What are the 5 steps to formulate a successful marketing plan?

Chapter 4 Study Questions:

  1. What are the 5 steps to formulate a successful marketing plan?
  2. How would you apply and use Google digital tools? (100 words)
  3. Describe the keyword lists to test the plan.
  4. How would you use digital channels to create demand?
  5. List 3 kinds of segmentation. For what kinds of products or services would one kind be more important than another?
  6. Define and describe are product positioning and perceptual mapping?
  7. Define and describe viral marketing? Provide an example NOT referred to in the textbook. Why do you think a viral effect was created in your example?
  8. How can a small company use Google AdWords for market research?
  9. What factors determine whether the business would offer discounts?
  10. What are the 3 pricing objectives? give an example of an industry that would use each.
  11. You own a coffee shop in a large urban area that carries a total of US$500,000 per year in fixed costs (rent, electricity, heating, cooling, etc.) Your cafe sells only coffee for US$2.50 per cup. The average variable cost per cup is US$1.00. How many cups do you need to sell per day to break even? If the price of the coffee is decreased by 10% for a special promotion (with all costs staying the same), how many cups would you need to sell to break even?

Chapter 6 Study Questions:

  1. What are the benefits of preparing the canvas model first before a written business plan?
  2. What are the components of a business plan?
  3. What are the different types of business plans?
  4. How long does it take to write a business plan?
  5. Why do business plans fail? (100 words)
  6. Why should the executive summary be written last?

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