Exam 7: The Marketing Plan

Every day, associates of Sewell Motors, a Dallas-based auto retailer, strive to exceed the company's expectations of treating the customer as its number-one priority. Every action, policy, and ultimate sale is conducted professionally, with consumers' needs in mind. Sewell Motors subscribes to the _____ marketing philosophy.

Because of the considerable cost, time, and effort, pretesting is generally considered necessary only in the case of extensive, complex questionnaires.

Because of the relatively inconsequential amount of sales conducted by a typical small business, the majority of entrepreneurs need not be concerned with formulating accurate sales forecasts.

Match the term with its definition. -A strategy that defines the total market as the target market

To prepare the market analysis section of a marketing plan, an entrepreneur needs a proper understanding of the term

Match the term with its definition. -New market information that is gathered by the firm conducting the research

Meredith is opening a clothing store that sells both men's and women's clothing. Which of the following approaches is probably the wisest strategy for the marketing efforts of this company?

Match the term with its definition. -Specific characteristics that describe customers, their purchasing power, their consumption patterns, and other factors

Which of the following is NOT a drawback of using secondary data?

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

Match the term with its definition. -A strategy that recognizes different preferences of individual market segments and develops a unique marketing mix

Two broad sets of segmentation variables that represent the major dimensions of a market are _____ and _____ variables.

Match the term with its definition. -The process of locating and describing potential customers

If a business owner envisions several target markets, each segment must have a corresponding customer profile.

Theodore has stores in multiple states. This is an example of _____ segments.

Observation is probably the oldest form of research in existence.

A firm's marketing mix consists of _____ activities.

A _____ is an estimation of how much of a product or service can be sold within a given market during a defined time period.

Which of the following sources of data would be the least helpful for secondary data use?

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