Marketing Chapter 2

A document that describes business and marketing goals and the strategies and tactics that will be used to achieve them is a __________.

• business plan

• situation analysis

• marketing plan

• market share plan

A snapshot of the environment in which a business has been operating over a given period of time is a(n) __________.

• situation analysis

• SWOT analysis

• PEST analysis

• environmental scan

__________ are internal factors that place a company at a disadvantage relative to competitors.

• political factors

• weaknesses

• economic factors

• threats

Which of the following is not a characteristic of a target market?

• Clearly defined wants and needs the business can meet

• Enough customers to be profitable

• External factors that can jeopardize a company's growth

• Money to buy the product

What is market share?

• The maximum number of customers and amount of sales that can be generated from a specific segment in a defined period

• Two or more businesses attempting to attract the same customers

• The percentage of total sales in a market that is held by one business

• The total sales per year for a specific product held by all the competing businesses

An executive summary __________.

• provides an overview by highlighting the critical points in the marketing plan

• details information about market and sales analyses that have been performed

• is what the business aspires to accomplish

• presents and overview of the business as outlined in the business plan

What is included in the analysis section of a marketing plan?

• competitive analysis

• market analysis and sales analysis

• marketing strategies

• time line and budget

Which of the following is not included in the sales analysis section of a marketing plan?

• best opportunities

• sales goals

• vision statement

• sales history and projections

Simple and clear statements of the results to be accomplished through marketing efforts are __________.

• marketing strategies

• sales goals

• promotion strategies

• marketing goals

What are product strategies?

• Decisions about how and where products are produced, acquired, shipped, and sold to customers

• Decisions made about which products a business should sell

• Decisions about which selling, advertising, sales promotions and public relations activities to use in the promotional mix

• Decisions about pricing and how prices are set to make a profit