Question 1

Paradise Kitchens describes its primary target market for Howlin' Coyote products as households with one to three people,where often both adults work,and with individual income typically above __________ per year.

Accepted Answer

A)   $25,000
B)   $50,000
C)   $75,000
D)   $100,000
E)   $250,000F) C) and D)
G) All of the above

Question 2

Which of the following statements regarding the use of photos in the body of a marketing plan is most accurate?

Accepted Answer

A)   Photos should always appear in black and white or they lose their effectiveness.
B)   Photos should always appear in color, regardless of the additional cost, since the overall effect is more professional that simply black-and-white images.
C)   Photos should include a brief caption that ties them to the text and highlights the reason for being included.
D)   If a photo is important enough to be included in the body of a marketing plan, it should require no further information.
E)   Photos should never take up more than one-eighth of the page if they are used in the body of a marketing plan rather than in an appendix.F) D) and E)
G) A) and B)

Question 3

According to the Paradise Kitchens marketing plan,two-thirds of American households consume Mexican foods.This information is used to infer that there is a more favorable attitude on the part of all Americans toward

Accepted Answer

A)   Southwestern flavors and other regional foods in general.
B)   spicy foods that include red chili peppers.
C)   ethnic foods and regional cuisine.
D)   bean products, cheese products, and tortillas.
E)   heartier foods that are simple to prepare.F) C) and D)
G) A) and B)

Question 4

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Accepted Answer

A)   Does the prospective product meet all government safety standards?
B)   Who is your competition and what are they doing?
C)   Who will be your key suppliers?
D)   Is there a clear market for the product or service?
E)   What are your taxes?F) A) and E)
G) B) and E)

Question 5

For the benefit of its audience,Paradise Kitchens divided its goals into

Accepted Answer

A)   product and process.
B)   product and service.
C)   internal and external.
D)   employee and customer.
E)   financial and nonfinancial.F) A) and D)
G) C) and E)

Question 6

The format for a marketing plan for an organization depends on which of these?

Accepted Answer

A)   the time frame
B)   the competition
C)   the available resources
D)   the target audience and purpose
E)   the financial investment neededF) D) and E)
G) A) and D)

Question 7

To help buyers see the many different uses for Howlin' Coyote Chili,Paradise Kitchens

Accepted Answer

A)   sponsored a recipe contest with the first prize being a trip for two to Mexico.
B)   offered recipes printed on the back of the packages, at in-store demonstrations, and on coupons.
C)   used bundle pricing with a chili bowl and a selection of products.
D)   televised a series of short but informative commercials on The Food Network cable TV channel.
E)   published small, full-color, illustrated pamphlets as buyer incentives to its wholesalers.F) A) and E)
G) All of the above

Question 8

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 D)
G) None of the above

Question 9

Arthur R.Kydd has helped launch more than 60 start-up firms and believes if you have a real product with a distinctive point of difference that satisfies the needs of customers,you may have a winner.The way to demonstrate this to him is to

Accepted Answer

A)   create a prototype and test it in the real world.
B)   submit a quality résumé that demonstrates the likelihood of future success.
C)   develop a well-written marketing or business plan.
D)   make a list of all the other ideas you have, including this one.
E)   ask for an informal interview.F) A) and E)
G) D) and E)

Question 10

The table of contents is usually found

Accepted Answer

A)   as an attachment with the letter of transmittal.
B)   on the cover of the plan.
C)   immediately after the executive summary.
D)   between the executive summary and the company description.
E)   immediately before the executive summary.F) A) and B)
G) A) and C)

Question 11

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 B)
G) A) and E)

Question 12

Which of the following statements regarding bullet points in a marketing plan is most accurate?

Accepted Answer

A)   Avoid using bullet points whenever possible because they distract the reader.
B)   If possible, change the shape of the bullet point (circle, star, square, etc.)  whenever you change topics.
C)   Bullet points should be used with all major headings to help draw attention to them.
D)   Bullet points enable key points to be highlighted effectively in a list form.
E)   Bullet points make it easier to highlight points that require long explanations.F) None of the above
G) C) and D)

Question 13

The industry analysis section of a marketing plan provides perspective for information regarding

Accepted Answer

A)   the competition, the economy, and the company's customers.
B)   the company, the economy, and the company's customers.
C)   current trends, the competition, and the economy.
D)   current trends, projected changes, competitive advantages.
E)   the competition, the company, and the company's customers.F) A) and E)
G) A) and D)

Question 14

It is helpful to use A-level (the first level) and B-level (the second level) headings under the numbered section headings of marketing and business plans.These headings should

Accepted Answer

A)   help readers make easy transitions from one topic to another.
B)   only be used in marketing plans and not in business plans.
C)   only be used in business plans and not in marketing plans.
D)   be used sparingly, otherwise they lose their cohesiveness and effectiveness.
E)   continue in traditional outline form all the way through E-level (the fifth level)  if needed, but no further.F) A) and B)
G) A) and C)

Question 15

Charts are often used in the implementation section of a marketing plan to

Accepted Answer

A)   prioritize marketing activities and set deadlines.
B)   assign tactical marketing decisions and specify target markets.
C)   prioritize marketing activities and assign resources.
D)   specify target markets and assign resources.
E)   set deadlines and assign responsibilities for tactical marketing decisions.F) B) and E)
G) A) and B)

Question 16

As part of its competitor analysis section of its marketing plan,Paradise Kitchens discussed the chili market,which represents over $500 million in annual sales.Chili products fall into two categories,which are

Accepted Answer

A)   canned chili and dry chili.
B)   frozen and canned chili.
C)   pre-made and ready-to-make chili kits.
D)   Mexican chili and "Americanized" chili.
E)   chili with meat (con carne)  and vegetarian chili with beans.F) C) and E)
G) A) and D)

Question 17

To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key

Accepted Answer

A)   lenders and venture capitalists.
B)   suppliers and distributors.
C)   advertising agencies and public relations firms.
D)   federal and state regulators to import tariff free ingredients.
E)   Hispanic spokespeople to get the word out.F) A) and E)
G) B) and E)

Question 18

A(n) __________ is a road map for the entire organization for a specified future period of time,such as one year or five years.

Accepted Answer

A)   marketing dashboard
B)   strategic plan
C)   operation plan
D)   business plan
E)   marketing metricF) None of the above
G) A) and C)

Question 19

Which of the following statements regarding business or market plan page length is most accurate?

Accepted Answer

A)   As a quick rule of thumb, there should be one page for every $10,000 required in the projected budget.
B)   The length of a business plan should never be less than 30 pages or greater than 35 pages.
C)   The length of the body of the plan should be between 15 and 20 pages including financial projections and appendices.
D)   For every page in the body of the work, there should be at least one additional page in the appendix to complement it.
E)   Although general guidelines suggest a length of 15 to 35 pages, the length of the plan should reflect the complexity of the product.F) A) and B)
G) None of the above

Question 20

Paradise Kitchen's strategic focus and plan section of the marketing plan contained three key elements

Accepted Answer

A)   mission, goals, and core competency/sustainable competitive advantage.
B)   mission, goals, and organizational structure.
C)   executive summary, company description, and financial overview.
D)   organizational structure, core competency/sustainable competitive advantage, and forecast of potential profits.
E)   organization's key players, organizational structure, and competency/sustainable competitive advantage.F) A) and D)
G) A) and E)

Exam 19: Building an Effective Marketing Plan

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

Correct AnswerverifiedShow Answer

To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key

Correct AnswerverifiedShow Answer

Which of the following statements regarding the use of photos in the body of a marketing plan is most accurate?

Correct AnswerverifiedShow Answer

Which of the following statements regarding business or market plan page length is most accurate?

Correct AnswerverifiedShow Answer

Paradise Kitchens describes its primary target market for Howlin' Coyote products as households with one to three people,where often both adults work,and with individual income typically above __________ per year.

Correct AnswerverifiedShow Answer

As part of its competitor analysis section of its marketing plan,Paradise Kitchens discussed the chili market,which represents over $500 million in annual sales.Chili products fall into two categories,which are

Correct AnswerverifiedShow Answer

The industry analysis section of a marketing plan provides perspective for information regarding

Correct AnswerverifiedShow Answer

Which of the following statements regarding visuals is most accurate?

Correct AnswerverifiedShow Answer

Which of the following statements regarding bullet points in a marketing plan is most accurate?

Correct AnswerverifiedShow Answer

A(n) __________ is a road map for the entire organization for a specified future period of time,such as one year or five years.

Correct AnswerverifiedShow Answer

Paradise Kitchen's strategic focus and plan section of the marketing plan contained three key elements

Correct AnswerverifiedShow Answer

Arthur R.Kydd has helped launch more than 60 start-up firms and believes if you have a real product with a distinctive point of difference that satisfies the needs of customers,you may have a winner.The way to demonstrate this to him is to

Correct AnswerverifiedShow Answer

Charts are often used in the implementation section of a marketing plan to

Correct AnswerverifiedShow Answer

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Correct AnswerverifiedShow Answer

The table of contents is usually found

Correct AnswerverifiedShow Answer

The format for a marketing plan for an organization depends on which of these?

Correct AnswerverifiedShow Answer

According to the Paradise Kitchens marketing plan,two-thirds of American households consume Mexican foods.This information is used to infer that there is a more favorable attitude on the part of all Americans toward

Correct AnswerverifiedShow Answer

It is helpful to use A-level (the first level) and B-level (the second level) headings under the numbered section headings of marketing and business plans.These headings should

Correct AnswerverifiedShow Answer

To help buyers see the many different uses for Howlin' Coyote Chili,Paradise Kitchens

Correct AnswerverifiedShow Answer

For the benefit of its audience,Paradise Kitchens divided its goals into

Correct AnswerverifiedShow Answer

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