Question 1

The____________________coupled with the balanced scorecard provides a valuable framework by describing the strategy,detailing objectives for the processes that create value and the organizational assets needed to support them.

Accepted Answer

The answer of The____________________coupled with the balanced scorecard provides a...

Question 2

Middle management typically has the primary responsibility for efficiency and effectiveness control.

Accepted Answer

Middle management is responsible for ensuring that processes and systems are in place to achieve organizational goals efficiently and effectively. They monitor performance metrics and make adjustments as needed to improve outcomes. Top management is responsible for setting overall strategy and direction, while lower-level employees are responsible for implementing specific tasks and activities.

Question 3

The strategy map provides a framework for highlighting the interdisciplinary role of marketing strategy and for exploring key implementation requirements.

Accepted Answer

The answer of The strategy map provides a framework for...

Question 4

The Balanced Scorecard measures performance from a learning and growth perspective.

Accepted Answer

The Balanced Scorecard measures performance from four perspectives: financial, customer, internal processes, and learning and growth.

Question 5

The strategy map,when coupled with the measures and targets from the balanced scorecard,provides a valuable framework for the strategist.

Accepted Answer

The strategy map and the balanced scorecard are complementary tools that together provide a comprehensive framework for strategic planning and execution. The strategy map helps to visually communicate the organization's objectives and how they are interrelated, while the balanced scorecard provides a set of measures and targets to track progress towards those objectives. This combination of tools is valuable for strategists because it helps to align organizational goals with specific actions and provides a clear framework for tracking progress and making strategic decisions.

Question 6

Strategic____________________focuses on assessing whether the strategy is being implemented as planned and whether it produces the intended results.

Accepted Answer

The answer of Strategic____________________focuses on assessing whether the strategy is...

Question 7

In regard to profitability control,a segment can be a channel structure.

Accepted Answer

Segments can be defined based on various criteria, including channel structures such as distribution channels, sales channels, or marketing channels, to manage and monitor profitability.

Question 8

For customers with a transactional focus,business marketers should discontinue the use of expensive customer databases and set revenue targets and profit goals.

Accepted Answer

This statement is incorrect. Having a customer database is important for understanding transactional behavior and targeting specific customers with personalized offers. In addition, setting revenue targets and profit goals is important for overall business success, regardless of customer focus.

Question 9

Good implementers struggle and wrestle with their markets and businesses until they can simply and powerfully express the "back of the envelope ratios necessary to run the business,regardless of formal control system inadequacies."

Accepted Answer

Good implementers are able to simplify and understand the key factors necessary to run the business, regardless of any formal control system limitations. They are able to express these key ratios in a clear and concise manner, allowing for effective decision-making.

Question 10

Strategy maps can be used to align internal processes to support different marketing strategies.

Accepted Answer

Strategy maps provide a visual representation of how different internal processes and resources can be aligned to support an organization's overall strategy, including marketing strategies.

Question 11

The second step of the strategy process is defining the customer____________________for target customer segments,in effort to generate revenue from existing customers.

Accepted Answer

The answer of The second step of the strategy process...

Question 12

In annual plan control,the objectives specified in the annual plan become the performance standards that are compared to actual results.

Accepted Answer

In annual plan control, the objectives set in the annual plan act as the benchmark against which the actual performance is measured to determine whether the goals have been achieved or not. Hence, the statement is true.

Question 13

Important implementation skills for marketers include interacting,allocating,and monitoring.

Accepted Answer

Interacting with customers, allocating resources effectively, and monitoring campaign progress are essential implementation skills for marketers.

Question 14

The efficiency of a marketing operation can be assessed via expense-to-sales ratios.

Accepted Answer

Expense-to-sales ratios compare the cost of marketing expenses to the revenue generated by those marketing efforts, providing an indication of the effectiveness and efficiency of the marketing operation.

Question 15

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 business...

Question 16

Market share analysis is an attempt to determine why actual sales varied from planned sales.

Accepted Answer

The answer of Market share analysis is an attempt to...

Question 17

Marketing control is a process whereby management generates information on performance,such as efficient allocation of marketing effort.

Accepted Answer

Marketing control is indeed a process whereby management generates information on performance, including but not limited to the efficient allocation of marketing effort. Through marketing control, management is able to monitor, evaluate, and adjust marketing strategies and tactics to achieve desired outcomes and improve overall performance.

Question 18

Efficiency and effectiveness control is the primary responsibility of____________________management.

Accepted Answer

The answer of Efficiency and effectiveness control is the primary...

Question 19

Relating sales revenues and marketing costs to market segments improves decision making.

Accepted Answer

By analyzing sales revenues and marketing costs in relation to market segments, businesses can identify which segments are most profitable and which may require more investment. This allows for more informed decision-making on resource allocation and targeting of marketing efforts.

Question 20

The portion of the total purchases in a product and service category that a customer makes from the firm is known as ____________________.

Accepted Answer

The answer of The portion of the total purchases in...

Quiz 15: Marketing Performance Measurement