Question 1

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 these specific areas within a business.

Question 2

A marketing unit can be organized according to functions, products, or regions, but not by customers.

Accepted Answer

A marketing unit can be organized according to customers, as it is a common practice in customer-centric companies to organize their marketing departments based on specific customer segments or personas.

Question 3

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

Accepted Answer

In a traditional organization, marketing decisions are usually made by top-level executives and are centralized. This is because such organizations have a hierarchical structure, with a clear chain of command, and decision-making authority is concentrated at the top. However, in modern organizations that are more flat and decentralized, marketing decisions may be made by a team or committee, involving players across levels and functions.

Question 4

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

Accepted Answer

Organizing by types of customers allows a firm to tailor its products and services to each group's unique needs and problems. This can lead to more effective marketing strategies, improved customer satisfaction, and ultimately, increased sales and profitability.

Question 5

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

Accepted Answer

Performance standards are a crucial component of the marketing control process as they allow businesses to evaluate and measure the success of their marketing campaigns and adjust their strategies accordingly.

Question 6

Marketing planning and implementation are inextricably linked in successful businesses.

Accepted Answer

Marketing planning sets the direction and goals for a business's marketing efforts, while implementation involves executing specific tactics and strategies to achieve those goals. Both are necessary for a cohesive and effective marketing strategy.

Question 7

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

The time lag between the performance of marketing activities and the effects of such activities is known as the marketing lag. It can be difficult for marketing managers to measure the effectiveness of their activities because they may not see the results of their efforts for a period of time.

Question 8

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

Accepted Answer

A regional organization structure allows for the company to have a presence and focus in each region of the country, allowing for better understanding of local markets and customers. This can be especially beneficial for a large company with a wide-ranging product line.

Question 9

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

This statement accurately describes the key attributes of a firm that has successfully adopted the marketing concept.

Question 10

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

Accepted Answer

The marketing control process does monitor the activities of external sources of marketing assistance as they are part of the overall marketing strategy and can impact the effectiveness of the marketing efforts.

Question 11

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

Accepted Answer

In some cases, the data or information required to control marketing activities may be available, but the cost of obtaining or analyzing it may be too high. This can be a barrier to effective marketing decision making.

Question 12

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 analyze the reasons for the variance and take corrective actions, not to simply rewrite the performance standard. Rewriting the performance standard may be necessary in some cases, but it should not be the primary way to address performance discrepancies.

Question 13

A functional organization works effectively for large, decentralized companies.

Accepted Answer

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

Quiz 2: Planning Implementing and Evaluating Marketing Strategies