Marketing The Core 7th Edition By Kerin - Test Bank
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Course
Marketing - Test Bank
Institution
Marketing - Test Bank
Chapter 02
Test Bank
1. Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies, one of which is A. supporting farmers who agree to use sustainable farming practices, implementing fair working standards, and investing in local communit...
, Appendix A
Test Bank
1. In order to launch a start-up firm, Arthur K. Kydd believes that the firm needs to have a real product with
A. a distinctive point of difference that satisfies customer needs.
B. a prototype to test in the real world.
C. a list of all the other ideas you have, including this one.
D. some of your own money to demonstrate your belief that this product is a winner.
E. friends in the industry that you wish to enter.
Feedback: "If you have a real product with a distinctive point of difference that satisfies the needs of customers, you may have a winner," says Arthur
R. Kydd, who has helped launch more than 60 start-up firms.
2. Arthur R. Kydd has helped launch more than 60 start-up firms and believes if you have a real product with a distinctive point of difference that
satisfies the needs of customers, you may have a winner. The way to demonstrate this to him is to
A. create a prototype and test it in the real world.
B. submit a quality résumé that demonstrates the likelihood of future success.
C. develop a well-written marketing or business plan.
D. make a list of all the other ideas you have, including this one.
E. ask for an informal interview.
Feedback: If you have a real product with a distinctive point of difference that satisfies the needs of customers, you may have a winner. And you get
a real feel for this in a well-written marketing or business plan.
3. A(n) __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
A. marketing plan
B. mission statement
C. operation plan
D. business plan
E. marketing dashboard
4. There is no single generic marketing plan that can apply to all organizations or all institutions. Rather, the specific format for a marketing plan for
an organization depends on the following: the target audience and purpose, the kind and complexity of the organization, and
A. the financial investment needed.
B. the time frame.
C. available resources.
D. the industry.
E. the competition.
Feedback: No single generic marketing plan applies to all organizations and all situations. Rather, the specific format for a marketing plan for an
organization depends on the following: the target audience and purpose, the kind and complexity of the organization, and the industry.
,C. Although sales figures will vary greatly, the marketing plan for a small family-owned food store will be almost identical to the marketing plan of a
large supermarket chain, if written correctly.
D. Although the target audience and purpose affect the design of a marketing plan, the type of industry plays a relatively small, if any, role in its
design.
E. No single generic marketing plan applies to all organizations and all situations.
Feedback: No single generic marketing plan applies to all organizations and all situations. Rather, the specific format for a marketing plan for an
organization depends on the following: the target audience and purpose, the kind and complexity of the organization, and the industry.
6. The format for a marketing plan for an organization depends on which of these?
A. the time frame
B. the competition
C. the available resources
D. the target audience and purpose
E. the financial investment needed
Feedback: The specific format for a marketing plan for an organization depends on the following: the target audience and purpose, the kind and
complexity of the organization, and the industry.
7. Elements in a marketing plan depend on who the audience is and what its purpose is. For example, the marketing plan for an internal audience
would
A. be informally written.
B. contain specific financial details.
C. point the direction for future marketing activities.
D. explain organization and structure.
E. provide biographical information of key players.
Feedback: Elements included in a particular marketing plan depend heavily on (1) who the audience is and (2) what its purpose is. A marketing plan
for an internal audience seeks to point the direction for future marketing activities and is sent to all individuals in the organization who must
implement the plan or who will be affected by it. See Figure A-1.
8. Elements in a marketing plan depend on who the audience is and what the purpose is. For example, the marketing plan for an external audience
would
A. give a broad general overview.
B. function as a sales document.
C. be more informally written.
D. be directed to the people who would be affected by it.
E. be directed to the people who must implement the plan.
Feedback: Elements included in a particular marketing plan depend heavily on (1) who the audience is and (2) what its purpose is. A marketing plan
for an external audience, such as friends, banks, venture capitalists, or potential investors for the purpose of raising capital, has the additional function
of being an important sales document. See Figure A-1.
Feedback: A neighborhood restaurant has a less detailed marketing plan than Apple, which serves international markets. The restaurant's plan would
be relatively simple and directed at serving customers in a local market. In Apple's case, because there is a hierarchy of marketing plans, various
levels of detail would be used—such as the entire organization, the strategic business unit, or the product/product line. Elements included in a
particular marketing plan depend heavily on the kind and complexity of the organization.
10. The industry within which a product will compete should affect the format of an organization's business or marketing plan. However, since the
complexities of products can differ greatly,
A. the size of the potential workforce included in their plans differs.
B. the investment potential of investors included in their plans differs.
C. the experience of the key personnel demonstrated in their plans differs.
D. the time periods likely to be covered by their plans differ.
E. the knowledge of technical language used in their plans differs.
Feedback: Both the restaurant serving a local market and Apple, selling electronic devices globally, analyze elements of their industry. However,
their geographic scopes are far different, as are the complexities of their offerings and, hence, the time periods likely to be covered by their plans. A
one-year marketing plan may be adequate for the restaurant, but Apple may need a five-year planning horizon because product development cycles
for complex, new electronic devices may be many years.
11. A(n) __________ is a road map for the entire organization for a specified future period of time, such as one year or five years.
A. marketing dashboard
B. strategic plan
C. operation plan
D. business plan
E. marketing metric
12. A key difference between a marketing plan and a business plans is that
A. a marketing plan is used for consumer products and a business plan is used for industrial products.
B. a marketing plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the
organization.
C. a business plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the
organization.
D. a marketing plan covers a greater length of time for its financial projections.
E. a business plan covers a greater length of time for its financial projections.
Feedback: A key difference between a marketing plan and a business plan is that the business plan contains details on the research and development
(R&D)/operations/manufacturing activities of the organization.
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