Question 1

Internal marketing may involve market segmentation,product development,research,distribution,public relations,and sales promotion.

Accepted Answer

Internal marketing involves various activities including market segmentation, product development, research, distribution, public relations, and sales promotion to improve the company's internal communication and strengthen employee engagement.

Question 2

Marketing plans may be developed for strategic business units,product lines,individual products or brands,or specific markets.

Accepted Answer

Marketing plans can be developed for any of the mentioned options, including strategic business units, product lines, individual products or brands, and specific markets.

Question 3

Internal management refers to the coordination of internal exchanges between the organization and its employees to achieve successful external exchanges between the organization and its customers.

Accepted Answer

The answer of Internal management refers to the coordination of...

Question 4

Firms that truly adopt the marketing concept develop a distinct organizational culture based on a shared set of beliefs that makes customers' needs the pivotal point of the firm's decisions about strategy and operations.

Accepted Answer

The statement is true. Firms that adopt the marketing concept prioritize the needs of their customers in their decision-making processes and develop a culture that reflects this.

Question 5

The time lag between the performance of marketing activities and the effects of such activities limits a marketing manager's ability to measure the effectiveness of marketing activities.

Accepted Answer

This is true because it can take time for customers to respond to marketing activities and show changes in their behavior, such as increased purchases or brand loyalty. Therefore, it may be challenging for marketing managers to accurately measure the impact of their efforts in the short term.

Question 6

In a traditional organization,marketing decisions are generally centralized at the top levels of the organization.

Accepted Answer

In a traditional organization, the top management makes all the major marketing decisions and lower-level managers are mostly responsible for implementing those decisions. Decisions related to product development, pricing, promotion, and distribution are usually made at the top level of the organization.

Question 7

A large company that markets products throughout the nation could use a regional type of organization.

Accepted Answer

A regional type of organization would allow the company to have branches in different regions, thus making it easier to manage and market products to specific areas.

Question 8

Sometimes the information required to control marketing activities is available but too costly.

Accepted Answer

Sometimes information that could aid in controlling marketing activities is available but its cost is too high, making it difficult to justify the expense. In such cases, companies need to weigh the benefits against the costs to determine if the information's value is worth the investment.

Question 9

Product organization is appropriate for a firm that produces and markets a diverse set of products.

Accepted Answer

Product organization is a structure suitable for a company with various products. In this structure, teams are formed based on each product line or category, allowing managers to focus on the specific needs of each product and respond to consumer needs more effectively.

Question 10

The primary way to reduce the discrepancy between planned and actual performance is to rewrite the performance standard.

Accepted Answer

The primary way to reduce the discrepancy between planned and actual performance is to take corrective actions that address the causes of the deviations, rather than simply rewriting the performance standards. Rewriting the standards may be necessary in some situations, but it is not the primary solution.

Question 11

A functional organization works effectively for large,decentralized companies.

Accepted Answer

The answer of A functional organization works effectively for large,decentralized...

Question 12

The realized strategy is the one management decided upon during the planning phase and wants to implement.

Accepted Answer

The realized strategy is the strategy that is actually implemented and comes to fruition, which may differ from the intended strategy planned by management due to unforeseen circumstances or changes during implementation.

Question 13

Empowerment refers to the measurement and evaluation of the quality of an organization's goods,services,or processes as compared with the best-performing companies in the industry.

Accepted Answer

Empowerment refers to the process of enabling employees to take control of their work and make decisions within their areas of responsibility. It is not related to the measurement and evaluation of the quality of an organization's goods, services, or processes as compared with the best-performing companies in the industry, which is referred to as benchmarking.

Question 14

The concept of customer lifetime value includes only the customer's likelihood to engage in purchases.

Accepted Answer

While customer lifetime value does take into account a customer's purchasing behavior, it also includes factors such as the cost of acquiring and retaining the customer, the length of the customer's relationship with the company, and the potential for the customer to refer others to the company.

Question 15

A marketing unit can be organized according to functions,products,regions,or customers.

Accepted Answer

A marketing unit can be organized in various ways such as by functions (e.g. advertising, sales, market research), products (e.g. product-specific marketing teams), regions (e.g. marketing teams for different geographical areas), or customers (e.g. marketing teams for specific segments or demographics).

Question 16

Performance standards are established as part of the marketing control process.

Accepted Answer

Performance standards are an important component of the marketing control process as they provide a way to measure and evaluate the effectiveness of marketing activities and strategies. These standards can include metrics such as sales revenue, market share, customer retention rates, and advertising ROI, among others. By establishing performance standards, marketers can identify areas where they need to improve and make necessary adjustments to their marketing plans to achieve their objectives.

Question 17

The marketing control process does not monitor the activities of external sources of marketing assistance.

Accepted Answer

The marketing control process includes monitoring and evaluating the performance of external sources of marketing assistance, such as advertising agencies, public relations firms, and market research companies, in order to ensure that they are effectively contributing to the overall marketing strategy.

Question 18

Customer Relationship Management strives to build satisfying exchange relationships between buyers and sellers by gathering useful data at all customer-contact points.

Accepted Answer

Customer Relationship Management (CRM) aims to build strong relationships between buyers and sellers by collecting and analyzing data from all customer interactions. This data helps businesses understand their customers' needs and preferences, which in turn leads to improved customer satisfaction and loyalty.

Question 19

Organization by types of customers can work well for a firm that has several groups of customers with different needs and problems.

Accepted Answer

By organizing customers by types, the firm can tailor their marketing strategies and offerings to each group's specific needs and preferences. This allows for a more personalized approach and can result in higher customer satisfaction and loyalty.

Quiz 2: Developing and Implementing Marketing Strategies