Deck 12: Marketing Plans: Saying How Youll Get Sales

Question 1

Focus group method refers to gathering data by simple observation.

Answer 1

False

Question 2

Glen is using the information available on the Internet,to conduct a research on "Retail Marketing." Glen is conducting a primary research.

Answer 2

False

Question 3

A marketing plan is required to convince a bank or private investor to loan you money or a store or distributor to carry your product.It is not required if you plan to use your own personal savings and direct marketing.

Answer 3

False

Question 4

Differential advantage is also known as competitive advantage.

Question 5

Marketing research can show what the competitors are doing correctly but cannot identify their weaknesses.

Question 6

The easiest way of finding the selling prices of different products is through secondary research.

Question 7

Primary data are specific to the problem you are solving.

Question 8

Ethnographic research is an observational method of collecting data.

Question 9

Vince is a marketing research executive for a retail firm.He has been assigned the task of identifying the reason for low sales of its products in a specific area compared to other areas of the same city.Vince should conduct secondary marketing research to get accurate information.

Question 10

Open-ended questions are not useful in marketing research since they can be answered in many ways.

Question 11

A systematic written plan of all phases of marketing for a business is known as a marketing plan.

Question 12

Questionnaires' in which respondents have to choose between age levels e.g.below 20,20 to 29,30 to 39 etc.can be categorized as dichotomous questions.

Question 13

With close-ended questions it is much easier to compare groups and to statistically analyze.

Question 14

Marketing research can verify the size of the potential market.

Question 15

Normally,the first step in creating the business plan is creating the marketing plan.

Question 16

Differential advantage occurs as a result of something a company does in either - product,price,place,or promotion.

Question 17

While conducting a survey,asking questions to people on the phone is the most expensive method.

Question 18

Data gathered through close-ended questions provide more information than those collected through open-ended questions.

Question 19

Research falls into two major categories: secondary and post-secondary research.

Question 20

Secondary research is often free and quick.

Question 21

Direct competition for a firm are those products that people use if they do not purchase the firm's product or service category.

Question 22

For a new company the marketing plan provides the justification for going into the market.

Question 23

With prestige pricing,people will pay more for a particular name brand because of the perceived benefits of using the brand.

Question 24

_____ research is research gathered to answer a specific marketing question.

A)Primary
B)Post secondary
C)Secondary
D)Consumer

Question 25

_____ refers to information already collected for some other purpose than the current problem.

A)Primary data
B)Open-ended research
C)Secondary data
D)Closed research

Question 26

Which of the following is a problem with secondary data?

A)It may not be economical
B)It may not be timely
C)It may be too user-friendly
D)It may be competitive

Question 27

Identifying the target market for the product or service,gives us an answer to "how crowded the market is."

Question 28

Examining the current situation includes all of the following EXCEPT

A)what your existing competition is doing.
B)how you define your product or service.
C)how will you solve employee grievances.
D)to whom will you sell.

Question 29

Ethan is a marketing research executive for Coca Cola.Recent sales figures suggest that the sales for Coke have fallen drastically in Cincinnati,Iowa.The regional manager wants Ethan to conduct a market research in Cincinnati.Which of the following research should Ethan use?

A)Post secondary
B)Secondary
C)Primary
D)Closed

Question 30

The primary reason for targeting is that you don't waste a lot of effort and money.

Question 31

Creating a(n)_____ plan is the first step in putting together your business plan.

A)marketing
B)operational
C)financial
D)human resource

Question 32

_____ refers to systematic collection and interpretation of data to support future marketing decisions.

A)Marketing plan
B)Marketing research
C)Socialization
D)Sales forecasting

Question 33

The creation of a marketing plan is a one-time process.

Question 34

Promotion can create a differential advantage,although more likely it will be the means by which you convey this advantage to the customers.

Question 35

An example of demographic segmentation is dividing the market based on whether people live in the city or rural areas.

Question 36

When a firm chooses one particular segment on which to focus all its efforts,the firm is using a concentration strategy.

Question 37

The challenge in _____ is finding data.

A)primary research
B)secondary analysis
C)ethnographic research
D)focus group

Question 38

A written marketing plan does not include financial projections if it is not a part of an entire business-plan.

Question 39

Generally,marketers choose one of three targeting strategies: cost,differentiation,and focus.

Question 40

A differentiated strategy is useful when there is really no difference in the reasons why consumers buy your products.

Question 41

With _____ questions,it is much easier to compare groups and statistically analyze.

A)informal
B)open-ended
C)close-ended
D)subjective

Question 42

_____ questions can help you find new niches and perfect your product or service before you introduce it.

A)Categorical
B)Dichotomous
C)Open-ended
D)Scalar

Question 43

Which of these is not a close-ended question type?

A)Scalar
B)Dichotomous
C)Categorical
D)Subjective

Question 44

This form of survey has the lowest return rate and does not allow for much flexibility.

A)Mail
B)Face To Face
C)Telephonic
D)Internet

Question 45

A data collection method using a questionnaire is called

A)secondary research.
B)a survey.
C)a focus group.
D)ethnographic research.

Question 46

Which of following is the most expensive survey method?

A)Mail
B)Phone
C)In-person
D)On line

Question 47

If you are asked a question: What is your ethnicity? White,African American,Hispanic,Asian,other,it reflects a _____ question.

A)open-ended
B)categorical
C)dichotomous
D)scalar

Question 48

Questions that allow respondents to express themselves as they choose are called _____ questions.

A)open-ended
B)categorical
C)dichotomous
D)scalar

Question 49

Data gathered by simple observation seeing what customers do rather than asking them refers to

A)focus group.
B)survey methodology.
C)ethnographic research.
D)secondary research.

Question 50

A Web-based program that uses artificial intelligence technique to automate tasks such as searches is called a(n)

A)e-tailer.
B)bot.
C)blogger.
D)tag identification.

Question 51

Which of the following is an informal approach and a good way to test your questions to make sure your audience understands exactly what you are asking?

A)Ethnographic research
B)Survey
C)Focus group
D)Branching

Question 52

Which of the following are the two major types of questions used in surveys?

A)Formal and informal
B)Primary and secondary
C)Open-ended and close-ended
D)Personal and professional

Question 53

Jeff is a market research executive who has prepared questionnaires' for his respondents.The questionnaires allow respondents to answer in either a "Yes" or a "No." This questionnaire can be categorized under which of the following question type?

A)Open-ended
B)Categorical
C)Scalar
D)Dichotomous

Question 54

One of the most important pieces of the marketing plan that determines your profitability and ultimately whether you will stay in business or not is

A)knowing what your sales will be.
B)regulations that affect your business.
C)estimating the human resource need.
D)having the succession plan in place.

Question 55

Open-ended questions are best for all of these EXCEPT

A)gathering preliminary information.
B)when samples are small.
C)comparing groups and statistical analysis.
D)when there are data that is difficult to get any other way.

Question 56

Identify the form of questions that gives you several predetermined groups from which to choose.

A)Categorical questions
B)Scalar questions
C)Dichotomous questions
D)Open-ended questions

Question 57

A form of data gathering from a small group led by a moderator is called

A)focus group.
B)survey methodology.
C)ethnographic research.
D)secondary research.

Question 58

Questions that have only two possible choices are called _____ questions.

A)open-ended
B)categorical
C)dichotomous
D)scalar

Question 59

Noel is a management student who needs to conduct primary data for his project on "Retail Marketing." He goes to a local department store and observes customers.He makes a note of the different products the customers choose,and the time they spend in making decisions in choosing different products.Which of the following best explains this type of research?

A)Focus group
B)Survey
C)Secondary
D)Ethnographic

Question 60

These questions provide data that are more difficult to tabulate and the answers can be difficult to compare.

A)Categorical questions
B)Open-ended questions
C)Scalar questions
D)Dichotomous questions

Question 61

A _____ is the population segment or segments that are likely to buy your product or service.

A)trade area
B)target market
C)test market
D)national market

Question 62

Which of these tools is useful in conducting a situation analysis?

A)SWOT analysis
B)Marketing research
C)Sales forecasting
D)Ethnographic research

Question 63

Maya runs a business of home-based new born baby wear through the Internet called "First Memories".She targets her business at all first time mothers around the globe.Identify the type of marketing strategy involved.

A)Differentiated strategy
B)Concentrated strategy
C)Undifferentiated strategy
D)Cost leadership strategy

Question 64

A(n)_____ strategy is useful when there is really no difference in the reasons why consumers buy your products.

A)undifferentiated
B)concentrated
C)differentiated
D)demographic segmentation

Question 65

A(n)_____ strategy is used when there is more than one market segment likely to need a product or service.

A)undifferentiated
B)concentrated
C)differentiated
D)cost-leadership

Question 66

An automobile company has different categories of cars for different types of customers.The have segmented it as: speed cars,safety cars,capacity cars etc.Customers can choose their cars accordingly.Which of the following best explains this type of segmentation?

A)Demographic
B)Geographic
C)Personality
D)Benefit

Question 67

In situation analysis,you need to consider those who provide the same product or service,otherwise known as

A)promotional marketers.
B)direct competition.
C)your product distributors.
D)indirect competition.

Question 68

When you divide the market you serve based on regions,such as,Northeast,Southeast,and Midwest,it is called

A)personality segmentation.
B)benefit segmentation.
C)demographic segmentation.
D)geographic segmentation.

Question 69

When you divide your total market based on age and income,it is called

A)personality segmentation.
B)benefit segmentation.
C)demographic segmentation.
D)geographic segmentation.

Question 70

Which of these represent the first step of a marketing plan?

A)Examining the current situation
B)Discussing the target market
C)Creating a detailed marketing strategy and objectives
D)Addressing the 4 P's

Question 71

Which of the following is also known as competitive advantage?

A)Marketing strategy
B)Sales forecasting
C)Differential advantage
D)Marketing research

Question 72

Snackos is a company that manufactures snacks.They advertise their products with the catch phrase "Snackos,snacks with nutritious value and more for your money".What kind of strategy are they following?

A)Differentiated strategy
B)Concentrated strategy
C)Undifferentiated strategy
D)Cost leadership strategy

Question 73

The process of dividing the market into groups that have somewhat homogeneous needs for a product or service is called

A)market segmentation.
B)sales forecasting.
C)marketing research.
D)ethnographic research.

Question 74

Which of the following strategy is ideal while selling bottled water in a beach on a hot summer day?

A)Benefit segmentation
B)Concentrated
C)Differentiated
D)Undifferentiated

Question 75

A marketing plan examines all of these areas EXCEPT

A)target market.
B)current situation.
C)marketing strategy and objectives.
D)employee issues involving product creation.

Question 76

Generally marketers choose one of these targeting strategies EXCEPT

A)undifferentiated.
B)concentrated.
C)differentiated.
D)cost-leadership.

Question 77

Which of these is the final step of a marketing plan?

A)Examining the current situation
B)Discussing the target market
C)Creating a detailed marketing strategy and objectives
D)Addressing the 4 P's

Question 78

A(n)_____ strategy is used when a firm chooses one particular segment on which to focus all its efforts.

A)undifferentiated
B)concentrated
C)differentiated
D)cost-leadership

Question 79

The characteristic that separates one company from another in product,price,promotion and/or distribution,is referred to as

A)differential advantage.
B)sales forecasting.
C)marketing research.
D)ethnographic research.

Question 80

The key component in your situation analysis is to consider your

A)employees.
B)suppliers.
C)distributors.
D)competitors.