Podcast Beta
Questions and Answers
The marketing plan helps determine the target market, the best way to reach them, and the price point of the product or service. True or False?
True
An executive summary should provide all the information your company’s executives need to make a decision without reading the rest of the marketing plan. True or False?
True
SWOT analysis stands for strengths, weaknesses, opportunities, and transactions. True or False?
False
Strengths and weaknesses in SWOT analysis are internal conditions of the company. True or False?
Signup and view all the answers
Opportunities and threats in SWOT analysis are external factors to the company. True or False?
Signup and view all the answers
A good SWOT analysis should capture a narrow range of factors to focus on specific trends. True or False?
Signup and view all the answers
SWOT analysis should only consider a single time frame to avoid missing important trends. (True/False)
Signup and view all the answers
The marketing plan executive summary should include a detailed market overview, product description, and rationale for investment. (True/False)
Signup and view all the answers
Sales potential refers to the maximum total revenue a company hopes to generate from a product. (True/False)
Signup and view all the answers
Forecasting methods for sales can include expert opinion, channel and customer surveys, and test markets. (True/False)
Signup and view all the answers
Correlational analysis estimates sales based on the trends of other variables. (True/False)
Signup and view all the answers
A market test is an experiment in which the company launches a new offering in the entire market. (True/False)
Signup and view all the answers
SWOT analyses should consider the perspectives of all areas of the firm, including shipping, sales, production, suppliers, and channel members. (True/False)
Signup and view all the answers
The strategy section in the marketing plan should not conclude that the proposed strategy is the best available. (True/False)
Signup and view all the answers
Time series techniques examine sales patterns in the past in order to predict sales in the future. (True/False)
Signup and view all the answers
Judgment techniques for forecasting sales rely solely on historical data and statistical models. (True/False)
Signup and view all the answers
