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Chapter 9 Practice Questions | 43 LLEARNING OBJECTIVES & 1437 .Yeu § (o J 00119 § (o] 113 B C ha pter N i ne Learning Objective: Describe how insurers organize their home office and agency marketing operations. 1. Withregard to a company that divides its marketing operations into corporate marketing and agency marketing, it most likely 1s correct to say that corporate marketing oversees marketing campaigns directed primarily to (external customers / producers). It is also correct to say that representatives from marketing typically (participate / do not participate) in product development. (1) external customers / participate (2) external customers / do not participate (3) producers / participate (4) producers / do not participate Learning Objective: Identify and describe the essential elements of a marketing plan. 2. Most marketing plans include the following essential elements: an executive summary, a situation analysis, marketing objectives, marketing strategies, tactical/action programs, budgets, and evaluation and control methodology. A tactical/action program is best described as (1) an evaluation of the internal and external environmental factors that affect the insurer’s marketing operations (2) a summary of the plan’s proposed actions, the costs associated with those actions, and the intended results of those actions (3) a description of the marketing activities that are to be performed, the people who are responsible for performing the activities, and the results that are expected to be produced by the activities (4) aschedule of projected expenses and revenues that shows how funds will be allocated to various elements of the marketing mix and how funds will be divided among the activities associated with each element Copyright © 2012 LL Global, Inc. All rights reserved. Answers to Practice Questions begin on page 71