Question 1

Which of the following is true regarding a marketing audit?

Accepted Answer

A)  It focuses primarily on a firm's macromarketing environment. 
B)  It identifies the most-needed improvements and incorporates them into a corrective-action plan with short- and long-run steps. 
C)  It is less effective at locating the real source of a problem than a functional audit. 
D)  It analyzes only those marketing activities that have failed to produce adequate results. 
E)  It relies solely on company managers for data and opinions. 
A)  It focuses primarily on a firm's macromarketing environment. 
B)  It identifies the most-needed improvements and incorporates them into a corrective-action plan with short- and long-run steps. 
C)  It is less effective at locating the real source of a problem than a functional audit. 
D)  It analyzes only those marketing activities that have failed to produce adequate results. 
E)  It relies solely on company managers for data and opinions.

Question 2

As a marketing practice, monitoring involves ________.

Accepted Answer

A)  designing the organization and setting up processes to respond quickly to changes in the environment 
B)  becoming more accountable by measuring, analyzing, and documenting the effects of marketing actions 
C)  tracking what is said online and elsewhere and studying customers, competitors, and others to improve business practices 
D)  determining the most profitable businesses and customers and expending greater organizational resources to capitalize on them 
E)  factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprise 
A)  designing the organization and setting up processes to respond quickly to changes in the environment 
B)  becoming more accountable by measuring, analyzing, and documenting the effects of marketing actions 
C)  tracking what is said online and elsewhere and studying customers, competitors, and others to improve business practices 
D)  determining the most profitable businesses and customers and expending greater organizational resources to capitalize on them 
E)  factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprise

Question 3

Self-audits tend to provide more objective information than audits conducted by external consultants.

Accepted Answer

A) True 
 B)False

Question 4

When customers fall into different user groups with distinct buying preferences and practices, a product team structure is desirable.

Accepted Answer

A) True 
 B)False

Question 5

Many companies now focus on departments as opposed to processes, because processes can be a barrier to smooth performance.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is true about a brand-asset management team (BAMT)?

Accepted Answer

A)  A BAMT is part of the triangular and vertical product team structures. 
B)  BAMTs often report directly to the organization's chief branding officer. 
C)  BAMTs are a traditional, tried and tested means of managing brands. 
D)  Companies with a product-management organization often have only one BAMT. 
E)  The BAMT consists of key representatives from functions affecting the brand's performance. 
A)  A BAMT is part of the triangular and vertical product team structures. 
B)  BAMTs often report directly to the organization's chief branding officer. 
C)  BAMTs are a traditional, tried and tested means of managing brands. 
D)  Companies with a product-management organization often have only one BAMT. 
E)  The BAMT consists of key representatives from functions affecting the brand's performance.

Question 7

Define cause-related marketing. What is the difference between cause-related marketing and social marketing?

Accepted Answer

Cause-related marketing links the firm's

Question 8

Which of the following is true regarding a matrix-management organization?

Accepted Answer

A)  It proves to be cost-effective in the long run. 
B)  It often creates conflicts regarding authority and responsibility for marketing activities. 
C)  It hampers the flow of information among marketing personnel. 
D)  It fosters a strong sense of accountability for performance among product and market managers. 
E)  It is best suited to companies that offer a small range of products to niche markets. 
A)  It proves to be cost-effective in the long run. 
B)  It often creates conflicts regarding authority and responsibility for marketing activities. 
C)  It hampers the flow of information among marketing personnel. 
D)  It fosters a strong sense of accountability for performance among product and market managers. 
E)  It is best suited to companies that offer a small range of products to niche markets.

Question 9

Social marketing programs take little time to develop and are generally easy to implement.

Accepted Answer

A) True 
 B)False

Question 10

Operating management is most effective in controlling direct costs and traceable common costs.

Accepted Answer

A) True 
 B)False

Question 11

A product-management organization ________.

Accepted Answer

A)  often proves to be cost-effective 
B)  simplifies the process of developing a national strategy 
C)  focuses on building market share rather than customer relationships 
D)  reduces an organization's staffing requirements 
E)  allows product managers to achieve functional expertise 
A)  often proves to be cost-effective 
B)  simplifies the process of developing a national strategy 
C)  focuses on building market share rather than customer relationships 
D)  reduces an organization's staffing requirements 
E)  allows product managers to achieve functional expertise

Question 12

Full costing allocates nontraceable common costs to marketing entities and has three major weaknesses. What are they?

Accepted Answer

Full costing has three major weaknesses:

Question 13

What is the purpose of profitability control?

Accepted Answer

The purpose of profitability control is

Question 14

________ is the process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plan's stated objectives.

Accepted Answer

A)  Marketing implementation 
B)  Marketing research 
C)  Marketing analysis 
D)  Brand management 
E)  Product management 
A)  Marketing implementation 
B)  Marketing research 
C)  Marketing analysis 
D)  Brand management 
E)  Product management

Question 15

What is a brand-asset management team (BAMT)?

Accepted Answer

Triangular and horizontal product-team a

Question 16

A marketing audit only benefits a company that is in trouble; companies in good health do not need to conduct them.

Accepted Answer

A) True 
 B)False

Question 17

Served market share ________.

Accepted Answer

A)  expresses the company's sales as a percentage of total market sales 
B)  is sales as a percentage of the total sales to the market 
C)  is market share in relationship to the largest competitor 
D)  is always smaller than overall market share 
E)  measures the relative contribution of different factors to a gap in sales performance 
A)  expresses the company's sales as a percentage of total market sales 
B)  is sales as a percentage of the total sales to the market 
C)  is market share in relationship to the largest competitor 
D)  is always smaller than overall market share 
E)  measures the relative contribution of different factors to a gap in sales performance

Question 18

What are direct, traceable common, and nontraceable common costs? Give an example of each.

Accepted Answer

Direct costs are costs that we can assig

Question 19

Desktop marketing gives marketers information and decision structures on computer dashboards.

Accepted Answer

A) True 
 B)False

Question 20

A customer-management organization deals with individual customers rather than the mass market or market segments.

Accepted Answer

A) True 
 B)False

Exam 23: Managing a Holistic Marketing Organization for the Long Run

Which of the following is true regarding a marketing audit?

As a marketing practice, monitoring involves ________.

Self-audits tend to provide more objective information than audits conducted by external consultants.

When customers fall into different user groups with distinct buying preferences and practices, a product team structure is desirable.

Many companies now focus on departments as opposed to processes, because processes can be a barrier to smooth performance.

Which of the following is true about a brand-asset management team (BAMT)?

Define cause-related marketing. What is the difference between cause-related marketing and social marketing?

Which of the following is true regarding a matrix-management organization?

Social marketing programs take little time to develop and are generally easy to implement.

Operating management is most effective in controlling direct costs and traceable common costs.

A product-management organization ________.

Full costing allocates nontraceable common costs to marketing entities and has three major weaknesses. What are they?

What is the purpose of profitability control?

________ is the process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plan's stated objectives.

What is a brand-asset management team (BAMT)?

A marketing audit only benefits a company that is in trouble; companies in good health do not need to conduct them.

Served market share ________.

What are direct, traceable common, and nontraceable common costs? Give an example of each.

Desktop marketing gives marketers information and decision structures on computer dashboards.

A customer-management organization deals with individual customers rather than the mass market or market segments.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Filters