Question 1

Marketing ROI measures the profits generated by investments in marketing activities.

Accepted Answer

Marketing ROI (return on investment) is a key performance indicator that measures the financial return generated by marketing investments. It compares the costs of marketing initiatives to the sales revenue or profits they generate, and helps organizations evaluate the effectiveness and efficiency of their marketing campaigns. A positive ROI indicates that a marketing activity has generated more money than it cost, while a negative ROI means that the activity has resulted in a loss. Therefore, measuring marketing ROI is essential for making informed decisions about resource allocation and optimizing marketing strategies.

Question 2

Nike's goal to increase sales of its running shoes by 25 percent during the first 6 months of the new fiscal year is an example of a ________.
A) differentiation objective
B) positioning objective
C) marketing objective
D) marketing strategy
E) target market strategy

Accepted Answer

The goal of increasing sales of running shoes is a specific objective within the scope of marketing, making option C the correct answer. Option A refers to distinguishing a product from its competitors, while option B refers to how a product is positioned in the market. Options D and E are more general terms that do not accurately describe Nike's goal.

Question 3

What are marketing dashboards? How do they benefit marketers?

Accepted Answer

The answer of What are marketing dashboards? How do they...

Question 4

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called ________.
A) marketing control
B) marketing implementation
C) market planning
D) marketing development
E) market targeting

Accepted Answer

Marketing control involves evaluating the effectiveness of marketing strategies and plans, comparing actual performance to planned performance, and taking corrective action if necessary to ensure that objectives are met. Marketing implementation refers to the process of executing marketing strategies and plans, market planning is the process of developing marketing strategies and plans, marketing development refers to activities involved in developing new products or markets, and market targeting involves selecting specific target markets to focus on with marketing activities.

Question 5

ToyTrain is a toy company that sells its products in most regions of the United States. It produces a variety of toys for children of every age group, from toddlers to preteens. What are ToyTrain's options for organizing its marketing department? Briefly describe each structure as it would apply to ToyTrain. Which organization do you think would be best for ToyTrain? Why?

Accepted Answer

The answer of ToyTrain is a toy company that sells...

Question 6

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing ________.
A) analysis
B) implementation
C) control
D) planning
E) design

Accepted Answer

Marketing implementation refers to the process of putting marketing plans into action to achieve the strategic marketing objectives. It involves executing various marketing activities such as advertising, sales promotion, public relations, and direct marketing, among others. Marketing analysis is the process of assessing market trends and identifying opportunities and threats, while marketing control refers to the process of monitoring and evaluating marketing performance. Marketing planning involves defining marketing goals and developing a plan to achieve them, while marketing design refers to the process of creating marketing materials such as ads or brochures.

Question 7

Raintree Developers has been measuring its marketing return on investment (or marketing ROI)to assess its marketing performance for the past few years. Explain why this method may not accurately reflect the company's performance and what Raintree can use to better estimate its performance.

Accepted Answer

The answer of Raintree Developers has been measuring its marketing...

Question 8

How do organizations carry out marketing control?

Accepted Answer

The answer of How do organizations carry out marketing control?...

Question 9

The most common form of marketing organization is the product management organization.

Accepted Answer

The most common form of marketing organization is the functional organization, where different marketing functions such as advertising, sales, and market research are managed separately.

Question 10

In a SWOT analysis, strengths and weaknesses refer to a firm's external environment, while opportunities and threats refer to the internal environment.

Accepted Answer

The statement is incorrect. Strengths and weaknesses refer to the internal environment of a firm, while opportunities and threats refer to the external environment.

Question 11

Kawaii Electronics sells air conditioning systems for office buildings. The company's marketing department is currently structured as a functional organization. However, Kawaii is considering changing the structure to either a product management or a customer management organization. In a brief essay, describe each type of organization: functional, product management, and customer management. What are the advantages and/or disadvantages of each structure for Kawaii? Which structure do you recommend for Kawaii? Why?

Accepted Answer

The answer of Kawaii Electronics sells air conditioning systems for...

Question 12

RTF Developers is a construction company with a presence in several countries. The company currently organizes its marketing department using a functional system of organization, but this seems inefficient. Explain why a geographic organization would benefit the company more than a functional organization.

Accepted Answer

The answer of RTF Developers is a construction company with...

Question 13

Which of the following best describes a marketing department with a functional organization?
A) A company creates large teams, or even whole divisions, to serve domestic and international markets.
B) Marketing managers are responsible for developing marketing strategies and plans for their specific markets or customers, and the company is organized around the needs of specific customer segments.
C) A product manager develops and implements a complete strategy and marketing program for a specific product or brand.
D) Sales and marketing people are assigned to specific countries, regions, and districts.
E) Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers.

Accepted Answer

A functional organization is one where different functions of the organization are headed by specialists. In this case, different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers. This structure allows for specialization and expertise in specific areas of marketing.

Question 14

Marketers must practice constant marketing control to ensure that objectives are attained.

Accepted Answer

Constant marketing control is essential to monitor the progress of marketing programs and take corrective actions to ensure that objectives are attained. Without continuous monitoring, marketers may overlook potential problems, miss targets, and fail to achieve desired outcomes. Therefore, marketers must practice constant marketing control to evaluate performance, track results, and make adjustments in strategies and tactics as necessary.

Question 15

A company can assess marketing ROI in terms of standard marketing performance measures, such as brand awareness, sales, or market share.

Accepted Answer

A company can use standard marketing performance measures to assess marketing ROI, such as brand awareness, sales, or market share. These measures help the company understand the effectiveness of their marketing campaigns and determine their return on investment.

Question 16

At John Deere, thousands of people both inside and outside the organization make decisions about target segments, branding, product development, pricing, promotion, and distribution. They talk with engineering about product design, advertising agencies about ad campaigns, and large retailers like Lowe's about quality offerings. This is an example of ________.
A) marketing planning
B) marketing standards
C) marketing control
D) marketing strategy
E) marketing implementation

Accepted Answer

This scenario exemplifies marketing implementation, which involves putting marketing strategies and plans into action to reach desired goals. The description covers various activities and collaborations across different departments and with external partners, all of which are key aspects of implementing a comprehensive marketing plan.

Question 17

Which of the following is true of marketing ROI?
A) Marketing ROI uses only those marketing factors that can be measured in dollars.
B) Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention.
C) Marketing ROI is easier to calculate than financial ROI.
D) Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share.
E) Marketing ROI measures the profits generated by investments in marketing activities.

Accepted Answer

Marketing ROI measures the profits generated by investments in marketing activities. It does not necessarily ignore other customer-centered measures, but the primary focus is on the financial returns on marketing investments. It is not necessarily easier to calculate than financial ROI, as it involves analyzing marketing costs and measuring the resulting financial impact. It can also be assessed in terms of standard marketing performance measures, as it looks at the financial impact of those measures.

Question 18

What is a SWOT analysis? Why is it required?

Accepted Answer

The answer of What is a SWOT analysis? Why is...

Question 19

Marketing dashboards are used to monitor strategic marketing performance.

Accepted Answer

Marketing dashboards are specifically designed to monitor and analyze the performance of marketing strategies and tactics. They provide real-time insights into key performance indicators (KPIs) such as website traffic, social media engagement, lead generation, and customer retention, among others. By keeping a close eye on the metrics that matter most to your business, marketing dashboards can help you make data-driven decisions, optimize your campaigns, and drive better results over time.

Question 20

Define marketing planning. Briefly outline what a company should cover in its marketing plan.

Accepted Answer

The answer of Define marketing planning. Briefly outline what a...

Quiz 2: Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Marketing ROI measures the profits generated by investments in marketing activities.

Nike's goal to increase sales of its running shoes by 25 percent during the first 6 months of the new fiscal year is an example of a ________.