Marketing Plan and Research Practice test

A marketing plan is a written document that provides direction for marketing activities

• True

• False

Organizations do not need to understand their market in order to write marketing plan

• True

• False

Executive summary is written statement that captures an organization’s purpose, customer orientation and business philosophy

• True

• False

SWOT analysis provides information that is helpful in matching organization’s resources and capabilities to competitive environment in which it operates

• True

• False

Mission statement should explain why your organization exists and what it hopes to achieve

• True

• False

The SMART criteria includes Specific, Measurable, Action-oriented, Realistic, and Time-bound

• True

• False

A budget gives the current value of the company

• True

• False

Financing is not a critical part of the market plan

• True

• False

Threats in SWOT are events that could have negative impact on the company

• True

• False

The market plan doesn’t need to include information on risk management, sales or promotion

• True

• False