Chapter 2 Review - The marketing Plan

A low profit margin would be an external factor of the SWOT analysis.

Information about the values and attitudes that shape consumers’ lifestyles.

the marketing term used for putting a market plan into action and managing it

The executive summary explains how objectives will be measured and who will evaluate.

What would you use to buy a movie ticket?

Maslow’s hierarchy of needs that demonstrates achieving your dreams.

An expectation that reflects a marketing plan’s objectives.

The PEST Analysis scans internal influences of the business.

Information regarding ethnic backgrounds &household income helps define the market segmentation

information about where people live

A combination of geographic, demographic, and psychographic data about a group of people.

According to the text, which U.S. ethnic population is declining, compared to others?

Marketing strategies are target mkts & sets of mktng mix choices that focus on those markets.

Those individuals that are part of Generation X are savvy purchasers and skeptical consumers.

a company’s review of its staff, financial situation, & marketing mix, etc. can be found.

examination of factors and trends that affect marketing strategies

The state of this shapes both business costs and consumer spending.

Starbuck's decided to sell its coffee in local grocery stores. What mkting. decision is this?

Lays potato chips marketing Cajun flavored potato chips to people living in the south

a brief overview of the entire marketing plan

A small independent restaurant segments its market on a regional basis.

Discretionary income might be used to buy which items?

a combination of four stages used to market a product

sending catalogs to music teachers, dancers, and other consumers is using what type data?

A marketing plan is a formal written document which directs activities for a specific time.

Which of the following is NOT an advantage of mass marketing?

Political, economic, socio-cultural and technological are part of this.

Disposable income is the money you have left after paying for basic living necessities.

Companies that have easy-to-use Web sites are more likely to stay close to their customers.

According to U.S. Census Bureau, the most racially & ethnically diverse group is Generation Y.

Research & development will stop or slow down during this time.

Businesses can use database technology to provide products to a specified target market.

The ? “What is the company’s market share?” helps analyze the company's competitive advantage.

money left after taking out taxes

Fashions and information get passed along via the internet to which group of individuals?

This is one of the four basic marketing decisions.

The exchange rate is a political factor used when evaluating the economy.

A time frame will help you determine if a marketing plan objective has been reached.

Which of the following is NOT one of the 3 C’s of an internal SWOT Analysis?

characteristics such as age, gender, ethnic background, income

The 80/20 rule states that 80% of a company’s customers generate 20% of company sales.

separating large groups into smaller, precise groups based on characteristics