future. 
B) In truth, no single "generic" marketing plan can apply to all organizations or all situations. 
C) It is important to use the exact market plan format regardless of the product or industry. 
D) Although sales figures will vary greatly, the marketing plan for a small family owned food store will be almost identical to the marketing plan of a large supermarket chain, if written correctly. 
E) Although the target audience and purpose affect the design of a marketing plan, the type of industry plays a relatively small role in its design, if any at all. 
A) A marketing plan has little or no value unless it projects plans at least five years into the future. 
B) In truth, no single "generic" marketing plan can apply to all organizations or all situations. 
C) It is important to use the exact market plan format regardless of the product or industry. 
D) Although sales figures will vary greatly, the marketing plan for a small family owned food store will be almost identical to the marketing plan of a large supermarket chain, if written correctly. 
E) Although the target audience and purpose affect the design of a marketing plan, the type of industry plays a relatively small role in its design, if any at all.

Question 2

Despite the fact that there is not "one" format for writing successful marketing and business plans, there are important general guidelines: (1) Use a direct, professional writing style, (2) Be positive and specific to convey potential success.(3) Use A level (the first level) and B-level (the second level) headings under the numbered section headings to help readers make easy transitions from one topic to another.(4) Use visuals where appropriate.(5) Shoot for a plan 15 to 35 pages in length, not including financial projections and appendixes.(6) Use care in layout, design, and presentation.(7)

Accepted Answer

A) Use bullet points for succinctness and emphasis. 
B) Use different color fonts or paper to represent different sections of your plan. 
C) Include as an attachment formal resumes for all key players in your management team. 
D) Do not use a business plan unless you are borrowing at least $100,000. 
E) Set a firm date by which you will require an answer from a potential investor, after which you will take your plan somewhere else. 
A) Use bullet points for succinctness and emphasis. 
B) Use different color fonts or paper to represent different sections of your plan. 
C) Include as an attachment formal resumes for all key players in your management team. 
D) Do not use a business plan unless you are borrowing at least $100,000. 
E) Set a firm date by which you will require an answer from a potential investor, after which you will take your plan somewhere else.

Question 3

To help buyers see the many different uses for Howlin' coyote chili, the company has

Accepted Answer

A) sponsored a recipe contest with the first prize being a trip for two to Mexico. 
B) offered recipes on the inside of the packages, at in-store demonstrations, and on coupons. 
C) used a "buy-one-get-one-free" promotion. 
D) sponsored a series of short but informative commercials on the Cooking Channel. 
E) published small full-color illustrated pamphlets as buyer incentives to its wholesalers. 
A) sponsored a recipe contest with the first prize being a trip for two to Mexico. 
B) offered recipes on the inside of the packages, at in-store demonstrations, and on coupons. 
C) used a "buy-one-get-one-free" promotion. 
D) sponsored a series of short but informative commercials on the Cooking Channel. 
E) published small full-color illustrated pamphlets as buyer incentives to its wholesalers.

Question 4

The Company Analysis provides details of the company's strengths and marketing strategies that will enable it to achieve the mission and goals identified earlier.Paradise Kitchens Inc.lists a major strength as __________ and a major marketing strategy of __________.

Accepted Answer

A) a stable financial base; selling its products exclusively through food wholesalers 
B) strong connections to the Hispanic community; outsourcing all production 
C) co-ownership in a chain of small grocery stores; purchasing only organic vegetables and grains 
D) the professional food industry experience of the co-founders; the use of a single outside producer 
E) national "chili cook-off" titles; creating two separate product lines to adapt to markets requiring more or less "heat" 
A) a stable financial base; selling its products exclusively through food wholesalers 
B) strong connections to the Hispanic community; outsourcing all production 
C) co-ownership in a chain of small grocery stores; purchasing only organic vegetables and grains 
D) the professional food industry experience of the co-founders; the use of a single outside producer 
E) national "chili cook-off" titles; creating two separate product lines to adapt to markets requiring more or less "heat"

Question 5

The Financial Data and Projections section for Paradise Kitchens Inc.'s includes __________ and __________.

Accepted Answer

A) past sales revenues; current sales revenues 
B) current sales revenues; revenues projected for the next year 
C) current sales revenues; revenues projected for the next five years 
D) past sales revenues; revenues projected for the next five years 
E) current debt; requested financing 
A) past sales revenues; current sales revenues 
B) current sales revenues; revenues projected for the next year 
C) current sales revenues; revenues projected for the next five years 
D) past sales revenues; revenues projected for the next five years 
E) current debt; requested financing

Question 6

Which of the following did Paradise Kitchens Inc.considered an external opportunity?

Accepted Answer

A) unique, high-quality, high-price products 
B) many lower-quality, lower-price competitors 
C) lack economies of scale of huge competitors 
D) consumer income is high and convenience is important to U.S.households 
E) more households "eating out," and bringing prepared take-out into home 
A) unique, high-quality, high-price products 
B) many lower-quality, lower-price competitors 
C) lack economies of scale of huge competitors 
D) consumer income is high and convenience is important to U.S.households 
E) more households "eating out," and bringing prepared take-out into home

Question 7

The two key elements of the Paradise Kitchens Inc.Customer Analysis include

Accepted Answer

A) Customer Characteristics and Target Market Demographics. 
B) Consumer Demographics and Geographical Distribution. 
C) Consumer Demographics and Consumer Psychographics. 
D) Customer Characteristics and Health and Nutrition Concerns. 
E) Consumer Psychographics and Consumer Life Style data. 
A) Customer Characteristics and Target Market Demographics. 
B) Consumer Demographics and Geographical Distribution. 
C) Consumer Demographics and Consumer Psychographics. 
D) Customer Characteristics and Health and Nutrition Concerns. 
E) Consumer Psychographics and Consumer Life Style data.

Question 8

Which of the following statements is best suited for a business or marketing plan?

Accepted Answer

A) This will be a fantastic once in a lifetime opportunity in the amazing world of chocolate lovers. 
B) This product offers a unique opportunity to meet the needs of consumers who love the flavor of chocolate but who are allergic to cocoa. 
C) What could be better than chocolate? Nothing! That's why this is a phenomenal opportunity for those who really understand the exciting world of chocolate. 
D) We are not kidding.This new non-cocoa chocolate candy is simply irresistible; everyone we gave a sample to, fell in love with it. 
E) The fact that this chocolate flavored candy does not contain cocoa should be a selling point. 
A) This will be a fantastic once in a lifetime opportunity in the amazing world of chocolate lovers. 
B) This product offers a unique opportunity to meet the needs of consumers who love the flavor of chocolate but who are allergic to cocoa. 
C) What could be better than chocolate? Nothing! That's why this is a phenomenal opportunity for those who really understand the exciting world of chocolate. 
D) We are not kidding.This new non-cocoa chocolate candy is simply irresistible; everyone we gave a sample to, fell in love with it. 
E) The fact that this chocolate flavored candy does not contain cocoa should be a selling point.

Question 9

Elements in a marketing plan depend on who the audience is and what the purpose is.For example, the marketing plan for an internal audience would __________ while the marketing plan for an external audience, the marketing plan would __________.

Accepted Answer

A) be informally written; be formally written 
B) contain specific financial details; give a broad general overview 
C) point the direction for future marketing activities; function as a sales document 
D) explain organization and structure; be sent to all individuals who would be affected by the plan 
E) provide biographical information of key players; include financial projections 
A) be informally written; be formally written 
B) contain specific financial details; give a broad general overview 
C) point the direction for future marketing activities; function as a sales document 
D) explain organization and structure; be sent to all individuals who would be affected by the plan 
E) provide biographical information of key players; include financial projections

Question 10

There is no single "generic" marketing plan that can apply to all organizations or all institutions.Rather, the specific format for a marketing plan for an organization depends on the following: the industry, the kind and complexity of the organization, and

Accepted Answer

A) the time frame. 
B) the competition. 
C) available resources. 
D) the target audience and purpose. 
E) the financial investment needed. 
A) the time frame. 
B) the competition. 
C) available resources. 
D) the target audience and purpose. 
E) the financial investment needed.

Question 11

Paradise Kitchen's Strategic Focus and Plan contained three key elements:

Accepted Answer

A) the mission, goals, and core competence/sustainable competitive advantage. 
B) the mission, goals, and organizational structure. 
C) an executive summary, a company description, and a financial overview. 
D) organizational structure, core competence/sustainable competitive advantage, and forecast of potential profits. 
E) the organizations key players, the organizational structure, and the competence/sustainable competitive advantage. 
A) the mission, goals, and core competence/sustainable competitive advantage. 
B) the mission, goals, and organizational structure. 
C) an executive summary, a company description, and a financial overview. 
D) organizational structure, core competence/sustainable competitive advantage, and forecast of potential profits. 
E) the organizations key players, the organizational structure, and the competence/sustainable competitive advantage.

Question 12

The Paradise Kitchens Inc.describes their primary target market for Howlin' Coyote products as households with one to three people, where often both adults work, and with individual income typically above __________ per year.

Accepted Answer

A) $40,000 
B) $50,000 
C) $75,000 
D) $100,000 
E) More than $100,000 
A) $40,000 
B) $50,000 
C) $75,000 
D) $100,000 
E) More than $100,000

Question 13

The target audience and purpose affect the format of a business or marketing plan.For example, elements such as degree of detail should reflect the

Accepted Answer

A) size and complexity of the organization. 
B) educational background of the investors. 
C) investment potential of backers. 
D) degree to how well you know your audience. 
E) whether the plan is for a product or service. 
A) size and complexity of the organization. 
B) educational background of the investors. 
C) investment potential of backers. 
D) degree to how well you know your audience. 
E) whether the plan is for a product or service.

Question 14

A(n) __________ helps communicate the company's unique points of difference of its products to prospective customers in a simple, clear way.

Accepted Answer

A) positioning strategy 
B) market-product strategy 
C) competition grid 
D) implementation strategy 
E) organizational grid 
A) positioning strategy 
B) market-product strategy 
C) competition grid 
D) implementation strategy 
E) organizational grid

Question 15

Elements in a marketing plan depend on who the audience is and what the purpose is.For example, the marketing plan for an internal audience would point the direction for future marketing while the marketing plan for an external audience would

Accepted Answer

A) give a broad general overview. 
B) point the direction for future marketing activities. 
C) be more informally written. 
D) include the strategic plan/focus of the organization. 
E) be directed to the people who would be affected by it. 
A) give a broad general overview. 
B) point the direction for future marketing activities. 
C) be more informally written. 
D) include the strategic plan/focus of the organization. 
E) be directed to the people who would be affected by it.

Question 16

In terms of paragraph style, most readers prefer

Accepted Answer

A) block style because the appearance is cleaner. 
B) block style because it seems more professional. 
C) block style because it lends itself better to financial documents. 
D) indented paragraphs because they make longer documents easier to read. 
E) indented paragraphs because they are more in keeping with professional prose. 
A) block style because the appearance is cleaner. 
B) block style because it seems more professional. 
C) block style because it lends itself better to financial documents. 
D) indented paragraphs because they make longer documents easier to read. 
E) indented paragraphs because they are more in keeping with professional prose.

Question 17

Gantt charts are often used to __________ and __________.

Accepted Answer

A) prioritize marketing activities; set deadlines 
B) assign tactical marketing decisions; specify target markets 
C) prioritize marketing activities; assign resources 
D) specify target markets; assign resources 
E) set deadlines; assign responsibilities for tactical marketing decisions 
A) prioritize marketing activities; set deadlines 
B) assign tactical marketing decisions; specify target markets 
C) prioritize marketing activities; assign resources 
D) specify target markets; assign resources 
E) set deadlines; assign responsibilities for tactical marketing decisions

Question 18

The SWOT analysis identifies a company's

Accepted Answer

A) significant weaknesses or threats. 
B) strengths, weaknesses, opportunities, and threats. 
C) significant worries from outside threats. 
D) barriers to competition. 
E) sustainable competitive advantages. 
A) significant weaknesses or threats. 
B) strengths, weaknesses, opportunities, and threats. 
C) significant worries from outside threats. 
D) barriers to competition. 
E) sustainable competitive advantages.

Question 19

41 To the Company's knowledge, Paradise Kitchens is known for being the only premium-quality frozen __________ .sold in U.S.grocery stores.Their goal is to extend their brand to other products such as __________.

Accepted Answer

A) desserts for dogs; salmon patties for cats 
B) dim sum; lobster rolls and red bean dumplings 
C) chili; tacos, enchiladas, and burritos 
D) sushi grade fish; do-it-yourself sushi kits that can be prepared at home 
E) vitamin pops; medicated ice pops for sore throats 
A) desserts for dogs; salmon patties for cats 
B) dim sum; lobster rolls and red bean dumplings 
C) chili; tacos, enchiladas, and burritos 
D) sushi grade fish; do-it-yourself sushi kits that can be prepared at home 
E) vitamin pops; medicated ice pops for sore throats

Question 20

To improve readability, ideally, each numbered section should start

Accepted Answer

A) with all capital letters. 
B) on a new page. 
C) in a font size at least 3 points higher than the body of the text. 
D) either capitalized and bolded or italicized and underlined. 
E) with a brief introduction of what will be discussed. 
A) with all capital letters. 
B) on a new page. 
C) in a font size at least 3 points higher than the body of the text. 
D) either capitalized and bolded or italicized and underlined. 
E) with a brief introduction of what will be discussed.

Which of the following statements about marketing plans is most accurate?

To help buyers see the many different uses for Howlin' coyote chili, the company has

The Company Analysis provides details of the company's strengths and marketing strategies that will enable it to achieve the mission and goals identified earlier.Paradise Kitchens Inc.lists a major strength as and a major marketing strategy of .

The Financial Data and Projections section for Paradise Kitchens Inc.'s includes and .

Which of the following did Paradise Kitchens Inc.considered an external opportunity?

The two key elements of the Paradise Kitchens Inc.Customer Analysis include

Which of the following statements is best suited for a business or marketing plan?

Elements in a marketing plan depend on who the audience is and what the purpose is.For example, the marketing plan for an internal audience would while the marketing plan for an external audience, the marketing plan would .

There is no single "generic" marketing plan that can apply to all organizations or all institutions.Rather, the specific format for a marketing plan for an organization depends on the following: the industry, the kind and complexity of the organization, and

Paradise Kitchen's Strategic Focus and Plan contained three key elements:

The Paradise Kitchens Inc.describes their primary target market for Howlin' Coyote products as households with one to three people, where often both adults work, and with individual income typically above __________ per year.

The target audience and purpose affect the format of a business or marketing plan.For example, elements such as degree of detail should reflect the

A(n) __________ helps communicate the company's unique points of difference of its products to prospective customers in a simple, clear way.

Elements in a marketing plan depend on who the audience is and what the purpose is.For example, the marketing plan for an internal audience would point the direction for future marketing while the marketing plan for an external audience would

In terms of paragraph style, most readers prefer

Gantt charts are often used to and .

The SWOT analysis identifies a company's

41 To the Company's knowledge, Paradise Kitchens is known for being the only premium-quality frozen .sold in U.S.grocery stores.Their goal is to extend their brand to other products such as .

To improve readability, ideally, each numbered section should start

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Filters

Exam 18: Building an Effective Marketing Plan

Which of the following statements about marketing plans is most accurate?

To help buyers see the many different uses for Howlin' coyote chili, the company has

The Company Analysis provides details of the company's strengths and marketing strategies that will enable it to achieve the mission and goals identified earlier.Paradise Kitchens Inc.lists a major strength as __________ and a major marketing strategy of __________.

The Financial Data and Projections section for Paradise Kitchens Inc.'s includes __________ and __________.

Which of the following did Paradise Kitchens Inc.considered an external opportunity?

The two key elements of the Paradise Kitchens Inc.Customer Analysis include

Which of the following statements is best suited for a business or marketing plan?

Elements in a marketing plan depend on who the audience is and what the purpose is.For example, the marketing plan for an internal audience would __________ while the marketing plan for an external audience, the marketing plan would __________.

There is no single "generic" marketing plan that can apply to all organizations or all institutions.Rather, the specific format for a marketing plan for an organization depends on the following: the industry, the kind and complexity of the organization, and

Paradise Kitchen's Strategic Focus and Plan contained three key elements:

The Paradise Kitchens Inc.describes their primary target market for Howlin' Coyote products as households with one to three people, where often both adults work, and with individual income typically above __________ per year.

The target audience and purpose affect the format of a business or marketing plan.For example, elements such as degree of detail should reflect the

A(n) __________ helps communicate the company's unique points of difference of its products to prospective customers in a simple, clear way.

Elements in a marketing plan depend on who the audience is and what the purpose is.For example, the marketing plan for an internal audience would point the direction for future marketing while the marketing plan for an external audience would

In terms of paragraph style, most readers prefer

Gantt charts are often used to __________ and __________.

The SWOT analysis identifies a company's

41 To the Company's knowledge, Paradise Kitchens is known for being the only premium-quality frozen __________ .sold in U.S.grocery stores.Their goal is to extend their brand to other products such as __________.

To improve readability, ideally, each numbered section should start

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Filters

The Company Analysis provides details of the company's strengths and marketing strategies that will enable it to achieve the mission and goals identified earlier.Paradise Kitchens Inc.lists a major strength as and a major marketing strategy of .

The Financial Data and Projections section for Paradise Kitchens Inc.'s includes and .

Elements in a marketing plan depend on who the audience is and what the purpose is.For example, the marketing plan for an internal audience would while the marketing plan for an external audience, the marketing plan would .

Gantt charts are often used to and .

41 To the Company's knowledge, Paradise Kitchens is known for being the only premium-quality frozen .sold in U.S.grocery stores.Their goal is to extend their brand to other products such as .