Marketing Plan Components

Questions and Answers

When developing a marketing plan, which component is NOT appropriate for White Rock's president to include?

An environmental impact statement. (correct)

Decisions regarding the marketing mix of product, price, place, and promotion.

Decisions regarding segmenting, targeting, and positioning within the market.

A situation analysis of customers, company, context, collaborators, and competitors.

Which question would White Rock NOT address in the situation analysis while dealing with the brand drop?

What kinds of customer knowledge does White Rock need to form market segments? (correct)

Who is White Rock and what does White Rock want to become?

What are the relevant economic conditions that White Rock faces?

Who are White Rock's major competitors and how might they respond to White Rock's actions?

In making decisions on market segmentation and positioning, which question would White Rock logically NOT address?

Does the market segment fit with White Rock's corporate goals?

Does White Rock have a good relationship with downstream channel members? (correct)

Where is White Rock in the positioning matrix?

Does White Rock have demographic, geographic, and/or psychological data to form meaningful market segments?

Which question would NOT be addressed in making marketing mix decisions for White Rock?

<p>Does White Rock have good supply chain relationships?</p> Signup and view all the answers

Study Notes

White Rock's Marketing Plan and Situational Analysis

When faced with business struggles, White Rock's president should develop a marketing plan that includes a situation analysis, environmental impact statement, market segment targeting and positioning, and the marketing mix (product, price, place, promotion).
An environmental impact statement is not a necessary component of the marketing plan.

Situation Analysis Questions

In analyzing its situation after losing half of its distribution, White Rock should assess competitors, customer knowledge, company identity, and the relevant economic conditions.
Determining the customer knowledge necessary to form market segments is not a focus of the situation analysis.

Brand Growth and Market Segmentation

White Rock's consideration of growing its business includes strengthening existing brands and acquiring new ones.
Important questions involve data for market segmentation, alignment with corporate goals, and current positioning matrix analysis.
The quality of relationships with downstream channel members is not a specific question addressed in growth decisions.

Marketing Mix Decisions

The marketing plan should evaluate product life cycle positioning, brand quality perceptions, and selectivity of the distribution network.
The existence of good supply chain relationships does not directly pertain to marketing mix decisions.

Description

Explore the essential components of a marketing plan as discussed in Chapter 17. This quiz challenges you to identify what elements are necessary and which ones might not be relevant in developing a marketing strategy. Test your understanding of marketing principles and their application.