Question 1

A unique aspect of Paradise Kitchens' packaging is that

Accepted Answer

A)   the information is printed in English on one side and Spanish on the other.
B)   the color of the box gets redder as the spices get hotter.
C)   there is a Southwestern motif on the box instead of pictures of the product.
D)   there is a thermometer strip that indicates when the product is properly thawed.
E)   there are hidden figures created by the outlines of the chili beans for people to look at while preparing the meal.F) A) and B)
G) A) and D)

Question 2

To the company's knowledge,Paradise Kitchens 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) C) and D)
G) A) and B)

Question 3

To help buyers see the many different uses for Howlin' Coyote Chili,the company has

Accepted Answer

A)   sponsored a recipe contest with the first prize being a trip for two to Mexico.
B)   used bundle pricing with a chili bowl and a selection of products.
C)   sponsored a series of short but informative commercials on the Cooking Channel.
D)   published small, full-color, illustrated pamphlets as buyer incentives to its wholesalers.
E)   printed recipes on the inside of its packaging.F) B) and D)
G) A) and E)

Question 4

According to its marketing plan,Paradise Kitchens is positioning itself in consumers' minds as

Accepted Answer

A)   a moderately priced "homestyle taste of the Southwest" chili.
B)   a low-cost "Mexican/American meld of flavors" for easy-to-prepare frozen entrees.
C)   traditional "Taste of Mexico" that uses all organic ingredients in semiprepared meals.
D)   very high-quality "gourmet Southwestern/Mexican" frozen entrees and desserts.
E)   very high-quality "authentic Southwestern/Mexican tasting" chilies that can be prepared easily and quickly.F) A) and D)
G) B) and E) E

Question 5

There is no single generic marketing plan that can apply to all organizations or all institutions.Rather,the specific format for a marketing plan for an organization depends on the following: the target audience and purpose,the kind and complexity of the organization,and

Accepted Answer

A)   the financial investment needed.
B)   the time frame.
C)   available resources.
D)   the industry.
E)   the competition.F) All of the above
G) C) and D)

Question 6

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Accepted Answer

A)   use different color fonts or paper to represent different sections of your plan
B)   use informal language unless you plan to borrow at least $100,000
C)   include as an attachment the résumés for all key players in your management team
D)   set a firm date by which you will require an answer from a potential investor, after which you will take your plan somewhere else
E)   use care in layout, design, and presentationF) B) and E)
G) A) and D)

Question 7

The implementation plan

Accepted Answer

A)   describes the formation of the marketing program.
B)   displays the projected financial results of the plan.
C)   shows how the company will turn plans into results.
D)   identifies how the firm will select its target markets and position its products.
E)   analyzes its marketing opportunities and threats.F) None of the above
G) A) and E)

Question 8

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) A) and B)
G) B) and C)

Question 9

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

Question 10

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) D) and E)
G) A) and C) A

Question 11

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 analysisF) A) and E)
G) None of the above

Question 12

If the following statement were included in the evaluation section of the Paradise Kitchens marketing plan,"The speed of the rollout program will increase or decrease depending on Paradise Kitchens' performance in the successive metropolitan markets it enters," what would be the purpose of this statement?

Accepted Answer

A)   to act as a contingency plan for alternative actions
B)   to sidestep responsibility if things do not go according to plan
C)   to create an open dialog for additional financial requests
D)   to gloss over possible forecasting ambiguities
E)   to avoid setting specific monetary goalsF) A) and E)
G) D) and E) A

Question 13

The two key elements of the customer analysis section of the Paradise Kitchens marketing plan are

Accepted Answer

A)   customer characteristics plus health and nutrition concerns.
B)   customer characteristics and target market demographics.
C)   consumer demographics and geographical distribution.
D)   consumer demographics and consumer psychographics.
E)   consumer psychographics and consumer life style data.F) A) and B)
G) All of the above

Question 14

When appropriate and space permits,the price strategy section of a marketing plan would include a

Accepted Answer

A)   SWOT analysis.
B)   situational analysis.
C)   marginal analysis.
D)   diversification analysis.
E)   break-even analysis.F) A) and D)
G) None of the above

Question 15

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use a(n) __________ strategy.

Accepted Answer

A)   penetration pricing
B)   above-market pricing
C)   prestige pricing
D)   specialty product pricing
E)   basing point pricingF) A) and C)
G) A) and B)

Question 16

In the financial data and projections section of the Paradise Kitchens marketing plan,the company chose to use a bar chart to present its past revenues (from 2008 to 2016) and a numerical table for projected sales revenues (from 2015 to 2021) .Paradise Kitchens used a bar chart because

Accepted Answer

A)   it 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 a small physical space.
D)   it could gloss over inconsistencies and anomalies.
E)   it more clearly shows the company's recent growth.F) D) and E)
G) A) and B)

Question 17

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) A) and B)
G) A) and C)

Question 18

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 B)
G) A) and E)

Question 19

The primary purpose of the Paradise Kitchen's 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 B)
G) A) and C)

Question 20

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) A) and C)
G) A) and E)

Exam 19: Building an Effective Marketing Plan

A unique aspect of Paradise Kitchens' packaging is that

Correct Answer
verified

To the company's knowledge,Paradise Kitchens is known for being the only premium-quality frozen __________ sold in U.S.grocery stores.

Correct Answer
verified

To help buyers see the many different uses for Howlin' Coyote Chili,the company has

Correct Answer
verified

According to its marketing plan,Paradise Kitchens is positioning itself in consumers' minds as

Correct Answer
verified
E

There is no single generic marketing plan that can apply to all organizations or all institutions.Rather,the specific format for a marketing plan for an organization depends on the following: the target audience and purpose,the kind and complexity of the organization,and

Correct Answer
verified

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Correct Answer
verified

The implementation plan

Correct Answer
verified

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

Correct Answer
verified

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 Answer
verified

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 Answer
verified
A

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 Answer
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Correct Answer
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A

The two key elements of the customer analysis section of the Paradise Kitchens marketing plan are

Correct Answer
verified

When appropriate and space permits,the price strategy section of a marketing plan would include a

Correct Answer
verified

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use a(n) __________ strategy.

Correct Answer
verified

In the financial data and projections section of the Paradise Kitchens marketing plan,the company chose to use a bar chart to present its past revenues (from 2008 to 2016) and a numerical table for projected sales revenues (from 2015 to 2021) .Paradise Kitchens used a bar chart because

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Exam 19: Building an Effective Marketing Plan

A unique aspect of Paradise Kitchens' packaging is that

Correct AnswerverifiedShow Answer

To the company's knowledge,Paradise Kitchens is known for being the only premium-quality frozen __________ sold in U.S.grocery stores.

Correct AnswerverifiedShow Answer

To help buyers see the many different uses for Howlin' Coyote Chili,the company has

Correct AnswerverifiedShow Answer

According to its marketing plan,Paradise Kitchens is positioning itself in consumers' minds as

Correct AnswerverifiedE

There is no single generic marketing plan that can apply to all organizations or all institutions.Rather,the specific format for a marketing plan for an organization depends on the following: the target audience and purpose,the kind and complexity of the organization,and

Correct AnswerverifiedShow Answer

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Correct AnswerverifiedShow Answer

The implementation plan

Correct AnswerverifiedShow Answer

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

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

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 AnswerverifiedA

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

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Correct AnswerverifiedA

The two key elements of the customer analysis section of the Paradise Kitchens marketing plan are

Correct AnswerverifiedShow Answer

When appropriate and space permits,the price strategy section of a marketing plan would include a

Correct AnswerverifiedShow Answer

It can be inferred from the Paradise Kitchens mission statement that the firm will most likely use a(n) __________ strategy.

Correct AnswerverifiedShow Answer

In the financial data and projections section of the Paradise Kitchens marketing plan,the company chose to use a bar chart to present its past revenues (from 2008 to 2016) and a numerical table for projected sales revenues (from 2015 to 2021) .Paradise Kitchens used a bar chart because

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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A

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 Answer
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A

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