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Homework answers / question archive / Harran University - Yeniehir Campus MGT 201 Marketing Defined, Explained, Applied, 2e (Levens) Chapter 11 The Marketing Plan 1)A(n)_is a written document that defines the operational and financial objectives of a business over a particular time, and defines how the business plans to accomplish those objectives
Harran University - Yeniehir Campus
MGT 201
Marketing Defined, Explained, Applied, 2e (Levens)
Chapter 11 The Marketing Plan
1)A(n)_is a written document that defines the operational and financial objectives of a business over a particular time, and defines how the business plans to accomplish those objectives.
A) marketing plan B) business plan
C) investment plan
D) executive summary
E) business overview
2) After a title page, the next part of a typical business plan is the .
A) product overview
B) market overview
C) competitive overview
D) management overview E) executive summary
3) Which of the following is NOT one of the main elements of a typical business plan?
A) product overview
B) market overview
C) business overview D) promotions overview
E) financial overview
4) In addition to the elements that are usually included in a business plan, a start-up business would also need to include information on .
A) competition
B) operations C) capitalization
D) customer benefits
E) management
5) In which of the following sections of a business plan would a not-for-profit business most likely discuss its capacity to benefit its customer target?
A) executive summary B) service overview
C) competitive overview
D) management overview
E) financial overview
6) It is most accurate to say that a business plan is used to communicate the performance and direction of a business to .
A) targeted markets
B) consumers
C) government regulators
D) potential investors and stakeholders
E) marketers
7) A(n) identifies business revenues, expenses, and profits.
A) business statement B) income statement
C) capitalization statement
D) cash-flow statement
E) market sheet
8) A(n) identifies how much cash is needed to meet financial obligations and the source of that cash.
A) business statement
B) income statement
C) capitalization statement D) cash-flow statement
E) balance sheet
9) A(n) is used to determine the net worth of a business.
A) business statement
B) income statement
C) capitalization statement
D) cash-flow statement E) balance sheet
10) Which of the following best describes how a company should use a business plan?
A) A company should create its business plan by the end of its first year in business. B) A company should have a business plan in place from the start.
C) Once in place, the business plan should be revised every month.
D) Consistent internal conditions should lead management to keep the same business plan.
E) Changing external conditions should not lead management to create a new business plan.
11) The is a document that includes an assessment of the marketing situation, marketing objectives, and marketing initiatives.
A) marketing mix B) marketing plan
C) value proposition
D) value chain
E) management plan
12) Which of the following is NOT a basic section in a typical marketing plan?
A) marketing situation
B) forecasting
C) measurement and controls D) financial overview
E) executive summary
13) A(n) is a consolidated plan of all of a company's individual marketing plans.
A) executive summary
B) marketing summary
C) business plan
D) marketing program
E) promotions program
14) A marketing program is intended to allot and optimize resources across different
.
A) departments in a company
B) marketing functions
C) brands, products, or services in a portfolio
D) target markets
E) product positions
15) Creating and updating the marketing plan is the responsibility of .
A) the portfolio manager
B) top management
C) the marketing department
D) the finance department
E) the public relations agency
16) For a marketing plan to be successful, should participate in its implementation.
A) only the marketing department
B) only the marketing department and management
C) only the marketing and customer service departments
D) only the marketing and human resources departments E) the entire business
17) In a marketing plan, the section provides a brief overview of the primary goals, recommendations, and planned actions included in the marketing plan. A) executive summary
B) company description, purpose, and goals
C) forecasting
D) marketing situation
E) marketing strategy
18) It is most accurate to say that the executive summary of a marketing plan is designed to communicate to senior leadership and business stakeholders.
A) specific controls and measurement B) essential information
C) detailed market analysis
D) an overview of competitors' actions
E) an overview of marketing needs
19) In a marketing plan, the section identifies the history of the business and its core competencies.
A) executive summary
B) company description, purpose, and goals
C) forecasting
D) marketing situation
E) marketing strategy
20) It is most accurate to say that a company's core competencies create which of the following?
A) the company's marketing situation
B) the company's marketing strategy
C) the company's competitive advantage
D) the company's SWOT findings
E) the company's objectives
21) A company's mission statement would most logically be included in which section of the marketing plan?
A) forecasting
B) marketing strategy
C) company description, purpose, and goals
D) measurement and controls
E) marketing situation
22) Which of the following would most likely be discussed in the company description, purpose, and goals section of a marketing plan?
A) a situation analysis
B) the sales forecast
C) the proposed implementation schedule D) the company's competitive advantage
E) the company's market needs
23) A marketer would detail the company's positioning and value proposition in the
section of a marketing plan
A) marketing situation
B) forecasting
C) company description, purpose, and goals
D) marketing strategy
E) executive summary
24) In a marketing plan, the section includes an assessment of customers, competitors, the product portfolio, and distribution channels.
A) measurement and controls
B) company description, purpose, and goals
C) forecasting
D) marketing situation
E) marketing strategy
25) An assessment of which of the following would be MOST likely to appear in the marketing situation of a marketing plan?
A) the marketing mix
B) the break-even point
C) the cultural environment
D) an implementation schedule
E) the company's mission
26) A marketer would be most likely to use information from a SWOT analysis in which section of a marketing plan?
A) measurement and controls
B) company description, purpose, and goals
C) forecasting
D) marketing situation
E) executive summary
27) A marketer would be most likely to use information from a BCG growth-market matrix in which section of a marketing plan?
A) measurement and controls
B) company description, purpose, and goals
C) forecasting
D) marketing situation
E) executive summary
28) Marketers use demographics and psychographics to .
A) better understand their competitors B) better understand their customers
C) better predict company strengths
D) conduct a break-even analysis
E) evaluate pricing strategies
29) The national economy and design trends are two examples of factors in a company's .
A) microenvironment
B) competitive environment
C) technological environment
D) legal environment E) macroenvironment
30) The SWOT in SWOT analysis stands for .
A) strengths, weaknesses, observations, trends B) strengths, weaknesses, opportunities, threats
C) sales, waste, objectives, threats
D) sales, work, objectives, trends
E) services, work, opportunities, technologies
31) In a marketing plan, the section includes the anticipated outcomes based on achieving predefined market goals.
A) measurement and controls
B) company description, purpose, and goals C) forecasting
D) marketing situation
E) marketing strategy
32) Which of the following would most likely be included in the forecasting section of a marketing plan?
A) demographic predictions
B) predictions of market trends
C) an analysis of psychographic trends
D) an analysis of the company's past performance
E) an analysis of shifts in industry styles and standards
33) The outcome of the forecasting process is most essential to which of the following?
A) aligning the marketing mix with the company's mission
B) predicting competitors' strategies
C) analyzing customer behaviors
D) identifying target audiences
E) exploring alternative marketing strategies
34) Which section of a marketing plan would most likely contain a break-even analysis?
A) measurement and controls
B) marketing situation C) forecasting
D) marketing strategy
E) executive summary
35) Average cost per transaction is needed to determine .
A) future sales growth rates
B) current sales rates
C) payroll rates
D) the monthly fixed costs E) the break-even point
36) Which of the following is NOT an example of a fixed cost? A) materials
B) utilities
C) payroll
D) rent
E) Web site hosting
37) Direct sales and Web sales are both examples of . A) revenue streams
B) sales forecasts
C) public relations expenses
D) promotional events
E) marketing strategies
38) A sales forecast is most likely to be based on which of the following?
A) the company's variable costs B) the company's growth rate
C) the company's break-even point
D) the company's marketing expenses
E) the company's fixed costs
39) Data concerning which of the following would be LEAST likely included in the forecasting section of a marketing plan?
A) variable costs
B) fixed costs
C) direct cost of sales
D) sales projections E) demographic trends
40) Television ads, public relations, and promotional events are all examples of
.
A) marketing controls B) marketing expenses
C) marketing forecasts
D) distribution strategies
E) market trends
41) In a marketing plan, the section identifies the specific procedures that a business intends to follow to meet its marketing objectives.
A) measurement and controls
B) executive summary
C) forecasting
D) marketing situation E) marketing strategy
42) The target market and investment requirements are typically identified in the
section of a marketing plan.
A) measurement and controls
B) financial overview
C) forecasting
D) marketing situation E) marketing strategy
43) Information about which of the following would most likely be included in the marketing mix component of the marketing strategy?
A) worst case risks
B) market research C) pricing
D) financial forecasts
E) target market descriptions
44) Advertising, promotion, customer service, and distribution strategies are typically part of the section in a marketing plan.
A) sales forecast
B) strategic controls
C) operational controls D) marketing mix
E) BCG growth-market matrix
45) You would most likely find an implementation schedule in which section of a marketing plan?
A) marketing strategy
B) forecasting
C) executive summary
D) marketing situation
E) company description, purpose, and goals
46) Based on the sample in your text, which of the following is LEAST likely to be included in an implementation schedule?
A) start date
B) budget
C) target market strategy
D) manager
E) end date
47) In a marketing plan, the section identifies the process to monitor achievement toward attaining the marketing objectives.
A) measurement and controls
B) executive summary
C) forecasting
D) marketing situation
E) marketing strategy
48) Which type of control considers results with respect to the stated marketing plan or program?
A) observational B) operational
C) managerial
D) strategic
E) implementation
49) Which type of control considers the appropriateness of overall strategies based on internal and external conditions?
A) observational
B) operational
C) managerial D) strategic
E) implementation
50) Based on the sample marketing plan in your text, contingency planning is most likely to be included in which section of a marketing plan?
A) company description, purpose, and goals
B) marketing situation
C) measurement and controls
D) forecasting
E) executive summary
51) Members of the management team at the Art Attic would most likely refer to the company's to identify their responsibilities to marketing, operations, customer service, and other departments.
A) marketing plan
B) marketing program C) business plan
D) business program
E) tactical plan
52) Adam is a potential investor in Athletix, a manufacturer of sporting goods. To determine whether or not he wants to invest in the company, Adam is examining a document that lays out the financial goals for the entire company for the next three years, as well as goals in production efficiencies and shipping efficiencies. Adam is most likely reading the for Athletix.
A) marketing plan
B) marketing program C) business plan
D) business program
E) financial plan
53) Which of the following is the best advice about business plans for Paul, who has a great idea for a start-up business but will need substantial external financing to get started?
A) Have a business plan in place by the first day your business is open. B) Have a business plan in place before seeking out investors.
C) Focus on the product overview and fill in details about the competitive environment after the business has launched.
D) Focus on the operations overview and fill in financial details after the business has launched.
E) Make operational and financial objectives as general as possible.
54) Jonas is working on his company's marketing plan for a new product line called Nature & Nurture. He is writing an overview that includes a brief description of the positioning for the new product line as well as a brief overview of the financial goals for the product and the strategy that will be used to achieve those goals. Jonas is working on the section of the marketing plan.
A) company description, purpose, and goals
B) marketing situation C) executive summary
D) measurement and controls
E) forecasting
55) While preparing the marketing plan for a new product line called Nature & Nurture, Jonas wrote the following: "Nature & Nurture toys provide learning experiences that stimulate young children's senses and open up a world of discovery for the youngest of learners." This statement belongs in the section of the marketing plan.
A) company description, purpose, and goals
B) marketing situation
C) competitive overview
D) measurement and controls
E) forecasting
56) In your text's sample marketing plan, two of the company goals are "Achieve growth rate in sales of 12% for the year 2008" and "Maintain a gross margin of 45% each month." As indicated by these two examples, a marketing goal should be
.
A) measurable
B) general
C) creative
D) company-wide
E) set by management
57) Marketers would be most likely to use which of the following types of information to predict market growth?
A) positioning
B) company weaknesses
C) company strengths D) demographics
E) marketing mix
58) While preparing the marketing plan for a new product line called Nature & Nurture, Jonas wrote the following: "The target Nature & Nurture customer is female, married, between the ages of 30 and 45, and has one or two children under the age of five. She has completed college and some graduate work, and has a combined household income over $70,000 per year." This statement belongs in the section of the marketing plan.
A) company description, purpose, and goals B) marketing situation
C) executive summary
D) measurement and controls
E) forecasting
59) While preparing the marketing plan for a new product line called Nature & Nurture, Jonas wrote the following: "Recent news about toxic materials in children's toys and repeated recalls of children's products due to safety concerns creates a substantial market opportunity for Nature & Nurture products. As parents become more and more alarmed about the safety of their children's toys, they can be expected to place a greater premium on the nontoxic, environmentally friendly materials used for all Nature & Nurture products." This statement belongs in the section of the marketing plan.
A) company description, purpose, and goals B) marketing situation
C) executive summary
D) measurement and controls
E) forecasting
60) Which of the following would be listed under a company's strengths in a SWOT analysis?
A) Creating a presence on social networks could broaden product awareness and interest.
B) Changing economic factors favor the company's position in the market.
C) The company maintains efficient and cost-effective relationships with channel partners.
D) Changing technological factors will force the company and its competitors to alter many products.
E) Changes in media consumption among target consumers will make advertising less expensive.
61) Which of the following would be listed under a company's threats in a SWOT analysis?
A) Revenues have declined for three consecutive quarters. B) A new entry in the market is priced very competitively.
C) Staff reductions have created anxiety about job security among employees.
D) The new management team is still unfamiliar with some aspects of the business.
E) The company's access to capital to fund growth is uncertain.
62) Young Music Lovers and Fashionable Fifty-Somethings are examples of possible
.
A) target markets
B) geographic groups
C) demographic segments
D) social classes
E) market trends
Refer to the scenario below to answer the following questions.
Suzanne and Shandra, longtime friends, share a love of animals. For months, they talked about starting their own pet services business, listing ideas for services they might provide and how they might market those services. They were most interested in providing dog and cat grooming and dog walking services.
Suzanne and Shandra looked for information on established pet service businesses in their suburban area, using information from the local chamber of commerce and online research. They discovered that none of the local pet services companies provided on-site pet grooming. Suzanne and Shandra saw this as a great opportunity to distinguish their business from potential competitors.
The two women wrote a basic business plan and applied for and received a business loan to start up On-the-Go Groomers. They proposed to purchase an RV motorhome and outfit it with two comfortable dog and cat grooming stations. On-the- Go Groomers would come to clients' homes to provide pet services instead of requiring pet owners to come to them!
Six months after launching the business, Suzanne and Shandra are pleased with their success, but both feel that they are not reaching enough potential customers. So far, they have relied on local newspaper advertisements and positive word-of- mouth to generate business. Suzanne said, "We have come so far and really have a great little business going. But I think we could become much bigger with the right
plans in place."
63) Details that Suzanne and Shandra discovered about competitors in their market would most likely be analyzed in which section of a marketing plan?
A) executive summary
B) measurement and controls C) marketing situation
D) forecasting
E) company description, purpose, and goals
64) As a part of the company's marketing plan, Suzanne wrote, "On-the-Go Grooming provides convenient and excellent pet grooming services to customers with busy lives who want the best for their pets." This statement identifies which of the following about Suzanne and Shandra's business?
A) positioning
B) marketing situation
C) marketing mix
D) strategic controls
E) operational controls
65) Shandra used revenue and cost data the company had gathered over the past six month to make projections about how much the company's revenue could be expected to grow if the partners decided to add a second RV motorhome equipped with grooming stations to the business. Shandra would most likely provide an analysis of this data in which section of a marketing plan?
A) executive summary
B) measurement and controls
C) marketing situation D) forecasting
E) company description, purpose, and goals
66) A variety of plans, including a marketing plan, exist within a business plan.
67) Not-for-profit businesses can expect to gain only minimal benefits from developing business plans.
68) Most business plans include three types of financial statements.
69) A company's net worth is determined by subtracting its liabilities from its assets.
70) A collaborative team is needed to create a business plan.
71) A marketing plan, by definition, is contained within a business plan.
72) A company may have multiple business plans for its product portfolio.
73) Both financial and nonfinancial goals are included in the company description, purpose, and goals section of a marketing plan.
74) In a SWOT analysis, a marketer considers factors that are internal and external to the company.
75) The forecasting section of a marketing plan includes predictions for both revenues and expenses.
76) Future opportunities and threats are considered in the forecasting section of a marketing plan.
77) The forecasting section of a marketing plan draws on data analysis rather than subjective judgment.
78) A sales forecast projects a company's future revenues. Answer:
79) A marketer would be unlikely to include a public relations plan in the marketing strategy section of a marketing plan.
80) The measurement and controls section of the marketing plan typically considers financial, but not non-financial, factors.
81) Elisandra works in her company's finance department and is preparing a statement that details all of the company's revenues and expenses from various departments and product lines. Elisandra is preparing a cash-flow statement.
82) Larissa is working on her company's marketing plan and wants to include information about difficulties her company may face from a strong competitor. Larissa should include this information under "Weaknesses" in a SWOT analysis.
83) The sales forecast given in the sample marketing plan in your text is based on a slower growth than last year's growth rate. This implies that sales forecasts should be realistic.
