Exam 20: Managing Marketings Link With Other Functional Areas

When a firm is a virtual corporation, it acts primarily as a producer--and leaves it to another firm to coordinate functions such as marketing, finance, and human resources.

With the mass-customization approach, a firm tries to find a low-cost way to give individual customers more or better choices.

A company with a profitable strategy has its own internal source of funds.

Working capital may be used to pay for:

A marketing strategy that is focused on a real breakthrough opportunity will usually be successful even if there are obstacles in getting help from other functional areas in the firm.

Marketing cost analysis starts with the assumption that:

Which of the following is NOT a FUNCTIONAL cost account?

While excess capacity can be costly, it can be a part of a sensible plan for preventing lost sales if demand suddenly picks up.

A marketing plan for a new strategy needs to take into consideration the time--and effort--that will be required to get people up to speed on the new jobs they will be expected to do.

Regarding marketing cost analysis, which of the following statements is TRUE?

With externally generated funding a firm's marketing program may be expected to "pay its own way."

Managed Care Concepts facilitates the processing of medical claims for organizations, such as government agencies, whose employees are injured while performing their jobs. The company does not actually process the claims. Instead, it coordinates the work of customer service personnel, nurses, physicians, case managers, and pharmacists who work for other companies and have some role to play in the processing of an injured worker's claim. Managed Care Concepts relieves its clients of the burden of processing their own injured worker claims and can usually save the organizations a significant amount of money. Managed Care Concepts operates like a:

Service firms are finding ways to reduce the cost of some of their production work with _____, using telecommunications to move service operations to places where there are pools of skilled workers.

Which of the following observations is true?

Virtual corporations

The problems of matching supply and demand occur less frequently when a marketing plan calls for:

Task transfer is using telecommunications to move service operations to places where there are pools of skilled workers.

The first step in marketing cost analysis is to reclassify all the dollar cost entries in the natural accounts into functional cost accounts.

Concerns about production capacity apply to physical goods but they are not relevant when the product is a service.

____ refers to a share in the ownership of a company.