Marketing Plan & SWOT Analysis Flashcards

Which component of the marketing plan translates strategies into specific tasks, assigns responsibilities, and sets deadlines?

Answer: Action programs

Action programs (or implementation plans) specify what will be done, who will do it, when it will be completed, and what it will cost.

Rising raw material costs due to global supply chain disruptions should be listed under which SWOT category?

Answer: Threat

External factors beyond the company's control that could negatively impact performance, like supply chain disruptions, are classified as threats.

A marketing plan objective states: 'Increase market share by 5% within 12 months.' This objective is best described as:

Answer: SMART — specific, measurable, achievable, relevant, and time-bound

The objective includes a specific metric (5%), a timeframe (12 months), and is tied to a measurable business outcome, satisfying SMART criteria.

In the context of a SWOT analysis, a company's strong brand equity is an example of a:

Answer: Internal strength

Brand equity is an internal asset that gives the company a competitive advantage, making it an internal strength.

Which section of the marketing plan directly links marketing spending to expected revenue outcomes?

Answer: Financial projections and budgets

Financial projections and budgets outline expected revenues, costs, and profitability, directly connecting marketing investment to business outcomes.

A WO strategy in the TOWS matrix is designed to:

Answer: Minimize weaknesses by taking advantage of opportunities

WO (Weakness-Opportunity) strategies use external opportunities to overcome or compensate for internal weaknesses.

Which of the following best describes the role of marketing controls in a marketing plan?

Answer: Monitoring progress and allowing corrective action

Marketing controls establish metrics and review processes to track performance against objectives and trigger adjustments when needed.