Marketing Chapter 2
17. To formulate a marketing strategy, one must a) identify and analyze a target market and develop a marketing mix to satisfy individuals in that market. b) develop a statement of what is to be accomplished through marketing activities. c) develop plans for implementation and control. d) develop an adequate marketing control process. e) determine marketing objectives.
A
68. The Texas Pitt Barbecuem Corporation has conducted a SWOT analysis of its competition, and sees a marketing opportunity for its new Texas Pit Barbecue restaurant. It has developed its marketing plan to include the type of products it will sell, the location for the restaurant, and the pricing it will use. Their plan includes a marketing objective to make a profit of 5% the first year of operation. So far, the owners of the restaurant have eliminated a key piece of the marketing plan, which is ______. a) specifying how they will achieve their marketing objective b) how they will address the competition's prices c) coming up with a quantitative measure for their objective d) developing a qualitative measure for their objective e) assessing their weaknesses
A
94. Kate is upset because the bank did not credit her account with a deposit, which resulted in a returned check to Kate's landlord. When she was told the branch manager was on vacation, Kate resigned herself to waiting two weeks to have the matter resolved. To her surprise, though, the receptionist apologized for the error and drafted a letter to Kate's landlord while Kate waited. The bank was engaging in which type of decision-making strategy? a) Employee empowerment b) Centralized management c) Structured d) Immediate-focused e) Product-focused
A
When managers at Logistics Pro are developing their strategic plan, they use a market orientation as a guide to ensure that ________ is an integral part of the process. a) customer satisfaction b) employee satisfaction c) the best use of their marketing resources d) the marketing mix e) the marketing function
A
101. If you were a marketing manager, under which type of organizational structure would you most likely be working if your firm were a large business with centralized marketing operations? a) Organization by type of customer b) Organization by function c) Organization by regions d) Organization by products and regions e) Organization by products
B
108. A firm that wants to put more senior management personnel into the field, to get closer to customers, and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of a) functions. b) regions. c) customer types. d) markets. e) products.
B
110. The marketing control process consists of a) establishing goals, market scanning, and market share analysis. b) establishing performance standards, evaluating performance, and reducing the differences between desired and actual performance. c) establishing goals and measuring performance. d) planning, implementing, and measuring marketing activities. e) setting objectives, implementing strategies, and reducing the differences between desired and actual performance.
B
51. The Boston Consulting Group classifies products that have a dominant market share but low prospects for growth and that generate more cash than is required to maintain market share as a) dogs. b) cash cows. c) stars. d) cash contributors. e) question marks.
B
55. Which of the following is the most specific and detailed type of business strategy? a) business-unit b) marketing c) corporate d) customer service e) tactical
B
64. A marketing plan a) is characteristic of production-oriented firms and other mass producers. b) provides a framework for implementing and controlling marketing activities. c) always increases the marketing manager's operating costs. d) produces plans that are short term in orientation. e) restricts the marketing manager's future options.
B
65. Starbucks is presently involved in a process of assessing marketing opportunities and resources, determining marketing objectives, re-defining marketing strategies, and developing guidelines for implementation and control. Thus, Starbucks is involved in a) strategic analysis. b) marketing planning. c) marketing management. d) marketing. e) market organization.
B
72. In essence, all organizations have two types of strategy: ___________ is the strategy that the organization decides on during the planning phase, and ___________ is the strategy that actually takes place. a) planned strategy; realized strategy b) intended strategy; realized strategy c) intended strategy; implemented strategy d) planned strategy; implemented strategy e) realized strategy; implemented strategy
B
88. Which of the following statements best describes total quality management? a) A process aimed at improving product quality, increasing competition based on quality, and quality improvement among employees b) The coordination of efforts directed at improving customer satisfaction, increasing employee participation, forming and strengthening supplier partnerships, and facilitating continuous quality improvements c) A method of increasing overall financial benefits, emphasizing faster development of innovations, and improving customer satisfaction d) A process directed at controlling marketing activities at a higher level of involvement among the firms' employees e) An approach used to emphasize the need for quality among a firm's hierarchy of employees, beginning with top-level executives
B
89. Stratford Manufacturing is interested in total quality management and wants to learn more about its principles. Which of the following elements will Stratford not address in its investigation of TQM? a) Improving customer satisfaction b) Purchasing lowest-cost materials c) Increasing employee participation d) Strengthening supplier partnerships e) Continuous product improvements
B
18. The marketing plan is a) a plan of all aspects of an organization's business strategy. b) written differently for each SBU. c) a written document detailing activities to be performed to implement and control marketing actions. d) designed to specify not only marketing, but all other functional areas of business activities as well. e) updated only periodically.
C
20. The strategic planning process begins with a) development of an organizational mission statement. b) development of marketing strategy. c) analysis of the marketing environment. d) analysis of target markets. e) development of a marketing plan.
C
21. A __________ is something that an organization does extremely well and may give a company an advantage over its competition. a) benchmark b) sustainable competitive advantage c) core competency d) strategic vision e) marketing opportunity
C
29. A __________ is created when a company matches its core competency to opportunities it has discovered in the marketplace. a) market opportunity b) market requirement c) competitive advantage d) strategic window e) competitive opportunity
C
31. An analysis of ___________ examines internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets. a) opportunities and threats b) market opportunities c) strengths and weaknesses d) activities and responsibilities e) organizational resources
C
35. When Opryland Hotel wants to have at least 90 percent of its customers indicating they had a memorable and satisfying experience at the hotel, this is an example of a) implementing the marketing mix b) maintaining their corporate identity c) a marketing objective d) a strategic plan e) a mission statement
C
80. Borders Books uses technology to help them identify specific customers, establish interactive dialogues with them to learn about their needs, and combine this information with their purchase histories to customize products to meet those needs. Borders Books is using the _____ approach. a) target market positioning b) SWOT analysis c) customer relationship management d) total quality management e) internal marketing
C
86. Meredith knows that whether she decides to interact with her customers in person, on the telephone, online, or by fax, that ________ should ultimately drive the marketing strategy. a) marketing research b) polite responsiveness c) her customers d) product availability e) company goals
C
115. One way that Saturn evaluates its product and service level is by how well it ranks on the J. D. Power & Associates Sales Satisfaction Survey. In doing so, Saturn is a) controlling marketing activities. b) taking corrective action. c) empowering its employees. d) evaluating actual performance. e) setting performance standards.
D
15. Identifying and analyzing a target market and developing a marketing mix to satisfy individuals in that market are essential elements of which of the following parts of strategic planning? a) Establishing marketing objectives b) Coordinating marketing activities c) Organizing marketing functions d) Developing a marketing strategy e) Planning marketing activities
D
16. Safeway Food Stores is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Safeway is creating a a) corporate strategy. b) target design. c) mix strategy. d) marketing strategy. e) marketing tactic.
D
23. When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a a) market objective. b) market requirement. c) strategic market plan. d) market opportunity. e) corporate objective.
D
26. After determining that consumers had concerns about fat and carbohydrates, Sardino's Pizza began offering a low-fat, low-carb pizza product. The creation of this new product was the result of a) a competitive advantage. b) a well-defined mission statement. c) good strategic planning. d) a market opportunity. e) opportunistic behavior.
D
46. According to the text, a market is defined as a) a place to buy products. b) the buyers of the products that a company develops, promotes, prices, and distributes. c) the specific group of customers on whom an organization focuses its marketing efforts. d) a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase these products. e) the percentage of a group of customers that actually buys a specific product from a specific company.
D
48. The Boston Consulting Group's matrix is based on the a) idea that a firm's market share and market attractiveness are the important factors for a marketing strategy. b) assumption that a firm's actions have a profitable impact on marketing strategy. c) business position and market attractiveness of the firm. d) philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy. e) idea that a product's market growth rate and market attractiveness determine the marketing strategy.
D
57. Which of the following statements about the marketing mix is incorrect? a) The selection of the target market serves as the basis for the creation of the marketing mix. b) The elements of the marketing mix are sometimes referred to as marketing mix variables. c) Each element of the marketing mix must be precisely matched with the needs of the target market. d) Once a marketing mix has been created for a particular target market, it cannot be changed until a new strategic window opens. e) Each element of the marketing mix must be precisely matched with the other elements of the marketing mix.
D
81. Which of the following is false with regard to customer lifetime value? a) It is a key measurement that forecasts a customer's lifetime economic contribution based on continued relationship marketing efforts. b) It can be calculated by taking the sum of the customer's present value contributions to profit margins over a specific timeframe. c) It includes not only an individual's propensity to engage in purchases but also his or her strong word-of-mouth communication about the firm's products. d) All customers have equal value to a firm. e) It is the only gauge that incorporates revenue, expense, and customer behavior and adopts a customer-centric approach.
D
99. Key factors in determining the best organizational structure for a marketing unit are the a) preferences of top management. b) fiscal resources of the firm. c) number of employees. d) diversity of the firm's products and the characteristics and needs of the people in the target market. e) skill levels of employees.
D
105. Ford has centralized marketing operations with personnel who direct marketing research, distribution, sales, advertising, and so forth reporting directly to the top-level marketing executive. Ford's marketing department is organized by a) product. b) region. c) types of customers. d) subregion. e) function.
E
116. Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except a) improving actual performance. b) reducing the performance standard. c) totally changing the performance standard. d) changing the marketing strategy. e) coordinating a new step in performance analysis.
E
30. Microsoft's marketing, technical skills, and continuing investment in improving its software systems give it a(n) ___________ because it makes computers easier to use. a) organizational opportunity advantage b) strategic window c) market requirement d) market opportunity e) competitive advantage
E
33. Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted upon properly are called a) strengths. b) market strategies. c) market niches. d) threats. e) opportunities.
E
62. Harley-Davidson's Harley Owner's Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a(n) _____ over other motorcycle manufacturers. a) controllable advantage b) uncontrollable competitive advantage c) sustainable marketing advantage d) effective competitive advantage e) sustainable competitive advantage
E
73. The _________ strategy in an organization often does not live up to marketing planners' expectations. a) intended b) expected c) planned d) control e) realized
E
74. Sayid's employer is currently developing a new marketing strategy. The top managers have developed the marketing strategy and have given it to Sayid so that he can now develop an implementation plan. Sayid's company will most likely end up with which type of strategy? a) Decentralized b) Centralized c) Rigid d) Intended e) Realized
E
76. Starbucks provides training and support to its employees, including health care benefits. Through these ____________ efforts Starbucks is better able to deliver quality products and service to its customers. a) internal management b). extended marketing c). intended marketing d). external marketing e). internal marketing
E
84. Customer relationship management systems cannot be effective unless they are developed as a) market-share building tools. b) profit-boosting tools. c) selling tools. d) cost-reduction tools. e) relationship-building tools.
E
85. The most important component of customer relationship management is a) technology. b) profits. c) sales. d) share of an individual customer's purchases. e) relationships with customers.
E
102. A disadvantage of organizing a firm's marketing unit by products is that a) product managers do not have adequate control over marketing activities. b) large firms might experience coordination problems. c) it can be rather expensive. d) specialized marketing assistance is less readily available. e) marketing flexibility is limited.
C
47. Jason, a 17-year old high school student, wants to buy a pack of Marlboro Lights. He has the money to purchase them, but he is still not considered to be a market for the product due to his lack of _____ to buy. a) ablity b) willingness c) authority d) need e) location
C
52. The director of marketing for 3M tapes tells the rest of the management team, "When it comes to our transparent packaging tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the packaging tape unit falls into which one of the following classifications? a) Problem child b) Star c) Cash cow d) Dog e) Question mark
C
53. The percentage of a market which actually buys a specific product from a specific company is referred to as that product's a) strategic segment b) target market c) market share d) market cut e) market position
C
113. An expected level of performance against which actual performance can be compared is a a) standard performance. b) standard of excellence. c) step in sales analysis. d) performance standard. e) corrective standard.
D
56. High Gliding Air Academy is developing its marketing mix for the coming year. Its managers know that they must first select _________, which may be the most important decision they make in the planning process. a) the promotional strategy b) a distribution method c) the pricing strategy d) a target market e) the desired profit margin
D
34. Successful business organizations should take actions to convert internal weaknesses into ___________ and external threats into ___________. a) opportunities; core competencies b) core competencies; strengths c) opportunities; strengths d) strengths; core competencies e) strengths; opportunities
E
63. Because of its highly efficient and low-cost distribution system, Walmart has a _________ advantage over Kmart. a) nonsustainable competitive b) sustainable marketing c) sustainable control d) sustainable implementation e) sustainable competitive
E
66. Which of the following is not a purpose of the marketing plan? a) Communicate internally with employees b) Assign tasks and responsibilities for implementation c) Specify the allocation of resources d) Monitor the performance of a marketing strategy e) Serve as a contract with the customer
E
90. If Apple measured and evaluated the quality of its goods, services, and processes as compared with those of the best-performing companies in the computer industry, it would be employing a) uniform commitment to quality marketing. b) internal marketing. c) external marketing. d) quality marketing. e) benchmarking.
E
93. ___________ involves giving customer-contact employees the authority and responsibility to make marketing decisions without seeking the approval of a supervisor. a) Benchmarking b) Internal marketing c) Total quality management d) Marketing implementation e) Empowerment
E
Strategic planning refers to the process of...
establishing an organizational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan.
103. A firm that markets diverse products would most likely base the organization of its marketing department on a) products. b) regions. c) functions. d) types of customers. e) marketing objectives.
A
22. A market opportunity results from a) the right combination of circumstances and timing that permit an organization to take action to reach a particular target market. b) monitoring the firm's capabilities. c) an increase in market share and profits. d) an assessment of environmental forces. e) technological determinism.
A
28. A competitive advantage exists when a a) firm matches a core competency to opportunities it has discovered in the marketplace. b) firm does marketing better than its competitors. c) combination of circumstances and timing allow a firm to reach an attractive target market. d) firm observes a fit between the key requirements of a market and its own capabilities. e) firm has a strong marketing plan.
A
36. An organization's business goals should be derived from its a) mission statement. b) strategic plan. c) strategic business plan. d) marketing plan. e) marketing strategy.
A
100. According to the textbook, which of the following statements is most accurate? a) A small company always should organize by products, and a large organization should organize by regions. b) There is no single approach to organizing a marketing unit that works well in all businesses. c) Some organizations, by nature, have no specific internal structure. d) Organizing by type of customer works best for companies with few groups of customers. e) Using several bases for organizing leads to uncoordinated marketing management.
B
104. Procter & Gamble, like many firms in the consumer packaged-goods industry, is organized by a) function. b) product. c) region. d) types of customers. e) subregion.
B
24. In response to the increase in demand for organic foods, Wegmans, Inc., a regional supermarket, recently created organic food departments within their large stores. The creation of these departments was a result of a) a core compentency b) a market opportunity c) its sales orientation d) its distribution plan e) a competitive advantage
B
25. Realizing that consumers have begun to seek vehicles that use less gasoline, Toyota heavily promotes its hybrid automobiles to capitalize on this __________ while the strategic window is open. a) marketing mix b) market opportunity c) objective d) requirement e) goal
B
27. A strategic window is a) the right combination of circumstances and timing that permit an organization to take action to reach a particular target market. b) what determines the factors that are most important in making a market attractive or strong. c) customers' requirements or desired benefits. d) a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market. e) the process that seeks information about events and relationships in a company's outside environment.
D
40. Which of the following statements is incorrect? a) Of the three levels of planning, corporate strategy is the broadest. b) Business-unit strategy should be consistent with the corporate strategy. c) Marketing strategy should be consistent with both the business-unit and corporate strategies. d) Strategic planning begins at the marketing level and proceeds through business-unit and corporate levels. e) Strategic planning begins at the corporate level and proceeds through business-unit and marketing levels.
D
87. The employees of Zingerman's Deli are its ______ customers. a) external b) extended c) intended d) internal e) domestic
D
91. The term "______" describes measuring and evaluating a firm's quality in products and processes against industry leaders. a) total quality management b) benchmarking c) internal marketing d) empowerment e) implementation
B
95. In a traditional organization, marketing decisions are likely to be a) very decentralized. b) centralized at the top levels of the organization. c) made by frontline employees. d) made by frontline managers. e) made only by the CEO.
B
71. The process of putting marketing strategies into action is called a) marketing implementation. b) marketing control. c) marketing action. d) marketing auditing. e) the marketing action plan.
A
78. What focuses on using information about customers to create marketing strategies that develop and sustain desirable customer relationships? a) Customer relationship management b) Electronic data interchange c) Business-to-consumer marketing d) Strategic partnerships e) The marketing concept
A
96. At Mrs. Fill's Cookie Co., top-level managers delegate very little authority to lower-level employees. Mrs. Fill's is a(n) ___________ organization. a) centralized b) decentralized c) empowered d) marketing-oriented e) total quality management
A
14. Managers at the Littlefield Corporation are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and, eventually, a marketing plan. This process is called a) marketing planning. b) strategic planning. c) marketing strategy. d) corporate strategy. e) strategic business planning.
B
38. A firm's unique symbols, personalities, and philosophies comprise its a) corporate persona. b) corporate identity. c) corporate character. d) CEO's identity. e) ethics.
B
49. According to the Boston Consulting Group, marketers may classify their products as all of the following except a) dogs. b) cash contributors. c) question marks. d) stars. e) cash cows.
B
50. Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are a) dogs. b) cash cows. c) stars. d) question marks. e) pigs.
C
37. The reputation and well-known brand name of Rolex watches represents a ________ for Rolex. a) competitive advantage b) core competency c) market opportunity d) strategic window e) pricing strategy
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118. The time lag between the performance of marketing activities and their results a) limits the marketing manager's ability to measure the effectiveness of marketing activities. b) facilitates the ability to measure performance. c) increases the chance of accurate measurement. d) limits the amount of money to be spent on measurement. e) increases the likelihood of having a successful marketing mix.
A
54. According to the Boston Consulting Group, question marks are characterized as products a) having a small share of a growing market and requiring large amounts of cash to build market share. b) generating more cash than is required to maintain share. c) encompassing the greatest number of products. d) existing at a cost disadvantage and revealing few opportunities for growth at a reasonable cost. e) having substantial reported profits but needing a lot of cash to finance the rate of growth.
A
59. All marketing mix decisions must have two characteristics: ___________ and ___________. a) consistency; flexibility b) consistency; rigidity c) formality; flexibility d) variability; flexibility e) formality; rigidity
A
77. Using information about customers to create marketing strategies that develop and sustain desirable long-term customer relationships is known as a) computer resource management. b) customer resource management. c) customer relationship management. d) customer research management. e) e-marketing.
C
114. Morris Business Products Co. has established a monthly sales quota of $150,000. This is a(n) a) marketing control process. b) evaluation of actual performance. c) evaluation standard. d) sales analysis. e) performance standard.
E
32. John Deere's strong name recognition and solid customer demand for its farm and garden equipment are two elements of the firm's a) strengths. b) opportunities. c) weaknesses. d) threats. e) strategies.
A
39. Which of the following is a characteristic of a marketing objective? a) It is consistent with both business-unit and corporate strategy. b) It is a verbal agreement, not in writing. c) It is not written in measurable terms.. d) It does not specify a time frame for its accomplishment. e) It clearly identifies how marketing strategy will be implemented.
A
42. ___________ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals. a) Corporate b) Business-unit c) Marketing d) Mission statement e) Marketing mix
A
44. Kraft purchased the Duracell Battery Company and now operates this division as a separate profit center within the firm. In this example, Duracell is a(n) ___________ unit of Kraft. a) strategic business b) marketing c) dependent d) independent e) corporate
A
61. A competitive advantage that cannot be readily copied by the competition is referred to as a(n) __________ advantage. a) controllable b) sustainable c) noncopyable d) effective e) implementable
B
45. A group that has the willingness, ability, and authority to buy a product is a a) market. b) consumer. c) strategic business unit. d) business customer. e) strategic window.
A
60. Gucci Group, a marketer of high-fashion products, achieved a company turnaround by ensuring that its brand had the same image and proper display around the world. It also lowered prices on some items, like handbags, to be more competitive. This illustrates a company working to develop a marketing mix that is both _______ and _______. a) consistent; flexible b) formal; flexible c) variable; flexible d) consistent; rigid e) consistent; formal
A
67. Hallaway's Corp.'s new shampoo, VS2, is faltering badly in the market. Hallaway's marketing personnel are unsure who is responsible for various marketing tasks, when these tasks are to be completed, or what resources have been allocated. Hallaway Marketing Director Carolyn Willis said that the problem is that VS2 has the most poorly written ___________ she has ever seen. a) marketing plan b) competitive plan c) implementation plan d) media schedule e) product specification sheet
A
70. A marketing plan usually begins with a(n) a) executive summary. b) introduction to the company's marketing objectives. c) summary of current performance as compared with past performance. d) situation analysis. e) opportunity and threat analysis.
A
111. Marketing managers at Consolidated Equipment Corporation are involved in establishing marketing performance standards, evaluating performance, and reducing the differences between actual and desired performance. These marketing managers are engaged in a) the systems design process. b) the marketing control process. c) marketing systems design. d) the marketing audit. e) marketing evaluation.
B
106. Organizing a marketing unit by regions works well for a company that a) produces and markets diverse products. b) is small and has a centralized marketing operation. c) markets products throughout the nation. d) has several groups of customers whose needs and problems are different. e) offers specialized marketing mixes for different products.
C
107. Suppose a customer calls Ann's office at Frito-Lay in Atlanta. The customer has a friend in Seattle who was just telling her about a new snack Frito-Lay has introduced that is selling rapidly. Ann's office does not market this product, and at the present knows very little about it. Based on this information, this firm is most likely organized according to which of the following? a) Function b) Product c) Region d) Customer e) Market
C
109. An appliance manufacturer that sells to large retail stores, wholesalers, and institutions would probably organize its marketing unit on the basis of a) subregions. b) national divisions. c) types of customers. d) functions. e) products.
C
117. When an organization attempts to control its marketing activities, it may find it difficult to a) determine their effect on sales volume. b) use the information it collects. c) obtain the necessary information. d) get the accounting department to cooperate. e) develop a marketing plan.
C
58. Business decisions made in creating a marketing mix a) are made before a target market is identified. b) are unchangeable once they are agreed upon by management. c) are only as good as the organization's understanding of the needs of the target market. d) usually take place when a strategic window is open. e) must always be consistent with the firm's opportunities.
C
69. Which of the following is not a component of a marketing plan? a) Environmental analysis b) Marketing strategies c) Product d) Executive summary e) Marketing implementation
C
75. For marketing implementation to be successful, the needs of _________ customers must be met. a) external b) internal c) both internal and external d) planned e) both planned and realized
C
79. Electronic marketing has greatly improved the ability of marketers to target individual customers. As a result, many feel that marketing's emphasis is shifting from share of market to share of a) budget. b) consumer online time. c) customer. d) awareness. e) commitment.
C
82. According to the text, the 80/20 rule suggests that a) 80 percent of profits come from 20 percent of business customers. b) 20 percent of profits come from 80 percent of business customers. c) 20 percent of profits come from 80 percent of customers. d) 80 percent of profits come from 20 percent of customers. e) 80 percent of profits come from 20 percent of sales.
D
83. Customer relationship management is facilitated by gathering useful data from a) telephone interactions with customers. b) personal interactions with customers. c) online interactions with customers. d) all customer-contact points. e) all exchange transactions.
D
92. A server in a fine restaurant has the authority to give a complimentary dessert to a dissatisfied customer when the customer complains about the meal or service. This is an example of a) benchmarking. b) individualism. c) good training. d) empowerment. e) localized authority.
D
97. The Acme Corporation is expanding operations into countries outside the United States. To improve local managers' responsiveness to local conditions, Acme's senior management has decided to delegate decision-making authority further down the chain of command. Acme is a) building a marketing-oriented organization. b) empowering employees. c) centralizing. d) decentralizing. e) making a serious error.
D
98. A marketing unit can be organized according to functions, products, regions, and a) sales. b) target markets. c) competitive units. d) types of customers. e) product features.
D
112. The first step in the marketing control process is to a) take corrective action. b) reduce the difference between actual and desired standards. c) evaluate actual performance. d) compare actual performance and standards. e) establish performance standards.
E
41. Resource deployment and coordination of functional areas of business are determined by a) the mission statement. b) corporate strategy. c) business-unit strategy. d) marketing strategy. e) the marketing mix.
B
43. Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a a) profit entity. b) strategic business unit. c) marketing program. d) small business. e) diversified corporation.
B
19. CyberCycle Inc., is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the a) profit plan. b) marketing program. c) strategic market program. d) strategic business plan. e) marketing plan.
E
