Chapter 17 Quiz

A detailed timeline enables better planning.

True

A marketing plan should include information about a competitors' strength.

True

A marketing plan should never identify small segments as a targets because it is impossible for them to be profitable enough.

True

Context includes things like legal, technological, and societal changes and trends.

True

Iggy is working on his company's marketing plan for a new smartphone that also serves as a remote control for televisions, car stereo systems, and MP3 players. After planning the company's segmentation and targeting efforts, Iggy should begin to craft the position of the actual product using all 4Ps: product, price, promotion, and place.

True

In a marketing plan, the executive summarily is typically followed immediately by a situation analysis.

True

In considering the 5Cs, marketers evaluate the company via a SWOT analysis.

True

In the pricing section of his marketing plan, Andy implies that price serves as a mechanism to obtain value from his customers. Andy is correct in this implication.

True

In writing the targeting portion of the marketing plan, we should consider quantitative factors such as the size of the segment, profitability, and growth.

True

Jessica is drafting a marketing plan. The executive summary of her plan should be no longer than one page.

True

Much of the company C is knowing our own strengths and goals.

True

Tarcy Company has experimented with one-to-one marketing, but its newest marketing plan says that it is going to scale back these efforts. This is probably a good idea since one-to-one marketing is not very cost-effective.

True

The 5Cs are addressed in the situation analysis.

True

When we write about market segmentation in a marketing plan, we should remember that it lies on a continuum between mass marketing and one-to-one marketing.

True

Which of the following is a piece of psychographic information?

Attitude to product

"What are we known for?" is a question about which of the 5Cs?

Company

Staff at Paper Goods, Inc are working on a marketing plan. One asks another, "When our buyers buy, do they seem to be price sensitive?" They are working on the part of the marketing plan that is related to which of the 5Cs?

Customer

Segmentation should be based on

Data

A SWOT analysis is usually used to assess the 4Ps

False

A marketing plan should not include a timeline.

False

Because many contextual factors change constantly, they should be examined in detail.

False

Billy is writing a marketing plan for his restaurant. Is it a good idea for him to say that he will focus on a managerial approach rather than dealing with customer-based assessment.

False

Cluster analysis is usually used for positioning.

False

Distribution channel members are competitors.

False

Distribution is synonymous with promotion.

False

In targeting, the size of a segment is not a selection criterion.

False

In the segmentation portion of a marketing plan, we should start by identifying ideal customers.

False

Maria is writing a marketing plan for her company and has come to the section covering the 4Ps. She needs to remember the product is easier to change than any of the other marketing mix variables.

False

There is no reason to include marketing research in your marketing plan.

False

"Will we use more pull or push?" is a question about

Place

Deciding on your ideal distribution system relates to which of the 4Ps?

Place

Good Stuff, Inc sets high prices for its products and distributes to the small number of customers who are willing to pay the price for Good Stuff's products. Which of the following activities does this describe?

Positioning

Megan is writing a marketing plan and is trying to communicate that her company has the benefits that the target market will value. She is working on which section of the marketing plan?

Positioning

"Are we high-end or basic?" is a question about

Products

To perform this task, Jerrilyn needs to understand the differences among current customers, non-users, and ideal customers. What task is she performing?

Segmenting

A CEO says "I believe that a focus on this customer base fits with our strategic corporate goals." What is he talking about?

Targeting

In a _________ Connor must consider if the segment can be profitable enough for his business to succeed.

Targeting

What is the product positioning done through?

The 4Ps

Dani and Jacki are brainstorming over possible segments they may want to target with their new smoothie shop in Collegetown, USA. They have a very limited marketing budget, and want to make sure that their money is well spent. One of the questions Dani and Jacki should consider in choosing segments to target is:

Will the segment be profitable enough?

Sometimes marketers gloss over contextual factors, which is sometimes okay, because many of these factors

are relatively stable

Lin worries about delivering his frozen nutritious treats to his customers. He wants to form relationships with local delivery companies that can deliver his products and keep them from melting before they reach his customers' freezers. Which of the following is Lin thinking about?

collaborators

Darrin is wondering whether technology is a threat or an opportunity for his business. Which of the 5Cs is he considering?

context

If we are assessing the macro-environmental issues we must attend to, such as legal, technical, and social changes, then we are considering our

context

In order to truly know its customers, a company should strive to obtain fresh, primary data on which of the following groups of customers?

current, past, potential, and competitors' customers

Which of the following is NOT a benefit of greater precision in your marketing plan?

increased number of customers

A marketing plan workbook functions like a(n)

interviewer

Camille has started a photography business and is trying to decide between working toward mass exposure or a more exclusive appeal. She is thinking about which of the 4Ps?

place

Jenna's beauty salon is thinking about offering occasional discounts for regular customers. Jenna is considering which of the 4Ps?

price

Alayna is starting to write the product section of her marketing plan and wants to say that she offers several product lines that can vary in breadth and depth. It could be helpful for her to describe this as a

product mix

A marketing plan should begin with an assessment of

where things currently stand