A Winning Plan Exam Review

A marketing plan is designed to attract target customers through a set of

• workshops.

• strategies.

• rules.

• acquisitions.

Which of the following is a common reason for writing a marketing plan:

• To replace a business plan

• To hire a new company president

• To enter a new target market

• To announce a merger

Which of the following is a true statement about marketing plans:

• They require a lot of time and effort to write.

• They are important only for new businesses.

• They are internal documents written for management.

• They work best for big companies.

Marketing plans help marketers understand past decisions and outcomes better so that they can avoid

• repeating past mistakes.

• writing new marketing plans.

• explaining problems to management.

• losing market share.

Marketing plans help marketers understand target market(s) better because

• they require personal interviews with people in the target market(s).

• without a marketing plan, a company has no target market(s).

• most of the marketing plan is about the target market(s).

• they require a great deal of research into the target market(s).

A marketing plan forces the marketing team to put its goals in writing, making those goals

• less specific.

• easier to remember.

• better than those of competitors.

• less risky.

How does a marketing plan affect the way the marketing team plans its strategies?

• The team has more difficulty planning strategies.

• The team can plan strategies more quickly.

• The team can plan strategies with more precision.

• The team can plan strategies up to 10 years in advance.

Which of the following is an important benefit of marketing plans:

• They develop exciting products.

• They help recruit quality employees.

• They ensure a yearly profit.

• They can help obtain funding.

Which of the following is a true statement about marketing-plan formats:

• They vary from business to business.

• They must be double-spaced.

• They must include charts and graphs.

• They must put situation analysis before desired target market.

What is the purpose of the executive summary in a marketing plan?

• To list marketing objectives

• To describe the desired target market

• To assess the company’s current marketing situation

• To serve as an introduction