Marketing Apps Unit 2 Review part 4

The price of raw materials used in manufacturing a product doubled what

had been projected for the year. What can the business determine by

analyzing its financial information?

• Supply and demand

• Equipment Costs

• Variances

• Erros in forecasting

While reviewing financial information, Troy noted that the company

earned $245,956 in January, $248,122 in February, and $252,878 in

March. Which most likely summarizes the financial situation?

• Capital assets are depreciating at a slower rate.

• Cash flow continues to be tight.

• Accounts receivable exceed accounts payable.

• Sales are steadily increasing.

What should Jason avoid doing to shorten his sales cycles?

• Avoid answering objections

• Rely on other team members for product knowledge

• Always use the same sales presentation

• Improve the qualification process

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 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

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

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

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.