14 Aug Question 1 1. _____ is the feedback process that helps the marketing manager le

Question 1
1.
_____
is the feedback process that helps the marketing manager learn how ongoing
plans are working and how to plan for the future.
Answer

Design

Planning

Implementation

Control

Benchmarking

5 points

Question 2
1.
Top
executives of a health maintenance organization (HMO) were discussing a
proposal to start providing each patient with a short customer satisfaction
survey that would be on a card given to the patient when he/she left one of the
HMO’s clinics. All the patient had to do was to complete the survey items and
drop the card in a mailbox; the HMO would pay the return postage. After several
minutes, one of the executives said, “I don’t like this idea at all,
because the only people who will respond to the survey are people who want to
complain about something.” Apparently, this executive doesn’t understand
that:
Answer

Most
companies don’t pay any attention to customer surveys anyway.

Complaints
can bring implementation problems to light so that the company can fix them.

No
one answers surveys that are sent through the mail.

Implementation
problems that are unresolved often result in dissatisfied patients who may
choose other health care providers.

Both
B and D.

5 points

Question 3
1.
Marketing
audits consider future marketing plans, so they are not concerned with a
company’s current marketing strategies.
Answer
True
False
5 points

Question 4
1.
Cost
analysis and performance analysis are the same thing.
Answer
True
False
5 points

Question 5
1.
Doug
Selkirk is a sales manager for IBM. He has asked his assistant to prepare an
analysis that shows what percent over or under quota each sales rep was during
the last year. This is an example of
Answer

using
natural accounts.

the
contribution-margin approach.

sales
analysis.

target
market analysis.

performance
analysis.

5 points

Question 6
1.
Avon,
Inc., has analyzed the market potential in its territories and set sales quotas
for its salespeople. It is now in a good position to develop ______________
indexes at the end of the year.
Answer

MIS

performance

PERT

sales

contribution

5 points

Question 7
1.
A _____
is a number like a baseball batting average that shows the relation of one
value to another.
Answer

benchmarking
goal

performance
index

performance
quota

benchmark
ratio

standard
quota

5 points

Question 8
1.
A
systematic, critical, and unbiased review and appraisal of the basic objectives
and policies of the marketing function–and of the organization, methods,
procedures, and people employed to implement the policies–is called a:
Answer

MIS
report.

marketing
audit.

management
review.

marketing
information system.

marketing
analysis survey.

5 points

Question 9
1.
When
the “full-cost approach” to marketing cost analysis is used,
allocating fixed costs on the basis of sales:
Answer

may
make low-volume customers appear more profitable than they are.

increases
each customer’s contribution margin.

decreases
the profitability of the whole business.

makes
large-volume customers appear more profitable that they are.

increases
the profitability of the whole business.

5 points

Question 10
1.
A
marketing audit should help determine if:
Answer

current
marketing strategies are good ones.

the
company’s marketing objectives are reasonable.

implementation
of a marketing program was effective.

All
of the above.

None
of the above.

5 points

Question 11
1.
In a
marketing audit, the auditor evaluates the plans being implemented, but not the
quality of the effort.
Answer
True
False
5 points

Question 12
1.
Marketing
cost analysis shows that one of Buildco, Inc.’s customers is unprofitable, so
Buildco should:
Answer

refuse
to sell to that customer.

try
to determine why this customer is unprofitable.

drop
the customer and shift all fixed costs to the other customers.

assign
a new salesperson to that account.

immediately
develop a plan to sell more to that customer.

5 points

Question 13
1.
A sales
manager has just discovered that one of his sales reps has sales about 20
percent below his quota. The sales manager should conclude:
Answer

that
the sales rep’s quota was set too high.

that
the sales rep lacks the desire to succeed.

that
“all is well” because other salespeople had sales that were at
least 20 percent over their quotas.

that
the salesperson’s performance index is 4 (i.e., 80:20).

nothing
thus far–because of the “iceberg principle.”

5 points

Question 14
1.
The
____ approach shows operating managers and salespeople what they’ve actually
contributed to covering general overhead and profit.
Answer

net
margin

full-cost

marketing
overhead

contribution
margin

net
profit

5 points

Question 15
1.
A
marketing audit is necessary because:
Answer

it
is a standard practice adopted by all companies worldwide.

managers
may pursue certain strategies blindly, when other strategies might be more
effective.

regulators
require marketing audits at the same time as accounting audits.

all
of the above.

5 points

Question 16
1.
Performance
analysis:
Answer

is
based on qualitative factors, as contrasted with sales and cost analysis
which are based on quantitative data.

is
most useful in situations where the iceberg principal is not likely to be a
concern.

indicates
why problems have occurred and how to solve them.

may
be based on several different performance indexes.

All
of the above are true.

5 points

Question 17
1.
The
“contribution-margin approach” to marketing cost analysis:
Answer

Focuses
attention on the allocation of fixed costs.

Is
mainly concerned with the allocation of variable costs.

Always
leads to the same conclusions as the “full-cost approach.”

Is
always preferred to the “full-cost approach.”

None
of the above.

5 points

Question 18
1.
Detailed
sales analysis is:
Answer

not
worth the cost unless the firm is very unprofitable.

based
on the information available on traditional accounting reports.

important
for producers, but usually not that valuable for retailers.

most
useful when it analyzes costs from different possible target markets.

None
of the above is true.

5 points

Question 19
1.
Compared
with sales analysis, PERFORMANCE ANALYSIS:
Answer

shows
which customers should be dropped.

looks
for exceptions or variations from planned performance.

does
not do as much comparing against standards.

shows
how to improve performance.

All
of the above.

5 points

Question 20
1.
A _____
is a systematic, critical, and unbiased review and appraisal of the basic
objectives and policies of the marketing function and of the organization,
methods, procedures, and people employed to implement the policies.
Answer

benchmarking
study

marketing
audit

sales
analysis

full-cost
assessment

marketing
strategy survey

Question 11. _____
is the feedback process that helps the marketing manager learn how ongoing
plans are working and how to plan for the future.AnswerDesignPlanningImplementationControlBenchmarking5 points
Question 21. Top
executives of a health maintenance organization (HMO) were discussing a
proposal to start providing each patient with a short customer satisfaction
survey that would be on a card given to the patient when he/she left one of the
HMO’s clinics. All the patient had to do was to complete the survey items and
drop the card in a mailbox; the HMO would pay the return postage. After several
minutes, one of the executives said, “I don’t like this idea at all,
because the only people who will respond to the survey are people who want to
complain about something.” Apparently, this executive doesn’t understand
that:AnswerMost
companies don’t pay any attention to customer surveys anyway.Complaints
can bring implementation problems to light so that the company can fix them.No
one answers surveys that are sent through the mail.Implementation
problems that are unresolved often result in dissatisfied patients who may
choose other health care providers.Both
B and D.5 points
Question 31. Marketing
audits consider future marketing plans, so they are not concerned with a
company’s current marketing strategies.AnswerTrueFalse5 points
Question 41. Cost
analysis and performance analysis are the same thing.AnswerTrueFalse5 points
Question 51. Doug
Selkirk is a sales manager for IBM. He has asked his assistant to prepare an
analysis that shows what percent over or under quota each sales rep was during
the last year. This is an example ofAnswerusing
natural accounts.the
contribution-margin approach.sales
analysis.target
market analysis.performance
analysis.5 points
Question 61. Avon,
Inc., has analyzed the market potential in its territories and set sales quotas
for its salespeople. It is now in a good position to develop ______________
indexes at the end of the year.AnswerMISperformancePERTsalescontribution5 points
Question 71. A _____
is a number like a baseball batting average that shows the relation of one
value to another.Answerbenchmarking
goalperformance
indexperformance
quotabenchmark
ratiostandard
quota5 points
Question 81. A
systematic, critical, and unbiased review and appraisal of the basic objectives
and policies of the marketing function–and of the organization, methods,
procedures, and people employed to implement the policies–is called a:AnswerMIS
report.marketing
audit.management
review.marketing
information system.marketing
analysis survey.5 points
Question 91. When
the “full-cost approach” to marketing cost analysis is used,
allocating fixed costs on the basis of sales:Answermay
make low-volume customers appear more profitable than they are.increases
each customer’s contribution margin.decreases
the profitability of the whole business.makes
large-volume customers appear more profitable that they are.increases
the profitability of the whole business.5 points
Question 101. A
marketing audit should help determine if:Answercurrent
marketing strategies are good ones.the
company’s marketing objectives are reasonable.implementation
of a marketing program was effective.All
of the above.None
of the above.5 points
Question 111. In a
marketing audit, the auditor evaluates the plans being implemented, but not the
quality of the effort.AnswerTrueFalse5 points
Question 121. Marketing
cost analysis shows that one of Buildco, Inc.’s customers is unprofitable, so
Buildco should:Answerrefuse
to sell to that customer.try
to determine why this customer is unprofitable.drop
the customer and shift all fixed costs to the other customers.assign
a new salesperson to that account.immediately
develop a plan to sell more to that customer.5 points
Question 131. A sales
manager has just discovered that one of his sales reps has sales about 20
percent below his quota. The sales manager should conclude:Answerthat
the sales rep’s quota was set too high.that
the sales rep lacks the desire to succeed.that
“all is well” because other salespeople had sales that were at
least 20 percent over their quotas.that
the salesperson’s performance index is 4 (i.e., 80:20).nothing
thus far–because of the “iceberg principle.”5 points
Question 141. The
____ approach shows operating managers and salespeople what they’ve actually
contributed to covering general overhead and profit.Answernet
marginfull-costmarketing
overheadcontribution
marginnet
profit5 points
Question 151. A
marketing audit is necessary because:Answerit
is a standard practice adopted by all companies worldwide.managers
may pursue certain strategies blindly, when other strategies might be more
effective.regulators
require marketing audits at the same time as accounting audits.all
of the above.5 points
Question 161. Performance
analysis:Answeris
based on qualitative factors, as contrasted with sales and cost analysis
which are based on quantitative data.is
most useful in situations where the iceberg principal is not likely to be a
concern.indicates
why problems have occurred and how to solve them.may
be based on several different performance indexes.All
of the above are true.5 points
Question 171. The
“contribution-margin approach” to marketing cost analysis:AnswerFocuses
attention on the allocation of fixed costs.Is
mainly concerned with the allocation of variable costs.Always
leads to the same conclusions as the “full-cost approach.”Is
always preferred to the “full-cost approach.”None
of the above.5 points
Question 181. Detailed
sales analysis is:Answernot
worth the cost unless the firm is very unprofitable.based
on the information available on traditional accounting reports.important
for producers, but usually not that valuable for retailers.most
useful when it analyzes costs from different possible target markets.None
of the above is true.5 points
Question 191. Compared
with sales analysis, PERFORMANCE ANALYSIS:Answershows
which customers should be dropped.looks
for exceptions or variations from planned performance.does
not do as much comparing against standards.shows
how to improve performance.All
of the above.5 points
Question 201. A _____
is a systematic, critical, and unbiased review and appraisal of the basic
objectives and policies of the marketing function and of the organization,
methods, procedures, and people employed to implement the policies.Answerbenchmarking
studymarketing
auditsales
analysisfull-cost
assessmentmarketing
strategy survey

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