Deck 15: Planning and Implementation

Question 1

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

Answer 1

E

Question 2

What is the connection between internal strengths and weaknesses and external opportunities and threats?

Answer 2

A market plan is an outline of the methods and resources required to achieve an organisation's goals within a specific target market. It takes into account not only marketing but also all the functional aspects that must be coordinated, such as production, IT, logistics, finance and personnel. Environmental issues are an important consideration too. However in the best plans external factors such as competition and customer needs will determine to use and allocation of internal resources. This is where a SWOT analysis can be useful.

Question 3

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.

Answer 3

A

Question 4

Using Figure 15.5 and using an example, explore the separation between strategic planning and marketing implementation.

Question 5

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

Question 6

______ is the total amount of a product that customers will purchase within a specified period of time at a specific level of industry-wide marketing activity.

A) Market potential
B) Market analysis
C) Market level
D) Executive summary
E) Marketing implementation

Question 7

What is marketing implementation and why is it a challenge?

Question 8

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

Question 9

What is the difference between sales measurement and market share? Give example of both methods. ANS The basic unit of measurement is the sales transaction. A sales transaction results in a customer order for a specified quantity of an organization's product sold under specified terms by a particular sales person or sales group on a certain date. Many organizations record these bits of information about their transactions. With such a record, a company can analyse sales in terms of cash or sales volume, or market share. A company's market share is the company's sales of a product stated as a percentage of industry sales of that product. The primary reason for using market share analysis is to estimate whether sales changes have resulted from the company's marketing strategy or from uncontrollable environmental forces. When a company's sales volume declines but its share of the market stays the same, the marketer can assume that industry sales declined - because of some uncontrollable factors - and that this decline was reflected in the company's sales. However, if a company experiences a decline in both sales and market share, it should consider the possibility that its marketing strategy is not effective. PTS: 1 DIF: Easy REF: Methods of evaluating performance 10. What is market shareholder value analysis?

Question 10

What value does market planning contribute?

Question 11

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

Question 12

Why is relationship marketing seen as being important and what are the different domains of relationship marketing?

Question 13

A new shampoo is faltering badly in the market. Marketing personnel are unsure who is responsible for various marketing tasks, when these tasks are to be completed, or what resources have been allocated. The Marketing Director said that the problem is the most poorly written ____ she has ever seen.

A) marketing plan
B) competitive analysis
C) operations plan
D) media schedule
E) product specification sheet

Question 14

Which of the following is summary of the key components of a marketing plan?

A) Environmental analysis
B) Marketing strategies
C) Customer list
D) Executive summary
E) Marketing implementation

Question 15

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

Question 16

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.

Question 17

Managers are engaged in a 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.

Question 18

Discuss the core steps in the marketing planning process.

Question 19

Discuss the role of market tests.

Question 20

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.

Question 21

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.

Question 22

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.

Question 23

To formulate a marketing strategy, one must:

A) identify and analyse 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.

Question 24

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.

Question 25

Through the process of strategic planning, a firm establishes an organizational mission and goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan.

Question 26

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.

Question 27

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

Question 28

Marketing planning consists of two major components: marketing objectives and a control process.

Question 29

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.

Question 30

In response to the increase in demand for organic foods, a regional supermarket recently created organic food departments within their large stores. The creation of these departments was a result of:

A) a core competency
B) a market opportunity
C) its sales orientation
D) its distribution plan
E) a competitive advantage

Question 31

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.

Question 32

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.

Question 33

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.

Question 34

Market planners focus on dimensions such as competition, customer focus, differentiation, environmental focus, and customer relationships.

Question 35

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.

Question 36

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.

Question 37

Marketing objectives should be stated in such a way that the degree of accomplishment can be measured accurately.

Question 38

The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.

Question 39

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

Question 40

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

Question 41

Although openness is not the solution to ethics issues, it does create trust and facilitates learning relationships.

Question 42

The intended strategy is the one management decided upon during the planning phase and wants to implement.

Question 43

Marketing plans may be developed for different product lines or specific markets.

Question 44

Marketing activity cannot be implemented effectively without the co-operation of employees.

Question 45

Marketing planning and implementation are inextricably linked in successful businesses.

Question 46

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

Question 47

Marketing planning and implementation are inextricably linked in successful businesses.

Question 48

Marketing planning establishes an organizational mission and goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan.

Question 49

A marketing plan is a road map for implementing a company's strategies.

Question 50

Empowerment refers to the measurement and evaluation of the quality of an organization's goods, services, or processes as compared with the best-performing companies in the industry.

Question 51

The long-term health of the firm depends solely on having products that generate cash and provide acceptable reported profits.

Question 52

The realized strategy is the one management decided upon during the planning phase and wants to implement.

Question 53

Marketing planning and implementation are inextricably linked in successful businesses.

Question 54

Firms that truly adopt the marketing concept develop a distinct organizational culture based on a shared set of beliefs that makes customers' needs the pivotal point of the firm's decisions about strategy and operations.

Question 55

The sales forecast is the same as the sales potential.

Question 56

A marketing strategy and implementation should not be allowed to change.

Question 57

Experienced marketers should produce their own marketing plans without interference from outsiders.

Question 58

Customer relationship management strives to build satisfying exchange relationships between buyers and sellers by gathering useful data at all customer-contact points.