Deck 5: The Marketing Plan

Question 1

Data collection is divided into two parts: international and domestic trends.

Answer 1

False

Question 2

The plan of action set forth in a marketing plan that include time frames and who will implement the plan describes:

A) The objective action plan
B) The segment action plan
C) The marketing action plan
D) None of the above

Answer 2

C

Question 3

When a firm has to evaluate its competition, it should do so objectively.

Answer 3

True

Question 4

When a new business is created, it needs to know with whom it is competing.

Question 5

The mission statement of a firm does not include the vision of the firm.

Question 6

Goals put forth in a marketing plan must be realistic.

Question 7

Which of these is NOT needed when conducting data analysis?

A) Customer behavior
B) Financial data
C) Market segments
D) Market position

Question 8

is an analysis of major profit areas to see what gaps need to be filled.

A) Segmentation analysis
B) Property needs analysis
C) Demand analysis
D) Competitive analysis

Question 9

External data pertains to each of the following EXCEPT:

A) Environment
B) International trends
C) Growth
D) Domestic trends

Question 10

The marketing plan has to remain simple and easy to execute.

Question 11

The component of the marketing plan that projects marketing expenses to be incurred for the forthcoming year is:

A) The marketing objective
B) The marketing budget
C) The marketing plan
D) The marketing forecast

Question 12

External data collection includes the environment which includes international and domestic trends.

Question 13

A savvy firm must constantly review and reevaluate its marketing plans.

Question 14

Needs analysis also means identifying other marketing problems.

Question 15

Any company competing for the same customer with the same or similar product is:

A) Competition
B) Expectation
C) Market strategy
D) Data collection

Question 16

Thorough data collection and analysis will allow:

A) Determination of competitive advantages
B) Determination of opportunities
C) Determination of data analysis
D) None of the above

Question 17

Which one of the following is NOT one of the key elements of a successful marketing plan?

A) It has measurable and achievable goals
B) It is workable
C) It is reliable and flexible
D) It is concise

Question 18

A good marketing plan does not need to provide direction for the organization.

Question 19

The marketing plan begins with:

A) Situational analysis
B) Objective planning
C) Market planning
D) Strategic planning

Question 20

Some gaps that could be filled with a property needs analysis includes all of the following EXCEPT:

A) Occupancy
B) Food sales
C) Property taxes
D) Market share