MA 1.04 Review

This is the process of dividing a large group of consumers into subgroups based on specific characteristics and common needs.

• market segmentation
• market sharing

Which is not part of the SWOT analysis?

• Strength
• Weakness
• Opposition
• Threat

Which of the following is not one of the 4 p's ?

• Product 
• Profit 
• Price
• Promotion

Which is an example of an internal change that could affect a sales forecast?

• A direct competitor is planning a new promotional campaign.
• The birth rate increased following a war.
• A new product line is to be offered by the business. 
• The economy is struggling with a major drop in stock market prices. 

An international soft-drink company that wants to add bottled spring water to its product mix has determined that there are four major brands that hold the majority of the market share for that product. The strengths and weaknesses of each potential competitor have been examined. This is an example of what factor? 

•  The action plan
• The marketing strategy 
• The situation analysis 
• The purpose and mission

The purpose of the marketing planning process is to balance the internal strengths and weaknesses of a company with which external factors? 

• Costs and expenses
• Products and resources
• Opportunities and threats
• Goals and objectives

How does a marketing plan affect the way the marketing team plans its strategies?

• The team has more difficulty planning strategies. 
• B. The team can plan strategies up to 10 years in advance. 
• C. The team can plan strategies with more precision. 
• D. The team can plan strategies more quickly. 

When conducting an external environmental analysis, businesses often focus on which factor or factors?

• Previous demand
• Industry growth
• Marketing goals
• Financial costs

To convince someone to use quantitative sales forecasting, which factor should be stressed? 

• Variety of opinions
• Factual basis
• Minimal cost
• Ease with which findings are understooEase with which findings are understood

To convince someone to use quantitative sales forecasting, which factor should be stressed? 

• Billing methods
• Pricing strategies
• Payroll systems
• Accounting procedures