Marketing Chapter 20 Lesson 1

Often the Go-to-Market plan is the key ingredient that can make or break the process of:

• raising capital for your venture

• recession

• project/service management

• a SWOT Analysis

The marketing department leads the charge in developing the marketing plans, and the quality of a marketing plan improves by:

• ensuring the market size is large

• making sure the owners write the budget portion

• hiring a media advertising company

• getting input from all key stakeholders

With a marketing plan, it’s important to communicate your desired goals and outcomes to ensure:

• revenue projections are met

• everyone on the team is on the same page and can move in the same direction

• profit margins are optimized

• your pricing is similar to your direct competitors

In a marketing plan, you should determine how much money you are committing to spend and what amount of sales revenue you anticipate generating. This component of the plan is the:

• Budget and Expenses

• Expenses and Marketing Mix

• Budget and Projections

• Marketing Mix and Target Market

By knowing objectives in the marketing plan, your team can:

• close the books each month according to accounting practices

• develop a specific set of strategies better and more easily

• be profitable within three years

• gather important information from all key stakeholders

When is a good circumstance or time to write a marketing plan?color?

• new product launch or hiring a new marketing VP

• hiring a new marketing VP or entering a new target market

• new product launch or entering a new target market

• at the end of the fiscal year

In a marketing plan, the Market Research component should include:

• total market size

• current situation

• SWOT analysis

• all the above

When developing your marketing plan, before determining your 4Ps, you should:

• develop your marketing objectives

• develop your appendix

• develop your contingency plans

• develop your marketing budget

Which component of the marketing plan is the one customers will see in action?

• marketing budget

• measurement/KPIs

• marketing mix

• marketing objectives