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Johnston MKT120 week 12 quiz

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Question;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

 

Paper#47233 | Written in 18-Jul-2015

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