12) Most successful marketing plans are based on A) the entrepreneurs' commitment to the product. B) a scattergun approach C) secondary and primary marketing research data. D) financial resources 13) Which is not a financial activity that businesses commonly outsource? A) Budgeting BA_Sales C) Accounts payable D) Payroll The pricing type that adds a percentage markup reflecting the profit objective of the firm to costs is called A) demand-based pricing B) competition-based pricing C) cost-based pricing D) none of these answers are correct 14) 15) Investors are most likely to want to know A) the identity of key employees B) how much money is needed by the business. C) the product price structure of key competitors. D) the owners' vacation plans 16) Marketing plans should A) be based on proven business intuition. B) provide for continuity from annual plan to anual plan C) be developed from scratch each year. D) be repeated without being redrawn if they have worked well Writing a business plan is essential for A) raising money B) managing the new business, C) attracting reliable suppliers D) both raising money and helping them understand the business, 17) 18) Marketing action and strategy decisions budgets A) are unrelated to other budgets in the business. B) define borrowing needs. C) are useful in preparing the business's financial plan. D) are freestanding 19) An analysis of competitors in a marketing plan would A) determine who the competitors are B) be written for investors. C) assess legal restrictions D) consider suppliers' needs What is the last component in a condensed business plan? A) Assess the risk B) Plan the financing C) Plan the marketing approach D) Describe the management team. 20) 21) Guerilla marketing refers to A) advertising that attacks competitors B) creative, catchy, and low-cost promotion C) secret marketing initiatives. D) entrepreneurs who are hands on marketers