Question 1

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.F) A) and C)
G) B) and C)

Question 2

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 __________.

Accepted Answer

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 serviceF) None of the above
G) B) and C)

Question 3

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.

Accepted Answer

A)  $25,000
B)  $50,000
C)  $75,000
D)  $100,000
E)  $250,000F) None of the above
G) A) and D)

Question 4

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

Accepted Answer

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

Question 5

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 2" but not more than 5" in height.
E)  are more for style than for substance.F) A) and E)
G) B) and E)

Question 6

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.

Accepted Answer

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

Question 7

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?

Accepted Answer

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

Question 8

In which section of a marketing plan would you most likely expect to see a chart?

Accepted Answer

A)  Strategy
B)  Organization
C)  Implementation
D)  Evaluation
E)  AppendixF) D) and E)
G) A) and B)

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.

Accepted Answer

A)  marketing plan
B)  mission statement
C)  operation plan
D)  business plan
E)  marketing dashboardF) A) and E)
G) A) and D)

Question 10

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

Accepted Answer

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.F) A) and B)
G) A) and C)

Question 11

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 competitionF) C) and D)
G) A) and D)

Question 12

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 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.F) A) and D)
G) None of the above

Question 13

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)  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?F) A) and E)
G) C) and E)

Question 14

Which of the following statements regarding business or market plan page length is MOST ACCURATE?

Accepted Answer

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 appendices.
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.F) A) and E)
G) All of the above

Question 15

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.F) B) and C)
G) B) and E)

Question 16

The Paradise Kitchens chart in the Organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses.The four key positions that report to the President & CEO include the following: Director of Operations,Vice President of Marketing,Director of Finance and Administration,and __________.

Accepted Answer

A)  Director of Sales
B)  Director of Advertising and Promotions
C)  Director of Research and Development
D)  Director of Human Resources
E)  Senior Distribution ManagerF) C) and D)
G) A) and B) A

Question 17

The Price 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 analysisF) None of the above
G) A) and E)

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)  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?F) A) and B)
G) All of the above

Question 19

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.F) D) and E)
G) A) and E) B

Question 20

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)  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.F) A) and E)
G) C) and E)

Exam 23: Building 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
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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 __________.

Correct Answer
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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.

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

Correct Answer
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Shorter tables or graphs

Correct Answer
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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.

Correct Answer
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C

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?

Correct Answer
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In which section of a marketing plan would you most likely expect to see a chart?

Correct Answer
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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.

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

Correct Answer
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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
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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
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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

Which of the following statements regarding business or market plan page length is MOST ACCURATE?

Correct Answer
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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 Answer
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A

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

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

Correct Answer
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B

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

Exam 23: Building 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

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 __________.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Shorter tables or graphs

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedC

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?

Correct AnswerverifiedShow Answer

In which section of a marketing plan would you most likely expect to see a chart?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

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

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

Which of the following statements regarding business or market plan page length is MOST ACCURATE?

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

Correct AnswerverifiedA

The Price 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

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

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

Correct AnswerverifiedB

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

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C

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A

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

Correct Answer
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B

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