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| Question | Answer |
|---|---|
| Which of the following should be included in a marketing plan's executive summary | The organizations mission statement |
| Which of the following is often included in marketing plan's situation analysis | A SWOT analysis chart |
| What section of the marketing plan includes information about expected results? | Performance and implementation |
| Which of the following items might be included in a marketing plan's appendix | A product photograph |
| A marketing plan should outline the specific activities that the business will use to | achieve its marketing objectives |
| Which of the following is an important benefit of marketing plans | They can help obtain funding |
| Where in a marketing plan would a business discuss how it plans to communicate with its customers | Marketing strategies and programs |
| Which of the following is a question that a business should answer about its target market while conducting a situational analysis | What are our customers buying? |
| Which of the following situations presents a business threat to a company | A competitor obtains a bank loan for expansion |
| Which of the following is an external threat that a company might identify while conducting a situation analysis | Rising inflation rate |
| A business identifies a market that shares common characteristics on the basis of where people live and work, which is an example of market identification by _______ segmentation | geographic |
| Businesses that segment the market based on psychographics are grouping people according to their | lifestyles |
| Identifying market segments helps a business to develop appropriate | marketing strategies |
| When a business selects a target market, the most useful or desirable market segments to the business are those that are measurable and | accessible |
| Selecting a target market based on very specific criteria that limit the audience to a well-defined segment is an example of | niche marketing |
| When the Green Company selected its target market, it decided to ignore the segment differences and generate appeal with one offer. The company is using ______ marketing | mass |
| Which of the following is a factor that businesses often consider when conducting a market analysis? | Size of the market next year |
| One of the purposes of conducting a market analysis is to develop a | Customer Profile |
| When a business conducts a market analysis and identifies territories, determines the possible buyers in the territories, and estimates the buyers' purchases, it is evaluating the | areas market potential |
| What is a potential threat a manager might identify in a SWOT analysis? | Growing government regulation |
| Which of the following questions is it important to ask to determine the business's strenghts when conducting a SWOT analysis | Where are we making money? |
| Which of the following is a question that a business might ask when it wants to evaluate its weaknesses | What resources do we lack? missed? |
| One reason why it is often important for businesses to conduct a competitive analysis is to identify | external threats |
| Which of the following is an activity that a business performs when conducting a competitive analysis | Monitores rivals' marketing strategies |
| One way that a business can learn about its competitors' activities is by | reviewing secondary data |
| A business that fials to protect its employees for unnecessary risk or health hazads on the job may be sued for | negligence |
| Which of the following types of laws protects a business's inventions or written works from the unauthorized use by others | intellectual property |
| The primary reason that governments regulate business activities is to | protect the well-being of individuals and businesses |
| A major advantage of a sole proprietorship is | Ease of start-up |
| The form of business ownership that can raise money easily is the | Corporation |
| A disadvantage of a general partnership is that each partner | is liable for the business's losses |