1133947751_404321.rtf - Chapter 7The Marketing Plan...

This preview shows page 1 - 3 out of 26 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Foundations of Business
The document you are viewing contains questions related to this textbook.
Chapter 11 / Exercise 11
Foundations of Business
Hughes/Pride
Expert Verified
Chapter 7—The Marketing Plan TRUE/FALSE 1. Small business marketing is best defined as the performance of distribution activities that affect the flow of goods and services from producer to consumer or user. ANS: F Small business marketing involves numerous activities, many of which occur even before a product is created or made ready for distribution or sale. PTS: 1 DIF: Difficulty: Moderate REF: p. 171 OBJ: LO: 7-1 NAT: BUSPROG: Reflective Thinking STA: DISC: Value Creation KEY: Bloom’s: Knowledge 2. In order to achieve market success, a firm should concentrate on either providing an excellent product and/or service or devising an insightful marketing strategy. ANS: F As suggested by the consumer-oriented philosophy, a firm must also pursue customer satisfaction if it is to be successful. PTS: 1 DIF: Difficulty: Moderate REF: p. 172 OBJ: LO: 7-1a NAT: BUSPROG: Reflective Thinking STA: DISC: Value Creation KEY: Bloom’s: Comprehension 3. Regardless of the type of business, the consumer-oriented marketing philosophy is the best choice among the competing alternatives. ANS: T PTS: 1 DIF: Difficulty: Easy REF: p. 172 OBJ: LO: 7-1a NAT: BUSPROG: Reflective Thinking STA: DISC: Value CreationKEY: Bloom’s: Comprehension 4. Because many small business owners have strong production skills, they often attend mostly to the marketing side of the business to compensate. ANS: F Many small business owners have strong production skills and are weak in marketing ability, and therefore they attend primarily to production considerations. PTS: 1 DIF: Difficulty: Easy REF: p. 173 OBJ: LO: 7-1b NAT: BUSPROG: Reflective Thinking STA: DISC: Dynamics KEY: Bloom’s: Comprehension 5. If an entrepreneur anticipates several target markets, each individual segment must have its own corresponding customer profile. ANS: T PTS: 1 DIF: Difficulty: Easy REF: p. 174 OBJ: LO: 7-2a NAT: BUSPROG: Reflective Thinking STA: DISC: Value CreationKEY: Bloom’s: Comprehension 6. A detailed analysis of competitors is an important part of a firm's formal marketing plan.
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Foundations of Business
The document you are viewing contains questions related to this textbook.
Chapter 11 / Exercise 11
Foundations of Business
Hughes/Pride
Expert Verified
ANS: T PTS: 1 DIF: Difficulty: Easy REF: p. 175 OBJ: LO: 7-2b NAT: BUSPROG: Reflective Thinking STA: DISC: Value CreationKEY: Bloom’s: Comprehension 7. The marketing strategy section provides the most detailed information in a formal marketing plan. ANS: T PTS: 1 DIF: Difficulty: Moderate REF: p. 175 OBJ: LO: 7-2c NAT: BUSPROG: Reflective Thinking STA: DISC: Value CreationKEY: Bloom’s: Knowledge 8. It is best to write a marketing plan before collecting marketing research data. ANS: F A marketing plan is stronger with marketing research as a foundation. PTS: 1 DIF: Difficulty: Easy REF: p. 178 OBJ: LO: 7-3 NAT: BUSPROG: Reflective Thinking STA: DISC: Data Analysis KEY: Bloom’s: Comprehension 9. Marketing research is defined as the gathering, processing, reporting, and interpreting of marketing information.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture