Question 1

The place/distribution strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will initially be sold

Accepted Answer

Since Howlin' Coyote chili is a consumer product, the best distribution strategy is to partner with a food distributor who can sell the product directly to grocery stores. This provides the opportunity to reach a wide range of consumers and increase sales. Selling exclusively to mass merchandisers or through company-owned stores would limit the reach of the product, while selling online only may not be cost-effective for a frozen food item that requires special handling during transportation. Selling to restaurants specializing in American cuisine may also be a good option, but partnering with a food distributor provides more options for reaching consumers.

Question 2

When space permits, the price strategy section of a marketing plan would include a

Accepted Answer

The price strategy section of a marketing plan would include break-even analysis when space permits. This analysis helps businesses to determine the minimum number of sales required to cover all of their costs, and sales above this point translate to profit. This analysis can be helpful in setting prices for products or services.

Question 3

The implementation plan

Accepted Answer

The implementation plan shows how the company will turn plans into results by outlining specific actions, timelines, and responsibilities for carrying out the marketing program. It is focused on implementing the marketing strategies and tactics outlined in the marketing plan, rather than identifying marketing opportunities and threats (which is typically done in a situational analysis). The formation of the marketing program, selection of target markets, and projection of financial results would likely be part of the marketing plan.

Question 4

Charts are often used to

Accepted Answer

The answer of Charts are often used to
...

Question 5

The three key elements of the promotion strategy section in the Paradise Kitchens marketing plan are

Accepted Answer

The most effective elements of the promotion strategy for Paradise Kitchens are likely to be in-store demonstrations, recipes, and coupons. These tactics provide customers with a chance to taste the products and learn how to use them, while also incentivizing them to purchase with coupons. A chili eating contest or a slogan contest may be fun, but would be unlikely to drive significant sales or build brand awareness. Bundle pricing with a chili bowl may not be as impactful as simply offering coupons, and quantity discounts may not be as necessary if the product is already competitively priced.

Question 6

The price strategy section articulates the specific product price and the product's price position relative to __________. When space permits, this section would include a __________.

Accepted Answer

The price strategy section typically compares the product's price to potential substitutes and may include a break-even analysis to determine the point at which the product will become profitable.

Question 7

The marketing program section of a marketing plan consists of

Accepted Answer

The answer of The marketing program section of a marketing...

Question 8

Which of the following statements regarding the appendices section of a marketing plan is most accurate?

Accepted Answer

The nature and number of pages in an appendix should directly relate to the audience and its purpose. If the audience is an investor, for example, financial data and market research can be included. If the audience is a sales team, customer profiles and sales data can be included. The appendix should be tailored to provide the necessary supporting information for the specific audience and purpose.

Question 9

To help buyers see the many different uses for Howlin' Coyote Chili, Paradise Kitchens

Accepted Answer

By offering recipes printed on the back of the packages, at in-store demonstrations, and on coupons, buyers are provided with different ways to use the product and can see firsthand how versatile it can be. This also helps to promote brand loyalty and repeat purchases. The other options (a recipe contest, bundle pricing, TV commercials, and buyer incentives to wholesalers) may not be as effective in showing the different uses for the product to the end consumer.

Question 10

In the financial data and projections section of the Paradise Kitchens marketing plan, the company chose to use a bar chart in addition to a numerical table to present its actual and projected sales revenues from 2015 to 2020. Paradise Kitchens made this decision because

Accepted Answer

The bar chart is a better choice in presenting the company's projected growth because it provides a visual representation of the increasing revenue over time. This makes it easier for the audience to understand the company's expected growth trajectory. Furthermore, the use of both the bar chart and numerical table provides a comprehensive view of the data.

Question 11

The Paradise Kitchens chart in the organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses. The four key positions that report to the president and CEO are the director of operations, vice president of marketing, __________, and director of sales.

Accepted Answer

A director of finance and administration will ensure that the financial aspects of the business are managed effectively and that administrative tasks are handled efficiently. This is critical for the success of any business. A director of advertising and promotions and a director of research and development may not be as essential in the early stages of a small business. A director of human resources could also be important, but not as critical as a director of finance and administration. A senior distribution manager is important but would typically report to the director of operations.

Question 12

The Paradise Kitchens chart for the organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses. The four key positions that report to the president and CEO are the director of operations, __________, director of finance and administration, and director of sales.

Accepted Answer

The vice president of marketing is a key position in a small business's organizational structure, responsible for overseeing marketing strategies and initiatives, which aligns with the other director-level positions mentioned.

Question 13

If the following statement were included in the evaluation section of the Paradise Kitchens marketing plan, "The speed of the rollout program will increase or decrease depending on Paradise Kitchens' performance in the successive metropolitan markets it enters," what would be the purpose of this statement?

Accepted Answer

The purpose of this statement is to acknowledge the potential need for a contingency plan depending on the performance in each market. It shows that the company is prepared to adjust the speed of rollout if necessary, based on how well they are doing in each market.

Question 14

Paradise Kitchens proposes entering 17 new metropolitan markets in the next five years. For this reason, the financial plan cannot use simple trend extrapolation. Instead, the forecasting method used was

Accepted Answer

Management judgment is used when entering new markets, as it relies on the experience and insights of management rather than historical data, which may not be applicable in new markets.

Question 15

The financial data and projections section of the marketing plan for Paradise Kitchens includes two subsections:

Accepted Answer

The financial data and projections section should include past sales revenues as well as revenues projected for the next five years. This will provide an overview of how the company has been doing financially and what the future may hold. Including only current sales revenues and revenues projected for the next year would not provide enough information for long-term planning. Current debt and requested financing may be included in a separate section on funding and financial needs.

Question 16

The Paradise Kitchens chart for the organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses. The four key positions that report to the president and CEO are the __________, vice president of marketing, director of finance and administration, and director of sales.

Accepted Answer

The chart reflects a small business structure and includes only key positions. The director of operations is the only logical choice for a small business structure as it oversees the day-to-day operations of the company. The other positions may be important, but in a small business, they may be combined or outsourced.

Question 17

A unique aspect of Paradise Kitchens' packaging is that

Accepted Answer

The answer of A unique aspect of Paradise Kitchens' packaging...

Question 18

The three key elements of the product strategy section in the Paradise Kitchens marketing plan are

Accepted Answer

The product strategy section in the Paradise Kitchens marketing plan includes three key elements: product line, unique product quality, and packaging. The product line refers to the variety of products offered by Paradise Kitchens, while unique product quality refers to the features and benefits that distinguish the products from competitors. Packaging refers to the design and materials used to package the products. These elements are crucial for the success of the product strategy and are therefore included in the marketing plan. Choice A is not as specific as it only includes product benefits instead of unique product quality. Choice B is also not as comprehensive as it only includes branding strategies instead of product line and does not specify which characteristics of the product are important. Choice C is similar to choice D but does not include packaging. Choice E is too general and does not specify any details.

Question 19

The Paradise Kitchens chart in the organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses. The four key positions that report to the president and CEO are the director of operations, vice president of marketing, director of finance and administration, and

Accepted Answer

According to Figure 3: The Paradise Kitchens Organization in the organization section of the Paradise Kitchens marketing plan,the chart reflects the bare-bones organizational structure of successful small business.The four key positions that report to the president and CEO are the director of operations,vice president of marketing,director of finance and administration,and director of sales.

Question 20

In which section of a marketing plan would you most likely expect to see a chart?

Accepted Answer

The answer of In which section of a marketing plan...

Quiz 24: Building an Effective Marketing Plan