Business plan
The primary purpose of a business plan is...
to outline the financial and operational aspects of a company.
Using cross-functional teams and frequent communication can improve the interaction between...
marketing and sales.
How can job rotation benefit marketing and sales interaction?
By increasing collaboration and empathy.
Developing a competitive long-term strategy is one key competency of...
marketing.
__________ aims to sell existing products in new markets.
Market development strategy
What does Section II of a business plan discuss?
How the business will be organized.
Mention the primary functions of marketing and sales within a company.
Understanding and solving customer needs.
Complete the statement: 1)______ focuses on long-term strategies, 2)______ on short-term needs.
1) Marketing
2) Sales
In the BCG matrix, this product type represents high market share but low growth rate.
Cash Cow.
The SWOT analysis focuses on...
examining internal and external factors affecting strategy.
How does the strategic planning process benefit organizations?
It provides direction for resource allocation and market strategies.
Mention a common source of conflict between marketing and sales.
Overlapping responsibilities.
This industry is most likely to have a Brand-Focused Professionals cluster.
Machinery.
What is the main goal of 'market penetration strategy'?
To increase sales of present products in existing markets.
Mention one of the primary goals of relationship marketing.
To develop long-term partnerships with customers.
How many sources should be included on the sources page of a business plan?
Five or more separate resources.
How does physical proximity affect the relationship between marketing and sales?
It leads to better communication.
__________ is the expected length of the oral presentation for the business plan.
5 to 10 minutes
What kind of relationship is characterized by shared processes, systems, and metrics?
Integrated.
Focusing on product uniqueness and sustainability is a key factor in developing...
a competitive marketing strategy.
Match the following concepts with their definitions.
1. The first step in the strategic planning process.
2. It defines the organization's purpose and values.
3. It is part of the 'Financial Issues' section.
4. Not a typical element of a mission statement.
5. A description of the business and its location.
a) Mission statement.
b) Monthly cash flow statements.
c) Defining the organizational mission.
d) Company overview section.
e) Sales growth targets.
1. c)
2. a)
3. b)
4. e)
5. d)
How did the American Marketing Organization (AMA) redefine marketing in 2007?
As creating, communicating, and delivering value.
The unique benefit a product offers compared to others refers to...
differential advantage.
__________ is the strategy used when an organization develops new products for new markets
Diversification
The BCG matrix helps organizations determine...
the strategic position of their products or services.