Question 1

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) __________.

Accepted Answer

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

Question 2

The Pricing Strategy articulates the specific product price and the product's price position relative to __________.When space permits,this section would include a __________.

Accepted Answer

A)  potential substitutes; break-even analysis
B)  the closest competition; situational analysis
C)  industry standards; marginal analysis
D)  the closest competition; diversification analysis
E)  industry standards; break-even analysis

Question 3

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)  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 4

Which of the following did Paradise Kitchens considered an Opportunity?

Accepted Answer

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 5

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.

Question 6

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

Accepted Answer

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 7

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

Accepted Answer

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

Question 8

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

Question 9

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

Accepted Answer

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 10

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.

Question 11

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 __________.

Accepted Answer

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 12

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.

Question 13

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

Accepted Answer

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

Question 14

The effectiveness of a table is determined by its ability to

Accepted Answer

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 15

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?

Accepted Answer

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 16

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.

Question 17

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

Accepted Answer

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 18

To help buyers see the many different uses for Howlin' Coyote Chili,Paradise Kitchens,Inc.

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" sales promotion tactic.
D)  televised a series of short but informative commercials on The Food Network cable TV channel.
E)  published small full-color illustrated pamphlets as buyer incentives to its wholesalers.

Question 19

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)  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 20

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" 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.

Exam 19: Buildign an Effective Marketing Plan

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

Correct Answer
verified

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 __________.

Correct Answer
verified

The Implementation Plan

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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) __________.

Correct Answer
verified

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

Correct Answer
verified

The effectiveness of a table is determined by its ability to

Correct Answer
verified

To help buyers see the many different uses for Howlin' Coyote Chili,Paradise Kitchens,Inc.

Correct Answer
verified

Which of the following did Paradise Kitchens considered an Opportunity?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

In terms of paragraph style,most readers prefer

Correct Answer
verified

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?

Correct Answer
verified

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?

Correct Answer
verified

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

Correct Answer
verified

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?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

The Pricing Strategy articulates the specific product price and the product's price position relative to .When space permits,this section would include a .

Correct Answer
verified

Exam 19: Buildign an Effective Marketing Plan

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

Correct AnswerverifiedShow Answer

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 __________.

Correct AnswerverifiedShow Answer

The Implementation Plan

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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) __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The effectiveness of a table is determined by its ability to

Correct AnswerverifiedShow Answer

To help buyers see the many different uses for Howlin' Coyote Chili,Paradise Kitchens,Inc.

Correct AnswerverifiedShow Answer

Which of the following did Paradise Kitchens considered an Opportunity?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In terms of paragraph style,most readers prefer

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Pricing Strategy articulates the specific product price and the product's price position relative to __________.When space permits,this section would include a __________.

Correct AnswerverifiedShow Answer

Correct Answer
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The Pricing Strategy articulates the specific product price and the product's price position relative to .When space permits,this section would include a .

Correct Answer
verified