Deck 6: Planning,assessment,and Adjustment

Question 1

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

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

Answer 1

B

Question 2

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

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

Answer 2

B

Question 3

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

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

Answer 3

A

Question 4

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

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

Question 5

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

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

Question 6

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

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

Question 7

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

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

Question 8

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

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

Question 9

Which of the following is NOT a budgeting factor?

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

Question 10

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

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

Question 11

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

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

Question 12

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

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

Question 13

Regression analysis is primarily used by marketers to ________.

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

Question 14

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

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

Question 15

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

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

Question 16

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

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

Question 17

A staircase analysis helps marketers with sales forecasts by ________.

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

Question 18

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

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

Question 19

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

Question 20

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

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

Question 21

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

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

Question 22

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

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

Question 23

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

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

Question 24

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

Question 25

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

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

Question 26

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

Question 27

Effective marketing objectives should be all of the following EXCEPT ________.

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

Question 28

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

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

Question 29

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

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

Question 30

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

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

Question 31

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

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

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

Question 34

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

Question 35

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

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

Question 36

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 37

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

A) How likely is it that you would recommend [company X] to a friend or colleague?
B) How strongly do you agree that [company X] deserves your loyalty?
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 38

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

Question 39

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

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

Question 40

How can staircase analysis improve the accuracy of sales forecasting?