Question 1

An advantage to having a company division manager conduct a marketing audit is his/her

Accepted Answer

A)  knowledge of the company and its environment. 
B)  impartial nature. 
C)  time availability for a prolonged audit. 
D)  concentration on this responsibility. 
A)  knowledge of the company and its environment. 
B)  impartial nature. 
C)  time availability for a prolonged audit. 
D)  concentration on this responsibility.

Question 2

Under what circumstances should a firm reappraise its organizational mission? Be complete in your answer.

Accepted Answer

A firm should reappraise its organizatio

Question 3

Natural account analysis allows firms to pinpoint the functional account expenses having higher than expected costs.

Accepted Answer

A) True 
 B)False

Question 4

It is good for a horizontal marketing audit to precede a vertical audit because a horizontal audit often reveals areas that require further investigation.

Accepted Answer

A) True 
 B)False

Question 5

Distinguish among marketing cost analysis, sales analysis, and the marketing audit.

Accepted Answer

Marketing cost analysis, sales analysis,

Question 6

Marketing cost analysis would enable a retailer to determine the profitability of its private-label business.

Accepted Answer

A) True 
 B)False

Question 7

The detailed study of sales data for the purpose of appraising the appropriateness and effectiveness of a marketing strategy involves

Accepted Answer

A)  the 80-20 principle. 
B)  the marketing audit. 
C)  marketing cost analysis. 
D)  sales analysis. 
A)  the 80-20 principle. 
B)  the marketing audit. 
C)  marketing cost analysis. 
D)  sales analysis.

Question 8

Which statement concerning the marketing audit is NOT correct?

Accepted Answer

A)  Audits should be conducted on a regular basis. 
B)  An audit should be performed at least annually. 
C)  An audit can be either horizontal or vertical. 
D)  The auditor should determine management's response to the audit. 
A)  Audits should be conducted on a regular basis. 
B)  An audit should be performed at least annually. 
C)  An audit can be either horizontal or vertical. 
D)  The auditor should determine management's response to the audit.

Question 9

Which form of marketing analysis compares actual revenues with planned revenues?

Accepted Answer

A)  Natural account analysis 
B)  Functional account analysis 
C)  Sales analysis 
D)  Classification analysis 
A)  Natural account analysis 
B)  Functional account analysis 
C)  Sales analysis 
D)  Classification analysis

Question 10

Which statement concerning common or separable costs is NOT correct?

Accepted Answer

A)  Common costs are related to overhead expenses. 
B)  A product category with a profit after reflecting its separable costs contributes to the firm's overhead costs. 
C)  Common costs are typically allocated. 
D)  Common costs can be eliminated if a category is discontinued. 
A)  Common costs are related to overhead expenses. 
B)  A product category with a profit after reflecting its separable costs contributes to the firm's overhead costs. 
C)  Common costs are typically allocated. 
D)  Common costs can be eliminated if a category is discontinued.

Question 11

In which part of a well-integrated marketing plan should a firm determine the product attributes most important to customers?

Accepted Answer

A)  Precisely defining its target market 
B)  Long-term competitive advantages 
C)  Organizational mission 
D)  Coordination among SBUs 
A)  Precisely defining its target market 
B)  Long-term competitive advantages 
C)  Organizational mission 
D)  Coordination among SBUs

Question 12

When related to consumer analysis, the 80-20 principle is most similar to what market segmentation concept?

Accepted Answer

A)  Benefit segmentation 
B)  The heavy-half theory 
C)  Differentiated marketing 
D)  Concentrated marketing 
A)  Benefit segmentation 
B)  The heavy-half theory 
C)  Differentiated marketing 
D)  Concentrated marketing

Question 13

For an organizational mission to be most effective,

Accepted Answer

A)  it should have a short-run focus. 
B)  it must be properly communicated to resellers, employees, and customers. 
C)  it should identify appropriate target markets. 
D)  a firm should always be responsive to competitors' tactical changes. 
A)  it should have a short-run focus. 
B)  it must be properly communicated to resellers, employees, and customers. 
C)  it should identify appropriate target markets. 
D)  a firm should always be responsive to competitors' tactical changes.

Question 14

What sales analysis data would a firm generally NOT receive from a sales invoice?

Accepted Answer

A)  The minimum order size that is profitable to the firm 
B)  The number of different items purchased at the same time 
C)  The geographic location of the purchase 
D)  Purchase terms 
A)  The minimum order size that is profitable to the firm 
B)  The number of different items purchased at the same time 
C)  The geographic location of the purchase 
D)  Purchase terms

Question 15

A jeweler categorizes sales by product category: clocks, watches, jewelry, and antiques. In conducting a sales analysis, each category represents a

Accepted Answer

A)  functional account. 
B)  natural account. 
C)  control unit. 
D)  stock-keeping unit. 
A)  functional account. 
B)  natural account. 
C)  control unit. 
D)  stock-keeping unit.

Question 16

Tag Heuer sees its long-term view as key to its success.

Accepted Answer

A) True 
 B)False

Question 17

After its patents expire, a firm is likely to lose a major long-term competitive advantage.

Accepted Answer

A) True 
 B)False

Question 18

Stone Container markets paperboard and packaging products, white paper and pulp products, and wood products. Each product category is used by different markets. It

Accepted Answer

A)  functions as a conglomerate. 
B)  has precise target markets. 
C)  has unclear market segments. 
D)  uses concentrated marketing. 
A)  functions as a conglomerate. 
B)  has precise target markets. 
C)  has unclear market segments. 
D)  uses concentrated marketing.

Question 19

A firm that does not anticipate and respond to future trends can fall victim to

Accepted Answer

A)  a sales orientation. 
B)  a short-sighted viewpoint. 
C)  poor benchmarking performance. 
D)  marketing myopia. 
A)  a sales orientation. 
B)  a short-sighted viewpoint. 
C)  poor benchmarking performance. 
D)  marketing myopia.

Question 20

The timeliness and accuracy of sales analysis data can be improved by

Accepted Answer

A)  allocating sales invoice data by territory. 
B)  summarizing functional cost figures. 
C)  using natural account information. 
D)  using computerized marking and inventory systems. 
A)  allocating sales invoice data by territory. 
B)  summarizing functional cost figures. 
C)  using natural account information. 
D)  using computerized marking and inventory systems.

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

An advantage to having a company division manager conduct a marketing audit is his/her

Under what circumstances should a firm reappraise its organizational mission? Be complete in your answer.

Natural account analysis allows firms to pinpoint the functional account expenses having higher than expected costs.

It is good for a horizontal marketing audit to precede a vertical audit because a horizontal audit often reveals areas that require further investigation.

Distinguish among marketing cost analysis, sales analysis, and the marketing audit.

Marketing cost analysis would enable a retailer to determine the profitability of its private-label business.

The detailed study of sales data for the purpose of appraising the appropriateness and effectiveness of a marketing strategy involves

Which statement concerning the marketing audit is NOT correct?

Which form of marketing analysis compares actual revenues with planned revenues?

Which statement concerning common or separable costs is NOT correct?

In which part of a well-integrated marketing plan should a firm determine the product attributes most important to customers?

When related to consumer analysis, the 80-20 principle is most similar to what market segmentation concept?

For an organizational mission to be most effective,

What sales analysis data would a firm generally NOT receive from a sales invoice?

A jeweler categorizes sales by product category: clocks, watches, jewelry, and antiques. In conducting a sales analysis, each category represents a

Tag Heuer sees its long-term view as key to its success.

After its patents expire, a firm is likely to lose a major long-term competitive advantage.

Stone Container markets paperboard and packaging products, white paper and pulp products, and wood products. Each product category is used by different markets. It

A firm that does not anticipate and respond to future trends can fall victim to

The timeliness and accuracy of sales analysis data can be improved by

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