True/False
Indicate whether the
statement is true or false.
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1.
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The strategy section of the marketing plan describes the marketing mix for a
company.
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2.
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Using the Internet to obtain public information about companies is a cost
effective and efficient research method.
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3.
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A company’s product portfolio should always remain the same.
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4.
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Raw data are predictions without substantiated research.
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5.
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Customers can be an important source of information even when they do not buy
from your company.
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6.
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A tactic is a common strategy used by an entire industry.
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7.
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Marketing intelligence means that a company has the lead in an industry.
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8.
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Concert ticket prices are at an all-time high due to the record demand by
fans.
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Multiple Choice
Identify the
choice that best completes the statement or answers the question.
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9.
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Raw data are not
a. | the facts and recorded measures | b. | predictions | c. | useful when
organized and grouped together | d. | used to make
decisions |
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10.
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A strategy can be developed after the __________ is determined.
a. | tactic | c. | market trend | b. | goal | d. | problem |
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11.
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Test marketing
a. | is a mass market approach | b. | is good for a popular proven
product | c. | determines how customers will react to a new product | d. | all of the
above |
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12.
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Which of the following is not part of promotions
a. | budgeting | c. | advertising | b. | publicity | d. | personal
selling |
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13.
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The marketing concept does not focus attention on
a. | customers | b. | long-term profitability | c. | economic
conditions | d. | coordination of all six of the core marketing
standards |
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14.
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Customers
a. | can be a rich source of information even when they do not buy from your
company | b. | shop around for the best products and prices | c. | may volunteer
information about the competition through a casual conversation | d. | all of the
above |
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15.
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__________ involves how the product or service will be made available to
customers.
a. | Distribution | c. | Development | b. | Promotion | d. | Pricing |
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16.
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The product portfolio
a. | is the entire line of products offered by a company | b. | involves one product
line offered by a company | c. | involves products sold only in one geographic
part of the country | d. | is the marketing plan for a new
product |
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17.
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Marketing intelligence
a. | means being the leader in the marketplace | b. | is information
gathered about competitors | c. | is acquired by earning a college
degree | d. | involves consumer knowledge about goods and services |
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18.
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Planning
a. | is essential for an organization’s success | b. | happens once a year
for a company | c. | is an ongoing event for an organization | d. | both a and
c |
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19.
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Competitors are attracted to
a. | products that sell quickly | b. | products that perform well in the
marketplace | c. | products that are generating large sales | d. | all of the
above |
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20.
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The Internet
a. | is inefficient for collecting consumer data | b. | is a costly means of
collecting consumer data | c. | is an efficient means of collecting consumer
data | d. | is an unreliable source for collecting consumer data |
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Completion
Complete each
statement.
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21.
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____________________ are any means at which the business makes contact with
customers.
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22.
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____________________ are the processes by which tactics are implemented.
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23.
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_________________________ are major events where people in a related industry
meet to show their products, exchange ideas, and learn about the latest trends.
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24.
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____________________ involves explaining the information so that it has meaning
and drawing conclusions that relate to the defined marketing research problem.
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25.
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A broad group of customers is called a _________________________.
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26.
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_________________________ is trying out the sales potential for a new product in
a small market area prior to its final release nationwide.
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27.
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The ______________________________ identifies the nature of the business and the
reason it exists.
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28.
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A(n) ____________________ is the way a product or service is differentiated in
the minds of customers from competitors’ products.
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29.
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____________________ research is conducted to solve problems.
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30.
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The _________________________ is a precisely written document that describes the
tactics and strategies that will be used to market a product or service.
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31.
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___________________________________ is information gathered about
competitors.
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32.
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All of the products a company has available for customers at any one time make
up the ______________________________ of the company.
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Short Answer
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33.
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What does it mean to “get a product into the mind of
consumers?”
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34.
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What is a marketing plan?
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Essay
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35.
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What are the major components of a marketing plan? Describe each component of
the marketing plan.
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