Question 1

Which of the following 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) A) and D)
G) A) and C)

Question 2

As part of its competitor analysis section of its marketing plan, Paradise Kitchens discussed the chili market, which represents over $500 million in annual sales. Chili products fall into two categories, which are

Accepted Answer

A)  canned chili and dry chili.
B)  frozen and canned chili.
C)  pre-made and ready-to-make chili kits.
D)  Mexican chili and "Americanized" chili.
E)  chili with meat (con carne)  and vegetarian chili with beans.F) A) and E)
G) All of the above

Question 3

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Accepted Answer

A)  Who is your competition and what are they doing?
B)  Who will be your key suppliers?
C)  Does the plan clearly describe how those providing capital will get their money back and make a profit?
D)  What are your taxes?
E)  Does the prospective product meet all government safety standards?F) A) and D)
G) B) and E)

Question 4

Which of the following statements regarding visuals is most accurate?

Accepted Answer

A)  Visuals should not be used unless they are in black and white; color is not considered professional in a formal business plan.
B)  Visuals should be used sparingly because it is assumed that if you cannot explain an idea in words, you don't have a sufficient grasp of your product.
C)  Visuals such as illustrations, graphs, and charts are acceptable; photos are less professional and should be avoided.
D)  Visuals such as photos, illustrations, graphs, and charts enable massive amounts of information to be presented succinctly.
E)  Visuals should appear in the appendices of the plan, never in the body of the plan itself.F) None of the above
G) A) and C)

Question 5

For readability and clarity, Paradise Kitchens presents its SWOT analysis section of a marketing plan as a figure . It's divided into two sections:

Accepted Answer

A)  Company Analysis; Industry Analysis.
B)  Internal Factors: Opportunities and Threats; External Factors: Strengths and Weaknesses.
C)  Internal Factors: Strengths and Weaknesses; External Factors: Opportunities and Threats.
D)  Financial Factors; Nonfinancial Factors.
E)  Domestic Issues; Global Issues.F) B) and D)
G) A) and B)

Question 6

Which of the following 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 audience and its purpose.
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) B) and E)
G) A) and C)

Question 7

Ideally, each numbered section should start __________ to improve readability.

Accepted Answer

A)  with all capital letters
B)  in a font size at least three points larger than the body of the text
C)  on a new page
D)  either capitalized and bolded or italicized and underlined
E)  with a brief introduction of what will be discussedF) A) and D)
G) None of the above

Question 8

In which section of a marketing plan would you most likely expect to see a chart?

Accepted Answer

A)  strategy
B)  organization
C)  implementation
D)  evaluation
E)  appendixF) A) and B)
G) None of the above

Question 9

Which of the following 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) B) and E)
G) C) and E)

Question 10

In the financial data and projections section of the Paradise Kitchens marketing plan, the company chose to use a bar chart in addition to a numerical table to present its actual and projected sales revenues from 2015 to 2020. Paradise Kitchens made this decision because

Accepted Answer

A)  the bar chart made the lack of sales for the previous years less dramatic.
B)  the numerical sales figures were too difficult to interpret.
C)  there was too much information to present in such small physical space.
D)  a bar chart could gloss over inconsistencies and anomalies.
E)  the bar chart more clearly shows the company's projected growth.F) D) and E)
G) None of the above

Question 11

A(n)  __________ helps communicate the company's unique points of difference of its products to prospective customers in a simple, clear way.

Accepted Answer

A)  positioning strategy
B)  market-product grid strategy
C)  competition analysis
D)  implementation strategy
E)  situational analysisF) C) and D)
G) A) and B)

Question 12

Paradise Kitchens used external secondary data to provide evidence that there is a growing trend in frozen prepared foods. According to its marketing plan, prepared frozen meals accounted for around __________ percent of the total frozen food market.

Accepted Answer

A)  5
B)  17
C)  25
D)  32
E)  41F) A) and E)
G) C) and D)

Question 13

The chances of success for a new product are significantly increased if

Accepted Answer

A)  the company sets goals that both flexible and adaptable.
B)  objectives are set for the product itself and target market segments are identified for it.
C)  at least 25 percent of the initial budget includes advertising and promotional expenditures.
D)  all initial production, distribution, and promotion are done in-house where management can exert the greatest quality control.
E)  the firm outsources those elements of production, distribution, or promotion in which it has the least expertise.F) A) and E)
G) C) and D)

Question 14

The format for a marketing plan for an organization depends on the following: (1)  the target audience and purpose, (2)  the kind and complexity of the organization, and (3)  __________.

Accepted Answer

A)  the financial investment needed
B)  the time frame
C)  the available resources
D)  the industry
E)  the competitionF) B) and E)
G) A) and B)

Question 15

The three key elements of the product strategy section in the Paradise Kitchens marketing plan are

Accepted Answer

A)  product benefits, product line, and product packaging.
B)  product characteristics, branding strategies, and packaging.
C)  unique product quality, product line, and branding strategies.
D)  product line, unique product quality, and packaging.
E)  product line, product brand, and product packaging.F) A) and C)
G) None of the above

Question 16

The three key elements of the promotion strategy section in the Paradise Kitchens marketing plan are

Accepted Answer

A)  quantity discounts, in-store demonstrations, a chili eating contest.
B)  bundle pricing with a chili bowl, in-store demonstrations, and cents-off coupons.
C)  a chili eating contest, in-store demonstrations, and cents-off coupons.
D)  a contest for the best new slogan, a chili eating contest, and free taste tests at major grocery chains.
E)  in-store demonstrations, recipes, and cents-off coupons.F) B) and E)
G) A) and C)

Question 17

In terms of paragraph style, most readers prefer

Accepted Answer

A)  block style because the appearance of the text is cleaner.
B)  block style because it seems more professional.
C)  block style because it lends itself better to financial documents.
D)  indented paragraphs because they make longer documents easier to read.
E)  indented paragraphs because they are more in keeping with professional business prose.F) B) and D)
G) None of the above

Question 18

Paradise Kitchens included a detailed figure to highlight its SWOT analysis. However,

Accepted Answer

A)  there was no further explanation or written summary.
B)  it was complemented by a short, but more in-depth, discussion of important points.
C)  it failed to perform a situation analysis.
D)  it did not include an industry analysis.
E)  it also included a page-long explanation of each of the four factors.F) B) and C)
G) None of the above

Question 19

The target audience and purpose affect the format of a business or marketing plan. For example, an element such as the level of detail should reflect

Accepted Answer

A)  the kind and complexity of the organization.
B)  the educational background of the key personnel.
C)  the investment potential of the investors.
D)  how well you know your audience.
E)  whether the plan is for a product or service.F) A) and B)
G) A) and C)

Question 20

While several different groups of stakeholders are likely to read a business or marketing plan, which group is likely to be the most critical of these documents?

Accepted Answer

A)  potential employees
B)  potential customers
C)  potential suppliers
D)  future distributors, wholesalers, and retailers
E)  possible investors or lendersF) D) and E)
G) C) and D)

Exam 24: Building an Effective Marketing Plan

Which of the following statements regarding visuals is most accurate?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The three key elements of the product strategy section in the Paradise Kitchens marketing plan are

Correct AnswerverifiedShow Answer

In which section of a marketing plan would you most likely expect to see a chart?

Correct AnswerverifiedShow Answer

Paradise Kitchens included a detailed figure to highlight its SWOT analysis. However,

Correct AnswerverifiedShow Answer

The target audience and purpose affect the format of a business or marketing plan. For example, an element such as the level of detail should reflect

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

As part of its competitor analysis section of its marketing plan, Paradise Kitchens discussed the chili market, which represents over $500 million in annual sales. Chili products fall into two categories, which are

Correct AnswerverifiedShow Answer

In terms of paragraph style, most readers prefer

Correct AnswerverifiedShow Answer

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Correct AnswerverifiedShow Answer

Ideally, each numbered section should start __________ to improve readability.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The three key elements of the promotion strategy section in the Paradise Kitchens marketing plan are

Correct AnswerverifiedShow Answer

The format for a marketing plan for an organization depends on the following: (1) the target audience and purpose, (2) the kind and complexity of the organization, and (3) __________.

Correct AnswerverifiedShow Answer

A(n) __________ helps communicate the company's unique points of difference of its products to prospective customers in a simple, clear way.

Correct AnswerverifiedShow Answer

The chances of success for a new product are significantly increased if

Correct AnswerverifiedShow Answer

While several different groups of stakeholders are likely to read a business or marketing plan, which group is likely to be the most critical of these documents?

Correct AnswerverifiedShow Answer

For readability and clarity, Paradise Kitchens presents its SWOT analysis section of a marketing plan as a figure . It's divided into two sections:

Correct AnswerverifiedShow Answer

In the financial data and projections section of the Paradise Kitchens marketing plan, the company chose to use a bar chart in addition to a numerical table to present its actual and projected sales revenues from 2015 to 2020. Paradise Kitchens made this decision because

Correct AnswerverifiedShow Answer

Paradise Kitchens used external secondary data to provide evidence that there is a growing trend in frozen prepared foods. According to its marketing plan, prepared frozen meals accounted for around __________ percent of the total frozen food market.

Correct AnswerverifiedShow Answer

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