MP07 Marketing Plan

A marketing plan is often included as part of a company’s overall business plan.

• true

• false

Marketing plans are important only for big companies.

• true

• false

Answer explanation

marketing plans are important for companies both big and small

Marketing plans stay within the marketing team.

• true

• false

Answer explanation

marketing plans are read by a wide audience, including employees throughout the

organization, potential investors, and board members

Writing a marketing plan involves quite a bit of time and effort.

• true

• false

Writing a marketing plan helps a company understand its target market(s) better.

• true

• false

Marketing goals are best if they are general.

• true

• false

Answer explanation

specific marketing goals are best because they are easier to remember, to stick to, to

measure, and to achieve

Marketing plans are never used to obtain funding from outside investors.

• true

• false

Answer explanation

marketing plans can be used to obtain funding from outside investors as well as

funding from within the organization, such as a portion from the yearly budget

Marketing plans make it more difficult for a company to track its progress.

• true

• false

Answer explanation

marketing plans make it easier for a company to track its progress because they

provide a gauge for success

Marketing-plan formats vary from business to business.

• true

• false

The executive summary is the shortest and least important part of the marketing plan.

• true

• false

Answer explanation

the executive summary may be short, but it is very important because in some cases, it

is the only part of the marketing plan that people will take the time to read