Marketing Plan

PEST analysis is used in what element of the marketing plan?

• Cost

• Competitor analysis

• Current market

• Marketing strategy

The 4 P's of the marketing mix are

• Product, Place, Price, Possession

• Product, Place, Price, Promotion

• Product, Place, Price, Prescription

• Product, Price, Promotion, Process

What is NOT an element of the marketing plan?

• Cost

• Market position

• Competitor analysis

• They are all elements of a marketing plan

What does PEST stand for?

• Political, Economic, Stability, Technological

• Political, Economic, Strengths, Technological

• Political, Economic, Social, Technological

• Political, Economic, Social, Threats

A brief account of the key points contained in a marketing plan

• Executive Summary

• Mission Statement

• Company Description

• Vision Statement

What is the purpose of performing a SWOT Analysis?

• Identifies internal and external factors that may affect the business future performance.

• Evaluates whether the business venture is a good idea.

• Access a organization's performance

• Gives the management team a broader view on the potential opportunity

What does the acronym SWOT stands for?

• Strengths, Weaknesses, Obligations, Threats

• Strengths, Weak points, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Time

Identifying your target market makes it easier and more cost effective to ______.

• appeal to everyone

• push away unnecessary customers

• reach your potential customers

• sell your products to the masses

Members of a target market have similar _______.

• wants

• wants, needs, & interests

• needs

• interests

Tells you who your customer is by providing statistical information about their age, gender, education level, income level, etc.

• demographics

• geographic

• psycholgraphic

• target marketing