Exam 22: Pulling It All Together: Integrating and Analyzing the Marketing Plan

Which of these techniques best enables a firm to evaluate the validity of its credit analysis system by highlighting slow paying accounts?

In benchmarking, a firm seeks to increase supplier and distributor support.

A broad marketing plan should guide a company's efforts and be fine-tuned regularly; the basic plan should remain in effect for a number of years.

Via what type of marketing plan analysis would a firm be best able to evaluate order-processing and order-generating expenses?

Marketing myopia is a warning sign of a poorly developed marketing plan.

A firm does not anticipate and respond to future trends. Which analysis technique would most likely detect this?

According to the 80-20 principle, a large proportion of total sales or profit is likely to come from a relatively small proportion of customers, products, or territories.

While a firm's marketing plan must have a certain degree of stability over time, it should adapt if a leading competitor makes a major change in its marketing strategy which would adversely affect the company (if not addressed).

A key step in marketing cost analysis is converting functional accounts into natural accounts.

Analyze the differences in a benchmarking program aimed at novices, journeymen, and masters.

When a firm is very profitable, it is likely that all its products, distribution methods, and so on are equally cost effective.

Describe the steps in conducting a marketing cost analysis. What are some problems that might arise in doing such an analysis?

A firm comprehensively and regularly studies its new-product planning efforts, product-management organization structure, branding philosophy, and product deletion decisions. It is involved with a

Which statement concerning the defining of a target market is correct?

To properly compare its own performance over several time periods, a company needs a(n)

A company's chances of future success will be improved if it develops contingency plans that will be implemented if its most desirable plan proves to be unrealistic or not worthwhile.

Marketing plan analysis can be used when developing and modifying marketing plans, as well as when evaluating them.

A marketing plan with the proper level of stability over time will

Control units

Describe five key principles in the development and implementation of an effective benchmarking program.