Deck 18: Next Years Marketing Plan

Question 1

An analysis of the primary strengths and weaknesses, objectives, strategies, and other information relative to competitors, is called:

A) Primary analysis
B) Secondary analysis
C) Competitive analysis
D) Internal analysis

Answer 1

C

Question 2

The ________ is essentially a projected profit-and-loss statement.

A) Mission statement
B) Action plan
C) Quota system
D) Budget

Answer 2

D

Question 3

Sales objectives must be established for each sales area, division, region, salesperson and:

A) Time period
B) Customer demographic
C) General manager
D) Selling tactic

Answer 3

A

Question 4

________ is the total available demand for a hospitality product within a particular geographic market at a given price.

A) Market demand
B) Market supply
C) Market potential
D) None of the above

Question 5

MSPA stands for:

A) Market Spend per Person Analysis
B) Market Spend per Place Analysis
C) Market Segment Place Analysis
D) Market Segment Profitability Analysis

Question 6

Social, political, and economic factors that affect a firm and its marketing program are called:

A) External factors
B) Internal factors
C) Governmental factors
D) Environmental factors

Question 7

Which is an example of a good objective?

A) "Have an occupancy of 79 percent next year"
B) "Be the best in town"
C) "Be successful"
D) "Excellence in customer satisfaction"

Question 8

Which of the following is NOT an environmental factor on hospitality organizations?

A) Social
B) Geographic
C) Political
D) Economic

Question 9

Which of the following statements is true?

A) Management and the sales force will always have access to the same market research information.
B) Sales force members have no reason to give lower sales estimates than are actually possible.
C) Hospitality companies have little need for outside professionals to assist in market research.
D) It is important for sales managers to monitor actual sales force expenditures against budgets on a regular basis.

Question 10

Quantitative and time-specific accomplishment measurements established for members of a sales force are called:

A) Profitability analysis
B) Quotas
C) Profitability objective
D) Marketing profitability

Question 11

A short summary of the marketing plan to quickly inform top executives is called:

A) Top Summary
B) Cover Summary
C) Executive Summary
D) Marketing Addendum

Question 12

A new marketing plan must be written once every ________.

A) Six months
B) One year
C) Two years
D) Five years

Question 13

A two- to four-page document written for top management is called the:

A) Budget
B) Marketing plan
C) Executive summary
D) Mission statement

Question 14

Growing key accounts is an example of a(n):

A) Action strategy
B) Advertising/promotion strategy
C) Product strategy
D) Sales strategy

Question 15

The heart of any marketing plan is careful analysis of ________ and the selection of appropriate target markets.

A) Current budgets
B) Competition
C) Available market segments
D) Market potential

Question 16

Useful marketing trend information includes related industry trends, competitive trends, and:

A) Personnel trends
B) Supplier trends
C) Political trends
D) Visitor trends

Question 17

Market potential estimates should be shown as demand estimates at various ________.

A) Geographic locations
B) Cities
C) States
D) Price points

Question 18

At the Rittenhouse Hotel in Philadelphia, frequent guests are greeted nightly with ________ on their pillow instead of the usual chocolate.

A) An expensive necklace
B) An expensive pearl
C) The weekend game tickets
D) Complimentary dinner reservations

Question 19

Generally, the first section of a formal, written marketing plan would be the:

A) Segmentation and targeting process
B) Positioning statement
C) Executive summary
D) Environmental analysis

Question 20

________ serve(s) as a roadmap for all marketing activities of the firm.

A) Organizational Objectives
B) Organization's Mission Statement
C) Marketing Plan
D) Organization's Vision

Question 21

What is good for an advertising agency may not be good for the client.

Question 22

The maintenance department is an example of a hotel department that remains unaffected by changes in a marketing plan.

Question 23

Which of the following does NOT form part of corporate direction?

A) Marketing Plan
B) Mission Statement
C) Corporate philosophy
D) Corporate goals

Question 24

Which of the following does NOT comprise environmental factors?

A) Social
B) Political
C) Economic
D) Technology

Question 25

If an advertising agency is being used it should be given sole control of the advertising component of the marketing plan.

Question 26

What is the executive summary of a marketing plan and for whom is it written?

Question 27

When developing a market plan, marketers need only look at internal data sources for information.

Question 28

What does the position statement of a marketing plan provide?

Question 29

Marketing strategies are designed to help achieve marketing objectives.

Question 30

What are the major sections of a marketing plan?

Question 31

Fencing refers to placing limits on the marketing plan budget.

Question 32

It is essential to go through the thought process of examining market potential.

Question 33

A competitive analysis dealing solely with physical characteristics of a competitor can miss major competitive advantages and disadvantages.

Question 34

What is a marketing plan, and what is its purpose?

Question 35

Because of their importance estimates of market potential are rarely ignored by those who write marketing plans.

Question 36

A marketing plan is a stand-alone tool.

Question 37

An Executive Summary should be effectively able to address:

A) A select audience
B) A vast audience
C) Key members of the staff
D) Top management

Question 38

The process of examining various submarkets and selecting those most appropriate for a company, is called:

A) Segmentation analysis
B) Marketing analysis
C) Executive summary
D) Market potential

Question 39

How is a marketing plan related to other operational plans?