Question 1

The four marketing management functions are analysis,planning,implementation,and control.

Accepted Answer

This statement accurately describes the four key functions of marketing management. Analysis involves gathering and interpreting data about the market and customers, planning outlines strategies and tactics to achieve objectives, implementation puts plans into action, and control tracks progress and makes adjustments as needed.

Question 2

Beyond standard performance measures,marketers are using customer-centred measures of marketing impact,such as customer acquisition,customer retention,customer lifetime value,and customer equity.

Accepted Answer

This statement is true. Marketers are increasingly focusing on customer-centred measures to evaluate the impact of their marketing efforts, including customer acquisition, retention, lifetime value, and equity. These measures are believed to provide a more accurate and long-term perspective on the value of marketing activities than traditional performance measures.

Question 3

The four Ps concept takes the seller's view of the market.

Accepted Answer

The four Ps concept (product, price, promotion, and place) focuses on the seller's view of the market and the marketing mix they use to influence customer behavior.

Question 4

The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities is called ___________ .

Accepted Answer

The answer of The process of developing and maintaining a...

Question 5

Which of the following is the first step in strategic planning?
A)	Set objectives and goals.
B)	Develop the business portfolio.
C)	Define the company mission.
D)	Plan marketing strategies.
E)	Identify threats and weaknesses.

Accepted Answer

Defining the company mission is the first step in strategic planning as it sets the foundation and direction for all subsequent planning activities, including setting objectives, developing strategies, and identifying strengths and weaknesses.

Question 6

A company that sells across the country or internationally often uses a product management organization.

Accepted Answer

The answer of A company that sells across the country...

Question 7

The ___________ involves adapting the firm to take advantage of opportunities in its constantly changing environment

Accepted Answer

The answer of The ___________ involves adapting the firm to...

Question 8

In measuring financial ROI,both the R and the I are uniformly measured in dollars.But there is as of yet no consistent definition of marketing ROI.

Accepted Answer

Measuring marketing ROI is not as straightforward as measuring financial ROI, and there is no standardized definition of marketing ROI.

Question 9

When a company positions its product,it should first identify possible customer value differences within a market segment that could be the basis of a competitive advantage for the product.

Accepted Answer

Before positioning a product, it is important for a company to identify possible customer value differences within a market segment that could give them a competitive edge over their competitors. This is because the company needs to understand what will make their product stand out and appeal to their target customers.

Question 10

One valid criticism of the four Ps concept is that services are not considered.

Accepted Answer

The answer of One valid criticism of the four Ps...

Question 11

Marketing dashboards are meaningful sets of marketing strategies measures in a single display used to monitor strategic marketing performance.

Accepted Answer

Marketing dashboards are tools that display key marketing metrics and indicators in a single dashboard, allowing for monitoring and analysis of marketing performance, not sets of strategies.

Question 12

Companies with many very different products or brands often create a market or customer management organization.

Accepted Answer

The answer of Companies with many very different products or...

Question 13

The chief marketing officer (or CMO)heads up the company's entire marketing operation and represents marketing on the company's top management team.

Accepted Answer

The chief marketing officer (CMO) is responsible for overseeing and leading the entire marketing operation of a company and typically sits on the executive or senior management team.

Question 14

A company that sells one product line to many different types of markets and customers who have different needs and preferences often uses a geographic organization.

Accepted Answer

A company that sells one product line to many different types of markets and customers often uses a market segmentation approach to organization, not necessarily geographic, to tailor its marketing efforts to the specific needs and preferences of different customer segments. Geographic organization is more about structuring an organization based on geographical regions.

Question 15

The marketing mix consists of product,price,place,positioning,and promotion.

Accepted Answer

The traditional marketing mix consists of Product, Price, Place, and Promotion, often referred to as the 4Ps. Positioning is a separate concept related to market strategy.

Question 16

A brief summary of the main goals and recommendations of the plan belongs in the Objectives and Issues section of a marketing plan.

Accepted Answer

The Objectives and Issues section of a marketing plan typically outlines specific goals the company aims to achieve and identifies any potential challenges that could impede those goals, rather than providing a summary of the plan's main goals and recommendations. Summaries of main goals and recommendations are often found in the executive summary or the strategy sections.

Question 17

Which of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment?
A)	Long-range planning
B)	Short-range planning
C)	Media planning
D)	Strategic planning
E)	Annual planning

Accepted Answer

Strategic planning involves adapting a firm to take advantage of opportunities in its constantly changing environment. It is a process that defines the strategy or direction, and allocates resources to pursue this strategy, including its capital and people.

Question 18

Guided by marketing strategy,the company designs a marketing mix made up of factors under its control: product,price,place,and promotion.

Accepted Answer

This statement is true.

Question 19

Marketing control means measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

Accepted Answer

Marketing control is the process of monitoring and reviewing marketing activities to ensure that they are effective in achieving the desired goals and objectives. It involves measuring the performance of marketing strategies and plans and taking corrective action when necessary to ensure that goals are met. Therefore, the statement is true.

Question 20

NASCAR is the number-one televised motorsport in Canada.It is a premier marketing organization that knows how to create customer value that translates into deep and lasting ________.

Accepted Answer

The answer of NASCAR is the number-one televised motorsport in...

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