Question 1

Which of the following statements regarding marketing and business plans is most accurate?

Accepted Answer

A)  In contrast to a marketing plan, a business plan is a road map for the entire organization for a specified future period of time, such as one year or five years.
B)  In contrast to a business plan, a marketing plan is a road map for the entire organization for a specified future period of time, such as one year or five years.
C)  A marketing plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the organization.
D)  A business plan is used for industrial products and a marketing plan is used for consumer products.
E)  A business plan is used for manufactured products and a marketing plan is used for services.F) A) and B)
G) A) and C)

Question 2

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Accepted Answer

A)  Use different color fonts or paper to represent different sections of your plan.
B)  Do not use a business plan unless you plan to borrow at least $100,000.
C)  Shoot for a plan that is 15 to 35 pages in length, excluding financial projections and appendixes.
D)  Include as an attachment the résumés for all key players in your management team.
E)  To save paper, send the plan in digital (Adobe Acrobat PDF)  format to all potential investors.F) D) and E)
G) B) and D)

Question 3

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

A)  director of advertising and promotions
B)  director of research and development
C)  director of human resources
D)  vice president of marketing
E)  senior distribution managerF) B) and C)
G) B) and E)

Question 4

The effectiveness of a table is determined by its ability to

Accepted Answer

A)  include every possible piece of information available.
B)  catch the reader's attention with its design and sophistication.
C)  create a powerful visual metaphor.
D)  summarize a large amount of information in a short amount of space.
E)  clarify difficult financial information or calculations.F) C) and D)
G) A) and E)

Question 5

In addition to quality content, a plan's layout and design are also important. Which of the following statements is most accurate?

Accepted Answer

A)  Fonts that are serif type should be used within the body of the plan and sans serif type should be used with charts and graphs.
B)  Fonts that are sans serif are easier to read and should be used in the body of the plan.
C)  Ink-jet printers are preferable to laser printers.
D)  The font size should change with the importance of the material. Important material should be at least 14 points and go as small as 10.5 points for less important details.
E)  There should be a different font style for each new section within the plan, provided no more than five distinct fonts are used.F) A) and D)
G) C) and D)

Question 6

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use a __________ strategy.

Accepted Answer

A)  penetration pricing
B)  skimming pricing
C)  prestige pricing
D)  specialty product pricing
E)  basing point pricingF) B) and C)
G) A) and B)

Question 7

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Accepted Answer

A)  Use different color fonts or paper to represent different sections of your plan.
B)  Do not use a business plan unless you plan to borrow at least $100,000.
C)  Include as an attachment the résumés for all key players in your management team.
D)  Set a firm date by which you will require an answer from a potential investor, after which you will take your plan somewhere else.
E)  Use care in layout, design, and presentation.F) B) and C)
G) A) and D)

Question 8

The primary purpose of the Paradise Kitchen's company description section of the marketing plan was to

Accepted Answer

A)  assure the investors of the company's financial health.
B)  introduce all the members and key players in the organization.
C)  describe the product's competition.
D)  explain how the organization will be structured.
E)  highlight the recent history and successes of the organization.F) C) and D)
G) B) and E)

Question 9

Charts are often used to

Accepted Answer

A)  prioritize marketing activities and set deadlines.
B)  assign tactical marketing decisions and specify target markets.
C)  prioritize marketing activities and assign resources.
D)  specify target markets and assign resources.
E)  set deadlines and assign responsibilities for tactical marketing decisions.F) A) and B)
G) All of the above

Question 10

The SWOT analysis section of a marketing plan identifies a company's

Accepted Answer

A)  new technological innovations.
B)  strengths, weaknesses, opportunities, and threats.
C)  marketing program.
D)  barriers to entry.
E)  sustainable competitive advantages.F) All of the above
G) A) and E)

Question 11

All of the following are points of difference for Paradise Kitchens except

Accepted Answer

A)  high-quality frozen chili.
B)  home-style taste.
C)  mild spices for the relatively unsophisticated American palate.
D)  premium packaging.
E)  a range of chili product flavors.F) C) and E)
G) A) and B)

Question 12

To translate its core competencies into a sustainable competitive advantage, Paradise Kitchens will work closely with key

Accepted Answer

A)  lenders and venture capitalists.
B)  suppliers and distributors.
C)  advertising agencies and public relations firms.
D)  federal and state regulators to import tariff free ingredients.
E)  Hispanic spokespeople to get the word out.F) C) and D)
G) A) and E)

Question 13

The single most important section of the marketing plan (usually only two pages long)  that "sells" the plan to readers is called the

Accepted Answer

A)  executive summary.
B)  strategic plan.
C)  vision statement.
D)  overview of financial projections.
E)  synopsis.F) A) and C)
G) A) and E)

Question 14

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Accepted Answer

A)  Use different color fonts or paper to represent different sections of your plan.
B)  Do not use a business plan unless you plan to borrow at least $100,000.
C)  Be positive and specific to convey potential success.
D)  Include as an attachment the résumés for all key players in your management team.
E)  To save paper, send the plan in digital (Adobe Acrobat PDF)  format to all potential investors.F) None of the above
G) A) and C)

Question 15

For the benefit of its audience, Paradise Kitchens divided its goals into

Accepted Answer

A)  product and process.
B)  product and service.
C)  internal and external.
D)  employee and customer.
E)  financial and nonfinancial.F) A) and D)
G) A) and C)

Question 16

The greatest single factor in a new product's failure is

Accepted Answer

A)  a lack of advertising and promotion.
B)  attempting to reach a target market that is too small.
C)  too few competitors.
D)  insignificant points of difference.
E)  lack of experienced management.F) A) and B)
G) None of the above

Question 17

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

A)  director of sales.
B)  director of advertising and promotions.
C)  director of research and development.
D)  director of human resources.
E)  senior distribution manager.F) B) and D)
G) A) and C)

Question 18

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 advertising and promotions
B)  director of research and development
C)  director of finance and administration
D)  director of human resources
E)  senior distribution managerF) A) and E)
G) A) and D)

Question 19

Which of the following goals uses parallel construction?

Accepted Answer

A)  Make the best non-battery flashlight possible, make the brand name known in every household in the United States, and make the flashlight the official flashlight of every state-owned hospital in the United States.
B)  To make the finest bicycles in the professional racing field, to attain sponsorship from at least three top Olympic riders, and obtain a return on equity of at least 15 percent.
C)  Enter three major markets in the next three years, maintain a market share above 20 percent, while continuing to provide the best customer service according to industry polls.
D)  To increase market share by at least 10 percent each year for the next five years, reduce employee turnover by 20 percent within the next five years, and to obtain a return on equity of at least 15 percent for each of the next five years.
E)  Generate sales of $100 million, generate ROI of 20 percent, and maintaining selling costs at 10 percent of sales.F) B) and C)
G) D) and E)

Question 20

The format for a marketing plan for an organization depends on the following: (1)  the target audience and purpose, (2)  __________, and (3)  the industry.

Accepted Answer

A)  the time frame
B)  the competition
C)  the available resources
D)  the financial investment needed
E)  the kind and complexity of the organizationF) A) and B)
G) A) and C)

Exam 24: Building an Effective Marketing Plan

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Correct Answer
verified

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use a __________ strategy.

Correct Answer
verified

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Correct Answer
verified

Which of the following goals uses parallel construction?

Correct Answer
verified

Which of the following statements regarding marketing and business plans is most accurate?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Correct Answer
verified

The effectiveness of a table is determined by its ability to

Correct Answer
verified

The format for a marketing plan for an organization depends on the following: (1) the target audience and purpose, (2) __________, and (3) the industry.

Correct Answer
verified

Correct Answer
verified

For the benefit of its audience, Paradise Kitchens divided its goals into

Correct Answer
verified

The single most important section of the marketing plan (usually only two pages long) that "sells" the plan to readers is called the

Correct Answer
verified

The SWOT analysis section of a marketing plan identifies a company's

Correct Answer
verified

All of the following are points of difference for Paradise Kitchens except

Correct Answer
verified

Charts are often used to

Correct Answer
verified

The primary purpose of the Paradise Kitchen's company description section of the marketing plan was to

Correct Answer
verified

To translate its core competencies into a sustainable competitive advantage, Paradise Kitchens will work closely with key

Correct Answer
verified

In addition to quality content, a plan's layout and design are also important. Which of the following statements is most accurate?

Correct Answer
verified

The greatest single factor in a new product's failure is

Correct Answer
verified

Exam 24: Building an Effective Marketing Plan

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Correct AnswerverifiedShow Answer

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use a __________ strategy.

Correct AnswerverifiedShow Answer

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Correct AnswerverifiedShow Answer

Which of the following goals uses parallel construction?

Correct AnswerverifiedShow Answer

Which of the following statements regarding marketing and business plans is most accurate?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Which writing and style guideline below still generally applies?

Correct AnswerverifiedShow Answer

The effectiveness of a table is determined by its ability to

Correct AnswerverifiedShow Answer

The format for a marketing plan for an organization depends on the following: (1) the target audience and purpose, (2) __________, and (3) the industry.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

For the benefit of its audience, Paradise Kitchens divided its goals into

Correct AnswerverifiedShow Answer

The single most important section of the marketing plan (usually only two pages long) that "sells" the plan to readers is called the

Correct AnswerverifiedShow Answer

The SWOT analysis section of a marketing plan identifies a company's

Correct AnswerverifiedShow Answer

All of the following are points of difference for Paradise Kitchens except

Correct AnswerverifiedShow Answer

Charts are often used to

Correct AnswerverifiedShow Answer

The primary purpose of the Paradise Kitchen's company description section of the marketing plan was to

Correct AnswerverifiedShow Answer

To translate its core competencies into a sustainable competitive advantage, Paradise Kitchens will work closely with key

Correct AnswerverifiedShow Answer

In addition to quality content, a plan's layout and design are also important. Which of the following statements is most accurate?

Correct AnswerverifiedShow Answer

The greatest single factor in a new product's failure is

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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