13) The main difference between a marketing strategy and a marketing plan is that:
A. Time-related details are included in a marketing plan.
B. A marketing strategy omits pricing plans.
C. A marketing strategy provides more detail.
D. A marketing plan includes several marketing strategies.
14) Which of the following is part of a complete marketing plan?
A. Competitors' marketing strategies.
B. What company resources (costs) are required and at what rate.
C. How different marketing mixes (for different target markets) relate to each other.
D. All of these.
15) Which of the following would probably NOT be in a proposed marketing plan?
A. A list of what company resources (costs) would be required.
B. A description of the target market and marketing mix.
C. Expected sales and profit results.
D. A statement of how frequently the design of the website will be changed.
16) Target marketing, in contrast to mass marketing,
A. Is limited to small market segments.
B. Focuses on fairly homogeneous market segments.
C. Ignores markets that are large and spread out.
D. Assumes that all customers are basically the same.
17) Good marketing strategy planners know that:
A. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets.
B. The terms mass marketing and mass marketer mean basically the same thing.
C. Mass marketing is often very desirable and effective.
D. Target marketing does not limit one to small market segments.
18) Marketing strategy planners should recognize that:
A. Target markets should not be large and spread out.
B. Target marketing is not limited to small market segments.
C. Large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined markets.
D. Mass marketing is often very effective and desirable.
Oops! You forgot to post your answers.
What is the best approach for marketing services such as a City's best features to attract tourism?
13) The main difference between a marketing strategy and a marketing plan is that a marketing strategy provides more detail. To understand this, we need to know the definitions of these terms. A marketing strategy is a high-level, long-term plan outlining the goals and objectives of a company's marketing efforts. It includes the overall approach and direction for how the company will reach its target market and achieve its marketing objectives. On the other hand, a marketing plan is a more detailed document that translates the marketing strategy into specific actions, timelines, and resources required to implement the strategy. It includes specific marketing tactics, target audience details, budget allocation, and other time-related details like timelines and deadlines.
14) The correct answer is D. All of these. A complete marketing plan includes various components, such as competitors' marketing strategies, company resources (costs) required, and how different marketing mixes for different target markets relate to each other. Understanding competitors' strategies helps a company to position itself effectively in the market. Identifying the required resources and costs helps in budgeting and resource allocation. Analyzing the relationship between different marketing mixes ensures consistency and coherence in marketing efforts across different target markets.
15) The correct answer is D. A statement of how frequently the design of the website will be changed. A proposed marketing plan typically focuses on marketing strategies, target market identification, market segmentations, positioning, marketing mix variables, budget, expected sales and profit results, and resource requirements/costs. The design of a website falls under the realm of tactical implementation rather than being a core component of a marketing plan.
16) The correct answer is B. Focuses on fairly homogeneous market segments. Mass marketing aims to reach a wide and diverse audience with a standardized marketing message, assuming all customers are basically the same. Target marketing, on the other hand, involves focusing on specific market segments that share similar characteristics or needs. Target marketing recognizes that customer preferences and needs can vary, and tailors marketing efforts to appeal to specific groups of customers.
17) The correct answer is C. Mass marketing is often very desirable and effective. Good marketing strategy planners understand that mass marketing, which targets a broad audience with a standardized marketing message, can be effective in certain situations. It allows companies to reach a wide range of customers and leverage economies of scale. However, they also recognize that target marketing can be more efficient and cost-effective, as it allows for a more tailored approach to specific market segments.
18) The correct answer is B. Target marketing is not limited to small market segments. Marketing strategy planners should recognize that target marketing is not necessarily about limiting oneself to small market segments. Target markets can vary in size, and the focus should be on identifying specific segments that align with the company's objectives and resources. While large firms like General Electric, Target, and Procter & Gamble may have diverse customer bases, they can still benefit from targeting specific market segments to optimize their marketing efforts. Moreover, mass marketing is not always the most effective approach and may not leverage the company's resources efficiently.