Question 1

Rather than having only one goal or even several goals and objectives for a marketing plan,it is recommended that _____________.

Accepted Answer

A)  Goals are quantified with real numbers
B)  Each and every action plan be measured in some way
C)  Goals be simple and to the point
D)  Goals be realistic
E)  None of these

Question 2

The percent-of-sales method is the most popular approach for marketing plan budgeting but is constraining because sales are driving budget dollars rather than marketing investment leading to sales opportunities.

Accepted Answer

A) True 
 B)False

Question 3

A marketing audit may be needed in any of the following situations except when ____________.

Accepted Answer

A)  The firm is about to undergo a major rebranding initiative
B)  Evidence exists of significant marketing inefficiencies and poor ROMI and other metrics
C)  A new creative agency is coming onboard
D)  A recent change has occurred in top management
E)  the schedule calls for a routine audit to be done

Question 4

The dashboard for Apple Computers should be able to provide a read of ____________.

Accepted Answer

A)  The computer division's relationship to the iPhone group
B)  The CEO's efficiency in marketing
C)  How future new products will be accepted or rejected by the consumer market
D)  How the assets have been growing and how they are likely to progress
E)  None of these

Question 5

Two primary goals of any dashboard are ______________.

Accepted Answer

A)  Diagnostic oversight and intuitive insight
B)  Diagnostic ability and intuitive market focus
C)  Diagnostic insight and predictive foresight
D)  Diagnostics and future goals
E)  None of these

Question 6

A marketing manager may wish to initiate a marketing audit when _________.

Accepted Answer

A)  The firm is about to undergo a major rebranding initiative
B)  Evidence exists of significant marketing inefficiencies and poor ROMI and other metrics
C)  A new creative agency is coming onboard
D)  A recent change has occurred in top management
E)  All of these

Question 7

Situational factors include all except ____________.

Accepted Answer

A)  Marketplace volatility
B)  The time horizon
C)  Information accessibility
D)  Number of people required to accomplish the forecasting
E)  Expertise of the forecaster

Question 8

The budgeting method that relies on figuring out whatever is left over is known as the ______________ method.

Accepted Answer

A)  Zero-based
B)  Objective-and-task
C)  Percent-of-sales
D)  Comparative-parity
E)  All-you-can-afford

Question 9

Many firms think that ___________ is the final gauge of consumer acceptance of a new product and ultimate measure of market potential.

Accepted Answer

A)  The market analytic method
B)  The market test (or test market) 
C)  The go-to-market strategic method
D)  The post hoc market method
E)  None of these

Question 10

The dashboard must push beyond portrayal of what is happening to explain why it is happening,providing insight into where expectations were inaccurate and helping hone the process of setting expectations and forecast for the future.

Accepted Answer

A) True 
 B)False

Question 11

Managers may try several methods of forecasting that deliver different predictions.This leads to __________________.

Accepted Answer

A)  Uncertainty of which methods to use and how accurate they are likely to be
B)  The choice to use as many models as possible
C)  The view that subjective methods are just as good
D)  Uncertainty of which methods to use and how accurate they are likely to be, the choice to use as many models as possible, and the view that subjective methods are just as good
E)  Both uncertainty of which methods to use and how accurate they are likely to be and the view that subjective methods are just as good

Question 12

The dashboard provides insight into the execution of critical business processes required to deliver on the _______________.

Accepted Answer

A)  Desired customer value propositions
B)  Elements of tactical numerology
C)  Desirable elements of diagnostic mathematics
D)  Suitable service message
E)  All of these

Question 13

Share of voice quantifies the ___________ that a specific product or brand enjoys.

Accepted Answer

A)  Advertising
B)  Promotion
C)  Presence
D)  Knowledge
E)  None of these

Question 14

Taking a dashboard approach to marketing metrics goes a long way toward enabling successful marketing planning.However,several potential pitfalls exist in its execution such as ________.

Accepted Answer

A)  Overreliance on "inside-out" measurement
B)  Too many tactical metrics and not enough strategic insight
C)  Forgetting to market the dashboard internally
D)  All of these
E)  Both overreliance on "inside-out" measurement and too many tactical metrics and not enough strategic insightThe pitfalls of using the dashboard approach include:1. Overreliance on "inside-out" measurement.2. Too many tactical metrics; not enough strategic insight.

Question 15

Customer lifetime value (CLV) is an important number in that it represents ___________.

Accepted Answer

A)  What a customer spends in a year
B)  An upper limit on spending to acquire a new customer
C)  The importance of government contracts that have less risk
D)  The loss one could expect from a new competitor
E)  The discount rate of a given customer

Question 16

Sam Marino,an accountant in the organization,says that marketing is always overbudget and not accountable.Sam suggests that marketing can avoid this difficulty by ____________.

Accepted Answer

A)  Having a master budget for a plan
B)  Tracking the budget throughout the implementation process
C)  Reporting variances from the budget on a systematic basis
D)  Noting budget overages and communicating these with accountable people
E)  All of these

Question 17

Unit Market Share (%) = Unit Sales (#) divided by ___________.

Accepted Answer

A)  Estimated Total Market Revenue
B)  Estimated Total Market Profit
C)  Estimated Total Market Unit Sales
D)  Estimated Market Penetration
E)  None of these

Question 18

One of the problems with ROMI is that it often focuses on __________ rather than looking at the effects or changes in brand equity.

Accepted Answer

A)  Long-term decision perspective
B)  Short-term decision perspective
C)  Relationship marketing
D)  Incremental authorization
E)  None of these

Question 19

A dashboard creates transparency in marketing's goals,operations,and performance.This in turn _____________.

Accepted Answer

A)  Leads to smaller marketing budgets
B)  Leads to animosity among departments
C)  Elevates marketing's perceived accountability and trust by others
D)  Makes marketing look like the hero in the company
E)  None of these

Question 20

Customers Who Have Purchased the Brand (#) divided by Total Population (#) equals ____________.

Accepted Answer

A)  Brand Awareness
B)  Brand Peculiarity
C)  Brand Prowess
D)  Brand Penetration
E)  Total Brand Accumulation

Exam 16: The Marketing Dashboard: Metrics for Measuring Marketing Performance

Two primary goals of any dashboard are ______________.

Correct AnswerverifiedShow Answer

Customers Who Have Purchased the Brand (#) divided by Total Population (#) equals ____________.

Correct AnswerverifiedShow Answer

Sam Marino,an accountant in the organization,says that marketing is always overbudget and not accountable.Sam suggests that marketing can avoid this difficulty by ____________.

Correct AnswerverifiedShow Answer

A dashboard creates transparency in marketing's goals,operations,and performance.This in turn _____________.

Correct AnswerverifiedShow Answer

One of the problems with ROMI is that it often focuses on __________ rather than looking at the effects or changes in brand equity.

Correct AnswerverifiedShow Answer

The percent-of-sales method is the most popular approach for marketing plan budgeting but is constraining because sales are driving budget dollars rather than marketing investment leading to sales opportunities.

Correct AnswerverifiedShow Answer

The budgeting method that relies on figuring out whatever is left over is known as the ______________ method.

Correct AnswerverifiedShow Answer

Situational factors include all except ____________.

Correct AnswerverifiedShow Answer

Customer lifetime value (CLV) is an important number in that it represents ___________.

Correct AnswerverifiedShow Answer

The dashboard must push beyond portrayal of what is happening to explain why it is happening,providing insight into where expectations were inaccurate and helping hone the process of setting expectations and forecast for the future.

Correct AnswerverifiedShow Answer

Taking a dashboard approach to marketing metrics goes a long way toward enabling successful marketing planning.However,several potential pitfalls exist in its execution such as ________.

Correct AnswerverifiedShow Answer

Rather than having only one goal or even several goals and objectives for a marketing plan,it is recommended that _____________.

Correct AnswerverifiedShow Answer

The dashboard provides insight into the execution of critical business processes required to deliver on the _______________.

Correct AnswerverifiedShow Answer

A marketing audit may be needed in any of the following situations except when ____________.

Correct AnswerverifiedShow Answer

Share of voice quantifies the ___________ that a specific product or brand enjoys.

Correct AnswerverifiedShow Answer

A marketing manager may wish to initiate a marketing audit when _________.

Correct AnswerverifiedShow Answer

Many firms think that ___________ is the final gauge of consumer acceptance of a new product and ultimate measure of market potential.

Correct AnswerverifiedShow Answer

Unit Market Share (%) = Unit Sales (#) divided by ___________.

Correct AnswerverifiedShow Answer

The dashboard for Apple Computers should be able to provide a read of ____________.

Correct AnswerverifiedShow Answer

Managers may try several methods of forecasting that deliver different predictions.This leads to __________________.

Correct AnswerverifiedShow Answer

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