Exam (elaborations)
Essentials of Marketing 15th Edition by William Perreault Jr - Test Bank
- Course
- Institution
Test Bank For Essentials of Marketing 15th Edition by William Perreault Jr
[Show more]
Seller
Follow
ExamsExpert
Reviews received
Content preview
, Bonus Chapter 1Implementing and Controlling Marketing Plans: Evolution and
Revolution
Answer Key
True / False Questions
1. Implementation puts plans into operation while control provides feedback.
TRUE
Feedback: Successful marketing requires efficient implementation and control.
Implementation puts plans into operation, and control provides feedback
AACSB: Reflective Thinking
Blooms: Remember
Learning Objective: BC1-01
Level of Difficulty: 1 Easy
Topic: Good Plans Set the Framework for Implementation and Control
2. Digital communication and e-commerce offer speed and detail in obtaining
information needed for better control.
TRUE
Feedback: Fast feedback is not possible unless data are in a form that can be
quickly sorted and analyzed by computer. Digital communication and e-commerce
help solve these problems. Many companies use the Internet to immediately share
data among locations. A sales manager with a notebook computer can pull data off
the firm's intranet from anywhere in the world.
AACSB: Reflective Thinking
Blooms: Remember
Learning Objective: BC1-01
Level of Difficulty: 1 Easy
Topic: Speed Up Information for Better Implementation and Control
BC1-1
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
,3. The development of electronic pipelines and inexpensive computer software has
helped small and large companies control their marketing strategies.
TRUE
Feedback: With the electronic pipeline, a report summarizing sales by product,
salesperson, or type of customer can be available whenever an online user wants
it. Marketing managers that don't adopt them are losing out to more nimble
competitors who get information more quickly and adjust their implementation and
strategies more often.
AACSB: Technology
Blooms: Remember
Learning Objective: BC1-01
Level of Difficulty: 1 Easy
Topic: Speed Up Information for Better Implementation and Control
4. The ideal of doing things better, faster, and at lower cost is easy to implement once
it is accepted.
FALSE
Feedback: The ideal of doing things better, faster, and at lower cost is easy to
accept. But in practice implementation is often complicated by trade-offs among
the three objectives.
AACSB: Reflective Thinking
Blooms: Remember
Learning Objective: BC1-02
Level of Difficulty: 1 Easy
Topic: Effective Implementation Means that Plans Work as Intended
5. Implementing a strategy is straightforward; there are usually only a limited number
of ways things can go wrong.
FALSE
Feedback: There are thousands of ways that a plan or its implementation can go
astray. Implementing a strategy is a complicated process and requires constant
monitoring.
AACSB: Analytical Thinking
Blooms: Remember
Learning Objective: BC1-02
Level of Difficulty: 1 Easy
Topic: Effective Implementation Means that Plans Work as Intended
BC1-2
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
, 6. Traditional accounting reports are usually too general to be of much help to the
marketing manager in controlling marketing plans.
TRUE
Feedback: Unfortunately, traditional accounting reports are usually too general to
be much help in answering these questions. A company may be showing a profit,
while 80 percent of its business comes from only 20 percent of its products—or
customers. The other 80 percent may be unprofitable. But without special analyses,
managers won't know it.
AACSB: Analytical Thinking
Blooms: Remember
Learning Objective: BC1-02
Level of Difficulty: 1 Easy
Topic: Control Provides Feedback to Improve Plans and Implementation
7. Traditional accounting reports don't give sufficient information to managers who
need to know what's happening, in detail, to improve the bottom line.
TRUE
Feedback: Unfortunately, traditional accounting reports are usually too general to
be much help in answering these questions. A company may be showing a profit,
while 80 percent of its business comes from only 20 percent of its products—or
customers. The other 80 percent may be unprofitable. But without special analyses,
managers won't know it.
AACSB: Reflective Thinking
Blooms: Understand
Learning Objective: BC1-02
Level of Difficulty: 2 Medium
Topic: Control Provides Feedback to Improve Plans and Implementation
8. The "80/20 rule" describes the relationship that 80 percent of an organization's
business often comes from only 20 percent of its products or customers.
TRUE
Feedback: A company may be showing a profit, while 80 percent of its business
comes from only 20 percent of its products—or customers. The other 80 percent
may be unprofitable. But without special analyses, managers won't know it. This
80/20 relationship is fairly common—and it is often referred to as the 80/20 rule.
AACSB: Analytical Thinking
Blooms: Remember
Learning Objective: BC1-02
Level of Difficulty: 1 Easy
BC1-3
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.91. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now