MKT 300 ASU EATON EXAM 2 | VERIFIED STUDY |
QUESTIONS AND ANSWERS | 2026 UPDATES
Business Plan - ANSWER- a written document that defines the operational and financial
objectives of a business over a particular time, and defines how the business plans to
accomplish those objectives.
Marketing"s Role - ANSWER- Market analysis, monitor results, how objectives will be
achieved.
Marketing Plan - ANSWER- a document that includes an assessment of the marketing
situation, marketing objectives, marketing strategy, and marketing initiatives
Purpose and Significance of a Marketing Plan - ANSWER- A good marketing plan will:
• Explain both the present and future situations of the organization
• Specify the outcomes that are expected
• Describe the specific actions that are to take place
• Identify the resources that will be needed
• Permit the monitoring of each action and its results
Action - Oriented - ANSWER- communicate value, generate interest, persuade customers
Market Knowledge - ANSWER- consumer insight, market research, market intelligence,
strategic thinking.
Executive Summary - ANSWER- written with senior leadership as primary audience
• Goals
• Recommendation
Company description, purpose, and goals - ANSWER- Includes historical information on
business and products, and the company's core competencies and reason for existence
Marketing Situation - ANSWER- Contains assessments of:
- Customers
- Competitors
, - Product portfolio
- Distribution channels
- Marketing environment
Forecasting - ANSWER- Anticipated outcome if marketing objectives are met.
Marketing Strategy - ANSWER- What actions should be taken to meet objectives.
- Target market
- Positioning
- Marketing mix
Measurement and Control - ANSWER- How to monitor progress toward meeting
objectives?
- Financial factors
- Nonfinancial factors
A good marketing plan should be: - ANSWER- realistic, achievable, and measurable. It
should identify the committed resources and the requirements for carrying out the plan should
be clear.
5 Step Decision Making Process - ANSWER- 1. Need recognition
2. Information Search
3. Evaluate Alternatives
4. Purchase Decision
5. Post purchase Evaluation
Need Recognition - ANSWER- occurs when a buyer becomes aware of a difference
between a desired state an actual condition.
Information Search - ANSWER- how much information you have, ease of obtaining
information, value you place on information.
Evaluate Alternatives - ANSWER- consumers use criteria to evaluate alternatives based on
internal and external info
(awareness set, evoked set, consideration set)
QUESTIONS AND ANSWERS | 2026 UPDATES
Business Plan - ANSWER- a written document that defines the operational and financial
objectives of a business over a particular time, and defines how the business plans to
accomplish those objectives.
Marketing"s Role - ANSWER- Market analysis, monitor results, how objectives will be
achieved.
Marketing Plan - ANSWER- a document that includes an assessment of the marketing
situation, marketing objectives, marketing strategy, and marketing initiatives
Purpose and Significance of a Marketing Plan - ANSWER- A good marketing plan will:
• Explain both the present and future situations of the organization
• Specify the outcomes that are expected
• Describe the specific actions that are to take place
• Identify the resources that will be needed
• Permit the monitoring of each action and its results
Action - Oriented - ANSWER- communicate value, generate interest, persuade customers
Market Knowledge - ANSWER- consumer insight, market research, market intelligence,
strategic thinking.
Executive Summary - ANSWER- written with senior leadership as primary audience
• Goals
• Recommendation
Company description, purpose, and goals - ANSWER- Includes historical information on
business and products, and the company's core competencies and reason for existence
Marketing Situation - ANSWER- Contains assessments of:
- Customers
- Competitors
, - Product portfolio
- Distribution channels
- Marketing environment
Forecasting - ANSWER- Anticipated outcome if marketing objectives are met.
Marketing Strategy - ANSWER- What actions should be taken to meet objectives.
- Target market
- Positioning
- Marketing mix
Measurement and Control - ANSWER- How to monitor progress toward meeting
objectives?
- Financial factors
- Nonfinancial factors
A good marketing plan should be: - ANSWER- realistic, achievable, and measurable. It
should identify the committed resources and the requirements for carrying out the plan should
be clear.
5 Step Decision Making Process - ANSWER- 1. Need recognition
2. Information Search
3. Evaluate Alternatives
4. Purchase Decision
5. Post purchase Evaluation
Need Recognition - ANSWER- occurs when a buyer becomes aware of a difference
between a desired state an actual condition.
Information Search - ANSWER- how much information you have, ease of obtaining
information, value you place on information.
Evaluate Alternatives - ANSWER- consumers use criteria to evaluate alternatives based on
internal and external info
(awareness set, evoked set, consideration set)
