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Focus groups are best used to collect which type of information?
a. research proven
b. qualitative
c. quantitative
d. historical - ANSWER ✔✔Qualitative
In a marketing plan, which of the following is a component of marketing
research?
a. Objectives
,b. SWOT analysis
c. Mission statement
d. Strategies - ANSWER ✔✔SWOT Analysis
A sound marketing plan is based on:
a. the firm's staffing and ability to react to the marketplace
b. the condition of the current economy
c. markets, clients, competitors, and the firm's resources
d. the success of the firm's marketing director - ANSWER
✔✔Markets, clients, competitors, and the firm's resouces
Target market selection is most effective when based on:
a. acceptance within industry structure
b. SWOT analysis and desires of principals
c. financial potential for long term stability and organizational growth
d. political changes affecting an industry - ANSWER ✔✔SWOT
analysis and desires of principals
The primary goal of the SWOT analysis is to:
a. write the goals and objectives of the strategic plan
,b. set an overall direction for the firm's future
c. assign action items for follow-up
d. hold a brainstorming session for strategies - ANSWER ✔✔set an
overall direction for the firm's future
The fundamental purpose of marketing is to improve:
a. a firm's image in comparison to competing firms
b. the perception of the firm as a leader in innovation
c. the graphic quality of their graphic materials
d. the quality and/or volume of business - ANSWER ✔✔the quality
and/or volume of business
Which of the following methods is optimal to all other methods of
preparing an annual marketing budget?
a. top down
b. goal based
c. percentage
d. projection - ANSWER ✔✔Goal based
Marketing plans should parallel the firm's:
a. service capabilities
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, b. financial objectives
c. overhead functions
d. stockholder's equity - ANSWER ✔✔Financial objectives
Labor or staff costs account for what percentage of a marketing budget?
a. 30-45%
b. 40-50%
c. 50-70%
d. 60-80% - ANSWER ✔✔50 to 70%
The term position refers to the:
a. firm's perception of itself compared to its competition
b. external perception of the firm compared to its competition
c. firm's percentage of market share
d. market's response to economic fluctuations - ANSWER
✔✔external perception of the firm compared to its competition
Two basic strategies for developing an effective client relations program
are: