Marketing Planning Unit Test Review

The SWOT analysis only evaluates how the company is performing internally.

• True

• False

The 80/20 Rule states: 80% of company’s sales are generated by 20% of their loyal customers

• True

• False

Obesity has become an issue in the United States as it causes many health problems. Consumers advocate for healthier eating habits. This is an example of how social factors influence the PEST analysis.

• True

• False

A marketing plan is a formal written document that directs activities for a specific time.

• True

• False

The definition of disposable income is the income left after paying taxes and your necessities.

• True

• False

Which of the statements below are true characteristic of a Marketing Plan?

• A road map for how a product will enter the market, be advertised and sold

• Communicates the goals, objectives, and strategies of a company’s management team

• Helps monitor a company’s performance

• All of the choices.

What does SWOT stand for?

• Strong, Weaknesses, Opportunities, Time

• Strengths, Weaknesses, Opportunities, Time

• Strengths, Weaknesses, Opportunities, Threats

Which components of SWOT analysis are internally focused?

• Strengths and Opportunities

• Weaknesses and Time

• Strengths and Weaknesses

Which components of SWOT analysis are externally focused?

• Weaknesses and Time

• Strengths and Weaknesses

• Opportunities and Threats

An internal and external analysis of what the company is doing well and what it can improve upon in order to give focus on how they should proceed.

• PEST

• NEST

• SWOT