Exam 7: The Marketing Plan

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

Marta's job involves asking shoppers in the mall about their experience with specific products. She works from a list given to her by the products' producers. Marta is using the _____ method to gather _____ data.

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

To calculate customer acquisition costs, divide the _____ costs of the business by the actual or projected number of customers.

The first step in the marketing research process is to

Andrew is considering two models of cars. The size, price, and options are identical. However, one model gets better gas mileage. This fact would be considered a(n) _____ product.

Miguel is deciding how to get his product to his customers. His options include a fixed location, a mobile location, working out of his home, and the Internet. Miguel is preparing the _____ section of his marketing plan.

The information on marketing strategy forms the most detailed section of a marketing plan.

A sales forecast is an essential component of the marketing plan because it

The market analysis section of the marketing plan should include

The _____ section of the marketing plan describes the entrepreneur's approach to creating customer awareness of the product or service and explains why customers will be motivated to buy

Match the term with its definition. -The basic physical product and/or service that delivers customer benefits

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

A(n) _____ is the basic instrument used to guide the researcher who administers a survey and the respondent who takes it.

Morton sells salt; Domino sells sugar. The best strategy for either of these products would be a(n) _____ strategy.

When a strategist divides the total market for a product or service into smaller groups with similar needs, such that each group is likely to respond favorably to a specific marketing strategy, he or she is engaging in a practice called market segmentation.

Personal interview surveys are attractive as a marketing research method because these are inexpensive to conduct.

Match the term with its definition. -The amount spent to attract each new customer who makes a purchase from the company

Match the term with its definition. -Market information that has already been compiled

The product/service section of the marketing plan should include all of the following EXCEPT