Deck 4: Developing a Strong Marketing Plan

Question 1

The ultimate focus of value creation is the

A)product.
B)technology.
C)marketing communications.
D)competitive edge.
E)customer.

Answer 1

E

Question 2

To identify key issues,a business has to identify

A)customer needs.
B)opportunities and threats.
C)marketing strategies.
D)marketing-sales linkages.
E)objectives.

Answer 2

B

Question 3

In a SWOT analysis for Clarks,"a competitor (Geox)who has introduced a new product-breathable shoes" is a(n)

A)strength.
B)weakness.
C)opportunity.
D)threat.
E)objective.

Answer 3

D

Question 4

The marketing-sales linkage of a marketing plan outlines how

A)objectives will be met.
B)marketing communications will be developed.
C)media will be purchased.
D)marketing is going to engage the sales force.
E)conclusions were drawn.

Question 5

A firm's marketing strategy is encapsulated in a document called the

A)customer segmentation plan.
B)marketing communications plan.
C)direct marketing plan.
D)media plan.
E)marketing plan.

Question 6

The first section in a marketing plan contains the

A)competitor analysis.
B)market analysis.
C)customer analysis.
D)objectives to be achieved.
E)executive summary.

Question 7

Between 2001 and 2004,Mattel lost this percentage of its share of the worldwide fashion doll segment because it failed to notice a shift in demographic and socio-cultural factors.

A)5%
B)10%
C)15%
D)20%
E)25%

Question 8

In a SWOT analysis,opportunities and threats are

A)marketing strategies.
B)objectives.
C)conclusions.
D)internal.
E)external.

Question 9

As Xerox knows,a business cannot succeed in the long run if it defines its marketing strategy in terms of its

A)advertising message.
B)public relations plan.
C)commodities.
D)core product.
E)media plan.

Question 10

Although many marketing plans contain detailed competitor profiles,they often fail to ask

A)about competitors' size.
B)what competitors' strengths are.
C)what competitors' weaknesses are.
D)about likely future moves of competitors.
E)how I can differentiate my business from competitors.

Question 11

In a SWOT analysis,strengths and weaknesses are

A)marketing strategies.
B)objectives.
C)conclusions.
D)internal.
E)external.

Question 12

Businesses today face the challenge of

A)customers who are less price-sensitive.
B)sustaining competitive differentiation.
C)fewer media and channels.
D)increased customer loyalty.
E)fewer new product introductions.

Question 13

The marketing plan needs to be translated into

A)marketing research.
B)financial objectives.
C)sales strategies.
D)functional plans.
E)advertising campaigns.

Question 14

To implement marketing strategies,an action plan specifies a set of

A)objectives.
B)tactics.
C)conclusions.
D)strengths.
E)weaknesses.

Question 15

In a marketing plan,competitors are profiled in terms of

A)size.
B)customer profile.
C)advertising spending.
D)share of voice.
E)media plan.

Question 16

A business needs a marketing plan if

A)goods and services have become commodities.
B)customers are not price-sensitive.
C)it wants to focus on the product.
D)it wants each function to act as a silo.
E)it wants to focus on technology.

Question 17

If Disney wants to develop a new market for participatory vacations,it will need to develop _____________ as specific guidelines.

A)a list of strengths
B)a list of weaknesses
C)a list of opportunities
D)a list of threats
E)a set of objectives

Question 18

In order to respond to opportunities and threats that have been identified,a business has to look at its

A)strengths and weaknesses.
B)marketing strategies.
C)marketing-sales linkages.
D)objectives.
E)customer needs.

Question 19

In a SWOT analysis for Disney,"the increased popularity of participatory vacations" is a(n)

A)strength.
B)weakness.
C)opportunity.
D)threat.
E)objective.

Question 20

Marketing strategies are developed using the

A)marketing mix elements.
B)market segmentation plan.
C)marketing communications plan.
D)sales execution plan.
E)media plan.

Question 21

It's not the data in the marketing plan that is important;it's the

A)insight.
B)research.
C)trends.
D)timeline.
E)budget.

Question 22

When Greystone Property Management saw an opportunity that wasn't a part of its one-year marketing plan,it

A)stayed the course.
B)reviewed its SWOT.
C)held a board of directors meeting.
D)conducted further research.
E)changed its marketing strategies.

Question 23

Avoiding the mistake of trying to implement too many strategies in a given year can be facilitated by

A)consulting the sales force.
B)re-allocating budgets.
C)conducting research.
D)prioritizing key issues.
E)executive decision-making.

Question 24

The section of the marketing plan that contains all the backup material is the

A)market analysis.
B)customer analysis.
C)appendix.
D)marketing plan budget.
E)marketing plan control.

Question 25

One common mistake in developing a marketing plan is

A)thinking that the marketing plan template is directional.
B)questioning the need for data.
C)spending too much time on key issues.
D)trying to take on too much.
E)forgetting that the marketing plan is set in stone.

Question 26

Marketing plans should be

A)flexible.
B)inflexible.
C)brief.
D)set in stone.
E)reviewed every three years.

Question 27

If the economy sours or customers stop spending,the marketing plan will

A)be set in stone.
B)follow the outlined tactics.
C)maintain its positioning.
D)change.
E)drift.

Question 28

If Section 6 of the marketing plan is weak,then

A)tactics are not clearly outlined.
B)responsibilities are not fully assigned.
C)it will not follow the timeline.
D)the marketing plan is also weak.
E)it will be over budget.

Question 29

In Section 13,the marketing plan is revisited throughout the year to

A)set objectives.
B)analyze customer needs.
C)evaluate assumptions.
D)assign responsibilities.
E)identify how the sales function will be engaged.

Question 30

The section of the marketing plan that addresses technological factors is the

A)market analysis.
B)competitor analysis.
C)customer analysis.
D)marketing--sales linkage.
E)marketing plan control.

Question 31

Personal or functional responsibilities are identified in this section of the marketing plan.

A)table of contents
B)marketing strategies
C)marketing plan implementation
D)marketing-sales linkage
E)marketing plan control

Question 32

The section of the marketing plan that addresses political and regulatory factors is the

A)competitor analysis.
B)marketing plan control.
C)customer analysis.
D)marketing-sales linkage.
E)market analysis.

Question 33

Besides providing focus to a business,a strong marketing plan

A)reinforces a strong corporate culture.
B)contextualizes the market for other functions.
C)demands product research and development.
D)focuses on building brand image.
E)sets high-level financial targets.

Question 34

Market share is addressed in which type of objective?

A)financial objectives
B)marketing objectives
C)marketing communications objectives
D)pricing objectives
E)marketing research objectives

Question 35

The section of the marketing plan that contains strengths and weaknesses is

A)the market analysis.
B)the customer analysis.
C)the competitor analysis.
D)the objectives to be achieved.
E)the key issues analysis.

Question 36

The key outcomes for the business section examines

A)objectives.
B)tactics.
C)return on investment.
D)marketing???-sales linkages.
E)timeline.

Question 37

A marketing plan is developed for a time period of

A)one month.
B)three months.
C)six months.
D)one year.
E)two years.

Question 38

Stating that "the local economy is growing at 9% per annum" without going further and addressing the implications is simply

A)an insight.
B)data.
C)an objective.
D)a strategy.
E)a tactic.

Question 39

Without a marketing plan,a business

A)lacks focus.
B)delivers customer value.
C)segments the market.
D)prioritizes key issues.
E)relies on personal selling.

Question 40

Although Arbol Industries' senior management had developed a rolling five-year strategic plan,the marketing manager knew the next step ought to be

A)conducting research.
B)segmenting the market.
C)investing in new product development.
D)setting financial targets.
E)developing a marketing plan.

Question 41

Without an action plan,marketing strategies cannot be implemented.

Question 42

The American Marketing Association has identified achieving marketing-sales linkage as a crucial topic for any business to tackle.

Question 43

A marketing plan provides focus and discipline to a business.

Question 44

The marketing plan template should be treated as a checklist.

Question 45

Strengths and weaknesses are external.

Question 46

Without an action plan to implement marketing strategies,there is a tendency to take on too little.

Question 47

The ultimate focus of value creation is the product.

Question 48

Opportunities and threats are internal.

Question 49

A SWOT analysis is the section of the marketing plan that determines what the data actually means.

Question 50

It is better to focus on a few key strategies than trying to implement too many strategies in a given year.

Question 51

If Section 6 is weak,the marketing plan will be weak.

Question 52

When Greystone Property Management saw an opportunity that wasn't a part of its one-year marketing plan,it changed the plan.

Question 53

When developing a marketing plan,keep in mind that data is not important,but insight is.

Question 54

Marketing strategists must consider cross-functional implications of marketing strategies if they are to be successful.

Question 55

A strength is not a strength unless it enables the business to capture an opportunity or minimize a threat.

Question 56

Accurate marketing analysis has allowed Disney to go beyond theme parks to introduce cruises and participatory vacations.

Question 57

Starting with strengths and weaknesses in a SWOT analysis could lead a business to the wrong conclusions.

Question 58

OTSW leads to an external focus.

Question 59

A functional plan provides all departments with a common understanding of the go-to-market strategy.

Question 60

The sales force is a key component of marketing strategy implementation.

Question 61

A marketing plan is developed for a time period of three years.

Question 62

Developing and implementing a strong marketing plan requires input and buy-in from all of a business' functions.

Question 63

What are the four major areas that the sections of a marketing plan fall into?

Question 64

Why is achieving a marketing-sales linkage crucial for any business?

Question 65

A marketing plan should never look back at previous marketing strategies;it should only look forward.

Question 66

What is the consequence of not developing a marketing plan? Provide an example.

Question 67

A marketing plan is a living,breathing document that should be revisited throughout the year.

Question 68

While it is true that without a marketing plan a business tends to drift,it does not necessarily follow that the marketing plan should be set in stone.Discuss this statement.

Question 69

Explain why it is important to ask,"What does the data mean?" when developing a marketing plan.

Question 70

A marketing plan is the "glue" that binds functions together by contextualizing the market.

Question 71

Why does the textbook author,Ajay Sirsi,think an OTSW analysis should be used instead of a SWOT analysis?

Question 72

What information should be contained in the competitor analysis?

Question 73

What is examined in the key outcomes for the business section of a marketing plan

Question 74

What information is contained in the marketing plan implementation section of a marketing plan?