quiz 2

(1) Marketing Managers are accountable for the impact of their actions on profit and cash flow.

Therefore, they need a working knowledge of basic accounting and finance concepts. What

information would you tell a NEW Marketing Manager that they need to understand in regard to

the above statement?

(2) What is segmenting and targeting and why are they important to use in Marketing?

(3) A Breakeven Analysis is a powerful management tool, and one that is critical in planning,

decision-making, and expense control. It can be invaluable in determining whether to buy or

lease, expand into a new area, build a new plant, and many other such considerations.

T or F

(4) According to the segmentation process, a market segment should be:

o Measurable.

o Differentiable.

o Accessible.

o Substantial.

o ALL OF THE ABOVE.

o NONE OF THE ABOVE.

(5) What specifically is a break-even analysis and how is this tool important in our marketing

efforts?

(6) What is a SWOT Analysis and how might a Marketing Manager utilize this in their efforts?

(7) To really understand the answers to questions like, “Which customers are most profitable? Is

the commission or bonus structure in each sales area fair and consistent? What products are

providing the best return? A Marketing Manager better get acquainted with an important, yet

simple tool called – Contribution Analysis.

T or F

(8) Please explain what is meant by a market opportunity analysis:

(9) What are the key components in a Marketing Plan and how is this used by a

Marketing Manager?

(10) A marketing mix typically encompasses activities controllable by the organization. These

include the kind of product, service, or idea offered (product strategy), how it will be

communicated to buyers (communication strategy), the method for distributing the offering to

buyers (channel strategy), and the amount buyers will pay for the offering (price strategy).

T or F

(11) What is meant by DECIDE in marketing decision making?

(12) The strategic alternatives of a company are influenced by a number of factors. The factors

that a Marketing Manager must consider are three types: external, financial, and internal. T

or F

(13) Strategic Planning is the process which involves the review of:

o Market Conditions

o Customer Needs

o Competitive Strengths and Weaknesses

o Sociopolitical, Legal and Economic Conditions

o Technological Developments

o Resource Availability

o ALL OF THE ABOVE

o NONE OF THE ABOVE

(14) What are the 4 things that a Marketing Plan does for an organization – if done correctly?

(15) What is meant by segmentation and how can this benefit a company in regards to their

marketing efforts?

(16) The major benefits to a S.W.O.T Analysis are:

o Simple to use.

o Reduces the costs of strategic planning.

o Flexible.

o Integrates and synthesizes diverse information.

o Fosters collaboration among managers of different functional areas.

o ALL OF THE ABOVE.

o NONE OF THE ABOVE.

(17) What are the 3 predominant areas of a market opportunity analysis that we must take into

consideration as Marketing Managers?

(18) The ultimate goal of any segmentation process is to allow us to position our offering in the

marketplace in the most strategic fashion.

T or F

(19) Positioning is the act of designing an organization’s offering and image so that it occupies a

distinct and valued place in the target customer’s mind relative to competitive offerings. T

or F

(20) What is meant by brand equity and how is this achieved through our marketing efforts?

(21) Factors that can influence our efforts in establishing our promotional campaign are:

• Type of product and market.

• Push vs. Pull Strategy.

• Buyer readiness stage.

• Product Life Cycle Stage.

• ALL OF THE ABOVE.

• NONE OF THE ABOVE.

(22) What is meant by IMC and what are the steps involved in developing an effective one?

(23) It is vital that a Marketing Manager state their promotional objective prior to generation of

any promotional efforts. If you do not accomplish this task, it makes it extremely difficult to

measure the effectiveness of your overall campaign. T or F

(24) What are some positioning strategies that a Marketing Manager can utilize in their pursuit of

a strategic advantage?

(25) What strategy should Jones Blair have adopted to reach the segment(s) sought?