Question 1

Return on marketing investment (or marketing ROI)is best defined as a measure of ________.

Accepted Answer

Return on marketing investment (ROI) specifically measures the profits that can be attributed to investments in marketing activities. It is used to evaluate the effectiveness of marketing campaigns and determine which tactics provide the greatest return.

Question 2

________ indicate how the marketing plan will be monitored.

Accepted Answer

The answer of ________ indicate how the marketing plan will...

Question 3

A broad mission leads to a hierarchy of objectives,including ________ objectives and ________ objectives.

Accepted Answer

The answer of A broad mission leads to a hierarchy...

Question 4

Through annual marketing planning,the company decides what it wants to do with each business unit.

Accepted Answer

The answer of Through annual marketing planning,the company decides what...

Question 5

Companies with many different products or brands often create a ________ management organisation.

Accepted Answer

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

Question 6

For companies that sell one product line to many different types of markets with different needs and preferences,a ________ management organisation is often used.

Accepted Answer

The answer of For companies that sell one product line...

Question 7

Which of the following would NOT be a useful tool for determining marketing ROI?

Accepted Answer

A SWOT analysis is a useful tool for examining a company's internal and external strengths, weaknesses, opportunities, and threats, but it is not specifically designed to determine marketing ROI. The other options (A, B, C, and E) are all useful tools for analyzing marketing ROI, with a marketing dashboard providing real-time data on key metrics, brand awareness measuring the level of recognition a brand has in the market, market share assessing the company's position in the market compared to competitors, and customer lifetime value calculating the projected value of a customer over their entire relationship with the company.

Question 8

'Doing the right things' (strategy)is more important than 'doing things right' (implementation).

Accepted Answer

The answer of 'Doing the right things' (strategy)is more important...

Question 9

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

Accepted Answer

This statement is true. Strengths and weaknesses are internal factors that a company has control over, while opportunities and threats are external factors that the company must respond to. SWOT analysis is a tool that helps companies identify these factors and develop strategies based on them.

Question 10

Marketers find it very difficult to develop appropriate metrics for return on marketing investment (marketing ROI).

Accepted Answer

Marketers face significant challenges in accurately measuring the impact of their marketing efforts and determining the ROI of their campaigns. There are various factors that contribute to this difficulty, including the complex nature of marketing activities, the range of channels and touchpoints involved, and the limitations of available data and tools. Despite ongoing efforts to refine marketing measurement and analytics practices, achieving accurate and reliable marketing ROI remains a significant challenge for many organizations.

Question 11

The ________ program presents the special marketing programs designed to achieve the business objectives.

Accepted Answer

The answer of The ________ program presents the special marketing...

Question 12

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

Accepted Answer

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

Question 13

When an organisation has specialists heading different activities,such as a sales manager,an advertising manager,a marketing research manager,etc. ,it is said to be a ________ organisation.

Accepted Answer

The answer of When an organisation has specialists heading different...

Question 14

Which of the following is NOT a customer-centred measure of marketing impact?

Accepted Answer

Customer management is not a measure of marketing impact but rather a broad strategy or approach to handling customer relationships and needs. Customer acquisition, customer equity, customer retention, and customer lifetime value are specific metrics or outcomes that can be measured to assess the impact of marketing efforts on customer behavior and value to the organization.

Question 15

The final step in the marketing control process is taking corrective action to close any gaps between goals and performance.

Accepted Answer

The statement is correct. The final step in the marketing control process is to identify any gaps between the goals set and the actual performance, and then take corrective action to bridge these gaps and improve performance.

Question 16

The main components of a marketing plan are the executive summary,current marketing situation,threats and opportunities,objectives and issues,marketing strategies,action programs,budgets and controls.

Accepted Answer

This is correct as the executive summary, current marketing situation, threats and opportunities, objectives and issues, marketing strategies, action programs, budgets, and controls are all key sections that make up a comprehensive marketing plan.

Question 17

Marketing ________ is the process that turns marketing strategies into marketing actions in order to accomplish strategic marketing objectives.

Accepted Answer

The answer of Marketing ________ is the process that turns...

Question 18

________ organisation allows salespeople to settle into a territory,get to know their customers and their specific needs,and work with a minimum of travel time and cost.

Accepted Answer

The answer of ________ organisation allows salespeople to settle into...

Question 19

Marketing strategy consists of specific strategies for ________ markets,marketing mix and marketing expenditure level.

Accepted Answer

The answer of Marketing strategy consists of specific strategies for...

Question 20

A simple measure of return on marketing investment (or marketing ROI)is ________.

Accepted Answer

Return on marketing investment can be calculated by dividing the net return (profit or revenue) generated by a marketing campaign by the costs of that campaign. This provides a simple ratio that can be used to determine the effectiveness of marketing spending. Option B appears inaccurate, as it refers to overall business investments rather than marketing investments specifically. Option C may be appropriate for evaluating the effectiveness of advertising and promotion, but may not capture the full range of marketing activities. Option D is also a valid measure of marketing ROI, but may be more difficult to calculate and attribute directly to marketing efforts. Option E is not true, as there are various methods for measuring marketing ROI, although it can be challenging to accurately quantify the impact of marketing on business results.

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

Return on marketing investment (or marketing ROI) is best defined as a measure of ________.