Test Bank For Contemporary Marketing 17th Edition By Louis E. Boone
| Indicate whether the statement is true or false. |
1. A firm’s goals should be specific and measurable.
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2. Strategic planning is the process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives.
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3. A marketing plan is not reevaluated once it is completely implemented.
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4. A firm’s marketers must write a marketing plan before formulating an overall marketing strategy.
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5. Every marketing plan requires a budget, a time schedule for implementation, and a system for monitoring the plan’s success or failure.
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6. A marketing plan is a detailed description of the resources and actions needed to achieve stated marketing objectives.
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7. The mission statement puts into words an organization’s overall purpose and reason for being.
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8. The need for a business plan is more acutely felt in a small company than in a large multinational company.
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9. The facilities plan estimates the firm’s employment needs and the skills necessary to achieve organizational goals.
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10. An exit strategy is a plan for a firm to leave the market.
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