A Winning Plan Pretest

Which of the following is one of the main components of a marketing plan:

• Strategy

• Technology

• Regulations

• Competitors

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

• objectives.

• functions.

• mix.

• share.

Which of the following is an example of a marketing objective that a business might include in its marketing plan:

• Achieve $2 million in sales next year

• Increase advertising by 10%

• Hire five new salespeople next month

• Maintain prices at a competitive level

An effective marketing plan usually contains a section that explains the marketing

• mix.

• policy.

• risk.

• concept.

One of the benefits to a business of developing a marketing plan is that it allows the business to

• monitor its performance.

• identify its vendors.

• prepare its advertising.

• forecast its profits.

An effective marketing plan describes specific marketing activities that will be

• accomplished within a set time.

• developed over several years.

• reviewed and changed every year.

• evaluated by the competition.

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

• Pricing strategies

• Billing methods

• Payroll systems

• Accounting procedures

Which component of a marketing plan summarizes the environmental conditions that can affect a business’s marketing activities:

• Situation analysis

• Diagnostic summary

• Conditional assessment

• Environmental synopsis

The financial component of a marketing plan helps a business compare the projected costs of implementing the plan with the expected

• benefits.

• expenses.

• losses.

• strategies.