Deck 17: Marketing Plans

Question 1

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

Answer 1

True

Question 2

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

Answer 2

True

Question 3

A situation analysis discusses the 4Ps.

Answer 3

False

Question 4

Distribution channel members are competitors.

Question 5

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

Question 6

A marketing plan should include information about competitors' strengths.

Question 7

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

Question 8

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

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.

Question 10

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

Question 11

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

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.

Question 13

The 5Cs are addressed in the situation analysis.

Question 14

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

Question 15

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

Question 16

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

Question 17

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

Question 18

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

Question 19

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

Question 20

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

Question 21

Tony owns a bed-and-breakfast inn near a ski resort.He wants to set a marketing strategy that will help his inn have regular bookings throughout the year.Tony should determine the characteristics of the inn's ideal customer.

Question 22

Company A's marketing plan states that it offers a line of products to a single segment.Company B's marketing plan states that it offers multiple products to multiple segments.Company B's marketing plan is more likely to succeed.

Question 23

Behavioral variables are not relevant to segmentation.

Question 24

When we write about market segmentation in a marketing plan, we should remember that it lies on a continuum between mass marketing and one-to-one marketing.

Question 25

A marketing plan should never identify small segments as targets because it is impossible for them to be profitable enough.

Question 26

Ben is writing a marketing plan for his company that sells ice cream, while Adam is working on a marketing plan for his amusement park chain.Their marketing plans should be very similar.

Question 27

If you are selecting a segment for a car company, it would be a good idea to remember that a car is an expensive purchase.

Question 28

A detailed timeline enables better planning.

Question 29

Maria is writing a marketing plan for her company and has come to the section covering the 4Ps.She needs to remember the product is easier to change than any of the other marketing mix variables.

Question 30

Cluster analysis is usually used for positioning.

Question 31

Billy is writing a marketing plan for his restaurant.It is a good idea for him to say that he will focus on a managerial approach rather than dealing with customer-based assessment.

Question 32

Profit potential and growth potential are only minor considerations in selecting a target market.

Question 33

Distribution is synonymous with promotion.

Question 34

Iggy is working on his company's marketing plan for a new smartphone that also serves as a remote control for televisions, car stereo systems, and MP3 players.After planning the company's segmentation and targeting efforts, Iggy should begin to craft the position of the actual product using all 4Ps: product, price, promotion, and place.

Question 35

In the pricing section of his marketing plan, Andy implies that price serves as a mechanism to obtain value back from customers.Andy is correct in this implication.

Question 36

Psychological variables are relevant to segmentation.

Question 37

Tarcy Company has experimented with one-to-one marketing, but its newest marketing plan says that it is going to scale back these efforts.This is probably a good idea since one-to-one marketing is not very cost-effective.

Question 38

In writing the targeting portion of the marketing plan, we should consider quantitative factors such as the size of the segment, profitability, and growth.

Question 39

A marketing plan should not include a timeline.

Question 40

In targeting, the size of a segment is not a selection criterion.

Question 41

Sometimes marketers gloss over contextual factors, which is sometimes okay, because many of these factors

A) fluctuate continuously.
B) are relatively stable.
C) vary greatly.
D) are not significant.

Question 42

Jerome is ranking the desirability of segments.Which of the following marketing activities is he performing?

A) segmentation
B) targeting
C) positioning
D) collaborating

Question 43

Kelly is writing a marketing plan for a new energy drink.What should her plan begin with?

A) situation analysis
B) executive summary
C) positioning statement
D) segmentation analysis

Question 44

The executive summary is typically followed immediately by a

A) situation analysis.
B) target market summary.
C) positioning statement.
D) segmentation analysis.

Question 45

Dani and Jacki are brainstorming over possible segments they may want to target with their new smoothie shop in Collegetown, USA.They have a very limited marketing budget, and want to make sure that their money is well spent.One of the questions Dani and Jacki should consider in choosing segments to target is:

A) Will the segment be profitable enough?
B) How many other smoothie shops in Collegetown, USA are targeting this segment?
C) How many consumers drink smoothies?
D) What do competitors charge for their products?

Question 46

If we are assessing the macro-environmental issues we must attend to, such as legal, technical, and social changes, then we are considering our

A) context.
B) company.
C) customers.
D) collaborators.

Question 47

Which of the following is a piece of psychographic information?

A) age
B) income
C) ZIP code
D) attitude to product

Question 48

"What are we known for?" is a question about which of the 5Cs?

A) customer
B) company
C) context
D) competitors

Question 49

Tori knows a lot about technology, but she still wants to consult an expert before buying equipment for her company.After all, technology changes so fast and it is so expensive! Which of the 5Cs is she considering?

A) customer
B) company
C) context
D) collaborators

Question 50

"Do we have a loyalty program?" is a question about which of the 5Cs?

A) customer
B) company
C) context
D) collaborators

Question 51

In order to truly know its customers, a company should strive to obtain fresh, primary data on which of the following groups of customers?

A) current, past, and potential customers
B) past, potential, and competitors' customers
C) current, past, potential, and competitors' customers
D) current and potential customers

Question 52

Peter and Piper are working on the 4Ps section of their marketing plan.Which of the following activities are they performing?

A) discussing the competition
B) describing the ideal customer
C) creating coupons for new customers
D) identifying their strengths and weaknesses

Question 53

Darrin is wondering whether technology is a threat or an opportunity for his business.Which of the 5Cs is he considering?

A) company
B) context
C) collaborators
D) competitors

Question 54

In the spirit of a SWOT analysis, a company's strengths are defined somewhat relative to

A) behavior of non-buyers.
B) customer satisfaction levels.
C) other providers in the marketplace.
D) competitors' misfortunes.

Question 55

What is product positioning done through?

A) segmentation
B) the 4Ps
C) product features
D) STP

Question 56

A marketing plan workbook functions like a(n)

A) interviewer.
B) analyst.
C) friend.
D) coworker.

Question 57

DeAndre is writing a marketing plan for his "Everything for the Beach!" company and he is considering the relationship his company has with suppliers and distribution partners.Which of the 5Cs is he thinking about?

A) collaborators
B) competitors
C) customer
D) company

Question 58

With regard to discussing the company, Ben and Henrik should

A) do a SWOT analysis.
B) describe the ideal customer.
C) downplay any potential problems.
D) focus on the current business environment.

Question 59

Staff at Paper Goods, Inc.are working on a marketing plan.One asks another, "When our buyers buy, do they seem to be price sensitive?" They are working on the part of the marketing plan that is related to which of the 5Cs?

A) customer
B) company
C) context
D) collaborators

Question 60

A marketing plan begins with an assessment of

A) how things have progressed up to this point.
B) where things currently stand.
C) where we want things to go.
D) the mission statement.

Question 61

A CEO says, "I believe that a focus on this customer base fits with our strategic corporate goals." What is he talking about?

A) segmenting
B) targeting
C) positioning
D) leading

Question 62

In __________, Connor must consider if the segment can be profitable enough for his business to succeed.

A) segmenting
B) targeting
C) positioning
D) competing

Question 63

Megan is writing a marketing plan and is trying to communicate that her company has the benefits that the target market will value.She is working on which section of the marketing plan?

A) segmenting
B) targeting
C) positioning
D) pricing

Question 64

Alayna is starting to write the product section of her marketing plan and wants to say that she offers several product lines that can vary in breadth and depth.It could be helpful for her to describe this as a

A) product mix.
B) marketing mix.
C) collection.
D) brand.

Question 65

"What are our brand associations?" is a question about

A) products.
B) price.
C) promotions.
D) people.

Question 66

As we consider the 4Ps as they relate to our marketing plan, we should

A) set a high price to ensure profitability
B) stop researching
C) test the mix
D) balance the components

Question 67

Segmentation should be based on

A) data.
B) opinions.
C) laws.
D) a vote.

Question 68

Jenna's beauty salon is thinking about offering occasional discounts for regular customers.Jenna is considering which of the 4Ps?

A) product
B) price
C) place
D) promotion

Question 69

Cluster analysis helps us with which of the following?

A) segmentation
B) targeting
C) positioning
D) the 4Ps

Question 70

Which of the following is NOT a benefit of greater precision in your marketing plan?

A) better auditing of costs
B) increased number of customers
C) increased accuracy of estimates of expenses
D) fewer weaknesses in the plan

Question 71

Deciding on your ideal distribution system relates to which of the 4Ps?

A) product
B) price
C) place
D) promotion

Question 72

Your company segments customers by gender, age, education, and income.In your marketing plan, you should specify that your company bases its segmentation on __________ factors.

A) demographic
B) geographic
C) psychological
D) behavioral

Question 73

Lin worries about delivering his frozen nutritious treats to his customers.He wants to form relationships with local delivery companies that can deliver his products and keep them from melting before they reach his customers' freezers.Which of the following is Lin thinking about?

A) context
B) promotion
C) positioning
D) collaborators

Question 74

Good Stuff, Inc.sets high prices for its products and distributes to the small number of customers who are willing to pay the price for Good Stuff's products.Which of the following activities does this describe?

A) segmenting
B) positioning
C) competing
D) collaborating

Question 75

"Will we use more pull or push?" is a question about

A) product.
B) price.
C) promotion.
D) place.

Question 76

"Are we high-end or basic?" is a question about

A) products.
B) price.
C) promotions.
D) people.

Question 77

To perform this task, Jerrilyn needs to understand the differences among current customers, non-users, and ideal customers.What task is she performing?

A) segmenting
B) targeting
C) positioning
D) collaborating

Question 78

Camille has started a photography business and is trying to decide between working toward mass exposure or a more exclusive appeal.She is thinking about which of the 4Ps?

A) product
B) price
C) place
D) promotion

Question 79

Marketing plans are often viewed as

A) workbooks.
B) carved in stone.
C) works in progress.
D) promotional tools.

Question 80

Debbie owns a gift shop and is trying to decide what her advertising goals are.This is a question about which of the 4Ps?

A) product
B) price
C) place
D) promotion