Question 1

Axiom Industries is a provider of computers to monitor nuclear reactors.It recently implemented a dashboard approach to marketing, but has been having some problems.Managers find that they are getting too much information back that they already know.What is Axiom doing wrong?

Accepted Answer

The answer of Axiom Industries is a provider of computers...

Question 2

As part of the monitoring aspect of Harold's marketing plan, he has to assign people to be responsible for monitoring the progress towards the goals and metrics that have been established.Why is this important?

Accepted Answer

The answer of As part of the monitoring aspect of...

Question 3

Lorena is the marketing manager for Up in Lights, a large-scale sign manufacturer.She is trying to determine the best forecast for her marketing plan.What questions does she need to answer in order to choose the best method?

Accepted Answer

The answer of Lorena is the marketing manager for Up...

Question 4

How do subjective forecasting methods differ from objective forecasting methods?

Accepted Answer

The answer of How do subjective forecasting methods differ from...

Question 5

Tobias has been assigned to do the forecasting for his firm for the first time.He is researching all of the available methods and is overwhelmed by the choices.He thinks the moving average method seems good, but he isn't sure he understands it completely.Explain the moving average concept to Tobias.

Accepted Answer

The answer of Tobias has been assigned to do the...

Question 6

Tanya is a senior in college and she sells jewelry that she makes through a website that she operates.She has started placing banner ads on other sites and sending e-mails to prospective customers, but she isn't sure how to determine her success rate.What should she use?

Accepted Answer

The answer of Tanya is a senior in college and...

Question 7

Chose one of the five benefits of a marketing dashboard, and explain its usefulness to a company.

Accepted Answer

The answer of Chose one of the five benefits of...

Question 8

Hendricks understands that customers are an important aspect to his firm's bottom-line, but he is very focused on profits.What concept would help Hendricks understand his need to switch from a focus on profits to a focus on the long-term health of his customer relationships?

Accepted Answer

The answer of Hendricks understands that customers are an important...

Question 9

As marketing manager, Suzette has worked hard over the past few months to be sure that the marketing department fully understands the marketing dashboard and how to use it.By educating only the marketing department, what has Suzette done that could impede the success of the dashboard?

Accepted Answer

The answer of As marketing manager, Suzette has worked hard...

Question 10

Jaylin is working on forecasting next year's sales for her mail order holiday wreath company.She simply states that next year's sales will be equal to this year's sales.Jaylin is using a simplistic form of which forecasting analysis?

Accepted Answer

The answer of Jaylin is working on forecasting next year's...

Question 11

Cole works for a multi-million dollar car manufacturing company in the United States.The fiscal year has just ended and he is expected to give a presentation at the next senior management meeting about the marketing efforts over the past year.What might Cole use to quantify the impact of the investment in marketing on the firm's success?

Accepted Answer

The answer of Cole works for a multi-million dollar car...

Question 12

Winston is confused as to how to judge how different promotions are affecting sales.His company offers discounts to the trade with the plan of encouraging them to offer their own promotions to the customers.How can Winston judge the success of these promotions and the mix of promotions?

Accepted Answer

The answer of Winston is confused as to how to...

Question 13

Helena works in the sales department of a telescope company.Her company's marketing department has just finished a marketing plan and has asked to meet with her to discuss her responsibilities.Helena doesn't understand what she has to do with a marketing plan and keeps rescheduling the meeting.Explain to Helena why she needs to meet with the marketing department.

Accepted Answer

The answer of Helena works in the sales department of...

Question 14

Kenneth is the marketing executive at a small casino in a resort town.He recognizes that the casino needs to increase sales, but he is unsure of how to do this.He is trying to decide between attracting his competition's customers and attracting new users.What metric could Kenneth use to help him with his decision?

Accepted Answer

The answer of Kenneth is the marketing executive at a...

Question 15

What does statistical demand analysis attempt to do?

Accepted Answer

The answer of What does statistical demand analysis attempt to...

Question 16

Bumblebee Baby has just released a new line of environmentally baby products.It would like to determine how the new line is penetrating the market, how should managers go about doing this?

Accepted Answer

The answer of Bumblebee Baby has just released a new...

Question 17

How does the exponential smoothing method differ from the moving average method?

Accepted Answer

The answer of How does the exponential smoothing method differ...

Question 18

A marketing audit should include assessments about ______________.
A) Customers
B) Suppliers
C) Employees
D) Competition
E) All of the above

Accepted Answer

A marketing audit should assess all aspects related to the company's marketing function, including customers, suppliers, employees, and competition. It is important to have a comprehensive understanding of all factors that impact the company's marketing strategy and performance. Therefore, option E is the best answer.

Question 19

A marketing audit may be needed in any of the following situations except ____________.
A) The firm is about to undergo a major rebranding initiative.
B) Evidence exists of significant marketing inefficiencies and poor ROMI and other metrics
C) A new creative agency is coming onboard.
D) A recent change has occurred in top management.
E) A routine basis

Accepted Answer

A marketing audit is typically conducted in response to specific situations or challenges, not on a routine basis.

Question 20

Forester Outwear is planning on releasing a new tent for the camping season.How would it use cannibalization rates?

Accepted Answer

The answer of Forester Outwear is planning on releasing a...

Quiz 19: The Marketing Dashboard: Metrics for Measuring Marketing Performance