Question 1

Which of the following could assume a role in the marketing strategy center?

Accepted Answer

All the roles mentioned can contribute to a marketing strategy center by providing insights and expertise relevant to their areas, which can influence marketing decisions and strategies.

Question 2

The major forms of marketing control are:

Accepted Answer

Marketing control involves both ensuring efficient allocation of marketing resources and comparing planned versus actual performance to make necessary adjustments.

Question 3

Which of the following are interrelated evaluations that are required to design a marketing strategy?

Accepted Answer

All the choices are interrelated evaluations necessary for designing a comprehensive marketing strategy, as they address budget allocation, resource distribution, and profitability analysis.

Question 4

The ____ of the Balanced Scorecard describes the expected outcomes of strategy, such as revenue growth or productivity improvements.

Accepted Answer

The financial perspective of the Balanced Scorecard focuses on the expected financial outcomes of a strategy, such as revenue growth or productivity improvements.

Question 5

_____ provides a visual representation of the cause-and-effect relationships among the components of a company's strategy.

Accepted Answer

A Strategy Map provides a visual representation of the cause-and-effect relationships among the components of a company's strategy.

Question 6

Research has shown that which of the following are important implementation skills for marketing managers?

Accepted Answer

All of the listed skills - organizing, allocating, and monitoring - are important for marketing managers to effectively implement strategies.

Question 7

The primary responsibility for strategic control typically lies with:

Accepted Answer

Top management is typically responsible for strategic control, as they are responsible for setting the overall direction and goals of the organization.

Question 8

In the balanced scorecard, the____________________perspective describes the business processes that have the greatest effect on the chosen strategy, such as customer relationship management, innovation management or supply-chain management.

Accepted Answer

The answer of In the balanced scorecard, the____________________perspective describes the...

Question 9

_____ represents the portion of total purchases in a product and service category that a customer makes from the firm.

Accepted Answer

Share-of-wallet represents the portion of total purchases in a product and service category that a customer makes from the firm.

Question 10

Using this approach, the costs of producing a printed circuit board are determined by first evaluating the activities required to produce the board and then costing out each of the activities. This describes:

Accepted Answer

An activity-based cost system assigns costs to products and services based on the activities required to produce them. This is in contrast to traditional cost accounting, which assigns costs based on direct labor and materials.

Question 11

The process that translates marketing plans into action assignments and ensures that such assignments are executed in a manner to accomplish a plan's defined objectives is called:

Accepted Answer

Marketing implementation is the process of turning marketing plans into action assignments and ensuring these actions are executed to achieve the plan's objectives.

Question 12

Examples of product measures for efficiency and effectiveness control include which of the following?

Accepted Answer

The answer of Examples of product measures for efficiency and...

Question 13

When using strategy maps, shareholder value can be created via:

Accepted Answer

The answer of When using strategy maps, shareholder value can...

Question 14

To be successful, successful business marketing managers:

Accepted Answer

Successful business marketing managers need to actively participate in the marketing strategy center and negotiate with other functions to ensure cohesive and effective marketing strategies.

Question 15

The primary levels of marketing control include:

Accepted Answer

The primary levels of marketing control include strategic control, annual plan control, efficiency and effectiveness control, and profitability control, covering all aspects of marketing performance.

Question 16

The goal of _____ is to describe where the firm is making or losing money in terms of the important segments of its business.

Accepted Answer

Profitability control aims to identify which segments of a business are profitable or not, helping firms understand where they are making or losing money.

Question 17

Which of the following are steps in the planning process that utilizes the Balanced Scorecard and a Strategy Map to build a tightly integrated marketing strategy?

Accepted Answer

The planning process using the Balanced Scorecard and a Strategy Map involves defining financial objectives, customer value propositions, and identifying critical strategic themes and internal processes, making all the choices relevant steps.

Question 18

Marketing managers who are flexible and intelligent in dealing with the firm's information and control systems are exhibiting good _____ skills.

Accepted Answer

The answer of Marketing managers who are flexible and intelligent...

Question 19

If marketing implementation is poor:

Accepted Answer

Poor marketing implementation can obscure the effectiveness of a strategy, making it difficult for management to assess its soundness and diagnose whether the failure is due to the strategy itself or the execution.

Question 20

The _____ of the Balanced Scorecard describes the human capital, information capital, and organizational capital that must be aligned with strategy.

Accepted Answer

The answer of The _____ of the Balanced Scorecard describes...

Quiz 15: Marketing Performance Measurement