THC 10 Midterm Examination

Part of a business plan and is the foundation for identifying your market, attracting prospects, converting them into customers, and retaining them as customers.

A good marketing plan set goals and provide direction for future marketing efforts that are attainable.

• True

• False

A good marketing plan details what you want to accomplish and helps you meet your objectives

• True

• False

A good marketing plan explain the target market in which your business is competing.

• True

• False

Characteristics of a good marketing plan, EXCEPT

• Be a fluid document that is used, maintained, and updated as your business grows and succeeds.

• Specify accountability and measures for all activities.

• Set clear, realistic, and measurable targets.

• None of the above

Initial planning and preparation will help maximize the stress in developing a well-structured marketing plan.

• True

• False

SWOT means

SMART means

Conduct competitive analysis, including their marketing efforts. Determine what differentiates your product or service from competitors.

• True

• False

Which of the following planning process is/are part of a marketing strategies or methods

• Create your messaging, including taglines, product descriptions, and call to action plan, e.g. Direct the prospect to contact you or go to your web site).

• Determine how you will promote your product: Networking, advertising, submitting responses to Request for Proposals (RFPs), social networking sites, web site, phone calls, email blasts, etc.

• Create brand awareness by promoting your product and distinguishing it from competitors.

• All of the above