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Name: ____________________________________________ Date: __________________ Period:______ Grade: ____ Marketing Plan True or False Directions: Determine whether each statement is true or false. If the statement is false, rewrite it so that it becomes a true statement. 1. A marketing plan is often included as part of a company’s overall business plan. _________________ __________________________________________________________________________________ 2. Marketing plans are important only for big companies. ______________________________________ __________________________________________________________________________________ 3. Marketing plans are read only by marketing team members. __________________________________ __________________________________________________________________________________ 4. Writing a marketing plan involves quite a bit of time and effort. ________________________________ __________________________________________________________________________________ 5. Writing a marketing plan helps a company to understand its target market(s) better. ______________ __________________________________________________________________________________ 6. Marketing goals are best if they are non-specific. ___________________________________________ __________________________________________________________________________________ 7. Marketing plans are used to obtain funding from outside investors only. _________________________ __________________________________________________________________________________ 8. Marketing plans make it more difficult for a company to track its progress. _______________________ __________________________________________________________________________________ 9. Marketing-plan formats vary from business to business. _____________________________________ __________________________________________________________________________________ 10. The executive summary is an introduction to the marketing plan. _____________________________ __________________________________________________________________________________ 11. The situation analysis is often summarized with a SWOT chart. _______________________________ __________________________________________________________________________________ 12. Every marketing plan must include a section on desired target market. __________________________ __________________________________________________________________________________ 13. Marketing strategies and objectives take up very little space in the marketing plan. _______________ __________________________________________________________________________________ 14. Marketing plans detail expected expenses and profits. ______________________________________ __________________________________________________________________________________ 15. An appendix is a place for marketing team members to include personal notes and pictures. ________ __________________________________________________________________________________ Marketing Plan True or False – Answer Guide 1. A marketing plan is often included as part of a company’s overall business plan. True 2. Marketing plans are important only for big companies. False; marketing plans are essential to the success of companies both big and small. 3. Marketing plans are read only by marketing team members. False; marketing plans have wide audiences, including employees throughout the organization, potential investors, board members, etc. 4. Writing a marketing plan involves quite a bit of time and effort. True 5. Writing a marketing plan helps a company to understand its target market(s) better. True 6. Marketing goals are best if they are non-specific. False; specific marketing goals are best because they are easier to remember and achieve. 7. Marketing plans are used to obtain funding from outside investors only. False; marketing plans can also be used to obtain funding from within the organization, such as a portion from the yearly budget. 8. Marketing plans make it more difficult for a company to track its progress. False; marketing plans make it easier for a company to track its progress because they provide a gauge for success. 9. Marketing-plan formats vary from business to business. True 10. The executive summary is an introduction to the marketing plan. True 11. The situation analysis is often summarized with a SWOT chart. True 12. Every marketing plan must include a section on desired target market. False; when a marketing plan is not designed to enter a new target market or introduce a new product, it may not include a section on desired target market. 13. Marketing strategies and objectives take up very little space in the marketing plan. False; marketing strategies and objectives are the heart of the marketing plan and often take up 50 percent or more of the length. 14. Marketing plans detail expected expenses and profits. True 15. An appendix is a place for marketing team members to include personal notes and pictures. False; an appendix is a place for charts, graphs, and miscellaneous materials related to the marketing plan.