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Exam 5: The Marketing Plan

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Question 1

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A savvy firm must constantly review and reevaluate its marketing plans.

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Question 2

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Thorough data collection and analysis will allow:

A) Determination of competitive advantages
B) Determination of opportunities
C) Determination of data analysis
D) None of the above

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Question 3

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External data collection includes the environment which includes international and domestic trends.

The component of the marketing plan that projects marketing expenses to be incurred for the forthcoming year is:

The marketing plan has to remain simple and easy to execute.

Any company competing for the same customer with the same or similar product is:

The plan of action set forth in a marketing plan that include time frames and who will implement the plan describes:

Goals put forth in a marketing plan must be realistic.

External data pertains to each of the following EXCEPT:

When a new business is created, it needs to know with whom it is competing.

Data collection is divided into two parts: international and domestic trends.

_______is an analysis of major profit areas to see what gaps need to be filled.

Needs analysis also means identifying other marketing problems.

Some gaps that could be filled with a property needs analysis includes all of the following EXCEPT:

The marketing plan begins with:

When a firm has to evaluate its competition, it should do so objectively.

The mission statement of a firm does not include the vision of the firm.

Which one of the following is NOT one of the key elements of a successful marketing plan?

Which of these is NOT needed when conducting data analysis?

A good marketing plan does not need to provide direction for the organization.