Exam 7: The Marketing Plan

Sullivan just bought a new pickup truck with a snow plow.He contacted the National Weather Service to get information about snowfalls to help prepare his sales forecast.Sullivan is using:

The most difficult forecasting situation is when an entrepreneur is inexperienced and has a new idea.​

Joel recently opened a neighborhood grocery.He chats briefly with each customer,carefully bags or boxes their purchases,and offers to load them into the customers' cars.Joel has learned that:

Ideas Unlimited is a consulting firm that provided retailers with information about regional sales trends.To estimate demand in the market for its services,the firm's marketing department identifies all buyers in each category of retailers and determines how much business is possible.The market demand estimate is based on the:

Sheena is using her last three years' sales to forecast next year's sales.Sheena is using the _________ method.

A buildup process requires a small business to identify all potential buyers in a target market's submarkets and then combine these estimates to determine the calculated demand.

Match the term with its definition.Not all terms will be used. a.chain-ratio method b.customer-oriented philosophy c.intellectual property d.production-oriented philosophy e.segmentation variables f.single-segment strategy g.small business marketing h.unsegmented strategy -A strategy that defines the total market as the target market

A firm's marketing mix consists of ____ activities.

Match: a.actual product/service b.augmented product/service c.benefit variables d.breakdown process e.buildup process f.core product/service g.customer-oriented philosophy h.customer profile -The basic product and/or service plus any extra or unsolicited benefits to the consumer that may prompt a purchase

Shiloh has begun the sales forecasting procedure with a variable that has a very large scope and then systematically is working down to the sales forecast.Shiloh is using the:

Caution is advised when relying on blogs for secondary data because:

Sales forecasts are typically expressed in dollars or units.

Match the term with its definition.Not all terms will be used. a.chain-ratio method b.customer-oriented philosophy c.intellectual property d.production-oriented philosophy e.segmentation variables f.single-segment strategy g.small business marketing h.unsegmented strategy -The parameters used to distinguish one form of market behavior from another

Match the term with its definition.Not all terms will be used. a.marketing research b.market segmentation c.multi-segment strategy d.primary data e.production-oriented philosophy f.sales forecast g.sales-oriented philosophy h.secondary data -Market information that has been previously compiled

Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh produce for grocery stores.The firm's marketing philosophy is:

What are the problems with secondary data use? How can a new entrepreneur neutralize these problems?

Irene,owner of a small retail shop,is evaluating her customer profile.Which item is the most critical for her customer profile?

Marketing research is defined as the gathering,processing,reporting,and interpreting of marketing information.

Odessa is writing the marketing plan for her bed and breakfast.She has written that her market includes everyone from infants to the elderly.This is incorrect because:

Match the term with its definition.Not all terms will be used. a.demographic variables b.direct forecasting c.focus strategy d.indirect forecasting e.intellectual property f.market g.market analysis h.marketing mix -A group of customers or potential customers who have purchasing power and unsatisfied needs