Question 1

Hotel troubleshooter Michael Goget's latest assignment in Chicago is with which hotel group?

Accepted Answer

Michael Goget's latest assignment in Chicago is with the Ritz Carlton hotel group.

Question 2

Fundamental to the success of Michael Goget's marketing plan is:

Accepted Answer

Michael Goget's marketing plan's success hinges on a comprehensive approach that includes understanding the hotel's unique attributes, differentiating it from competitors, and effectively communicating these differences to the public.

Question 3

The first step in developing a marketing plan is to establish the corporate connection. This step involves ensuring that the marketing plan will support:

Accepted Answer

The first step in developing a marketing plan involves ensuring that the plan supports both the corporate strategy and the company's mission statement. This alignment ensures that marketing efforts are in sync with the overall direction and purpose of the organization.

Question 4

The purpose of an executive summary is to:

Accepted Answer

An executive summary is designed to sum up the main points of a document, such as a marketing plan, to provide a quick overview for readers.

Question 5

Which of the following is a TRUE statement concerning goals and objectives?

Accepted Answer

Goals are broad primary outcomes the organization wants to achieve, while objectives are specific, measurable steps to achieve those goals.

Question 6

Which of the following statement(s) is/are FALSE concerning mission statements?

Accepted Answer

A mission statement focuses on the current purpose and scope of the business, not future aspirations, which are typically addressed in a vision statement.

Question 7

The Boston Consulting Group model for portfolio analysis plots products on a two-by-two matrix comparing:

Accepted Answer

The Boston Consulting Group (BCG) matrix plots products based on their market growth rate and relative market share to help companies decide where to allocate their resources.

Question 8

Competitor analysis allows for which of the following to take place?
i. determine the level of customer loyalty
ii. determine relative market share
iii. identify and highlight market trends

Accepted Answer

The answer of Competitor analysis allows for which of the...

Question 9

What do general competitors do?

Accepted Answer

The answer of What do general competitors do?
...

Question 10

Which of the following is/are an advantage of market segmentation?

Accepted Answer

Market segmentation allows for targeted marketing strategies, leading to increased customer satisfaction, more persuasive advertising due to tailored messages, effective use of media by reaching the right audience, and can also address specific social needs by targeting segments with particular interests or requirements.

Question 11

Which of the following is/are TRUE concerning a SWOT analysis?

Accepted Answer

A SWOT analysis, which stands for Strengths, Weaknesses, Opportunities, and Threats, indeed examines both internal (strengths and weaknesses) and external (opportunities and threats) factors affecting an organization (C), and it is most effective when conducted early in the planning process to inform strategy development (D).

Question 12

Developer Samih Sawiris's plan was to transform Andermatt in Switzerland into what?

Accepted Answer

Samih Sawiris aimed to transform Andermatt into a year-round resort, expanding its appeal beyond just the winter season.

Question 13

Andermatt is using which of the following social media platforms?

Accepted Answer

Andermatt, being a tourist destination, uses multiple social media platforms like Facebook, Twitter, YouTube, and Tripadvisor to reach a wide audience and promote tourism.

Question 14

When discussing qualitative and quantitative forecasting techniques:

Accepted Answer

Qualitative techniques, such as the Delphi technique and scenario planning, rely on expert judgment and opinion rather than numerical analysis. These methods are used when data are scarce or when dealing with long-term forecasts and the exploration of complex future scenarios.

Question 15

Which of the following statement(s) is/are FALSE concerning goals and objectives?

Accepted Answer

The answer of Which of the following statement(s) is/are FALSE...

Question 16

According to the text, which area of the marketing plan can be considered the most important?

Accepted Answer

Target market selection is often considered the most important part of a marketing plan because it focuses on identifying the specific group of people a company aims to reach with its products or services. This step is crucial as it guides the development of positioning strategies, marketing mix decisions, and overall marketing efforts to ensure they are tailored to the needs, preferences, and behaviors of the target market.

Question 17

Which of the following statements is FALSE concerning positioning?

Accepted Answer

The steps mentioned in option D are not the standard steps for developing a positioning strategy. Positioning involves understanding the market, identifying competitive advantages, and effectively communicating the desired position to the target audience.

Question 18

The final step in the planning process is to ensure that objectives will be achieved in the required time, using the funds and resources requested. This is called:

Accepted Answer

Marketing control is the process of monitoring and evaluating the progress towards achieving marketing objectives, ensuring that they are met within the required time and using the allocated resources.

Question 19

One of the main priorities for the Mayor of Winneba, Ghana, is to expand which festival?

Accepted Answer

The Deer Hunt Festival, also known as Aboakyer Festival, is a significant cultural event in Winneba, Ghana, and expanding it is a priority for the Mayor to promote tourism and cultural heritage.

Question 20

What is the mayor doing to attract more international attention?

Accepted Answer

The answer of What is the mayor doing to attract...

Quiz 4: The Marketing Plan