Question 1

The STP section of a marketing plan usually involves summaries of marketing research.

Accepted Answer

The STP (Segmentation, Targeting, Positioning) section often includes summaries of marketing research to identify and understand different market segments, target the most appropriate ones, and position the product effectively.

Question 2

In a marketing plan, tactical plans come after market analyses.

Accepted Answer

Tactical plans are developed after conducting market analyses to ensure strategies are based on current market conditions and insights.

Question 3

A situation analysis discusses the 4Ps.

Accepted Answer

A situation analysis typically involves examining the internal and external factors affecting a business, such as SWOT analysis, rather than focusing specifically on the 4Ps (Product, Price, Place, Promotion), which are part of the marketing mix.

Question 4

Distribution channel members are competitors.

Accepted Answer

Distribution channel members are not competitors; they are partners in the supply chain, working together to deliver products from manufacturers to consumers.

Question 5

A marketing plan begins with an executive summary, which is a detailed, lengthy overview of the content of the document that follows.

Accepted Answer

An executive summary is a concise overview of the main points of a marketing plan, not a detailed or lengthy one.

Question 6

A marketing plan should include information about competitors' strengths.

Accepted Answer

A marketing plan should include information about competitors' strengths to identify opportunities and threats, and to develop strategies to gain a competitive advantage.

Question 7

A SWOT analysis is usually used to assess the 4Ps.

Accepted Answer

A SWOT analysis is used to assess Strengths, Weaknesses, Opportunities, and Threats, not the 4Ps (Product, Price, Place, Promotion).

Question 8

In a marketing plan, the section about the 4Ps comes before the section about the 5Cs.

Accepted Answer

The 5Cs (Company, Customers, Competitors, Collaborators, and Context) analysis typically precedes the 4Ps (Product, Price, Place, Promotion) in a marketing plan to provide a foundational understanding of the market environment before developing the marketing strategy.

Question 9

Lumber Sales Co.has good relationships with its providers in the supply chain (lumberjacks, sawmill companies, etc.), and with the channel members downstream from the firm (home improvement stores), so problems will not arise related to shared shelf space, or shared ad space, etc.

Accepted Answer

Good relationships do not guarantee that problems will not arise, as there can still be conflicts over shared resources like shelf space or ad space due to differing priorities or external factors.

Question 10

In considering the 5Cs, marketers evaluate the company via a SWOT analysis.

Accepted Answer

Marketers use SWOT analysis to evaluate the company's strengths, weaknesses, opportunities, and threats, which is part of the 5Cs framework (Company, Customers, Competitors, Collaborators, and Context).

Question 11

In a marketing plan, the executive summary is typically followed immediately by a situation analysis.

Accepted Answer

The executive summary provides an overview of the marketing plan, and the situation analysis follows to assess the current market conditions and context.

Question 12

Zechariah needs to know as much as he possibly can about the customers he is targeting, and the only way to know about his customers is to get data on them.Studying secondary data about background trends, etc.is a good place to start.

Accepted Answer

Studying secondary data provides insights into market trends, consumer behavior, and other relevant information that can help Zechariah understand his target customers better.

Question 13

The 5Cs are addressed in the situation analysis.

Accepted Answer

The 5Cs (Company, Customers, Competitors, Collaborators, and Context) are key components of a situation analysis in marketing to understand the internal and external environment.

Question 14

There is no reason to include marketing research in your marketing plan.

Accepted Answer

Marketing research is crucial in a marketing plan as it provides insights into consumer behavior, market trends, and competitive analysis, helping to make informed decisions and strategies.

Question 15

In the segmentation portion of a marketing plan, we should start by identifying ideal customers.

Accepted Answer

The answer of In the segmentation portion of a marketing...

Question 16

Jessica is drafting a marketing plan.The executive summary of her plan should be no longer than one page.

Accepted Answer

The executive summary is a concise overview of the marketing plan, typically kept to one page to ensure it is easily digestible and highlights key points for busy executives.

Question 17

Context includes things like legal, technological, and social changes and trends.

Accepted Answer

Context refers to the environment or setting in which something exists or occurs, including factors like legal, technological, and social changes and trends that can influence or affect it.

Question 18

Because many contextual factors change constantly, they should be examined in detail.

Accepted Answer

The answer of Because many contextual factors change constantly, they...

Question 19

The executive summary is at the end of a marketing plan.

Accepted Answer

The executive summary is typically placed at the beginning of a marketing plan to provide a concise overview of the main points and objectives for readers.

Question 20

Much of the company C is knowing our own strengths and goals.

Accepted Answer

The sentence is grammatically correct.

Quiz 17: Marketing Plans