Chapter 2 The Marketing Plan Review Study Questions – Flashcards
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Segmentation of the market based on where people live. a. Demographics b. Geographics c. Psychographics d. SWOT Analysis
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b. Geographics
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Identification of target markets and determination of marketing mix choices that focus on those markets. a. Market Segmentation b. Marketing Plan c. Executive Summary d. Marketing Strategy
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d. Marketing Strategy
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Use of a single marketing plan to reach all customers. a. Sales Forecast b. Mass Marketing c. PEST Analysis d. Marketing Plan
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b. Mass Marketing
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Studies of consumers based on social and psychological characteristics. a. PEST Analysis b. Psychographics c. Demographics d. Geographics
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b. Psychographics
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The money left over after taxes are taken out of a consumer's income. a. Demographics b. Discretionary Income c. Disposable Income d. Mass Marketing
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c. Disposable Income
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An expectation of performance that reflects a company's goals and marketing plan objectives. a. Performance Standard b. Marketing Plan c. Executive Summary d. PEST Analysis
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a. Performance Standard
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The money left over from a consumer's income after paying for basic living necessities such as food, shelter and clothing. a. Discretionary Income b. SWOT Analysis c. PEST Analysis d. Disposable Income
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a. Discretionary Income
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The process of analyzing and classifying customers in a given market to create smaller and more precise target markets. a. Market Segmentation b. Behavioral Segmentation c. Marketing Plan d. Marketing Strategy
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a. Market Segmentation
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A formal written document communicating the goals, objectives, and strategies of a company. a. Marketing Strategy b. Mass Marketing c. Marketing Plan d. Market Segmentation
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c. Marketing Plan
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SWOT Analysis → Scanning of outside influences on an organization. This is a methodical look at the world that typically includes four factors: political, economic, socio-cultural, and technological. True/False
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False (PEST analysis)
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Demographics → Statistics that describe a population in terms of personal characteristics such as age, gender, income, marital status, ethnicity, education, and occupation. True/False
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True
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Situation Analysis → The study of internal and external factors that affect marketing strategies. True/False
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True
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PEST Analysis → An assessment of a company's strengths and weaknesses and the opportunities and threats. True/False
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False (SWOT analysis)
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Executive Summary → A brief summary of the entire marketing plan. True/False
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True
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Behavioral Segmentation → Segmenting the market based on product-related behavior involves looking at the benefits desired by consumers, shopping patterns. and usage rates. True/False
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True
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Sales Forecast → Use of a single marketing plan to reach all customers. True/False
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False (Mass marketing)
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Environmental Scan → A formal written document communicating the goals, objectives, and strategies of a company. True/False
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False (Marketing plan)
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SWOT Analysis a. An assessment of a company's strengths and weaknesses and the opportunities and threats. b. An analysis of outside influences that may have an impact on an organization. c. Segmentation of the market based on where people live. d. The projection of probable future sales in units or dollars.
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a. An assessment of a company's strengths and weaknesses and the opportunities and threats.
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Discretionary Income a. The study of internal and external factors that affect marketing strategies. b. The money left over from a consumer's income after paying for basic living necessities such as food, shelter and clothing. c. The projection of probable future sales in units or dollars. d. The money left over after taxes are taken out of a consumer's income.
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b. The money left over from a consumer's income after paying for basic living necessities such as food, shelter and clothing.
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Marketing Strategy a. Segmentation of the market based on where people live. b. Use of a single marketing plan to reach all customers. c. The projection of probable future sales in units or dollars. d. Identification of target markets and determination of marketing mix choices that focus on those markets.
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d. Identification of target markets and determination of marketing mix choices that focus on those markets.
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PEST Analysis a. Studies of consumers based on social and psychological characteristics. b. Scanning of outside influences on an organization. This is a methodical look at the world that typically includes four factors: political, economic, socio-cultural, and technological. c. An analysis of outside influences that may have an impact on an organization. d. Identification of target markets and determination of marketing mix choices that focus on those markets.
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b. Scanning of outside influences on an organization. This is a methodical look at the world that typically includes four factors: political, economic, socio-cultural, and technological.
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Executive Summary a. The projection of probable future sales in units or dollars. b. Use of a single marketing plan to reach all customers. c. Segmentation of the market based on where people live. d. A brief summary of the entire marketing plan.
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d. A brief summary of the entire marketing plan.
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Psychographics a. Studies of consumers based on social and psychological characteristics. b. Use of a single marketing plan to reach all customers. c. Segmentation of the market based on where people live. d. A brief summary of the entire marketing plan.
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a. Studies of consumers based on social and psychological characteristics.
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Performance Standard a. The projection of probable future sales in units or dollars. b. The study of internal and external factors that affect marketing strategies. c. Segmentation of the market based on where people live. d. An expectation of performance that reflects a company's goals and marketing plan objectives.
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d. An expectation of performance that reflects a company's goals and marketing plan objectives.
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Disposable Income a. The study of internal and external factors that affect marketing strategies. b. The money left over after taxes are taken out of a consumer's income. c. The projection of probable future sales in units or dollars. d. Segmentation of the market based on where people live.
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b. The money left over after taxes are taken out of a consumer's income.
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Behavioral Segmentation a. Segmenting the market based on product-related behavior involves looking at the benefits desired by consumers, shopping patterns. and usage rates. b. Segmentation of the market based on where people live. c. The projection of probable future sales in units or dollars. d. Studies of consumers based on social and psychological characteristics.
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a. Segmenting the market based on product-related behavior involves looking at the benefits desired by consumers, shopping patterns. and usage rates.
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Mass Marketing a. The projection of probable future sales in units or dollars. b. Use of a single marketing plan to reach all customers. c. Segmentation of the market based on where people live. d. A brief summary of the entire marketing plan.
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b. Use of a single marketing plan to reach all customers.
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Sales Forecast a. Segmentation of the market based on where people live. b. A brief summary of the entire marketing plan. c. The projection of probable future sales in units or dollars. d. Use of a single marketing plan to reach all customers.
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c. The projection of probable future sales in units or dollars.
