Question 1

The situation analysis section of a marketing plan is a snapshot to answer the question,

Accepted Answer

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 2

The table of contents is usually found

Accepted Answer

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 3

Arthur R. Kydd has helped launch more than 60 start-up firms and 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. C

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 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.

Question 5

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 6

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,

Accepted Answer

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

Question 7

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

Accepted Answer

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 its plan to make meals even healthier.

Question 8

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

Accepted Answer

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.

Question 9

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.

Question 10

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 11

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

Accepted Answer

A)  a moderately priced "homestyle 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 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

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 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 industry, the target audience and purpose, and

Accepted Answer

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

Question 14

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.

Question 15

Shorter tables or graphs

Accepted Answer

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 two inches but not more than fives inches high.
E)  are more for style than for substance. B

Question 16

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 D

Question 17

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 bundle pricing with a chili bowl and a selection of products.
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 18

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)  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 19

A unique aspect of Paradise Kitchens' packaging is that

Accepted Answer

A)  the information is printed in English on one side and Spanish on the other.
B)  the color of the box gets redder as the spices get hotter.
C)  there is a Southwestern motif on the box instead of pictures of the product.
D)  there is a thermometer strip that indicates when the product is properly thawed.
E)  there are hidden figures created by the outlines of the chili beans for people to look at while preparing the meal.

Question 20

The place/distribution strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will initially be sold

Accepted Answer

A)  to restaurants specializing in American cuisine.
B)  through company-owned stores at outlet malls.
C)  exclusively to mass merchandisers such as Walmart and Target.
D)  through a food distributor, which in turn will sell directly to grocery stores.
E)  online to consumers to bypass "the middleman"; the product will be shipped using packed dry ice containers to keep it frozen during transportation.

Exam 24: Building an Effective Marketing Plan

The situation analysis section of a marketing plan is a snapshot to answer the question,

Correct AnswerverifiedShow Answer

The table of contents is usually found

Correct AnswerverifiedShow Answer

Arthur R. Kydd has helped launch more than 60 start-up firms and 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

Correct AnswerverifiedC

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

Correct AnswerverifiedShow Answer

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

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,

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

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

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

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

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

Correct AnswerverifiedShow Answer

The industry analysis section of a marketing plan provides perspective for information regarding

Correct AnswerverifiedShow Answer

Shorter tables or graphs

Correct AnswerverifiedB

Which of the following did Paradise Kitchens considered an opportunity?

Correct AnswerverifiedD

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

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

A unique aspect of Paradise Kitchens' packaging is that

Correct AnswerverifiedShow Answer

The place/distribution strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will initially be sold

Correct AnswerverifiedShow Answer

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