Question 1

Hendricks understands that customers are an important aspect to his firm's bottom-line, but he is very focused on profits.What concept would help Hendricks understand his need to switch from a focus on profits to a focus on the long-term health of his customer relationships?

Accepted Answer

Customer Lifetime Value (CLV)Overall, CL...

Question 2

Electra Electrical Motors has sales people all over the U.S.They ask each member of the sales team once a year to make a forecast of their expectations with respect to what they plan to sell.This is known as the ____________.

Accepted Answer

A)   Sales economy method
B)   Make easy sales method
C)   Composite commercial method
D)   Sales force composite method
E)   All of the aboveF) A) and B)
G) B) and C)

Question 3

Analytical factors include all except ____________.

Accepted Answer

A)   Stability of the data series
B)   The time horizon
C)   The degree of structure imposed on the process
D)   The manager's experience
E)   Seasonality of informationF) B) and E)
G) None of the above

Question 4

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 the aboveF) B) and C)
G) All of the above

Question 5

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 forecasterF) A) and B)
G) C) and D)

Question 6

One technique of forecasting is called the Moving Average.In this method rather than using last years sales as the forecast, ___________.

Accepted Answer

A)   A simple average for the last 2 or 4 years is used
B)   A smoothing technique is used to determine the forecast
C)   A decomposition of the industry is used to average the sales
D)   An average is calculated using the mid-point of the sales trend and then is computed by multiplying it by a beta coefficient to get the next year's forecast
E)   None of the aboveF) A) and D)
G) D) and E) A

Question 7

Bumblebee Baby has just released a new line of environmentally baby products.It would like to determine how the new line is penetrating the market, how should managers go about doing this?

Accepted Answer

They need to determine their market shar...

Question 8

Everyone calculates ROMI the same so when one corporate executive talks about the concept other people know what his or her measurement is.

Accepted Answer

A) True 
 B)False

Question 9

Sales force effectiveness is a measure of market performance by a company that focuses on how well the sales force does with respect to __________ in relationship to sales.

Accepted Answer

A)   Number of calls made
B)   Number of potential accounts
C)   Number of active accounts
D)   All of the above
E)   None of the aboveF) A) and C)
G) C) and E)

Question 10

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 the aboveF) A) and E)
G) B) and C)

Question 11

The emphasis in regression analysis is not to isolate all factors that affect sales but simply to identify those that have _________ on sales and then to estimate the magnitude of the impact.

Accepted Answer

A)   The least dramatic impact
B)   The average impact
C)   The most dramatic impact
D)   Predictor impact
E)   None of the aboveF) A) and C)
G) All of the above

Question 12

The Apollo project, a joint venture of Nielsen and Arbitron, found that people exposed for several months of advertising for mid to large brands responded by ____________.

Accepted Answer

A)   Buying 5 to 8 percent less of the advertised brands than before the ads were run
B)   Buying the same amount as before being exposed to the advertising messages
C)   Buying 5 to 8 percent more of the advertised products than before the ads were run
D)   Buying more of the non-advertised brands than before the ads were run
E)   None of the aboveF) B) and E)
G) A) and C) C

Question 13

Lorena is the marketing manager for Up in Lights, a large-scale sign manufacturer.She is trying to determine the best forecast for her marketing plan.What questions does she need to answer in order to choose the best method?

Accepted Answer

In preparing the forecast for a marketing plan, the marketing manager must answer two key questions: Which forecasting method(s)should be used and how accurate is the forecast likely to be? The importance of the decision is exacerbated when several methods are tried and the forecasts don't agree, which is the norm rather than the exception.

Question 14

Ultimately, the marketing manager must rely upon _________ in making the forecasting decision.

Accepted Answer

A)   A consultant's decision
B)   Al the models proposed by all participants
C)   His or her own judgment after reviewing multiple input sources
D)   All of the above
E)   None of the aboveF) B) and C)
G) All of the above

Question 15

One of the most important measures for on-line measurement is click through rate in that it measures the final sale in the process.

Accepted Answer

A) True 
 B)False

Question 16

Forester Outwear is planning on releasing a new tent for the camping season.How would it use cannibalization rates?

Accepted Answer

Cannibalization rates represent an impor...

Question 17

The budgeting method is constraining because it relies on gross revenue is known as the ______________ method.

Accepted Answer

A)   Per unit
B)   Objective-and-task
C)   Percent-of-sales
D)   Comparative-parity
E)   All-you-can-affordF) A) and B)
G) C) and D)

Question 18

Jaylin is working on forecasting next year's sales for her mail order holiday wreath company.She simply states that next year's sales will be equal to this year's sales.Jaylin is using a simplistic form of which forecasting analysis?

Accepted Answer

Approaches to forecasting using time-ser...

Question 19

There are times that marketers forgets that marketing is not just a department and they fail to market the dashboard to __________.

Accepted Answer

A)   Customers
B)   Suppliers
C)   Key stakeholders
D)   The accounting group
E)   The finance areaF) All of the above
G) A) and B)

Question 20

A Gantt chart or PERT chart is used in planning to _________.

Accepted Answer

A)   Visualize the timing and completion of action plans
B)   Do time management studies of various activities
C)   Time things to the second to know when they are to be done
D)   Eliminate overages to maximize cost savings
E)   All of the aboveF) A) and E)
G) B) and E)

Exam 19: The Marketing Dashboard: Metrics for Measuring Marketing Performance

Hendricks understands that customers are an important aspect to his firm's bottom-line, but he is very focused on profits.What concept would help Hendricks understand his need to switch from a focus on profits to a focus on the long-term health of his customer relationships?

Correct Answer
verified
Customer Lifetime Value (CLV)Overall, CL...
View Answer

Electra Electrical Motors has sales people all over the U.S.They ask each member of the sales team once a year to make a forecast of their expectations with respect to what they plan to sell.This is known as the ____________.

Correct Answer
verified

Analytical factors include all except ____________.

Correct Answer
verified

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

Correct Answer
verified

Situational factors include all except ____________.

Correct Answer
verified

One technique of forecasting is called the Moving Average.In this method rather than using last years sales as the forecast, ___________.

Correct Answer
verified
A

Bumblebee Baby has just released a new line of environmentally baby products.It would like to determine how the new line is penetrating the market, how should managers go about doing this?

Correct Answer
verified
They need to determine their market shar...
View Answer

Everyone calculates ROMI the same so when one corporate executive talks about the concept other people know what his or her measurement is.

Correct Answer
verified

Sales force effectiveness is a measure of market performance by a company that focuses on how well the sales force does with respect to __________ in relationship to sales.

Correct Answer
verified

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

Correct Answer
verified

The emphasis in regression analysis is not to isolate all factors that affect sales but simply to identify those that have _________ on sales and then to estimate the magnitude of the impact.

Correct Answer
verified

The Apollo project, a joint venture of Nielsen and Arbitron, found that people exposed for several months of advertising for mid to large brands responded by ____________.

Correct Answer
verified
C

Lorena is the marketing manager for Up in Lights, a large-scale sign manufacturer.She is trying to determine the best forecast for her marketing plan.What questions does she need to answer in order to choose the best method?

Ultimately, the marketing manager must rely upon _________ in making the forecasting decision.

Correct Answer
verified

One of the most important measures for on-line measurement is click through rate in that it measures the final sale in the process.

Correct Answer
verified

Forester Outwear is planning on releasing a new tent for the camping season.How would it use cannibalization rates?

Correct Answer
verified
Cannibalization rates represent an impor...
View Answer

The budgeting method is constraining because it relies on gross revenue is known as the ______________ method.

Correct Answer
verified

Jaylin is working on forecasting next year's sales for her mail order holiday wreath company.She simply states that next year's sales will be equal to this year's sales.Jaylin is using a simplistic form of which forecasting analysis?

Correct Answer
verified
Approaches to forecasting using time-ser...
View Answer

There are times that marketers forgets that marketing is not just a department and they fail to market the dashboard to __________.

Correct Answer
verified

A Gantt chart or PERT chart is used in planning to _________.

Correct Answer
verified

Exam 19: The Marketing Dashboard: Metrics for Measuring Marketing Performance

Hendricks understands that customers are an important aspect to his firm's bottom-line, but he is very focused on profits.What concept would help Hendricks understand his need to switch from a focus on profits to a focus on the long-term health of his customer relationships?

Correct AnswerverifiedCustomer Lifetime Value (CLV)Overall, CL...View AnswerShow Answer

Electra Electrical Motors has sales people all over the U.S.They ask each member of the sales team once a year to make a forecast of their expectations with respect to what they plan to sell.This is known as the ____________.

Correct AnswerverifiedShow Answer

Analytical factors include all except ____________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Situational factors include all except ____________.

Correct AnswerverifiedShow Answer

One technique of forecasting is called the Moving Average.In this method rather than using last years sales as the forecast, ___________.

Correct AnswerverifiedA

Bumblebee Baby has just released a new line of environmentally baby products.It would like to determine how the new line is penetrating the market, how should managers go about doing this?

Correct AnswerverifiedThey need to determine their market shar...View AnswerShow Answer

Everyone calculates ROMI the same so when one corporate executive talks about the concept other people know what his or her measurement is.

Correct AnswerverifiedShow Answer

Sales force effectiveness is a measure of market performance by a company that focuses on how well the sales force does with respect to __________ in relationship to sales.

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

The emphasis in regression analysis is not to isolate all factors that affect sales but simply to identify those that have _________ on sales and then to estimate the magnitude of the impact.

Correct AnswerverifiedShow Answer

The Apollo project, a joint venture of Nielsen and Arbitron, found that people exposed for several months of advertising for mid to large brands responded by ____________.

Correct AnswerverifiedC

Lorena is the marketing manager for Up in Lights, a large-scale sign manufacturer.She is trying to determine the best forecast for her marketing plan.What questions does she need to answer in order to choose the best method?

Ultimately, the marketing manager must rely upon _________ in making the forecasting decision.

Correct AnswerverifiedShow Answer

One of the most important measures for on-line measurement is click through rate in that it measures the final sale in the process.

Correct AnswerverifiedShow Answer

Forester Outwear is planning on releasing a new tent for the camping season.How would it use cannibalization rates?

Correct AnswerverifiedCannibalization rates represent an impor...View AnswerShow Answer

The budgeting method is constraining because it relies on gross revenue is known as the ______________ method.

Correct AnswerverifiedShow Answer

Jaylin is working on forecasting next year's sales for her mail order holiday wreath company.She simply states that next year's sales will be equal to this year's sales.Jaylin is using a simplistic form of which forecasting analysis?

Correct AnswerverifiedApproaches to forecasting using time-ser...View AnswerShow Answer

There are times that marketers forgets that marketing is not just a department and they fail to market the dashboard to __________.

Correct AnswerverifiedShow Answer

A Gantt chart or PERT chart is used in planning to _________.

Correct AnswerverifiedShow Answer

Correct Answer
verified
Customer Lifetime Value (CLV)Overall, CL...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified
They need to determine their market shar...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Cannibalization rates represent an impor...
View Answer

Correct Answer
verified

Correct Answer
verified
Approaches to forecasting using time-ser...
View Answer

Correct Answer
verified

Correct Answer
verified