Exam 7: The Marketing Plan

Entrepreneurs should base their market assessments,production schedules,inventory policies,and personnel decisions on:

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 -The gathering,processing,interpreting,and reporting of market information

The description of potential customers in a target market is commonly called a:

Why would a small business conduct less marketing research than a larger,established firm?

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 belief that production and sales center on the consumer and his/her needs

Melinda,an auto insurance agent,would like to forecast the number of 16-year-olds in her county who will be eligible to apply for driver's licenses next year.Identify three potential sources of information and discuss the advantages and disadvantages of each.

In her marketing plan,Candace is describing the laws of a foreign country and comments about the exchange rate.It is likely Candace is considering ______________ as a method of distribution.

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 marketing strategy in which cost-and differentiation-based advantages are achieved within narrow market segments

The consumer-oriented approach to marketing:

Rhoda describes her typical customer as female between the ages of 22 and 35 with at least two years of college and a household income above $50,000 annually.Rhoda is using _________ to describe her customers.

Allison is gathering information about other producers in her industry for inclusion in the ______________ section of her marketing plan.

The decision to produce flavored spring water ice cubes in response to requests from its customers reflects Norway Ice Company's ____ marketing philosophy.

Morton sells salt;Domino sells sugar.The best strategy for either of these products would be:

Brenda is creating the marketing plan for her bakery.Many of the recipes she will use were handed down through her family and she would like to keep them secret.These recipes will be considered:

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 -The combination of product/service,pricing,promotion,and distribution activities

John,a car repair shop owner,is developing the warranty and repair policies for his business.What area of the marketing strategy is he addressing?

The price of an item should be:

Creators Plus,a modest-size manufacturer of quality crafts,expends considerable resources to ensure that its products are created in the most efficient manner.According to the owner,distribution and promotion are secondary considerations to managing an expedient production process.Creators Plus subscribes to the ____ marketing philosophy.

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 -Business activities that direct the creation,development,and delivery of a bundle of satisfaction from the creator to the targeted user

In preparing a sales forecast,it is desirable to have forecasts covering the "most likely","best case" and "_____ case" scenarios.