MKTG 431 Mini Test #13

question

Which of these is NOT a measure generally used in marketing?
answer

Share of budget
question

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class? #1
answer

Did we achieve our goals?
question

A ____________ is a collection of key marketing metrics organized in a way to highlight patterns of performance?
answer

Marketing dashboard
question

BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the market while BruceCo controls only 1% of the market. BruceCo is measuring _________?
answer

Market Share
question

Many strategic plans are not executed well because?
answer

The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization.
question

An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the ‘boxes’ in an organizational chart show patterns of ____________ and ____________ within the organization.
answer

Communication, authority
question

There are two things you need to know about a number if you are planning on using it as a metric. One of them is? #1
answer

What is the trend?
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A(n) ___________ is a quantifiable measure used to track, monitor, and assess the success or failure of a business practice?
answer

Metric
question

Information in a marketing dashboard is usually displayed graphically.
answer

True
question

When it comes to setting budgets, a bottom-up budget…?
answer

Is developed by the managers responsible for implementing the plan.
question

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company’s performance. For example successful companies develop a performance oriented ____________?
answer

Culture
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Contrary to what you would expect, when it comes time to evaluate the results of the plan…?
answer

It is just as bad to exceed the goal as it is to fail to reach the goal
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An outcome measure?
answer

Tells you whether or not you achieved your goal
question

Which of these is something you need to consider when it comes time to develop the marketing budget?
answer

These are all things you need to have in mind when it is time to negotiate a budget.
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In a performance-oriented culture, people at every level are encouraged to develop their own tactics for executing the strategic plan.
answer

False
question

When we say a measure is __________ we mean that it relates directly to the goal it is intended to measure?
answer

Relevant
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In order to execute a strategic marketing plan, long-range strategic objectives need to be broken down into short-range tactical objectives so that each unit of the organization understands?
answer

These are all things each unit of the organization needs to understand in order to execute a strategic plan.
question

BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend each day. Which of the following would be an outcome measure associated with the plan?
answer

The number of cups of the new blend sold each day.
question

A diagnostic measure?
answer

A diagnostic measure is all of these things
question

There are two things you need to know about a number if you are planning on using it as a metric. One of them is? #2
answer

Is it good or bad?
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When we say a measure is __________ we mean that results can be determined soon enough to use the feedback in improving performance?
answer

Timely
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In order to be useful, criteria used to measure progress toward a goal should be all of these EXCEPT?
answer

Adaptable
question

When it comes to setting budgets, a top-down budget…?
answer

Is determined at the corporate level
question

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company’s performance. For example successful companies maintain flawless operational ____________?
answer

Execution
question

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class? #2
answer

Are there things we could have done better?
question

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company’s performance. For example successful companies have clearly stated and focused ____________?
answer

Strategies
question

When we say a measure is __________ we mean that it should involve a number?
answer

Quantifiable
question

Sales data is frequently used as a metric in marketing plans. Which of the following is NOT a commonly used sales measure?
answer

Advertising expenditures
question

Which of these is NOT a measure generally used in advertising?
answer

All of these are measures commonly used in advertising
question

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company’s performance. For example successful companies tend to have flat and flexible ____________?
answer

Organizational structures

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