Understanding Your Marketing Plan

What is the main purpose of a Marketing Plan?

• To make the company look good

• To direct and coordinate all marketing efforts within a firm

• To spend as much money as possible

• To confuse competitors

At which two levels does a Marketing Plan usually operate?

• Basic and Advanced

• Strategic and Tactical

• Local and Global

• Short-term and Long-term

What should a good Marketing Plan include to help meet objectives?

• A list of competitors

• Clear, realistic, and measurable targets

• A history of the company

• A list of employees

Why is it important to set deadlines in a Marketing Plan?

• To make the plan look more professional

• To ensure targets are met on time

• To impress customers

• To confuse competitors

What should a Marketing Plan provide for all marketing activities?

• A list of employees

• A budget

• A map

• A timeline

Which of the following is a major step in creating a Marketing Plan?

• Buying new office furniture

• Planning

• Hiring more staff

• Redecorating the office

What is one of the critical questions to ask when creating a Marketing Plan?

• What is the weather like today?

• What is unique about your business idea?

• How many holidays do employees get?

• What is your favourite colour?

What should you do to understand the external market in which your business is competing?

• Ignore it

• Explain it in your Marketing Plan

• Copy competitors

• Change your business name

What is the purpose of measuring results in a Marketing Plan?

• To make the plan longer

• To diagnose results and take corrective action

• To impress friends

• To confuse competitors

Which element of a Marketing Plan involves describing your business?

• Conduct a Situation Analysis

• Describe Your Business

• Define Your Customer

• Track Marketing Activities