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 ten years into the future. 
B) It is important to use the exact market plan format regardless of the product or industry. 
C) 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. 
D) Although the target audience and purpose affect the design of a marketing plan,the type of industry plays a relatively small,if any,role in its design. 
E) In truth,no single "generic" marketing plan applies to all organizations or all situations. 
A) A marketing plan has little or no value unless it projects plans at least ten years into the future. 
B) It is important to use the exact market plan format regardless of the product or industry. 
C) 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. 
D) Although the target audience and purpose affect the design of a marketing plan,the type of industry plays a relatively small,if any,role in its design. 
E) In truth,no single "generic" marketing plan applies to all organizations or all situations.

Question 2

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Accepted Answer

A) Do not use a business plan unless you plan to borrow at least $100,000. 
B) Include as attachment the résumés for all key players in your management team. 
C) To save paper,send the plan in digital (Adobe Acrobat PDF)format to all potential investors. 
D) Use numbers for impact. 
E) Use different color fonts or paper to represent different sections of your plan. 
A) Do not use a business plan unless you plan to borrow at least $100,000. 
B) Include as attachment the résumés for all key players in your management team. 
C) To save paper,send the plan in digital (Adobe Acrobat PDF)format to all potential investors. 
D) Use numbers for impact. 
E) Use different color fonts or paper to represent different sections of your plan.

Question 3

The format for a marketing plan for an organization depends on the following: (1)__________; (2)the kind and complexity of the organization;and (3)the industry.

Accepted Answer

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

Question 4

In terms of paragraph style,most readers prefer

Accepted Answer

A) block style because the appearance of the text 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 business prose. 
A) block style because the appearance of the text 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 business prose.

Question 5

Which of the following statements regarding bullet points in a marketing plan is MOST ACCURATE?

Accepted Answer

A) Avoid using bullet points whenever possible because they distract the reader. 
B) If possible,change the shape of the bullet point (circle,star,square,etc. )whenever you change topics. 
C) Bullet points should be used with all major headings to help draw attention to them. 
D) Bullet points enable key points to be highlighted effectively in a list form. 
E) Bullet points make it easier to highlight points that require long explanations. 
A) Avoid using bullet points whenever possible because they distract the reader. 
B) If possible,change the shape of the bullet point (circle,star,square,etc. )whenever you change topics. 
C) Bullet points should be used with all major headings to help draw attention to them. 
D) Bullet points enable key points to be highlighted effectively in a list form. 
E) Bullet points make it easier to highlight points that require long explanations.

Question 6

Paradise Kitchen's Strategic Focus and Plan section of the marketing plan contained three key elements:

Accepted Answer

A) mission,goals,and core competency/sustainable competitive advantage. 
B) mission,goals,and organizational structure. 
C) executive summary,company description,and financial overview. 
D) organizational structure,core competency/sustainable competitive advantage,and forecast of potential profits. 
E) organization's key players,organizational structure,and competency/sustainable competitive advantage. 
A) mission,goals,and core competency/sustainable competitive advantage. 
B) mission,goals,and organizational structure. 
C) executive summary,company description,and financial overview. 
D) organizational structure,core competency/sustainable competitive advantage,and forecast of potential profits. 
E) organization's key players,organizational structure,and competency/sustainable competitive advantage.

Question 7

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) used a "buy-one-get-one-free" (BOGO)promotion. 
C) sponsored a series of short but informative commercials on the Cooking Channel. 
D) published small full-color illustrated pamphlets as buyer incentives to its wholesalers. 
E) printed recipes on the inside of its packaging. 
A) sponsored a recipe contest with the first prize being a trip for two to Mexico. 
B) used a "buy-one-get-one-free" (BOGO)promotion. 
C) sponsored a series of short but informative commercials on the Cooking Channel. 
D) published small full-color illustrated pamphlets as buyer incentives to its wholesalers. 
E) printed recipes on the inside of its packaging.

Question 8

The Financial Data and Projections section of the marketing plan for Paradise Kitchens includes two subsections,which are __________ 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 9

For the benefit of its audience,Paradise Kitchens divided its goals into

Accepted Answer

A) product and process 
B) product and service 
C) internal and external 
D) employee and customer 
E) financial and nonfinancial 
A) product and process 
B) product and service 
C) internal and external 
D) employee and customer 
E) financial and nonfinancial

Question 10

The three key elements of the Promotion Strategy section in the Paradise Kitchens marketing plan include

Accepted Answer

A) quantity discounts,in-store demonstrations,and buy-one-get-one-free promotions. 
B) bundle pricing with a chili bowl,in-store demonstrations,and cents-off coupons. 
C) a chili eating contest,in-store demonstrations,and cents-off coupons. 
D) a contest for the best new slogan,a chili eating contest,and free taste tests at major grocery chains. 
E) in-store demonstrations,recipes,and cents-off coupons. 
A) quantity discounts,in-store demonstrations,and buy-one-get-one-free promotions. 
B) bundle pricing with a chili bowl,in-store demonstrations,and cents-off coupons. 
C) a chili eating contest,in-store demonstrations,and cents-off coupons. 
D) a contest for the best new slogan,a chili eating contest,and free taste tests at major grocery chains. 
E) in-store demonstrations,recipes,and cents-off coupons.

Question 11

Which of the following statements is written in the best writing style for a business or marketing plan?

Accepted Answer

A) We have found three different groups that could benefit from our new software. 
B) Being that teachers,social workers,and nurses can use this software,it will offer great opportunities. 
C) There are three potential target markets for this software: teachers,social workers,and nurses. 
D) There is a target market of teachers;there is a target market of social workers;and there is a target market of nurses as well,who might benefit if we get the opportunity to bring this product to the public. 
E) The fact that there are three different "money makers" to shoot for should be a selling point. 
A) We have found three different groups that could benefit from our new software. 
B) Being that teachers,social workers,and nurses can use this software,it will offer great opportunities. 
C) There are three potential target markets for this software: teachers,social workers,and nurses. 
D) There is a target market of teachers;there is a target market of social workers;and there is a target market of nurses as well,who might benefit if we get the opportunity to bring this product to the public. 
E) The fact that there are three different "money makers" to shoot for should be a selling point.

Question 12

Paradise Kitchens uses the following type face/font style choices: Customer Analysis (A-level: bold)and Customer Characteristics (B-level: bold/italics)to indicate that

Accepted Answer

A) Customer Characteristics and Customer Analysis are synonymous and can be used interchangeably. 
B) Customer Analysis is a subcategory of Customer Characteristics. 
C) Customer Analysis is the name of a secondary source and Customer Characteristics refers to internally-collected primary data. 
D) Customer Analysis is the formal marketing term and Customer Characteristics is the layman's term. 
E) Customer Characteristics is a subcategory of Customer Analysis. 
A) Customer Characteristics and Customer Analysis are synonymous and can be used interchangeably. 
B) Customer Analysis is a subcategory of Customer Characteristics. 
C) Customer Analysis is the name of a secondary source and Customer Characteristics refers to internally-collected primary data. 
D) Customer Analysis is the formal marketing term and Customer Characteristics is the layman's term. 
E) Customer Characteristics is a subcategory of Customer Analysis.

Question 13

The industry within which a product will compete should affect the format of an organization's business or marketing plan.However,since the complexities of products can differ greatly,__________ differ.

Accepted Answer

A) the size of the potential work force included in their plans 
B) the investment potential of investors included in their plans 
C) the experience of the key personnel demonstrated in their plans 
D) the time periods likely to be covered by their plans 
E) the knowledge of technical language used in their plans 
A) the size of the potential work force included in their plans 
B) the investment potential of investors included in their plans 
C) the experience of the key personnel demonstrated in their plans 
D) the time periods likely to be covered by their plans 
E) the knowledge of technical language used in their plans

Question 14

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 15

To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key

Accepted Answer

A) lenders and venture capitalists 
B) suppliers and distributors 
C) advertising agencies and public relations firms 
D) federal and state regulators to import tariff free ingredients 
E) Hispanic spokespeople to "get the word out." 
A) lenders and venture capitalists 
B) suppliers and distributors 
C) advertising agencies and public relations firms 
D) federal and state regulators to import tariff free ingredients 
E) Hispanic spokespeople to "get the word out."

Question 16

Which of the following statements regarding marketing and business plans is MOST ACCURATE?

Accepted Answer

A) In contrast to a marketing plan,a business plan is a road map for the entire organization for a specified future period of time,such as one year or five years. 
B) In contrast to a business plan,a marketing plan is a road map for the entire organization for a specified future period of time,such as one year or five years. 
C) A marketing plan contains a greater degree of detail regarding research and development,operations,and manufacturing activities of the organization. 
D) A business plan is used for industrial products and a marketing plan is used for consumer products. 
E) A business plan is used for manufactured products and a marketing plan is used for services. 
A) In contrast to a marketing plan,a business plan is a road map for the entire organization for a specified future period of time,such as one year or five years. 
B) In contrast to a business plan,a marketing plan is a road map for the entire organization for a specified future period of time,such as one year or five years. 
C) A marketing plan contains a greater degree of detail regarding research and development,operations,and manufacturing activities of the organization. 
D) A business plan is used for industrial products and a marketing plan is used for consumer products. 
E) A business plan is used for manufactured products and a marketing plan is used for services.

Question 17

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Accepted Answer

A) Use different color fonts or paper to represent different sections of your plan. 
B) Do not use a business plan unless you plan to borrow at least $100,000. 
C) Include as an attachment the résumés for all key players in your management team. 
D) Set a firm date by which you will require an answer from a potential investor,after which you will take your plan somewhere else. 
E) Use care in layout,design,and presentation. 
A) Use different color fonts or paper to represent different sections of your plan. 
B) Do not use a business plan unless you plan to borrow at least $100,000. 
C) Include as an attachment the résumés for all key players in your management team. 
D) Set a firm date by which you will require an answer from a potential investor,after which you will take your plan somewhere else. 
E) Use care in layout,design,and presentation.

Question 18

The Implementation Plan

Accepted Answer

A) describes the formation of the marketing program. 
B) displays the projected financial results of the plan. 
C) shows how the company will turn plans into results. 
D) identifies how the firm will select its target markets and position its products. 
E) analyzes its marketing opportunities and threats. 
A) describes the formation of the marketing program. 
B) displays the projected financial results of the plan. 
C) shows how the company will turn plans into results. 
D) identifies how the firm will select its target markets and position its products. 
E) analyzes its marketing opportunities and threats.

Question 19

The Industry Analysis section of a marketing plan provides perspective for information regarding

Accepted Answer

A) the competition,the economy,and the company's customers. 
B) the company,the economy,and the company's customers. 
C) current trends,the competition,and the economy. 
D) current trends,projected changes,competitive advantages. 
E) the competition,the company,and the company's customers. 
A) the competition,the economy,and the company's customers. 
B) the company,the economy,and the company's customers. 
C) current trends,the competition,and the economy. 
D) current trends,projected changes,competitive advantages. 
E) the competition,the company,and the company's customers.

Question 20

Paradise Kitchens included a detailed figure to highlight its SWOT analysis.However,

Accepted Answer

A) there was no further explanation or written summary. 
B) it was complemented by a short,but more in-depth,discussion of important points. 
C) it failed to perform a situation analysis. 
D) it did not include an industry analysis. 
E) it also included a page long explanation of each of the four factors. 
A) there was no further explanation or written summary. 
B) it was complemented by a short,but more in-depth,discussion of important points. 
C) it failed to perform a situation analysis. 
D) it did not include an industry analysis. 
E) it also included a page long explanation of each of the four factors.

Exam 23: Building an Effective Marketing Plan

Which of the following statements about marketing plans is MOST ACCURATE?

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

The format for a marketing plan for an organization depends on the following: (1)__________; (2)the kind and complexity of the organization;and (3)the industry.

In terms of paragraph style,most readers prefer

Which of the following statements regarding bullet points in a marketing plan is MOST ACCURATE?

Paradise Kitchen's Strategic Focus and Plan section of the marketing plan contained three key elements:

To help buyers see the many different uses for Howlin' Coyote Chili,the company has

The Financial Data and Projections section of the marketing plan for Paradise Kitchens includes two subsections,which are __________ and __________.

For the benefit of its audience,Paradise Kitchens divided its goals into

The three key elements of the Promotion Strategy section in the Paradise Kitchens marketing plan include

Which of the following statements is written in the best writing style for a business or marketing plan?

Paradise Kitchens uses the following type face/font style choices: Customer Analysis (A-level: bold)and Customer Characteristics (B-level: bold/italics)to indicate that

The industry within which a product will compete should affect the format of an organization's business or marketing plan.However,since the complexities of products can differ greatly,__________ differ.

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

To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key

Which of the following statements regarding marketing and business plans is MOST ACCURATE?

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

The Implementation Plan

The Industry Analysis section of a marketing plan provides perspective for information regarding

Paradise Kitchens included a detailed figure to highlight its SWOT analysis.However,

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing 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

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Financial Aspects of Marketing

Filters

The Financial Data and Projections section of the marketing plan for Paradise Kitchensincludes two subsections,which are and .

Paradise Kitchensuses the following type face/font style choices: Customer Analysis (A-level: bold)and Customer Characteristics (B-level: bold/italics)to indicate that