Deck 6: Planning,assessment and Adjustment

Question 1

All of the following are indicators of how well customers are responding to their experiences with a firm and its products EXCEPT .

A)intention- to- recommend
B)repeat- purchase intention
C)customer satisfaction
D)brand personality

Answer 1

D

Question 2

All of the following factors would most likely be evaluated in a staircase analysis EXCEPT .

A)brand awareness
B)purchase rate
C)potential market
D)marketing mix

Answer 2

D

Question 3

Which of the following is used by firms to collect data about customer responses to the marketing mix?

A)ROMI tool
B)CRM system
C)SWOT analysis
D)BCG matrix

Answer 3

B

Question 4

Which of the following is a true statement about forecasts,budgets and marketing mix plans?

A)They should be developed with a SWOT analysis.
B)They should be developed simultaneously.
C)They should be developed with a BCG Matrix.
D)They should be developed independently.

Question 5

would most likely be used by a marketing manager who needs to determine ROMI coefficients.

A)Data mining
B)Diversification strategy
C)SWOT analysis
D)Regression analysis

Question 6

According Frederick Reichheld,the Net Promoter Index is a strong indicator of _.

A)core competencies
B)consumer acquisition costs
C)future corporate growth
D)portfolio expansion

Question 7

A(n)is a document that describes the marketing environment,outlines the marketing objectives and strategies,and identifies how the company will implement and control those strategies.

A)financial plan
B)operational plan
C)communications plan
D)marketing plan

Question 8

Effective marketing objectives should be all of the following EXCEPT .

A)time- specific
B)specific
C)relevant
D)aspirational

Question 9

Which of the following is a true statement about the cereal industry?

A)Many cereal firms launch products without conducting market research.
B)Launching new cereals without conducting research is too costly for most firms.
C)The majority of all new cereals succeed soon after market introduction.
D)Market research significantly reduces the failure rate for new cereal products.

Question 10

According to the generic marketing plan presented in the text,which of the following would NOT be included in the projections section?

A)weaknesses
B)profit models
C)budgets
D)risks

Question 11

Which element of a marketing plan allocates financial resources across activities?

A)budget
B)situation assessment
C)value chain
D)competitive advantages

Question 12

Customer satisfaction surveys,secret- shopper reports,and return on marketing investment models are all examples of .

A)brand awareness assessments
B)advertising score cards
C)marketing measurement tools
D)balanced report card categories

Question 13

According to research by Frederick Reichheld,which of the following post- consumption questions is the most predictive of future consumer behaviors?

A)How strongly do you agree that [company X] deserves your loyalty?
B)How likely is it that you would recommend [company X] to a friend or colleague?
C)How likely is it that you will continue to purchase products from [company X]?
D)How strongly do you agree that [company X] sells quality products?

Question 14

In a marketing plan,modifications made to budgets and objectives are typically based on .

A)promotions
B)strengths
C)segments
D)forecasts

Question 15

A _ would most likely be used by a marketer to improve the accuracy of a sales forecast.

A)staircase analysis
B)consumer group
C)financial metric
D)product platform

Question 16

is the impact on business performance resulting from the implementation of specific marketing activities.

A)Return on marketing investment
B)Situation assessment
C)Marketing accountability
D)Brand health

Question 17

According to ,a dependent variable can be predicted by multiple independent variables.

A)regression logic
B)optimization analysis
C)data analytics
D)CRM indicators

Question 18

A sound marketing plan should do all of the following EXCEPT .

A)establish financial budgets
B)set measurable objectives
C)outline potential risks
D)segment niche consumers

Question 19

Which of the following is NOT a common type of marketing strategy?

A)profit objective
B)sales objective
C)customer objective
D)value objective

Question 20

Marketing budgets that are _ _ enable strategic planners to make assessments and adjustments.

A)somewhat indefinite
B)minimally regressive
C)highly categorized
D)broadly universal

Question 21

Which of the following is typically used in small firms to direct marketing activities,set expectations,and budget resources?

A)situation assessment
B)strategic planning matrix
C)marketing metric
D)marketing plan

Question 22

Most marketing plans establish the size and needs of target segments but not the details of the marketing mix.

Question 23

Which of the following would LEAST likely be used to forecast future sales of a product?

A)market tests
B)market interval scales
C)sales force estimates
D)expert opinions

Question 24

When a firm decides to measure its marketing plan,the firm is necessarily also committing to which of the following?

A)shifting from a customer relationship model to a transactional model
B)implementing a marketing activity report card system
C)purchasing an interactive CRM software program
D)relating marketing activities to specific marketing objectives

Question 25

Reichheld's research indicates that loyal customers and fickle customers are equally profitable for firms.

Question 26

The primary purpose for using an impact/likelihood matrix is to .

A)compile budget details
B)gather opinion
C)assess external strengths
D)evaluate risk

Question 27

Regression analysis is primarily used by marketers to _.

A)develop sales forecasts
B)manage the marketing mix
C)assess competitors' brands
D)evaluate strengths

Question 28

When developing the budget for a marketing plan,what are the four primary inputs to consider? Briefly discuss the importance of each element.

Question 29

A staircase analysis helps marketers with sales forecasts by .

A)separating the components that affect sales
B)analyzing budgets for the marketing mix
C)segmenting target markets
D)evaluating effective sales tactics

Question 30

As a marketer,what factors should you monitor to determine the effectiveness of a strategic marketing plan and the marketing mix? How could you benefit from using a CRM system?

Question 31

Sales objectives relate to market share,while financial objectives involve margins and returns.

Question 32

Since marketing plans are primarily persuasive documents used to gain financial resources,any uncertainties or risks associated with the marketing strategy are omitted.

Question 33

Which of the following is NOT a budgeting factor?

A)time frame
B)promotion
C)allocations
D)objectives

Question 34

It is standard practice that marketing budget allocations be based on a percentage of past sales and profits.

Question 35

According to the text,what should immediately follow the executive summary of a marketing plan?

A)corporate mission statement
B)situation assessment
C)financial and profit model
D)marketing mix outline

Question 36

Which of the following is LEAST likely to help a firm manage marketing accountability?

A)interval scales
B)CRM software
C)planning
D)forecasting

Question 37

An impact/likelihood matrix helps a marketer manage risk and develop a contingency plan.

Question 38

Which term refers to different events and changes that could affect the marketing strategy both externally and internally?

A)possible futures
B)budget projections
C)pro forma goals
D)potential valuations

Question 39

How can staircase analysis improve the accuracy of sales forecasting?

Question 40

is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long- term growth.

A)Portfolio analysis
B)Strategic planning
C)Operational planning
D)SWOT analysis