Deck 17: Marketing Plans

Question 1

Distribution channel members are competitors.

Answer 1

False

Question 2

In considering the 5Cs, marketers evaluate the company via a SWOT analysis.

Answer 2

True

Question 3

Jessica is drafting a marketing plan. The executive summary of her plan should be no longer than one page.

Answer 3

True

Question 4

In a SWOT analysis, strengths are defined relative to providers in other industries.

Question 5

Regarding context in the marketing plan, marketers should be concerned with the following questions: What does the economy look like? Are there political trends or elections, or legal and regulatory constraints that should concern us? What technological advances such as machinery, information technologies, etc. can enhance what we offer to our customers? What's going on in society (sociocultural factors)?

Question 6

There is no reason to include marketing research in your marketing plan.

Question 7

A marketing plan should include information about our competitors' strengths.

Question 8

A marketing plan begins with an executive summary, which is a detailed, lengthy overview of the content of the document that follows.

Question 9

Lumber Sales Co. has good relationships with its providers in the supply chain (lumberjacks, sawmill companies, etc.), and with the channel members downstream from the firm (home improvement stores), so problems will not arise related to shared shelf space, or shared ad space, etc.

Question 10

A situation analysis discusses the 4Ps.

Question 11

Margie is a market researcher who is asking me questions about my attitude about certain products. She is collecting psychographic information.

Question 12

In a marketing plan, the executive summary is typically followed immediately by a situation analysis.

Question 13

In a marketing plan, the section about the 4Ps comes before the section about the 5Cs.

Question 14

The executive summary is at the end of a marketing plan.

Question 15

A SWOT analysis is usually used to assess the 4Ps.

Question 16

In the segmentation portion of a marketing plan, we should start by identifying ideal customers.

Question 17

Context includes things like legal, technical, and social changes.

Question 18

The STP section of a marketing plan usually involves summaries of marketing research.

Question 19

In a marketing plan, tactical plans come after market analyses.

Question 20

Zechariah needs to know as much as he possibly can about the customers he is targeting, and the only way to know about his customers is to get data on them. Studying secondary data
about background trends, etc. is a good place to start.

Question 21

Company A's marketing plan states that it offers a line of products to a single segment. Company B's marketing plan states that it offers multiple products to multiple segments. Company B's marketing plan is more likely to succeed.

Question 22

As situations change, the marketing plan should be modified.

Question 23

If you are writing a marketing plan for a car company, it would be a good idea to remember that a car is a complex good.

Question 24

In the pricing section of his marketing plan, Andy implies that price serves as a mechanism to obtain value back from customers. Andy is correct in this implication.

Question 25

Profit potential and growth potential are only minor considerations in selecting a target market.

Question 26

Maria is writing a marketing plan for her company and has come to the section covering the 4Ps. She needs to remember the product is easier to change than any of the other marketing mix variables.

Question 27

Ben is writing a marketing plan for his company that sells ice cream, while Adam is working on a marketing plan for his amusement park chain. Their marketing plans should be very similar.

Question 28

Billy is writing a marketing plan for his restaurant. It is a good idea for him to say that he will focus on a managerial approach rather than dealing with customer-based assessment.

Question 29

Distribution is synonymous with promotion.

Question 30

When we write about market segmentation in a marketing plan, we should remember that it lies on a continuum between mass marketing and one-to-one marketing.

Question 31

Cluster analysis is usually used for positioning.

Question 32

A marketing plan should not include a timeline.

Question 33

Tarcy Company has experimented with one-to-one marketing, but its newest marketing plan says that it is going to scale back these efforts. This is probably a good idea since one-to-one marketing is not very cost-effective.

Question 34

In writing the targeting portion of the marketing plan, we should consider quantitative factors such as the size of the segment, profitability, and growth.

Question 35

A hotel chain has a Vice President of Customer Experience whose role involves catering to the specific needs and preferences of their most valuable guests. The marketing plan for this hotel chain should describe a customer intimacy strategy.

Question 36

Smith & Sons prides itself on efficient production and delivery of products, in addition to offering low prices and convenience to its customers. Their marketing plan should describe a product leadership strategy.

Question 37

A marketing plan should never identify small segments as targets because it is impossible for them to be profitable enough.

Question 38

Psychological variables are relevant to segmentation.

Question 39

Behavioral variables are not relevant to segmentation.

Question 40

Iggy is working on his company's marketing plan for a new smartphone that also serves as a remote control for televisions, car stereo systems, and MP3 players. After planning the company's segmentation and targeting efforts, Iggy should begin to craft the position of the actual product using all 4Ps: product, price, promotion, and place.

Question 41

"What are we known for?" is a question about which of the 5Cs?

A) customer
B) company
C) context
D) competitors

Question 42

Ranking the desirability of segments is part of which of the following marketing activities?

A) segmentation
B) targeting
C) positioning
D) collaborating

Question 43

Kelly is writing a marketing plan for a new energy drink. What should her plan begin with?

A) situation analysis
B) executive summary
C) positioning statement
D) segmentation analysis

Question 44

Company ABC is consulting an economist to help them understand the economic climate as it affects their business. They are considering which of the 5Cs?

A) customer
B) company
C) context
D) collaborators

Question 45

If we are assessing the macro-environmental issues we must attend to, such as legal, technical, and social changes, then we are considering our .

A) context
B) company
C) customers
D) collaborators

Question 46

Bob is writing a marketing plan and is considering the relationship his company has with distribution channel members. Which of the 5Cs is he thinking about?

A) collaborators
B) competitors
C) customer
D) company

Question 47

With regard to discussing customers of their electronics business, the main consideration for Ben & Franklin's marketing plan should be .

A) a good segmentation study
B) demographic profiles
C) psychographics
D) conjoint analysis

Question 48

In order to truly know its customers, a company should strive to obtain fresh, primary data on which of the following groups of customers?

A) current, past, and potential customers
B) past, potential, and competitors' customers
C) current, past, potential, and competitors' customers
D) current and potential customers

Question 49

The executive summary is typically followed immediately by a .

A) situation analysis
B) target market summary
C) positioning statement
D) segmentation analysis

Question 50

Which of the following is a piece of psychographic information?

A) age
B) income
C) ZIP code
D) attitude to product

Question 51

is executed via the 4Ps.

A) Segmenting
B) Targeting
C) Positioning
D) Competing

Question 52

Staff at Paper Goods, Inc. are working on a marketing plan. One asks another, "When our buyers buy, do they seem to be price sensitive?" They are working on the part of the marketing plan that is related to which of the 5Cs?

A) customer
B) company
C) context
D) collaborators

Question 53

"Who do we want to become?" is a question about which of the 5Cs?

A) customer
B) company
C) context
D) collaborators

Question 54

What is product positioning done through?

A) segmentation
B) the 4Ps
C) product features
D) STP

Question 55

In the spirit of a SWOT analysis, a company's strengths are defined somewhat relative to

A) behavior of non-buyers.
B) customer satisfaction levels.
C) other providers in the marketplace.
D) competitors' misfortunes.

Question 56

A marketing plan workbook functions like a(n) .

A) interviewer
B) analyst
C) friend
D) co-worker

Question 57

Dani and Jacki are brainstorming over possible segments they may want to target with their new smoothie shop in Collegetown, USA. They have a very limited marketing budget, and want to make sure that their money is well spent. One of the questions Dani and Jacki should consider in choosing segments to target is:

A) Will the segment might be profitable enough?
B) How many other smoothie shops in Collegetown, USA are targeting this segment?
C) How many consumers drink smoothies?
D) What do competitors charge for their products?

Question 58

Darrin is wondering whether technology is a threat or an opportunity for his business. Which of the 5Cs is he considering?

A) company
B) context
C) collaborators
D) competitors

Question 59

Sometimes marketers gloss over contextual factors, which is sometimes okay, because many of these factors .

A) fluctuate continuously
B) are relatively stable
C) vary greatly
D) are not significant

Question 60

A marketing plan begins with an assessment of .

A) how things have progressed up to this point
B) where things currently stand
C) where we want things to go
D) the mission statement

Question 61

Camille has started a photography business and is trying to decide between working toward mass exposure or a more exclusive appeal. She is thinking about which of the 4Ps?

A) product
B) price
C) place
D) promotion

Question 62

In her marketing plan, Sheila says that her target market is going to be newlyweds. This would be a good idea if her company is focused on which of the following?

A) charitable giving
B) furniture
C) music
D) health care

Question 63

A CEO says, "I believe that a focus on this customer base fits with our strategic corporate goals." What is he talking about?

A) segmenting
B) targeting
C) positioning
D) leading

Question 64

Marketing plans for goods are typically quite different form those of services because services are more than goods.

A) durable
B) tangible
C) inseparable
D) variable

Question 65

As we consider the 4Ps as they relate to our marketing plan, we should remember that is the easiest one to change.

A) promotion
B) place
C) price
D) product

Question 66

Good Stuff, Inc. sets high prices for its products and seeks profit margin, not volume. Good Stuff's marketing plan should identify which of the following strategies?

A) market production
B) market skimming
C) market penetration
D) price fixing

Question 67

Jenna's beauty salon is thinking about offering occasional discounts for regular customers. They are considering which of the 4Ps?

A) product
B) price
C) place
D) promotion

Question 68

involves understanding the differences among current customers, non-users, and ideal customers.

A) Segmenting
B) Targeting
C) Positioning
D) Collaborating

Question 69

Alayna is starting to write the product section of her marketing plan and wants to say that they offer several product lines that can vary in breadth and depth. It could be helpful for her to describe this as a .

A) product mix
B) marketing mix
C) collection
D) brand

Question 70

"What are our brand associations?" is a question about .

A) products
B) price
C) promotions
D) people

Question 71

Gary is writing about targeting in his marketing plan, and states that empty nesters are an important segment for his company. His company probably has to do with which of the following?

A) music and movies
B) furniture and remodeling
C) higher education
D) travel and hobbies

Question 72

Marketing plans are often viewed as .

A) workbooks
B) carved in stone
C) works in progress
D) promotional tools

Question 73

Deciding on your ideal distribution system relates to which of the 4Ps?

A) product
B) price
C) place
D) promotion

Question 74

"Are we high­end or basic?" is a question about .

A) products
B) price
C) promotions
D) people

Question 75

Debbie owns a gift shop and is trying to decide what her advertising goals are. This is a question about which of the 4Ps?

A) product
B) price
C) place
D) promotion

Question 76

In , we need to choose segments that are big enough to pursue.

A) segmenting
B) targeting
C) positioning
D) competing

Question 77

Cluster analysis helps us with which of the following?

A) segmentation
B) targeting
C) positioning
D) the 4Ps

Question 78

Your company segments customers by gender, age, education, and income. In your marketing plan, you should specify that your company bases its segmentation on factors.

A) demographic
B) geographic
C) psychological
D) behavioral

Question 79

Segmentation should be based on .

A) data
B) opinions
C) laws
D) a vote

Question 80

Megan is writing a marketing plan and is trying to communicate that her company has the benefits that the target market will value. She is working on which section of the marketing plan?

A) segmenting
B) targeting
C) positioning
D) pricing