Question 1

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use ________ strategy.

Accepted Answer

A)   a penetration pricing
B)   an above-market pricing
C)   a prestige pricing
D)   a specialty product pricing
E)   a loss leader pricingF) A) and C)
G) B) and D)

Question 2

The single most important section of the marketing plan (usually only two pages long)  that "sells" the plan to readers is called the

Accepted Answer

A)   executive summary.
B)   strategic plan.
C)   vision statement.
D)   overview of financial projections.
E)   synopsis.F) C) and D)
G) A) and D)

Question 3

The situation analysis section of a marketing plan is a snapshot to answer the question,

Accepted Answer

A)   Where are we now?
B)   What is the competition doing?
C)   How will our organization change?
D)   What is happening in the industry?
E)   Where are we going?F) A) and D)
G) A) and E)

Question 4

A key difference between a marketing plan and a business plans is that

Accepted Answer

A)   a marketing plan is used for consumer products and a business plan is used for industrial products.
B)   a marketing plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the organization.
C)   a business plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the organization.
D)   a marketing plan covers a greater length of time for its financial projections.
E)   a business plan covers a greater length of time for its financial projections.F) None of the above
G) A) and D)

Question 5

It is helpful to use A-level (the first level)  and B-level (the second level)  headings under the numbered section headings of marketing and business plans. These headings should

Accepted Answer

A)   help readers make easy transitions from one topic to another.
B)   only be used in marketing plans and not in business plans.
C)   only be used in business plans and not in marketing plans.
D)   be used sparingly, otherwise they lose their cohesiveness and effectiveness.
E)   continue in traditional outline form all the way through E-level (the fifth level)  if needed, but no further.F) D) and E)
G) A) and B)

Question 6

Which of these statements regarding bullet points in a marketing plan is most accurate?

Accepted Answer

A)   Avoid using bullet points whenever possible because they distract the reader.
B)   If possible, change the shape of the bullet point (circle, star, square, etc.)  whenever you change topics.
C)   Bullet points should be used with all major headings to help draw attention to them.
D)   Bullet points enable key points to be highlighted effectively in a list form.
E)   Bullet points make it easier to highlight points that require long explanations.F) B) and D)
G) C) and D) D

Question 7

To the company's knowledge, Howlin' Coyote is known for being the only premium-quality frozen ________ sold in U.S. grocery stores.

Accepted Answer

A)   desserts
B)   pizza
C)   chili
D)   sushi
E)   wafflesF) A) and D)
G) B) and D)

Question 8

The price strategy section articulates the specific product price and the product's price position relative to ________. When appropriate, this section would include a

Accepted Answer

A)   potential substitutes; break-even analysis.
B)   the closest competition; situational analysis.
C)   industry standards; marginal analysis.
D)   the closest competition; diversification analysis.
E)   industry standards; break-even analysis.F) D) and E)
G) B) and E)

Question 9

Which of these statements is best suited for a business or marketing plan?

Accepted Answer

A)   This will be a fantastic, once in a lifetime opportunity in the amazing world of chocolate lovers.
B)   This product offers a unique opportunity to meet the needs of consumers who love the flavor of chocolate but who are allergic to cocoa.
C)   What could be better than chocolate? Nothing! That's why this is a phenomenal opportunity for those who really understand the exciting world of chocolate.
D)   We are not kidding. This new non-cocoa chocolate candy is simply irresistible; everyone we gave a sample to fell in love with it.
E)   The fact that this chocolate-flavored candy does not contain cocoa should be a selling point.F) A) and B)
G) A) and C)

Question 10

The primary purpose of the Paradise Kitchens' company description section of the marketing plan was to

Accepted Answer

A)   assure the investors of the company's financial health.
B)   introduce all the members and key players in the organization.
C)   describe the product's competition.
D)   explain how the organization will be structured.
E)   highlight the recent history and successes of the organization.F) A) and C)
G) All of the above

Question 11

Shorter tables or graphs

Accepted Answer

A)   must start at the top of a new page so as not to create page break problems.
B)   can be inserted anywhere in the page of text in a plan and do not have figure numbers.
C)   should not be used since words would be more effective in describing the content than a table or graph.
D)   be at least two inches but not more than five inches high.
E)   are more for style than for substance.F) D) and E)
G) None of the above

Question 12

According to the Paradise Kitchens marketing plan, two-thirds of American households consume Mexican foods. This information is used to infer that there is a more favorable attitude on the part of all Americans toward

Accepted Answer

A)   Southwestern flavors and other regional foods in general.
B)   spicy foods that include red chili peppers.
C)   ethnic foods and regional cuisine.
D)   bean products, cheese products, and tortillas.
E)   heartier foods that are simple to prepare.F) A) and B)
G) None of the above

Question 13

The industry within which a product will compete should affect the format of an organization's business or marketing plan. However, since the complexities of products can differ greatly,

Accepted Answer

A)   the size of the potential workforce included in their plans differs.
B)   the investment potential of investors included in their plans differs.
C)   the experience of the key personnel demonstrated in their plans differs.
D)   the time periods likely to be covered by their plans differ.
E)   the knowledge of technical language used in their plans differs.F) A) and B)
G) B) and E)

Question 14

Which of these statements regarding business or market plan page length is most accurate?

Accepted Answer

A)   As a quick rule of thumb, there should be one page for every $10,000 required in the projected budget.
B)   The length of a business plan should never be less than 30 pages or greater than 35 pages.
C)   The length of the body of the plan should be between 15 and 30 pages including financial projections and appendices.
D)   For every page in the body of the work, there should be at least one additional page in the appendix to complement it.
E)   Although general guidelines suggest a length of 15 to 35 pages, the length of the plan should reflect the complexity of the product or service.F) C) and E)
G) D) and E)

Question 15

The financial data and projections section of the marketing plan for Paradise Kitchens includes two subsections:

Accepted Answer

A)   past sales revenues and current return on investment.
B)   current return on investment and revenues projected for the next year.
C)   current return on investment and revenues projected for the next five years.
D)   past sales revenues and revenues projected for the next five years.
E)   current debt and requested financing.F) C) and D)
G) B) and E)

Question 16

Which of these statements regarding the appendices section of a marketing plan is most accurate?

Accepted Answer

A)   An appendix is not necessary if the body of the marketing plan was properly written.
B)   An appendix should never have more than one page for every seven in the marketing plan.
C)   The nature and number of pages in an appendix should directly relate to the plan's purpose and audience.
D)   It is best to include a variety of representations (graphs, tables, photographs, diagrams, etc.)  rather than one single type (all graphs, all tables, etc.) .
E)   There is no need to label Appendices A, B, C, etc., unless each appendix represents an entirely different product, product line, or division. F) All of the above
G) B) and C)

Question 17

All of these are points of difference for Paradise Kitchens except which?

Accepted Answer

A)   high-quality, authentic frozen chili
B)   combination of quick preparation and homestyle taste
C)   mild spices for the relatively inexperienced American palate
D)   premium packaging
E)   a range of chili product flavorsF) A) and B)
G) B) and C)

Question 18

The place/distribution strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will initially be sold

Accepted Answer

A)   to restaurants specializing in American cuisine.
B)   through company-owned stores at outlet malls.
C)   exclusively to mass merchandisers such as Walmart and Target.
D)   through a food distributor, which in turn will sell directly to grocery stores.
E)   online to consumers to bypass "the middleman"; the product will be shipped using packed dry ice containers to keep it frozen during transportation.F) C) and D)
G) B) and E) D

Question 19

The industry analysis section of a marketing plan provides perspective for information regarding

Accepted Answer

A)   the competition, the economy, and the company's customers.
B)   the company, the economy, and the company's customers.
C)   current trends, the competition, and the economy.
D)   current trends, projected changes, competitive advantages.
E)   the competition, the company, and the company's customers.F) A) and B)
G) A) and C)

Question 20

The target markets section of a marketing plan identifies the specific ________ toward which the company's products are directed.

Accepted Answer

A)   resellers
B)   competitors
C)   stakeholders
D)   product groupings
E)   nichesF) All of the above
G) B) and E) E

Exam 23: Building an Effective Marketing Plan

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use ________ strategy.

Correct AnswerverifiedShow Answer

The single most important section of the marketing plan (usually only two pages long) that "sells" the plan to readers is called the

Correct AnswerverifiedShow Answer

The situation analysis section of a marketing plan is a snapshot to answer the question,

Correct AnswerverifiedShow Answer

A key difference between a marketing plan and a business plans is that

Correct AnswerverifiedShow Answer

It is helpful to use A-level (the first level) and B-level (the second level) headings under the numbered section headings of marketing and business plans. These headings should

Correct AnswerverifiedShow Answer

Which of these statements regarding bullet points in a marketing plan is most accurate?

Correct AnswerverifiedD

To the company's knowledge, Howlin' Coyote is known for being the only premium-quality frozen ________ sold in U.S. grocery stores.

Correct AnswerverifiedShow Answer

The price strategy section articulates the specific product price and the product's price position relative to ________. When appropriate, this section would include a

Correct AnswerverifiedShow Answer

Which of these statements is best suited for a business or marketing plan?

Correct AnswerverifiedShow Answer

The primary purpose of the Paradise Kitchens' company description section of the marketing plan was to

Correct AnswerverifiedShow Answer

Shorter tables or graphs

Correct AnswerverifiedShow Answer

According to the Paradise Kitchens marketing plan, two-thirds of American households consume Mexican foods. This information is used to infer that there is a more favorable attitude on the part of all Americans toward

Correct AnswerverifiedShow Answer

The industry within which a product will compete should affect the format of an organization's business or marketing plan. However, since the complexities of products can differ greatly,

Correct AnswerverifiedShow Answer

Which of these statements regarding business or market plan page length is most accurate?

Correct AnswerverifiedShow Answer

The financial data and projections section of the marketing plan for Paradise Kitchens includes two subsections:

Correct AnswerverifiedShow Answer

Which of these statements regarding the appendices section of a marketing plan is most accurate?

Correct AnswerverifiedShow Answer

All of these are points of difference for Paradise Kitchens except which?

Correct AnswerverifiedShow Answer

The place/distribution strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will initially be sold

Correct AnswerverifiedD

The industry analysis section of a marketing plan provides perspective for information regarding

Correct AnswerverifiedShow Answer

The target markets section of a marketing plan identifies the specific ________ toward which the company's products are directed.

Correct AnswerverifiedE

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D

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D

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E