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CHAPTER m The Marketing Plan

Review Key Concepts: CompletionCircle the letter of the word or phrase that best completes each of the following sentences.

1. Marketing objectives are or should bea. identified before market analysis.b. the same as marketing strategies and plans.c. done after marketing strategies and plans are completed.d. a guide for developing marketing strategies and the marketing plan.

2. Marketing tactics area. often called the six Ps.b. plans for carrying out marketing objectives.c. the same as the marketing mix.d. developed independently of each other.

~, 3. Branding, packaging, and labeling area. ways products will be identified for inspection.b. a part of the promotion strategy.c. all the same thing.d. the way your product will be identified.

4. Planned differences in quality, availability, pricing, and uses are all ways of achieving

a. product mix.. b. product positioning.c. product features.d. product selection.

5. A channel of distribution that involves intermediaries is am)

a. direct channel.b. indirect channel.c. vertical channel.d. horizontal channel.

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Entrepreneurship and Small Business Management, Chapter 10 131

6. Placement of a product in a limited number of sales outlets in an area is referred to asa. intensive distribution.b. exclusive distribution.c. selective distribution.d. preferred distribution.

7. Sufficient demand to add a product or product line means there is enougha. demand to break even.b. demand to indicate that there is interest.c. demand to warrant formal market research.d. confidence and personal preference on the owner's part.

8. Products packaged with a retailer's or wholesaler's name on them are known asa. off brands.b. national brands.c. regional brands.d. private brands.

9. Features and benefits are a part of thea. product strategy.b. price strategy.c. place strategy.d. promotion strategy.

10. "Waysto improve your place strategy include all of the following excepta. improving location.b. redesigning products.c. rearranging layout.d. providing customer access through the Internet.

11. After a successful start-up, a business might redefine its marketing objective to includea. growth.b. profit taking.c. diversification.d. a and c.

132 Entrepreneurship and Small BusinessManagement, Chapter 10