Deck 19: Buildign an Effective Marketing Plan

Question 1

The format for a marketing plan for an organization depends on the following: (1)the target audience and purpose; (2)__________; and (3)the industry.

A)the time frame
B)the competition
C)the available resources
D)the financial investment needed
E)the kind and complexity of the organization

Answer 1

E

Question 2

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

A)be informally written
B)contain specific financial details
C)point the direction for future marketing activities
D)explain organization and structure
E)provide biographical information of key players

Answer 2

C

Question 3

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

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.

Answer 3

E

Question 4

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 target audience and purpose,the kind and complexity of the organization,and

A)the financial investment needed.
B)the time frame.
C)available resources.
D)the industry.
E)the competition.

Question 5

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.

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

Question 6

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

A)Does the prospective product meet all government safety standards?
B)Who is your competition and what are they doing?
C)Who will be your key suppliers?
D)What are your taxes?
E)Is there something unique or distinctive about the product or service that separates it from substitutes and competitors?

Question 7

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

A)the financial investment needed
B)the time frame
C)the available resources
D)the industry
E)the competition

Question 8

While there are several different groups of stakeholders who are likely to read a business or marketing plan,which group is likely to be the most critical of these documents?

A)potential employees
B)potential customers
C)potential suppliers
D)future distributors,wholesalers,and retailers
E)possible investors or lenders

Question 9

A __________ is a road map for the marketing activities of an organization for a specified future time period,such as one year or five years.

A)marketing plan
B)mission statement
C)operation plan
D)business plan
E)marketing dashboard

Question 10

A __________ is a road map for the entire organization for a specified future period of time,such as one year or five years.

A)marketing dashboard
B)strategic plan
C)operation plan
D)business plan
E)marketing metric

Question 11

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

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

Question 12

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

A)give a broad general overview
B)function as a sales document
C)be more informally written
D)be directed to the people who would be affected by it
E)be directed to the people who must implement the plan

Question 13

A key difference between a marketing plan and a business plans is that

A)a marketing plan is used for consumer products and a business plan is used for industrial products.
B)a marketing plan contains a greater degree of detail regarding research and development,operations,and manufacturing activities of the organization.
C)a business plan contains a greater degree of detail regarding research and development,operations,and manufacturing activities of the organization.
D)a marketing plan covers a greater length of time for its financial projections.
E)a business plan covers a greater length of time for its financial projections.

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 target audience and purpose,and

A)the time frame.
B)the competition.
C)available resources.
D)the financial investment needed.
E)the kind and complexity of the organization.

Question 15

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.

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 16

Which of the following statements regarding marketing and business plans is most accurate?

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

According to Arthur R.Kydd,CEO of St.Croix Venture Partners,what sets a potential successful idea,product,or technology apart from all the rest is __________ and __________.

A)time; money
B)markets; marketing
C)creativity; hard work
D)originality; financial backing
E)R&D; products

Question 18

Arthur R.Kydd,CEO of St.Croix Venture Partners,receives 200 to 300 requests for venture capital or seed money each year and only selects two or three to invest in.He believes if you have a real product with a distinctive point of difference that satisfies the needs of customers,you may have a winner.The way to demonstrate this to him is to

A)create a prototype and test it in the real world.
B)submit a quality résumé that demonstrates the likelihood of future success.
C)develop a well-written marketing or business plan.
D)make a list of all the other ideas you have,including this one.
E)ask for an informal interview.

Question 19

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

A)Does the prospective product meet all government safety standards?
B)Who is your competition and what are they doing?
C)Who will be your key suppliers?
D)Is the business or marketing idea valid?
E)What are your taxes?

Question 20

The target audience and purpose affect the format of a business or marketing plan.For example,an element such as the level of detail should reflect __________.

A)the kind and complexity of the organization
B)the educational background of the key personnel
C)the investment potential of the investors
D)how well you know your audience
E)whether the plan is for a product or service

Question 21

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?

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)Shoot for a plan that is 15 to 35 pages in length,excluding financial projections and appendixes.
D)Include as an attachment the résumés for all key players in your management team.
E)To save paper,send the plan in digital (Adobe Acrobat PDF)format to all potential investors.

Question 22

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?

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

Question 23

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

A)Are the financial projections realistic and healthy?
B)Does the prospective product meet all government safety standards?
C)Who is your competition and what are they doing?
D)Who will be your key suppliers?
E)What are your taxes?

Question 24

The Table of Contents is usually found

A)as soon as you open the cover.
B)on the cover of the plan.
C)immediately after the executive summary.
D)between the executive summary and the company description.
E)immediately before the executive summary.

Question 25

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?

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

Question 26

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?

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

Question 27

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

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 28

The single most important
section of the marketing plan (usually only two pages long)that "sells" the plan to readers is called the __________.

A)executive summary
B)strategic plan
C)vision statement
D)overview of financial projections
E)synopsis

Question 29

It is helpful to use A-level (the first level)and B-level (the second level)headings under the numbered section headings of marketing and business plans to help readers make easy transitions form one topic to another.These headings should

A)be used liberally,at least one every 200 to 300 words.
B)only be used in marketing plans and not in business plans.
C)only be used in business plans and not in marketing plans.
D)be used sparingly,otherwise they lose their cohesiveness and effectiveness.
E)continue in traditional outline form all the way through E-level (the fifth level)if needed,but no further.

Question 30

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?

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 31

Which of the following statements regarding visuals is most accurate?

A)Visuals should not be used unless they are in black and white; color is not considered professional in a formal business plan.
B)Visuals should be used sparingly because it is assumed that if you cannot explain an idea in words,you don't have a sufficient grasp of your product.
C)Visuals such as illustrations,graphs,and charts are acceptable; photos are less professional and should be avoided.
D)Visuals such as photos,illustrations,graphs,and charts enable massive amounts of information to be presented succinctly.
E)Visuals should appear in the appendices of the plan,never in the body of the plan itself.

Question 32

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

A)Does the prospective product meet all government safety standards?
B)Is there a clear market for the product or service?
C)Who is your competition and what are they doing?
D)Who will be your key suppliers?
E)What are your taxes?

Question 33

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?

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 34

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?

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)Be positive and specific to convey potential success.
D)Include as an attachment the résumés for all key players in your management team.
E)To save paper,send the plan in digital (Adobe Acrobat PDF)format to all potential investors.

Question 35

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

A)Who is your competition and what are they doing?
B)Who will be your key suppliers?
C)Does the plan clearly describe how those providing capital will get their money back and make a profit?
D)What are your taxes?
E)Does the prospective product meet all government safety standards?

Question 36

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

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 37

In addition to quality content,a plan's layout and design are also important.Which of the following statements is most accurate?

A)Fonts that are serif type should be used within the body of the plan and sans serif type should be used with charts and graphs.
B)Fonts that are sans serif are easier to read and should be used in the body of the plan.
C)Ink-jet printers are preferable to laser printers.
D)The font size should change with the importance of the material.Important material should be at least 14 points and go as small as 10.5 points for less important details.
E)There should be a different font style for each new section within the plan provided no more than five distinct fonts are used.

Question 38

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?

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 the résumés for all key players in your management team.
D)Do not use a business plan unless you plan to borrow at least $100,000.
E)To save paper,send the plan in digital (Adobe Acrobat PDF)format to all potential investors.

Question 39

Which of the following statements regarding bullet points in a marketing plan is most accurate?

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 40

Which of the following statements regarding business or market plan page length is most accurate?

A)As a quick rule of thumb,there should be one page for every $10,000 required in the projected budget.
B)The length of a business plan should never be less than 30 pages or greater than 35 pages in length.
C)The length of the body of the plan should be between 15 and 30 pages including financial projections and appendixes.
D)For every page in the body of the work,there should be at least one additional page in the appendix to complement it.
E)Although general guidelines suggest a length of 15 to 35 pages,the length of the plan should reflect the complexity of the product or service.

Question 41

The qualitative mission statement focuses the activities of Paradise Kitchens for its __________.

A)brands
B)competitors
C)regulators
D)stakeholders
E)ideas

Question 42

Which of the following goals uses parallel construction?

A)Make the best non-battery flashlight possible,make the brand name known in every household in the United States,and make the flashlight the official flashlight of every state-owned hospital in the United States.
B)To make the finest bicycles in the professional racing field,to attain sponsorship from at least three top Olympic riders,and obtain a return on equity of at least 15 percent.
C)Enter three major markets in the next three years,maintain a market share above 20 percent,while continuing to provide the best customer service according to industry polls.
D)To increase market share by at least 10 percent each year for the next five years,reduce employee turnover by 20 percent within the next five years,and to obtain a return on equity of at least 15 percent for each of the next five years.
E)Generate sales of $100 million,generate ROI of 20%,and maintaining selling costs at 10% of sales.

Question 43

Shorter tables or graphs

A)must start at the top of a new page so as not to create page break problems.
B)can be inserted anywhere in the page of text in a plan and do not have figure numbers.
C)should not be used since words would be more effective in describing the content than a table or graph.
D)be at least 2" but not more than 5" in height.
E)are more for style than for substance.

Question 44

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

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 45

Which of the following did Paradise Kitchens considered a Threat?

A)unique,high-quality,high-price products
B)many lower-quality,lower-price competitors
C)technical breakthroughs enable smaller food producers to achieve many economies available to large 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 the home

Question 46

Ideally,each numbered section should start __________ to improve readability.

A)with all capital letters
B)on a new page
C)in a font size at least 3 points larger 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

Question 47

The effectiveness of a table is determined by its ability to

A)include every possible piece of information available.
B)catch the reader's attention with its design and sophistication.
C)create a powerful visual metaphor.
D)summarize a large amount of information in a short amount of space.
E)clarify difficult financial information or calculations.

Question 48

Which of the following does Paradise Kitchens consider a Strength?

A)unique,high-quality,high-price products
B)many lower-quality,lower-price competitors
C)lack the 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 the home

Question 49

The SWOT analysis section of a marketing plan identifies a company's

A)new technological innovations.
B)strengths,weaknesses,opportunities,and threats.
C)marketing program.
D)barriers to entry.
E)sustainable competitive advantages.

Question 50

For readability and clarity,Paradise Kitchens presents its SWOT analysis section of a marketing plan as a figure (Figure 1.SWOT Analysis for Paradise Kitchens).It's divided into two sections:

A)Company Analysis; Industry Analysis.
B)Internal Factors: Opportunities and Threats; External Factors: Strengths and Weaknesses.
C)Internal Factors: Strengths and Weaknesses; External Factors: Opportunities and Threats.
D)Financial Factors; Nonfinancial Factors.
E)Domestic Issues; Global Issues.

Question 51

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

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.

Question 52

Which of the following did Paradise Kitchens considered an Opportunity?

A)unique,high-quality,high-price products
B)many lower-quality,lower-price competitors
C)lack the 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 the home

Question 53

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

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 54

To the company's knowledge,Paradise Kitchens is known for being the only premium-quality frozen __________ sold in U.S.grocery stores.

A)desserts
B)pizza
C)chili
D)sushi
E)waffles

Question 55

The Situation Analysis section of a marketing plan is a snapshot to answer the question,

A)"Where are we now?"
B)"What is the competition doing?"
C)"How will our organization change?"
D)"What is happening in the industry?"
E)"Where are we going?"

Question 56

The primary purpose of the Paradise Kitchen's Company Description section of the marketing plan was to

A)assure the investors of the company's financial health.
B)introduce all the members and key players in the organization.
C)describe the product's competition.
D)explain how the organization will be structured.
E)highlight the recent history and successes of the organization.

Question 57

Which of the following did Paradise Kitchens considered a Weakness?

A)unique,high-quality,high-price products
B)many lower-quality,lower-price competitors
C)technical breakthroughs enable smaller food producers to achieve the same economies of scale available to large 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 the home

Question 58

It can be inferred from the Paradise Kitchens mission statement that they will most likely use a __________ strategy.

A)penetration pricing
B)skimming pricing
C)prestige pricing
D)specialty product pricing
E)basing point pricing

Question 59

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

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

Question 60

Which of the following statements regarding the use of photos in the body of a marketing plan is most accurate?

A)Photos should always appear in black and white or they lose their effectiveness.
B)Photos should always appear in color,regardless of the additional cost,since the overall effect is more professional that simply black and white images.
C)Photos should include a brief caption that ties them to the text and highlights the reason for being included.
D)If a photo is important enough to be included in the body of a marketing plan,it should require no further information.
E)Photos should never take up more than ⅛ of the page if they are used in the body of a marketing plan rather than in an appendix.

Question 61

The chances of success for a new product are significantly increased if

A)the company sets goals are set that both flexible and adaptable.
B)objectives are set for the product itself and target market segments are identified for it.
C)at least 25% of the initial budget includes advertising and promotional expenditures.
D)all initial production,distribution,and promotion are done in-house where management can exert the greatest quality control.
E)the firm outsources those elements of production,distribution,or promotion in which it has the least expertise.

Question 62

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

A)sponsored a recipe contest with the first prize being a trip for two to Mexico.
B)used a "buy-one-get-one-free" 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 63

Paradise Kitchens used external secondary data to provide evidence that there is a growing trend in frozen prepared foods.According to its marketing plan,prepared frozen meals accounted for __________ of the total frozen food market.

A)5%
B)17%
C)26%
D)32%
E)41%

Question 64

According to its marketing plan,Paradise Kitchens is positioning itself in consumers' minds as

A)a moderately priced "Home style taste of the Southwest" chili.
B)a low-cost "Mexican /American meld of flavors" for easy-to-prepare frozen entrees.
C)traditional "Taste of Mexico" that uses all organic ingredients in semi-prepared meals.
D)very high-quality "gourmet Southwestern/Mexican" frozen entrees and desserts.
E)very high-quality "authentic Southwestern/Mexican tasting" chilies that can be prepared easily and quickly.

Question 65

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

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

Question 66

The Target Markets section of a marketing plan identifies the specific niches or __________ toward which the company's products are directed.

A)resellers
B)competitors
C)stakeholders
D)product groupings
E)target markets

Question 67

Paradise Kitchens analyzed two key trends in its industry,which were

A)frozen foods and microwavable foods.
B)Mexican foods and South American foods.
C)eating out and take-out.
D)frozen foods and Mexican foods.
E)larger portion size and vegetarian meals.

Question 68

All of the following are points of difference for Paradise Kitchens EXCEPT:

A)high quality frozen chili.
B)home-style taste.
C)mild spices for the relatively unsophisticated American palate.
D)premium packaging.
E)a range of chili product flavors.

Question 69

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

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 70

Paradise Kitchens uses external secondary data to reinforce its position that there is a growing trend in the consumption of Mexican foods among U.S.households.According to its marketing plan,Mexican foods,such as burritos,enchiladas,and tacos,are consumed in approximately __________ of American households.

A)35%
B)47%
C)66%
D)79%
E)86%

Question 71

The two key elements of the Customer Analysis section of the Paradise Kitchens marketing plan include

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

Question 72

In terms of paragraph style,most readers prefer

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 73

As part of its Competitor Analysis section of its marketing plan,Paradise Kitchens discussed the chili market,which represents over $500 million in annual sales.Chili products fall into two categories,which are

A)canned chili and dry chili.
B)frozen and canned chili.
C)pre-made and ready-to-make chili kits.
D)Mexican chili and "Americanized" chili.
E)chili with meat (con carne)and vegetarian chili with beans.

Question 74

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

A)a stable financial base
B)strong connections to the Hispanic community
C)co-ownership in a chain of small grocery stores
D)the professional food industry experience of the co-founders
E)national "chili cook-off" titles

Question 75

In terms of its Marketing and Product Objectives,which of the following statements regarding Paradise Kitchens is most accurate?

A)Paradise Kitchens does not intend to expand its markets; rather,it will choose a market penetration strategy through increasing same-store sales.
B)Howlin' Coyote's brand presence will be expanded through the addition of a totally new line of ethnic desserts (flan,churros,sopapillas).
C)Paradise Kitchens will gradually phase out its Food Service division to allow for growth in its new frozen dessert line.
D)Howlin' Coyote's brand presence will be expanded through addition of new products in the frozen-foods section.
E)By the end of Year 5,Paradise Kitchens will expand its chili,salsa,burrito,and enchilada business to reach small suburban and rural areas in the relatively untapped Midwest market.

Question 76

According to the Paradise Kitchens marketing plan,two-thirds of American households consume Mexican foods.This information is used to infer that there is a more favorable attitude on the part of all Americans toward

A)Southwestern flavors and other regional foods in general.
B)spicy foods that include red chili peppers.
C)ethnic foods and regional cuisine.
D)bean products,cheese products,and tortillas.
E)heartier foods that are simple to prepare.

Question 77

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

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 78

Paradise Kitchens describes its 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.

A)$25,000
B)$50,000
C)$75,000
D)$100,000
E)$250,000

Question 79

In response to current trends regarding health and nutrition,competitors such as Don Miguel,Mission Foods,El Monterey,and José Olé plan to offer or recently have offered more "carb- friendly" and "fat-friendly" products.Paradise Kitchens' response to this trend will be to

A)change its recipes to be even lower in carbs,fats,and salt than competitors' products.
B)emphasize its products' taste and authenticity rather than their nutritional characteristics.
C)emphasize the already healthy product characteristics as well as the product's taste,convenience,and flexibility.
D)emphasize the research findings that indicate that Americans are actually getting too little fat in their diets,which makes them overeat in order to feel satisfied.
E)capitalize on the fact that its products have always been healthier than competitors' products and plan to make meals even healthier.

Question 80

The greatest single factor in a new product's failure is

A)a lack of advertising and promotion.
B)attempting to reach a target market that is too small.
C)too few competitors.
D)insignificant points of difference.
E)lack of experienced management.