MKT Chapter 16

Which step in the marketing analytics process involves looking for trends in marketing's performance?

Tracking metrics over time

This element in the marketing plan answers the question, "What needs do we hope are met in the market?"

Product/market objectives

Which of the following are reasons why marketing needs data?

All of these are reasons why marketing needs data

An analysis of a company's immediate environment, external environment, and any threats or opportunities is included in which section of the marketing plan?

Situation analysis

Which of the following is NOT a part of the marketing tools section of a marketing plan?

The brand identity

Which of the following is NOT true regarding a company's marketing plan for a new product or service?

All of the elements of a marketing plan should be of equal importance

When developing the target market section of the marketing plan, a marketer might ask which of the following questions?

Are there any unmet needs in the market?

At which point in the marketing plan does the marketer test and gauge whether or not the marketing plan has been successful?

None of these

The measurements for success in the product and market objectives should be each of the following except:

Only sales oriented

Which of the following would be included in the brand identity section as part of developing a marketing plan?

We aim to use creativity and resources to help dogs that have been abandoned and connect them with loving homes

You have just written out the following regarding your company: "We exist to help teachers help the world. We want to equip instructors to teach in innovative ways." This would fit best in which part of the marketing plan?

In the brand identity

The situation analysis portion of the marketing plan includes all of the following except:

A clear positioning statement outlining the product's differentiation

Which type of metric shows how busy marketing is but not what impact it is having?

Vanity metrics

Which of the following best describes what a marketing plan is?

A comprehensive strategy covering the marketing management process for the product

Which type of metrics points to expected outcomes such as likelihood to purchase or defect?

Predictive

Which marketing metric type measures the efficiency of the marketing team?

Operational

All of the following are examples of good, strategic product and market objectives except:

Have a good product that sells well

Which characteristic tends to be true of companies who do not have a marketing analytics process?

Their leaders rely on instinct instead of data

Which characteristic tends to be true of companies who have a vanity marketing analytics process?

They use metrics to show how busy they are

Which section of the marketing plan answers the questions, "How will we know we are satisfying our customers' needs?" and "How will we track customer loyalty and positive word of mouth?"

Customer response assessment plan

Which of the following best describes the marketing tools section of the marketing plan?

It is a tactical plan for the product or service

Which characteristic tends to be true of companies who have a real marketing analytics process?

They have high immunity to internal politics

You're opening a new, healthy fast food restaurant called FreshSnacks, and you are developing a marketing plan for it. Which of the following is an appropriate positioning statement for your new restaurant?

For young adults who are budget-conscious and health-conscious, FreshSnacks is ideal for eating healthy on the go because it serves all organic and non-processed food at a lower price point than competitors

Which type of metrics measure effort and include examples such as the number of images posted on social media or number of blog articles written?

Activity

Your quirky fashion line, ImaMess, is launching its newest line of ugly sweaters for the holiday ugly sweater bashes. Which of the following would be included in the customer response assessment plan as part of developing your marketing plan?

We will follow up with customers to see how they like the quality of the sweaters and review social media for our hashtag usage

Which of the following is most true about the customer response assessment plan portion of the marketing plan?

It is a plan to gauge success and determine if changes are needed

Which would be an example of an efficiency metric?

How many flyers were produced

Which of the following is NOT true about developing product and market objectives for a marketing plan?

It should be the overarching statement to guide your company and should be qualitative and open to interpretation

Which of the following would be included in the product and market objectives statement as part of developing a marketing plan?

We should sell 3,000 units of the PamperedPet dog blanket within the first 12 months of product launch

Which of the following would be considered part of the customer response assessment plan as part of developing a marketing plan?

We will survey our customers to find satisfaction rates and monitor social media for brand mentions

A company that has metrics that show how busy the marketing team is but that don't show how marketing impacts the company is using which type of analytics process?

Vanity analytics process

When writing out your brand identity statement to develop a marketing plan, you should ask which of the following?

Who are we as a company and what is our purpose or mission?

The measurements for success in the product and market objectives should be each of the following except:

Years into the future

Which of the following would be considered part of the marketing tools/Ps of marketing section when developing a marketing plan?

The PamperedPet dog blanket will be priced at $39.99 and will be distributed online and in stores

When developing a product marketing plan, which of the following should be developed first?

The elements covering who the brand is and why it exists

Your scented candle company is deciding on metrics for its marketing analytics process. All of the following would be examples of metrics for your company except which?

Good-smelling candles

Your quirky fashion line, ImaMess, is launching its newest line of ugly sweaters for the holiday ugly sweater bashes. Which of the following would be included in the product and market objectives statement as part of developing your marketing plan?

We want to sell 8,000 units of the ImaMess sweaters within the first six months of product launch

The following statement is an example of which element of the marketing plan? "For business professionals, the eRolodex app is ideal for keeping track of the business associates they meet while networking because it has a unique QR code scanning and organizing system to help them remember and follow up with each person."

Positioning statement

Which of the following is most true about the marketing analytics process?

Marketing collects and uses data to measure its own effectiveness and then takes action based on that data

Your quirky fashion line, ImaMess, is launching its newest line of ugly sweaters for the holiday ugly sweater bashes. Which of the following would be included in the brand identity statement as part of developing your marketing plan?

We desire to make people smile and feel good when they both wear and see our apparel

Which marketing metric type measures effort?

Activity

All of the following are reasons that marketing needs data and could use a marketing analytics process except:

To balance stakeholder assets

Which is an example of an effectiveness metric?

How much revenue marketing contributed

Which of the following is most true about the purpose of the product and market objectives section in the marketing plan?

It serves to clarify success measurements for the marketing plan

All of the following are examples of leading indicator metrics except:

The number of social media posts created and posted within a week

All of the following are true about the classes of marketing metrics except:

Efficiency metrics are the best indicator of marketing's value

Your new lawn mowing company is deciding on metrics for its marketing analytics process. All of the following would be examples of metrics for your company except which?

How much the service costs

Which is the term for the quantifiable measurement that a marketer would use in the marketing analytics process?

Metric

Your quirky fashion line, ImaMess, is launching its newest line of ugly sweaters for the holiday ugly sweater bashes. Which of the following would be included in the marketing tools/Ps of marketing as part of developing your marketing plan?

The ImaMess sweaters will be premium priced at $149.99 and will be distributed in boutique stores

Which class of metrics are the best indicators of marketing's value?

Effectiveness metrics

You're opening your new nail salon and are developing a marketing plan for it. All of the following are examples of good, strategic product and market objectives for your nail salon except:

Sell manicures and pedicures to customers

Each of the following is true about the positioning statement portion of the marketing plan except:

Its main purpose is to serve as advertising copy

The following statement is an example of which element of the marketing plan? "For trail racing athletes, the FASTER shoe is ideal for competing in long-distance races because it has a unique sole to help athletes maintain balance over rocky terrain."

Positioning statement

A bank is developing a process to analyze customer transaction data in an effort to determine, based on changes to transaction patterns, which customers are likely to close their accounts. Which type of marketing metric does this represent?

Predictive

You're opening a new Italian restaurant and are developing a marketing plan for it. All of the following are examples of good, strategic product and market objectives for your Italian restaurant except:

Serve good Italian meals that people enjoy