Question 1

In addition to quality content,a plan's layout and design are also important.Which of the following statements is MOST ACCURATE?

Accepted Answer

A)  Fonts that are serif type should be used within the body of the plan and sans serif type should be used with charts and graphs.
B)  Fonts that are sans serif are easier to read and should be used in the body of the plan.
C)  Ink-jet printers are preferable to laser printers.
D)  The font size should change with the importance of the material.Important material should be at least 14 points and go as small as 10.5 points for less important details.
E)  There should be a different font style for each new section within the plan provided no more than five distinct fonts are used.F) B) and C)
G) A) and D)

Question 2

The effectiveness of a table is determined by its ability to

Accepted Answer

A)  include every possible piece of information available.
B)  catch the reader's attention with its design and sophistication.
C)  create a powerful visual metaphor.
D)  summarize a large amount of information in a short amount of space.
E)  clarify difficult financial information or calculations.F) None of the above
G) B) and E)

Question 3

Which of the following goals uses parallel construction?

Accepted Answer

A)  Make the best non-battery flashlight possible,make the brand name known in every household in the United States,and make the flashlight the official flashlight of every state-owned hospital in the United States.
B)  To make the finest bicycles in the professional racing field,to attain sponsorship from at least three top Olympic riders,and obtain a return on equity of at least 15 percent.
C)  Enter three major markets in the next three years,maintain a market share above 20 percent,while continuing to provide the best customer service according to industry polls.
D)  To increase market share by at least 10 percent each year for the next five years,reduce employee turnover by 20 percent within the next five years,and to obtain a return on equity of at least 15 percent for each of the next five years.
E)  Generate sales of $100 million,generate ROI of 20%,and maintaining selling costs at 10% of sales.F) None of the above
G) A) and B)

Question 4

Arthur R.Kydd,CEO of St.Croix Venture Partners,receives 200 to 300 requests for venture capital or seed money each year and only selects two or three to invest in.He 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) B) and D)
G) B) and E)

Question 5

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Accepted Answer

A)  Use A-level and B-level headings under the numbered section headings.
B)  Do not use a business plan unless you plan to borrow at least $100,000.
C)  Include as attachment the résumés for all key players in your management team.
D)  To save paper,send the plan in digital (Adobe Acrobat PDF) format to all potential investors.
E)  Use different color fonts or paper to represent different sections of your plan.F) A) and B)
G) C) and D)

Question 6

If the following statement was included in the Evaluation section of the Paradise Kitchens marketing plan,"The speed of the roll-out program will increase or decrease depending on Paradise Kitchens' performance in the successive metropolitan markets it enters," what would be the purpose of this statement?

Accepted Answer

A)  act as a contingency plan for alternative actions
B)  sidestep responsibility if things do not go according to plan
C)  create an open dialog for additional financial requests
D)  gloss over possible forecasting ambiguities
E)  avoid setting specific monetary goalsF) A) and B)
G) All of the above

Question 7

The format for a marketing plan for an organization depends on the following: (1) the target audience and purpose; (2) __________;and (3) the industry.

Accepted Answer

A)  the time frame
B)  the competition
C)  the available resources
D)  the financial investment needed
E)  the kind and complexity of the organizationF) C) and E)
G) B) and D)

Question 8

Ideally,each numbered section should start __________ to improve readability.

Accepted Answer

A)  with all capital letters
B)  in a font size at least 3 points larger than the body of the text
C)  on a new page
D)  either capitalized and bolded or italicized and underlined
E)  with a brief introduction of what will be discussedF) B) and C)
G) A) and E)

Question 9

The Paradise Kitchens chart for the Organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses.The four key positions that report to the President & CEO include the following: Director of Operations,__________,Director of Finance and Administration,and Director of Sales.

Accepted Answer

A)  Director of Advertising and Promotions
B)  Director of Research and Development
C)  Director of Human Resources
D)  Vice President of Marketing
E)  Senior Distribution ManagerF) A) and B)
G) C) and D)

Question 10

Paradise Kitchens uses external secondary data to reinforce its position that there is a growing trend in the consumption of Mexican foods among U.S.households.According to its marketing plan,Mexican foods,such as burritos,enchiladas,and tacos,are consumed in approximately __________ of American households.

Accepted Answer

A)  35%
B)  47%
C)  66%
D)  79%
E)  86%F) None of the above
G) C) and E)

Question 11

All of the following are points of difference for Paradise Kitchens EXCEPT:

Accepted Answer

A)  high quality frozen chili.
B)  home-style taste.
C)  mild spices for the relatively unsophisticated American palate.
D)  premium packaging.
E)  a range of chili product flavors.F) A) and B)
G) C) and E)

Question 12

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)  What are your taxes?
E)  Is there something unique or distinctive about the product or service that separates it from substitutes and competitors?F) A) and D)
G) A) and B)

Question 13

The two key elements of the Customer Analysis section of the Paradise Kitchens marketing plan include

Accepted Answer

A)  Customer Characteristics and 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) A) and B)
G) A) and C)

Question 14

A __________ 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) C) and D)
G) C) and E)

Question 15

The Paradise Kitchens chart in the Organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses.The four key positions that report to the President & CEO include the following: Director of Operations,Vice President of Marketing,__________,and Director of Sales.

Accepted Answer

A)  Director of Advertising and Promotions
B)  Director of Research and Development
C)  Director of Finance and Administration
D)  Director of Human Resources
E)  Senior Distribution ManagerF) A) and C)
G) A) and B)

Question 16

Which of the following did Paradise Kitchens considered a Weakness?

Accepted Answer

A)  unique,high-quality,high-price products
B)  many lower-quality,lower-price competitors
C)  technical breakthroughs enable smaller food producers to achieve the same economies of scale available to large competitors
D)  consumer income is high and convenience is important to U.S.households
E)  more households "eating out" and bringing prepared take-out into the homeF) A) and E)
G) A) and D)

Question 17

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) A) and D)
G) A) and C)

Question 18

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

Accepted Answer

A)  sponsored a recipe contest with the first prize being a trip for two to Mexico.
B)  offered recipes printed on the inside of the packages,at in-store demonstrations,and on coupons.
C)  used a "buy-one-get-one-free" (BOGO) sales promotion tactic.
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) D) and E)
G) C) and E)

Question 19

__________ helps communicate the company's unique points of difference of its products to prospective customers in a simple,clear way.

Accepted Answer

A)  positioning strategy
B)  market-product grid strategy
C)  competition analysis
D)  implementation strategy
E)  situational analysisF) D) and E)
G) C) and D)

Question 20

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)  consumer income is high and convenience is important 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 E)
G) B) and E)

Exam 23: Building an Effective Marketing Plan

__________ helps communicate the company's unique points of difference of its products to prospective customers in a simple,clear way.

Correct Answer
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Correct Answer
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Correct Answer
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All of the following are points of difference for Paradise Kitchens EXCEPT:

Correct Answer
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Which of the following does Paradise Kitchens consider a Strength?

Correct Answer
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Correct Answer
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Correct Answer
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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 Answer
verified

The effectiveness of a table is determined by its ability to

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

Correct Answer
verified

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Correct Answer
verified

In addition to quality content,a plan's layout and design are also important.Which of the following statements is MOST ACCURATE?

Correct Answer
verified

The format for a marketing plan for an organization depends on the following: (1) the target audience and purpose; (2) __________;and (3) the industry.

Correct Answer
verified

Which of the following goals uses parallel construction?

Correct Answer
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Correct Answer
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Which of the following did Paradise Kitchens considered a Weakness?

Correct Answer
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Ideally,each numbered section should start __________ to improve readability.

Correct Answer
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The two key elements of the Customer Analysis section of the Paradise Kitchens marketing plan include

Correct Answer
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For readability and clarity,Paradise Kitchenspresents 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 Answer
verified

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

Correct Answer
verified

Exam 23: Building an Effective Marketing Plan

__________ helps communicate the company's unique points of difference of its products to prospective customers in a simple,clear way.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are points of difference for Paradise Kitchens EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following does Paradise Kitchens consider a Strength?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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 effectiveness of a table is determined by its ability to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Correct AnswerverifiedShow Answer

In addition to quality content,a plan's layout and design are also important.Which of the following statements is MOST ACCURATE?

Correct AnswerverifiedShow Answer

The format for a marketing plan for an organization depends on the following: (1) the target audience and purpose; (2) __________;and (3) the industry.

Correct AnswerverifiedShow Answer

Which of the following goals uses parallel construction?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following did Paradise Kitchens considered a Weakness?

Correct AnswerverifiedShow Answer

Ideally,each numbered section should start __________ to improve readability.

Correct AnswerverifiedShow Answer

The two key elements of the Customer Analysis section of the Paradise Kitchens marketing plan include

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

A __________ 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

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

For readability and clarity,Paradise Kitchenspresents 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 Answer
verified

Correct Answer
verified