MA52 Unit 1 Review

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

strategies?

• The team has more difficulty planning strategies.

• The team can plan strategies up to 10 years in advance.

• The team can plan strategies with more precision.

• The team can plan strategies more quickly.

The financial component of a marketing plan helps a business to compare

the projected costs of implementing the plan with which expected

factors?

• Benefits

• Expenses

• Losses

• Strategies

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

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

What type of information do businesses include in their marketing plans?

• Billing methods

• Pricing strategies

• Payroll systems

• Accounting procedures

A manufacturer expects product sales to increase during the coming year.

How does this information affect product production?

• Production should decrease.

• Production should increase.

• Production should remain stable.

• Production should not be affected.

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 understood

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.

One of the main reasons for developing a marketing plan is to identify

the strategies necessary to achieve which component or components of

marketing?

• Functions

• Objectives

• Mix

• Share

When conducting an external environmental analysis, businesses often

focus on which factor or factors?

• Previous demand

• Industry growth

• Marketing goals

• Financial costs