Question 1

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) C) and D)
G) B) and C)

Question 2

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 2009 to 2017) in addition to a numerical table for projected sales revenues (from 2017 to 2022) .Paradise Kitchens used a bar chart because

Accepted Answer

A)  it made the lack of sales for the previous years look 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) A) and C)
G) All of the above

Question 3

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 semi-prepared 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) C) and E)
G) B) and C)

Question 4

The SWOT analysis section of a marketing plan identifies a company's

Accepted Answer

A)  new technological innovations.
B)  strengths,weaknesses,opportunities,and threats.
C)  marketing program.
D)  barriers to entry.
E)  sustainable competitive advantages.F) A) and D)
G) A) and E)

Question 5

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 D)
G) A) and B)

Question 6

The greatest single factor in a new product's failure is

Accepted Answer

A)  a lack of advertising and promotion.
B)  attempting to reach a target market that is too small.
C)  too few competitors.
D)  insignificant points of difference.
E)  lack of experienced management.F) A) and E)
G) D) and E)

Question 7

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) A) and E)
G) B) and E)

Question 8

In which section of a marketing plan would you most likely expect to see a chart with deadlines and assigned responsibilities?

Accepted Answer

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

Question 9

The situation analysis section of a marketing plan is a snapshot to answer the question,

Accepted Answer

A)  Where are we now?
B)  What is the competition doing?
C)  How will our organization change?
D)  What is happening in the industry?
E)  Where are we going?F) C) and D)
G) A) and B)

Question 10

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) B) and D)
G) D) and E)

Question 11

For readability and clarity,Paradise Kitchens presents its SWOT analysis section of a marketing plan as a figure (Figure 1.SWOT Analysis for Paradise Kitchens) .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) B) and C)

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) None of the above
G) A) and B)

Question 13

Paradise Kitchens uses the following type face/font style choices: Customer Analysis (B-level: bold) and Customer Characteristics (C-level: bold/italics) to indicate that

Accepted Answer

A)  Customer Characteristics and Customer Analysis are synonymous and can be used interchangeably.
B)  Customer Analysis is a subcategory of Customer Characteristics.
C)  Customer Analysis is the name of a secondary source and Customer Characteristics refers to internally collected primary data.
D)  Customer Analysis is the formal marketing term and Customer Characteristics is the layman's term.
E)  Customer Characteristics is a subcategory of Customer Analysis.F) A) and B)
G) All of the above

Question 14

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) B) and D)
G) B) and C)

Question 15

Which of the following does Paradise Kitchens consider a strength?

Accepted Answer

A)  many lower-quality,lower-price competitors
B)  lack the economies of scale of huge competitors
C)  importance of convenience to U.S.households.
D)  more households "eating out" and bringing prepared take-out into the home
E)  unique,high-quality,high-price productsF) A) and B)
G) D) and E)

Question 16

The industry within which a product will compete should affect the format of an organization's business or marketing plan.However,since the complexities of products can differ greatly,

Accepted Answer

A)  the size of the potential workforce included in their plans differs.
B)  the investment potential of investors included in their plans differs.
C)  the experience of the key personnel demonstrated in their plans differs.
D)  the time periods likely to be covered by their plans differ.
E)  the knowledge of technical language used in their plans differs.F) C) and D)
G) B) and D)

Question 17

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

Question 18

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 D)
G) C) and D)

Question 19

Which of the following statements regarding marketing and business plans is most accurate?

Accepted Answer

A)  In contrast to a marketing plan,a business plan is a road map for the entire organization for a specified future period of time,such as one year or five years.
B)  In contrast to a business plan,a marketing plan is a road map for the entire organization for a specified future period of time,such as one year or five years.
C)  A marketing plan contains a greater degree of detail regarding research and development,operations,and manufacturing activities of the organization.
D)  A business plan is used for industrial products and a marketing plan is used for consumer products.
E)  A business plan is used for manufactured products and a marketing plan is used for services.F) None of the above
G) A) and D)

Question 20

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) None of the above
G) All of the above

Exam 23: Writing Successful Marketing and Business Plans: Tips and Guidelines

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements regarding marketing and business plans is most accurate?

Correct AnswerverifiedShow Answer

The industry within which a product will compete should affect the format of an organization's business or marketing plan.However,since the complexities of products can differ greatly,

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 2009 to 2017) in addition to a numerical table for projected sales revenues (from 2017 to 2022) .Paradise Kitchens used a bar chart because

Correct AnswerverifiedShow Answer

The SWOT analysis section of a marketing plan identifies a company's

Correct AnswerverifiedShow Answer

Paradise Kitchens uses the following type face/font style choices: Customer Analysis (B-level: bold) and Customer Characteristics (C-level: bold/italics) to indicate that

Correct AnswerverifiedShow Answer

For readability and clarity,Paradise Kitchens presents its SWOT analysis section of a marketing plan as a figure (Figure 1.SWOT Analysis for Paradise Kitchens) .It's divided into two sections:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In terms of paragraph style,most readers prefer

Correct AnswerverifiedShow Answer

In which section of a marketing plan would you most likely expect to see a chart with deadlines and assigned responsibilities?

Correct AnswerverifiedShow Answer

Which of the following statements regarding visuals is most accurate?

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following does Paradise Kitchens consider a strength?

Correct AnswerverifiedShow Answer

The greatest single factor in a new product's failure is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The situation analysis section of a marketing plan is a snapshot to answer the question,

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified