MKT 300 EATON EXAM 2 STUDY GUIDE
Business Plan - Answers -is 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 Plan - Answers -is a document that includes an assessment of the marketing
situation, marketing objectives, marketing
strategy, and
marketing initiatives
Business Plan written for/includes - Answers -Written for: managers, investors,
stakeholders
Includes: Income statement, cash-flow, statement, balance sheet
Three primary financial documents contained in a business plan - Answers -income
statement (business revenues, expenses, and profits); Cash-flow statement (identifies
how much cash will be needed and the source of this cash); and the balance sheet
(determines the net worth of the company).
Elements of a Marketing Plan - Answers -Title page, executive summary, business
overview, competitive summary, market overview, product overview, operations
overview, management overview, financial overview
Purpose and significance of marketing plan. - Answers -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
communicate the strategy to top executives is paramount
A Marketing Plan should be/should identify - Answers -Should be realistic, measurable,
and achievable
Should identify the committed resources and the requirements for carrying out the plan
How marketing contributes to the business plan - Answers -primarily through its
connection with the external environment, including customers and competitors.
, Marketing also provides information on how the company's objectives will be met and
monitoring if results have been met.
Purpose of action orientated marketing plan - Answers -by providing specific guidance
as to what actions should be taken during the course of time the plan is in operation.
The plan should outline how the company plans on communicating value to potential
customers as well as how to stimulate them to purchase. Specifics are key in the
marketing plan.
-communicate value, generate interest and persuade customers
Key inputs into creating a marketing plan include - Answers -market knowledge
gathered through contact with customers, research, market analysis, and putting all this
information together through strategic thinking
Executive Summary - Answers -Written with senior leadership as primary audience,
- Goals
- Recommendations
Company description, purpose and goals - Answers -Includes historical information on
business and products, and the company's core competencies and reason for existence
Marketing Situation - Answers -Contains assessments of:
- Customers
- Competitors
- Product portfolio
- Distribution channels
- Marketing environment
Forecasting - Answers -Anticipated outcome if marketing objectives are met.
Marketing Strategy - Answers -What actions should be taken to meet objectives.
- Target market
- Positioning
- Marketing mix
Measurement and Control - Answers -How to monitor progress toward meeting
objectives?
- Financial factors
- Nonfinancial factors
Forgetting and percentage retained - Answers -20 minutes - 58.2%
1 hour - 44.2%
1 day - 33.7%
1 week - 25.4%
1 month - 21.1%
Business Plan - Answers -is 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 Plan - Answers -is a document that includes an assessment of the marketing
situation, marketing objectives, marketing
strategy, and
marketing initiatives
Business Plan written for/includes - Answers -Written for: managers, investors,
stakeholders
Includes: Income statement, cash-flow, statement, balance sheet
Three primary financial documents contained in a business plan - Answers -income
statement (business revenues, expenses, and profits); Cash-flow statement (identifies
how much cash will be needed and the source of this cash); and the balance sheet
(determines the net worth of the company).
Elements of a Marketing Plan - Answers -Title page, executive summary, business
overview, competitive summary, market overview, product overview, operations
overview, management overview, financial overview
Purpose and significance of marketing plan. - Answers -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
communicate the strategy to top executives is paramount
A Marketing Plan should be/should identify - Answers -Should be realistic, measurable,
and achievable
Should identify the committed resources and the requirements for carrying out the plan
How marketing contributes to the business plan - Answers -primarily through its
connection with the external environment, including customers and competitors.
, Marketing also provides information on how the company's objectives will be met and
monitoring if results have been met.
Purpose of action orientated marketing plan - Answers -by providing specific guidance
as to what actions should be taken during the course of time the plan is in operation.
The plan should outline how the company plans on communicating value to potential
customers as well as how to stimulate them to purchase. Specifics are key in the
marketing plan.
-communicate value, generate interest and persuade customers
Key inputs into creating a marketing plan include - Answers -market knowledge
gathered through contact with customers, research, market analysis, and putting all this
information together through strategic thinking
Executive Summary - Answers -Written with senior leadership as primary audience,
- Goals
- Recommendations
Company description, purpose and goals - Answers -Includes historical information on
business and products, and the company's core competencies and reason for existence
Marketing Situation - Answers -Contains assessments of:
- Customers
- Competitors
- Product portfolio
- Distribution channels
- Marketing environment
Forecasting - Answers -Anticipated outcome if marketing objectives are met.
Marketing Strategy - Answers -What actions should be taken to meet objectives.
- Target market
- Positioning
- Marketing mix
Measurement and Control - Answers -How to monitor progress toward meeting
objectives?
- Financial factors
- Nonfinancial factors
Forgetting and percentage retained - Answers -20 minutes - 58.2%
1 hour - 44.2%
1 day - 33.7%
1 week - 25.4%
1 month - 21.1%
