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

The first step in marketing cost analysis is to

Marketing analysis is necessary if a firm wants to appraise performance, capitalize on strengths, minimize weaknesses, and plan for the future.

The major advantage of sales exception reporting is that reports

A long-term competitive advantage of a large firm can be based on low costs due to high market share and bargaining power.

The strictest form of benchmarking is assessing a firm's performance against the most innovative firms in other industries anywhere in the world.

A customer orientation is central to both customer satisfaction research and the marketing concept.

An overall marketing plan would be well integrated if a firm concentrates on short-term profits rather than long-term ones.

With what type of marketing plan analysis are natural accounts reclassified into functional accounts, which are then allocated by marketing classification?

A marketing audit may be carried out by company specialists, company division or department managers, or outside specialists.

Without proper sales analysis, the importance of certain market segments and territories may be overlooked.

When evaluating profitability by marketing classification, a firm should be careful about

Which of these expense categories may be viewed as both natural and functional?

Which type of marketing audit involves an in-depth analysis of one aspect of a firm's marketing strategy?

Small firms often seek competitive advantages on the basis of

In a total quality management approach to marketing, a firm should set its quality standards on the basis of

Which is NOT a sales exception report for a parts supplier?

According to the iceberg principle, superficial data are usually sufficient to make sound marketing decisions.

If 30 percent of a firm's customers account for 60 percent of annual sales, that firm is not affected by the 80-20 principle.

To be sustainable, a competitive advantage must be linked to a capability gap that competitors will have trouble closing (such as a patent or superior marketing skills).

Marketing cost analysis is used to