HW CH 8 LO 1,2,3,4,5,6 The Marketing Plan

Marketing research involves the gathering of information in order to determine who will buy the product and what the most effective promotion strategy would be. 

• True

• False

An effective way to begin defining the purpose of a marketing plan, is to make a list of all the information needed to prepare the marketing plan. 

• True

• False

Competitor analysis begins with: 

• gathering samples of the competitor's product(s)

• discovering each competitor's advertising budget

• documenting the current strategy of each primary competitor

• identifying which competitors are most successful

________ is the process of gathering information in order to determine who will buy the product and what is the most appropriate distribution channel. 

• Market segmentation

• Marketing planning

• Market mixing

• Marketing research

The marketing plan is an integrated part of the _________

• organization plan

• financial plan

• business plan

• risk assessment plan

A brief overview of the entire marketing plan.

• Executive Summary

• Situation Analysis

• Sales Forecast

• Performance Standard

• Pest Analysis

Identifies target markets and sets marketing mix choices that focus on those markets.

• Executive Summary

• Situation Analysis

• SWOT Analysis

• Marketing Strategy

• Market Segmentation

What is the primary purpose of a marketing plan?

• To determine the target market

• To create a product prototype

• To hire new employees

• To manage financial accounts

Which strategy involves decisions about how and where products are produced, acquired, shipped, and sold to customers?

• Product Strategy

• Price Strategy

• Place Strategy

• Promotion Strategy

Which section of the marketing plan includes the mission statement and vision statement?

• Executive Summary

• Business Description

• SWOT Analysis

• Action Plan