Elements in a Marketing Plan Depend on Who the Audience

question 76

Multiple Choice

Elements in a marketing plan depend on who the audience is and what its purpose is. For example, the marketing plan for an internal audience would

• A) be informally written.
• B) contain specific financial details.
• C) point the direction for future marketing activities.
• D) explain organization and structure.
• E) provide biographical information of key players.

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Definitions:

Limited Resources

The finite availability of inputs such as labor, materials, and capital, which restricts production capabilities and economic growth.

Unlimited Wants

The concept in economics that human desires for goods and services exceed the available resources, leading to perpetual states of decision making and prioritization.

Economizing Behavior

The tendency of individuals or organizations to attempt to minimize costs or expenses and maximize value.

Scarce Resources

Limited natural resources that are not abundant enough to satisfy all the wants and needs of a population.