Quiz
Marketing plan
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Questions in this quiz (3)
1A [blank_start]marketing plan[blank_end] is a document outlining a firm's [blank_start]marketing objectives[blank_end], and marketing [blank_start]strategies[blank_end] to be used to [blank_start]achieve[blank_end] these objectives.
- Amarketing plan
- Bmarketing objectives
- Cstrategies
- Dachieve
2The following is the process that is involved in marketing planning:
1. [blank_start]Market audit[blank_end]
2. [blank_start]marketing objectives[blank_end]
3. [blank_start]Marketing strategies[blank_end]
4. Monitor and review
5. [blank_start]Evaluation[blank_end]- AMarket audit
- Bmarketing objectives
- CMarketing strategies
- DEvaluation
3The main advantage of marketing planning is that it [blank_start]improves[blank_end] the firm's chances of success. Even though it does not [blank_start]guarantee[blank_end] success, it does help managers to [blank_start]identify[blank_end] and address likely problems.
The various [blank_start]functional[blank_end] areas of a a business will also have clear idea of the organization's [blank_start]objectives[blank_end] and the constraints in which they are to operate. Therefore, a key role of marketing planning is to allow marketing managers to have better [blank_start]control[blank_end] of the organization
On the other hand, marketing planning has its limitations. Many small businesses do not have the time, resources or expertise to [blank_start]plan[blank_end] their marketing in such a [blank_start]systematic[blank_end] way. These small businesses tend to [blank_start]react[blank_end] to changes, rather than anticipating these changes in the marketplace. Even if you are a [blank_start]large[blank_end] firm, it will meant that management will have to devote appropriate resources (time, people and money) to marketing planning.
Another limitation of marketing planning is that it can be [blank_start]inflexible[blank_end] and become outdated quite quickly as they do not allow for sudden changes in market [blank_start]conditions[blank_end]. This is especially the case in high-tech and fast-paced industries.
Another limitation is that- Aimproves
- Bguarantee
- Cidentify
- Dfunctional
- Eobjectives
- Fcontrol
- Gplan
- Hsystematic
- Ireact
- Jlarge
- Kinflexible
- Lconditions
Information
- Description
- International Baccalaureate Business Management (Marketing plan) Quiz on Marketing plan , created by ali_gayle00 on 15/05/2016.
- Author
- ali_gayle00
- Language
- English
- Views
- 20
- History
- Created on 15 May 2016 · updated on 17 May 2016
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