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Exam 8: The Marketing Plan

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Question 21

Multiple Choice

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The _________ is the written statement of marketing objectives,strategies,and activities to be followed in the business plan.

A) marketing plan
B) marketing mix
C) marketing system
D) marketing structure

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Question 22

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Intensive,selective and exclusive are all part of which major consideration in channel selection?

A) Degree of directness
B) Number of channel members
C) Criteria in selection of channel members
D) Number of channels

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Question 23

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A focus group should consist of:

When making decisions about pricing strategy,the entrepreneur should consider only costs directly associated with the product and ignore overhead.

The simplest approach to gathering primary information is by developing a questionnaire.

Neal Blumenthal is the founder of Warby Parker a company that sells prescription eyeglasses over the internet.

It is recommended that the entrepreneur limit the number of marketing goals to no more than four.

Which of the following statements is(are) not true?

The marketing plan is not meant to be a commitment by the entrepreneur to a specific strategy.

_____ is the process of gathering information in order to determine who will buy the product and what is the most appropriate distribution channel.

Unrealistic goals are a common reason for failure of the marketing plan.

The number of goals and objectives in the marketing plan should be:

Middlemen such as wholesalers have lower distribution costs because they operate with economies of scale.

List the 4 major factors of the external environment identified by the marketing system.

The first step in preparing the marketing plan is to define the target market.

If the entrepreneur is constantly faced with significant changes in the marketing strategy,then it is likely that:

Identify and explain the three basic questions a marketing plan should answer.

Interviewing or surveying is the most common approach used to gather primary market data.

A marketing plan need not provide for the use of existing resources,allocation of all equipment,financial resources,and human resources,since this is part of a production plan.

The first step in conducting a competitive analysis is to document the pricing strategy of each competitor.