Chapter 14 - A Marketing Plan

According to the chapter, marketing strategies will be included as part of a ________ ________ and are only one piece of the larger strategic document.

Marketing plan

True or False: Benchmarks are businesses with similar products or services that you can use to measure the performance or potential success of your brand.

true

True or False: Launching a product that is projected to break-even within six to twelve months is a much lower risk than launching a product that could take up to five years to become cash flow positive.

true

True or False: Potential investors and upper management will pay close attention to the work you do with key financials because it will help them decide whether or not to take a risk on your idea.

true

According to the chapter, the ________ ________ identifies what a company needs to make in sales in order to recoup the money they spent launching the product.

Break-even analysis

The key when looking at ________ ________ as part of a SWOT analysis is to identify what you can do to prevent a future threat and capitalize on an opportunity.

External factors

Which of the following is an internal factor a company must consider during a SWOT analysis?

Financial resources

According to the chapter, a(n) ________ ________ goes over the size, growth, trends, and profit potential in a specific market.

Industry analysis

True or False: Creating a market summary is the last step in any marketing plan because it helps analyze quantifiable data that can be used to justify future investment into the creation of a product and a business.

false

True or False: Financial goals must rely on subjective interpretations and be quantifiable.

false