,Marketing, 14e (Kerin)
Appendix A
1) In order to launch a start-up firm, Arthur R. Kydd believes that the firm needs to have a real
product with
A) a distinctive point of difference that satisfies customer needs.
B) a prototype to test in the real world.
C) a list of all the other ideas you have, including this one.
D) some of your own money to demonstrate your belief that this product is a winner.
E) friends in the industry that you wish to enter.
Answer: A
Explanation: Arthur R. Kydd, who has helped launch more than 60 start-up firms, believes that a
start-up firm needs to have a real product with a distinctive point of difference that satisfies
customer needs.
Difficulty: 1 Easy
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2) Arthur R. Kydd has helped launch more than 60 start-up firms and believes if you have a real
product with a distinctive point of difference that satisfies the needs of customers, you may have
a winner. The way to demonstrate this to him is to
A) create a prototype and test it in the real world.
B) submit a quality résumé that demonstrates the likelihood of future success.
C) develop a well-written marketing or business plan.
D) make a list of all the other ideas you have, including this one.
E) ask for an informal interview.
Answer: C
Explanation: If you have a real product with a distinctive point of difference that satisfies the
needs of customers, you may have a winner. And you get a real feel for this in a well-written
marketing or business plan.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
1
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
,3) A(n) ________ is a road map for the marketing activities of an organization for a specified
future time period, such as one year or five years.
A) marketing plan
B) mission statement
C) operation plan
D) business plan
E) marketing dashboard
Answer: A
Explanation: Key term definition—marketing plan.
Difficulty: 1 Easy
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
4) There is no single generic marketing plan that can apply to all organizations or all institutions.
Rather, the specific format for a marketing plan for an organization depends on which of the
following?
A) the financial investment needed
B) the time frame
C) available resources
D) the industry
E) the competition
Answer: D
Explanation: No single generic marketing plan applies to all organizations and all situations.
Rather, the specific format for a marketing plan for an organization depends on the following:
the target audience and purpose, the kind and complexity of the organization, and the industry.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
, 5) Which of the following statements about marketing plans is most accurate?
A) A marketing plan has little or no value unless it projects plans at least 10 years into the future.
B) It is important to use the exact market plan format regardless of the product or industry.
C) Although sales figures will vary greatly, the marketing plan for a small family-owned food
store will be almost identical to the marketing plan of a large supermarket chain, if written
correctly.
D) Although the target audience and purpose affect the design of a marketing plan, the type of
industry plays a relatively small, if any, role in its design.
E) No single generic marketing plan applies to all organizations and all situations.
Answer: E
Explanation: No single generic marketing plan applies to all organizations and all situations.
Rather, the specific format for a marketing plan for an organization depends on the following:
the target audience and purpose, the kind and complexity of the organization, and the industry.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
6) The format for a marketing plan for an organization depends on which of these?
A) the time frame
B) the competition
C) the available resources
D) the target audience and purpose
E) the financial investment needed
Answer: D
Explanation: The specific format for a marketing plan for an organization depends on the
following: the target audience and purpose, the kind and complexity of the organization, and the
industry.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
3
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
Appendix A
1) In order to launch a start-up firm, Arthur R. Kydd believes that the firm needs to have a real
product with
A) a distinctive point of difference that satisfies customer needs.
B) a prototype to test in the real world.
C) a list of all the other ideas you have, including this one.
D) some of your own money to demonstrate your belief that this product is a winner.
E) friends in the industry that you wish to enter.
Answer: A
Explanation: Arthur R. Kydd, who has helped launch more than 60 start-up firms, believes that a
start-up firm needs to have a real product with a distinctive point of difference that satisfies
customer needs.
Difficulty: 1 Easy
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2) Arthur R. Kydd has helped launch more than 60 start-up firms and believes if you have a real
product with a distinctive point of difference that satisfies the needs of customers, you may have
a winner. The way to demonstrate this to him is to
A) create a prototype and test it in the real world.
B) submit a quality résumé that demonstrates the likelihood of future success.
C) develop a well-written marketing or business plan.
D) make a list of all the other ideas you have, including this one.
E) ask for an informal interview.
Answer: C
Explanation: If you have a real product with a distinctive point of difference that satisfies the
needs of customers, you may have a winner. And you get a real feel for this in a well-written
marketing or business plan.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
1
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
,3) A(n) ________ is a road map for the marketing activities of an organization for a specified
future time period, such as one year or five years.
A) marketing plan
B) mission statement
C) operation plan
D) business plan
E) marketing dashboard
Answer: A
Explanation: Key term definition—marketing plan.
Difficulty: 1 Easy
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
4) There is no single generic marketing plan that can apply to all organizations or all institutions.
Rather, the specific format for a marketing plan for an organization depends on which of the
following?
A) the financial investment needed
B) the time frame
C) available resources
D) the industry
E) the competition
Answer: D
Explanation: No single generic marketing plan applies to all organizations and all situations.
Rather, the specific format for a marketing plan for an organization depends on the following:
the target audience and purpose, the kind and complexity of the organization, and the industry.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
, 5) Which of the following statements about marketing plans is most accurate?
A) A marketing plan has little or no value unless it projects plans at least 10 years into the future.
B) It is important to use the exact market plan format regardless of the product or industry.
C) Although sales figures will vary greatly, the marketing plan for a small family-owned food
store will be almost identical to the marketing plan of a large supermarket chain, if written
correctly.
D) Although the target audience and purpose affect the design of a marketing plan, the type of
industry plays a relatively small, if any, role in its design.
E) No single generic marketing plan applies to all organizations and all situations.
Answer: E
Explanation: No single generic marketing plan applies to all organizations and all situations.
Rather, the specific format for a marketing plan for an organization depends on the following:
the target audience and purpose, the kind and complexity of the organization, and the industry.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
6) The format for a marketing plan for an organization depends on which of these?
A) the time frame
B) the competition
C) the available resources
D) the target audience and purpose
E) the financial investment needed
Answer: D
Explanation: The specific format for a marketing plan for an organization depends on the
following: the target audience and purpose, the kind and complexity of the organization, and the
industry.
Difficulty: 2 Medium
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
3
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
