Marketing Essentials Ch. 2 Assessment

The acronym SWOT stands for which of the following?

• Strengths, Weaknesses, Opportunities, and Threats

• Strengths, Weaknesses, Organizations, and Tariffs

• Segmentation World-wide web, Organizations, and Tariffs

• Segmentation, World-wide web, Ocean and Tide

Strengths and Weaknesses are what type of factors?  

• External factors

• Internal factors

• Promotion factors

• Opportunity factors

What are the 4 Ps in the Marketing Mix?

• Strengths, Weaknesses, Opportunities, and Threats

• Internal factors & External Factors

• Product, Price, Place, Promotion

• Product, Price, Process, Planning

Every weakness in the SWOT analysis is also an

• Strength

• Internal factors

• Product, Price, Place, Promotion

• Opportunity

Political, Economic, Socio-Cultural, and Technological (also known as PEST) are the four areas in what analysis that focuses on outside influences?

• Strengths, Weaknesses, Opportunities, and Threats

• Internal Scan

• Product, Price, Place, Promotion

• Environmental Scan

A formal written document that directs a company’s activities for a specific period of time is also known as what?

• Marketing Plan

• SWOT

• Product, Price, Place, Promotion

• Letter of Opportunity

Put the following Elements of a Marketing Plan in order.

• Executive Summary, SWOT Analysis, Marketing Strategies using the 4 P’s, Implementation, Evaluation and Control, Appendix

• SWOT Analysis, Marketing Strategies using 4Ps, Evaluation and Control, Implementation, Executive Summary, Appendix

• SWOT Analysis, Marketing Strategies using 4Ps, Implementation, Executive Summary, Evaluation and Control, Appendix

• Marketing Strategies using 4Ps, Appendix, Evaluation and Control, Executive Summary, SWOT Analysis, Implemantation

What is a sales forecast?

• A projection of probable, future sales in units or dollars, budgets, details of each activity, and who will be responsible for each activity.  

• A projection of actual sales

• A projection of actual budgets

• A projection of units only

Why are evaluation and control important elements of a marketing plan? 

• It measures weaknesses

• It measures strengths

• It measures customers values and beliefs

• It measures how well a company has met its objectives

What is it called when a market is broken down into smaller groups based on common characteristics?

• Market Segmentation

• Internal factoring

• SWOT

• PEST