Marketing Final Exam

cbe model research top aacsb reflective msc blooms

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Unformatted text preview: tive MSC: BLOOMS Application 110. A planning manager visiting a company’s health and beauty aids division discovers the division has no effective method for allocating resources, nor for evaluating actual results against planned results. His suggestion to the division would likely be to prepare a: a. marketing audit b. contingency plan c. service audit d. market share analysis e. series of tactical evaluations ANS: A A marketing audit is a thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization. PTS: 1 REF: 27 OBJ: 02-9 Thinking KEY: CB&E Model Strategy | CB&E Model Research TOP: AACSB Reflective MSC: BLOOMS Application 111. Which of the following statements about marketing audits is true? a. Marketing audits only need to be performed once. b. The main purpose of the marketing audit is to develop a full profile of a company’s marketing effort. c. Marketing audits are only necessary after a major crisis. d. Marketing audits simply examine the external environment in which a company operates. e. The marketing audit should only be performed by outside accounting firms. ANS: B Marketing audits should be performed periodically by an inside or outside party who is independent enough to have top management’s confidence and has the ability to be objective. Marketing audits examine all facets of an organization’s internal and external marketing environments. PTS: 1 REF: 27 OBJ: 02-9 Thinking KEY: CB&E Model Strategy | CB&E Model Research TOP: AACSB Reflective MSC: BLOOMS Evaluation 112. What is the most critical element in successful strategic planning? a. Creativity b. Top management support and participation c. Continual attention d. The use of a BCG portfolio matrix e. A stringent and narrow mission statement ANS: B Effective strategic planning requires continual attention, creativity, and management commitment. However, the most critical element is top management’s support and participation. PTS: 1 REF: 28 Thinking KEY: CB&E Model Strategy OBJ: 02-10 TOP: AACSB Reflective MSC: BLOOMS Evaluation DeFeet International DeFeet International started as a cyclist sock company. The founder, Shane Cooper, said that the existing socks for cyclists were just not of great quality, so he made socks for his cycling team by knitting them inside out. The socks were of special materials aimed at giving the cyclist the most comfortable fit. These socks were not the traditional white socks but were bright, bold, and flashy colored socks with cool graphics. These high-tech socks were priced around $10 a pair. Their Web site says “DeFeet Is Made for Driven Soles.” Soon, cycling elites like Lance Armstrong and Greg LeMond were sporting the DeFeet brand. The company branched into running, hiking, and snow gear. Products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. DeFeet has a custom department where socks, armskins, and glove...
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This document was uploaded on 09/29/2013.

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