Marketing Plan # 2

Marketing planning is an ongoing process that works best if business obtain input from a(n)

• group of researchers.

• industry organization.

• wide range of sources.

• unrelated third party.

An important aspect of marketing planning involves a(n)

• creative process

• sales forecast

• time measurement

• internal assessment

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

• competitors

• technology

• regulations

• strategy

A marketing plan is an important part of the overall ____ plan.

• business

• promotional

• sales

• manangement

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

• conditional assessment

• diagnostic summary

• situational analysis

• environmental synopsis

An effective marketing plan describes specific marketing activities that will be

• developed over several years

• accomplished within a set time

• review and changed every year

• evaluated by the competition

Which of the following is an example of a possible opportunity that a business might identify as a result of conducting a situational analysis:

• suppliers raising their prices

• increases in operating expenses

• customers changing their habits

• declines in economic conditions

Which of the following is a possible external threat that a business might identify as a result of conducting a situational analysis during the marketing planning process:

• contract with a new supplier

• change in pricing structure

• downturn in the economy

• decrease in operating expense

If a situation analysis reveals that the company has a comprehensive, current, and flexible database system, it has identified a (n)

• product benefit

• external asset

• internal strength

• technological flaw

Why is it important for businesses to regularly analyze the external environment in which they operate?

• to calculate proft

• to be socially responsible

• to behave ethically

• to understand change