Question 1

Competitor analysis begins with:

Accepted Answer

A)   gathering samples of the competitors product(s) .
B)   discovering each competitors advertising budget.
C)   documenting the current strategy of each primary competitor.
D)   identifying which competitors are most successful.

Question 2

The major interacting components that enable a firm to successfully provide products to the marketplace are called the:

Accepted Answer

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

Question 3

In establishing goals and objectives,it is important to:

Accepted Answer

A)   quantify all aspects of the goals.
B)   limit the number of goals.
C)   set standards that are ideal.
D)   measure it for control purposes.

Question 4

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.

Accepted Answer

A) True 
 B)False

Question 5

Focus groups:

Accepted Answer

A)   should be led by the entrepreneur.
B)   consist of 20 to 30 potential customers.
C)   discuss information in a formal and standardized procedure.
D)   are an informal method of gathering market information.

Question 6

Marketing research involves the gathering of information in order to determine who will buy the product and what the most effective promotion strategy would be.

Accepted Answer

A) True 
 B)False

Question 7

All marketing goals and objectives should be quantifiable in physical units,time units,or price units.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is not a key element in the pricing strategy

Accepted Answer

A)   Cost
B)   Margin or markup
C)   Competition
D)   Distribution

Exam 8: The Marketing Plan

Competitor analysis begins with:

Correct Answer
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Marketing research involves the gathering of information in order to determine who will buy the product and what the most effective promotion strategy would be.

Correct Answer
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Focus groups:

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

Correct Answer
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In establishing goals and objectives,it is important to:

Correct Answer
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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.

Correct Answer
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Which of the following is not a key element in the pricing strategy

Correct Answer
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All marketing goals and objectives should be quantifiable in physical units,time units,or price units.

Correct Answer
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The major interacting components that enable a firm to successfully provide products to the marketplace are called the:

Correct Answer
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Exam 8: The Marketing Plan

Competitor analysis begins with:

Correct AnswerverifiedShow Answer

Marketing research involves the gathering of information in order to determine who will buy the product and what the most effective promotion strategy would be.

Correct AnswerverifiedShow Answer

Focus groups:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In establishing goals and objectives,it is important to:

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Which of the following is not a key element in the pricing strategy

Correct AnswerverifiedShow Answer

All marketing goals and objectives should be quantifiable in physical units,time units,or price units.

Correct AnswerverifiedShow Answer

The major interacting components that enable a firm to successfully provide products to the marketplace are called the:

Correct AnswerverifiedShow Answer

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