Marketing Management 3rd Edition - Test Bank

Marketing Management 3rd Edition- Test Bank
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Marketing Management 3rd Edition- Test Bank

Sample Questions
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Chapter 3 Elements of Marketing Strategy, Planning, and Competition

1) From a customer’s perspective, value is the ratio of the bundle of benefits a customer receives
from an offering compared to the costs incurred by the customer in acquiring that bundle of benefits.
Answer: TRUE
Explanation: Value is the ratio of benefits to costs as perceived by the customer.
Difficulty: 1 Easy
Topic: The Concept of Customer Value
Learning Objective: 03-01 Examine the concept of value and the elements and role of the value
chain.
Bloom’s: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2) Value is some type of utility that a company and its products provide for customers.
Answer: FALSE
Explanation: A benefit is some type of utility that a company and its products (and services) provide
its customers, such as form, time, place, and ownership.
Difficulty: 1 Easy
chain.
Bloom’s: Remember
3) Starbucks is known to have shops located in close proximity to enable customers to shop
conveniently. It appears that the coffee shop chain is offering place utility.
Answer: TRUE
Explanation: The three utilities—time, place, and ownership—are created by marketing. They are
created when products are available to customers at a convenient location when they want to
purchase them, and facilities of exchange are available that allow for transfer of the product
ownership from seller to buyer.
Difficulty: 2 Medium
chain.
Bloom’s: Understand
AACSB: Knowledge Application
4) Samsung’s first value proposition when the brand was launched in the United States was price
and functionality.
Answer: TRUE
Explanation: When South Korean-based Samsung first brought its brand to the United States, it
communicated a message that was centered primarily on functionality at a moderate price—a
strategy designed to provide an advantage over pricier Japanese brands.
Difficulty: 1 Easy
chain.
Bloom’s: Remember
5) When a firm communicates the value proposition of its products to customers, the value message
only includes the benefits of the product.
Answer: FALSE
Explanation: When a firm communicates the value proposition of its products to customers, the
value message may include the whole bundle of benefits the company promises to deliver, not just
the benefits of the product itself.
Difficulty: 1 Easy
chain.
Bloom’s: Remember
6) For firms interested in building long-term customer relationships, having satisfied customers is
enough to ensure the relationship is going to last.

Answer: FALSE
Explanation: For years, firms have been preoccupied with measuring customer satisfaction, which
at its most fundamental level means how much the customer likes the product. However, for firms
interested in building long-term customer relationships, having satisfied customers is not enough to
ensure the relationship is going to last.
chain.
7) Outbound logistics refers to the distribution of products.
Answer: TRUE
Explanation: One of the five primary activities in the value chain is outbound logistics—how the firm
transports and distributes the final products to the marketplace.
Difficulty: 1 Easy
chain.
Bloom’s: Remember

8) As long as all activities in the value chain are working well, managers do not need to be
concerned with aligning the activities.
Answer: FALSE
Explanation: CEOs in recent years have been concentrating on aligning the various elements of the
value chain, meaning that all facets of the company are working together to ensure that no snags will
negatively impact the firm’s value proposition.
Difficulty: 1 Easy
chain.
Bloom’s: Remember
9) The last element in the value chain is margin, which refers to profit made by the firm.
Answer: TRUE
Explanation: According to the text, the last element in the value chain is margin, or the profit made
by the firm.
Difficulty: 1 Easy
chain.
Bloom’s: Remember

10) At the strategic level, marketing (little m) serves as the driver of business strategy.
Answer: FALSE
Explanation: At the strategic level, Marketing (Big M) serves as a core driver of business strategy.
At the functional or operational level, marketing (little m) represents the specific programs and tactics
aimed at customers and other stakeholder groups.
Difficulty: 1 Easy
Topic: The Marketing Plan
Learning Objective: 03-02 Understand the conditions required for successful marketing planning,
that marketing planning is focused on the value proposition, and that marketing planning is a
dynamic process.
Bloom’s: Remember
11) According to the BCG matrix, a business that is classified as a star has high growth and low
market share.
Answer: FALSE
Explanation: According to the BCG matrix, a business that is classified as a star has high growth
and high market share. Stars are important to building the future of the business and deserving any
needed investment.

dynamic process.
12) According to the BCG matrix, a business that is classified as a dog has high growth and high
market share.
Answer: FALSE
Explanation: According to the BCG matrix, a business that is classified as a dog has low growth and
low market share. Dogs are potential high cash users and prime candidates for liquidation.
dynamic process.
13) The GE Business Screen portfolio model evaluates businesses on the dimensions of market
attractiveness and business position.
Answer: TRUE
Explanation: The GE Business Screen is a more realistic and complex portfolio model. It also
evaluates the business on two dimensions—market attractiveness and business position, which
refers to its ability to compete.
Difficulty: 1 Easy
dynamic process.
Bloom’s: Remember
14) In the GE Business Screen model, the business position dimension looks at factors like
government regulations, sensitivity to economic trends, and size of the market.
Answer: FALSE
Explanation: The GE Business Screen is a more realistic and complex portfolio model. It also
evaluates the business on two dimensions—market attractiveness and business position, which
refers to its ability to compete. Market attractiveness looks at factors like government regulations,
sensitivity to economic trends, and size of the market.
Difficulty: 1 Easy
dynamic process.
Bloom’s: Remember
15) A mission statement does NOT include a discussion of the firm’s strategic vision.
Answer: FALSE
Explanation: A mission statement identifies the scope of a company’s operations, products, and
markets. Most mission statements also include a discussion of what the company would like to
become in the future—its strategic vision.
Difficulty: 1 Easy
dynamic process.
Bloom’s: Remember
16) Goals are broad statements of generally desired accomplishments in support of the firm’s
mission statement.
Answer: TRUE
Explanation: Goals, general statements of what the firm wishes to accomplish in support of the
mission and vision, eventually become refined into specific, measurable, and (hopefully) attainable
objectives for the firm.
Difficulty: 1 Easy
dynamic process.
Bloom’s: Remember
17) Strategy has two key phases: formulation and execution.
Answer: TRUE
Explanation: Strategy has two key phases: formulation (or development) and execution. And it
occurs at multiple levels in the firm: corporate level, SBU (or business) level, and functional level
(marketing, finance, operations, etc.).
Difficulty: 1 Easy
Topic: Organizational Strategies
Learning Objective: 03-03 Identify various types of organizational strategies.
Bloom’s: Remember
18) Companies in some business cultures based outside the United States seem to have less
pressure to achieve high levels of growth.
Answer: TRUE
Explanation: Sometimes for reasons related to the competitive landscape or resource constraints,
the best generic strategy for a firm may not actually be growth but stability or retrenchment instead.
Interestingly, the pressure to constantly achieve accelerated growth is much less intense in many
business cultures outside the United States.
Difficulty: 1 Easy
Topic: Competing in Various Markets
Bloom’s: Remember
AACSB: Diversity
19) A firm’s competitive strategy leads it to decide if it can grow and if not, how to survive through
stability or retrenchment.

Answer: FALSE
Explanation: A firm’s generic strategy is its overall directional strategy at the business level.
Fundamentally, all firms must decide whether they wish to (or are able to) grow, and if not, how they
can survive through stability or retrenchment.
20) Internal environmental factors are all under the firm’s control.
Answer: TRUE
Explanation: Internal environmental factors include the firm’s structure and systems, culture,
leadership, and various resources, all of which are under the firm’s control.
Difficulty: 1 Easy
Learning Objective: 03-04 Conduct a situation analysis.
Bloom’s: Remember
21) Market penetration strategies allow the firm to introduce new products to new customers, often
including international markets.

Answer: FALSE
Explanation: Market penetration strategies involve investing in existing customers to gain additional
usage of existing products. Market development strategies allow for expansion of the firm’s product
line into heretofore untapped markets, often internationally.
22) Market development strategies allow a firm to invest additional resources to have existing
customers consume new products.
Answer: FALSE
Explanation: Market development strategies allow for expansion of the firm’s product line into
heretofore untapped markets, often internationally. Product development strategies recognize the
opportunity to invest in new products that will increase usage from the current customer base.

23) When Christy developed her marketing plan for her new store, she kept in mind that conditions
can change, so her plan would also change. This demonstrates the importance of staying strategic,
but also staying on top of the tactical, in the tips for a successful marketing planning experience.
Answer: FALSE
Explanation: This demonstrates the tip, stay flexible. Don’t forget that marketing plans are not set in
stone.
Learning Objective: 03-05 Use the framework provided for marketing planning, along with the
content in future chapters, to build a marketing plan.
Bloom’s: Apply
24) Joelle bought a new Coach purse for herself as a birthday present. She had never spent that
much on a purse, but decided it was worth it because it was so elegant. This demonstrates how a
customer’s perception of ________ can influence buying behavior.
1. A) exchange
2. B) utility
3. C) place
4. D) competition
5. E) value

Answer: E
Explanation: Value was defined from a customer’s perspective as a ratio of the bundle of benefits a
customer receives from an offering compared to the costs incurred by the customer in acquiring that
bundle of benefits.

chain.
Bloom’s: Apply
25) Form utility is ________.
1. A) marketing’s task in creating an offering that has value

2. B) production’s task in creating an offering that is desired by the market
3. C) the firm’s task in deciding where to distribute the product
4. D) created when products are available to customers at a convenient location
5. E) that which allows for transfer of the product ownership from seller to buyer

Answer: B
Explanation: Form utility is created when the firm converts raw materials into finished products that
are desired by the market. The other three utilities— time, place, and ownership—are created by
marketing.
chain.
26) Although Michael knew he couldn’t really afford the Mercedes, he wanted it anyway. The want-
satisfying power of a good is called ________.
1. A) exchange
2. B) value
3. C) necessity
4. D) strategy
5. E) utility

Answer: E
Explanation: Utility is the want-satisfying power of a good or service. Four major kinds of utility exist:
form, time, place, and ownership.
chain.
Bloom’s: Apply
27) Utility created when a firm converts raw materials into finished products that are desired by the
market is called ________ utility.
1. A) time
2. B) form
3. C) place
4. D) ownership
5. E) price

Answer: B
Explanation: Four major kinds of utility exist: form, time, place, and ownership. Form utility is
created when a firm converts raw materials into finished products that are desired by the market.
Difficulty: 1 Easy
chain.
Bloom’s: Remember

28) Which of the following is TRUE of utility?
1. A) The three utilities—form, price, and ownership—are created by marketing.

2. B) Utility is defined as a ratio of benefits to costs, as viewed from the eyes of the beholder.
3. C) Form utility is created when products are available to customers at a convenient location.
4. D) The four major kinds of utility are form, time, place, and ownership.
5. E) Place utility is created when the firm converts raw materials into finished products that are desired
by the market.

Answer: D
Explanation: Utility is the want-satisfying power of a good or service. Four major kinds of utility exist:
form, time, place, and ownership. Form utility is created when the firm converts raw materials into
finished products that are desired by the market. The other three utilities— time, place, and
ownership—are created by marketing.
chain.
29) The concept of the value chain was created by ________.
1. A) Fred Wiserma
2. B) Michael Porter
3. C) Jim Collins
4. D) Peter Drucker
5. E) David Hunger

Answer: B
Explanation: Created by Michael Porter in his classic book Competitive Advantage, the value chain
serves as a means for firms to identify ways to create, communicate, and deliver more customer
value within a firm.
Difficulty: 1 Easy
chain.
Bloom’s: Remember
30) Which of the following is NOT one of the five primary activities in the value chain?
1. A) inbound logistics
2. B) operations
3. C) technology procurement
4. D) outbound logistics
5. E) marketing and sales

Answer: C
Explanation: The five primary activities in the value chain are inbound logistics, operations,
outbound logistics, marketing and sales, and service.
Difficulty: 1 Easy
chain.
Bloom’s: Remember

31) A window manufacturer has trouble getting glass for its high-end windows. Of the
five primary activities in the value chain, this problem is most likely to occur in ________.
2. B) operations
3. C) outbound logistics
4. D) marketing and sales
5. E) service

Answer: A
Explanation: Porter’s nine value-creating activities include five primary activities and four support
activities. Of the five primary activities in the value chain, inbound logistics deals with how the firm
goes about sourcing raw materials for production.
chain.
32) Sean attributes the success of his video game arcade to advertising on the most popular website
for gamers. Recently, the website raised ad prices, so Sean has cut his advertising in half. He
believes that positive word-of-mouth will be enough now that his game is well established. However,
sales are slipping. Of the five primary activities in the value chain, this problem is most likely to occur
in ________.
2. B) operations
5. E) service

Answer: D
activities. Of the five primary activities in the value chain, marketing and sales deal with how the firm
communicates the value proposition to the marketplace.
Difficulty: 3 Hard
chain.
Bloom’s: Apply
33) Dave is a close-up magician who is famous for his card tricks. He creates and sells DVDs of his
magic tricks. Lately he has been having some trouble getting the DVDs produced in a timely
manner. Of the five primary activities in the value chain, this problem is most likely to occur in
________.
2. B) operations
5. E) service

Answer: B
activities. Of the five primary activities in the value chain, operations deal with how the firm converts
the raw materials into final products.
Difficulty: 3 Hard
chain.
Bloom’s: Apply

34) Mark and Gregory are partners in a manufacturing firm that employs over 1,500 people.
Recently, employees have been complaining that they were not told of changes in health insurance
coverage and premiums. To which of the following support activities of the value chain can this
problem be attributed?
1. A) firm infrastructure
2. B) human resource management
3. C) technology development
4. D) inbound logistics
5. E) procurement

Answer: B
activities. Of the four support activities in the value chain, human resource management deals with
how the firm ensures it has the right people in place, trains them, and keeps them.
Difficulty: 3 Hard
chain.
Bloom’s: Apply
35) Mammoth Foods, a major agricultural corporation, recently purchased MJS Organic Foods Co.
MJS was established six years ago and has become a major supplier to restaurants in the
northeastern United States. The organic herbs, vegetables, and fruit market is expected to have a
double-digit growth rate over the next decade. Under the Boston Consulting Group (BCG) Growth-
Share Matrix, MJS would most likely be classified as a ________.
1. A) star
2. B) cash cow
3. C) dog
4. D) problem child
5. E) top gun

Answer: A
Explanation: Under the Boston Consulting Group Growth-Share Matrix, stars are characterized by
high share and high growth and are important to building the future of the business and deserving
any needed investment.
Difficulty: 3 Hard
dynamic process.
Bloom’s: Apply
36) In the BCG matrix, ________ are characterized by high share and low growth and are the key
sources of internal cash generation for a firm.
1. A) stars
2. B) cash cows
3. C) dogs
4. D) problem children
5. E) top guns

Answer: B
Explanation: The concept of the BCG approach to portfolio analysis is to position each SBU within a
firm on the two-dimensional matrix. In the BCG matrix, cash cows are characterized by high share
and low growth and are the key sources of internal cash generation for a firm.
dynamic process.
37) In the BCG matrix, firms categorized as problem children are characterized by ________.
1. A) high share and high growth
2. B) low share and low growth
3. C) high share and low growth
4. D) low share and high growth
5. E) moderate share and moderate growth

Answer: D
Explanation: In the BCG matrix, firms categorized as problem children, or question marks, are
characterized by low share and high growth. They are the high cash needs that, if properly nurtured,
can convert into stars.
dynamic process.
38) Lately the demand for building materials has dropped due to the slowdown in new housing
construction. Woods Corp. is thinking of closing its fine wood division that produces mahogany and
cherry lumber for building cabinets and other applications. Under the Boston Consulting Group
Growth-Share Matrix, the fine wood division would most likely be classified as a ________.
1. A) star
2. B) cash cow
3. C) dog
4. D) problem child
5. E) top gun

Answer: C
Explanation: Under the Boston Consulting Group Growth-Share Matrix, dogs are characterized by
low share and low growth. They are potential high cash users and prime candidates for liquidation.
Difficulty: 3 Hard
dynamic process.
Bloom’s: Apply
39) Hot and Cold Corp. makes disposable coffee and soft drink cups for use in fast-food restaurants,
hospitals, convenience stores, and the like. The company is working on a sturdy new product that
will biodegrade within five years of being put in a landfill. According to the BCG matrix, this promising
new product line would most likely be classified as a ________.
1. A) star
2. B) cash cow
3. C) dog
4. D) problem child
5. E) question mark

Answer: A
Explanation: Under the Boston Consulting Group Growth-Share Matrix, stars are characterized by
high share and high growth and are important to building the future of the business and deserving
any needed investment.
Difficulty: 3 Hard
dynamic process.
Bloom’s: Apply
40) Green Scene Co., a struggling start-up firm that needs a huge cash injection, has an
environmentally friendly pesticide that is approved for use by commercial organic farmers. The
pesticide is made from all-natural ingredients and has great potential. A small investment firm has
injected cash in Green Scene. In the context of the BCG matrix, Green Scene is most likely
considered a ________.
1. A) star
2. B) cash cow
3. C) dog
4. D) question mark
5. E) top gun

Answer: D
Explanation: Under the Boston Consulting Group Growth-Share Matrix, problem children or
question marks are characterized by low share and high growth. They are high cash needs that, if
properly nurtured, can convert into stars.
Difficulty: 3 Hard
dynamic process.
Bloom’s: Apply
41) Mega-Big Corp. has a small strategic business unit (SBU) that produces a component vital to the
manufacturers of automobiles and has been extremely profitable for 18 years. The SBU acts as a
key source of income for the firm. In the context of the BCG matrix, Mega-Big Corp. is most likely
considered a ________.
1. A) question mark
2. B) cash cow
3. C) dog
4. D) problem child
5. E) top gun

Answer: B
Explanation: Under the Boston Consulting Group Growth-Share Matrix, cash cows are
characterized by high share and low growth and are key sources of internal cash generation for the
firm.
Difficulty: 3 Hard

dynamic process.
Bloom’s: Apply
42) Mega-Big Corp. is interested in buying Soft works, a medical software firm. Soft works is highly
regarded by medical practices for ease of use, but hasn’t sold well. Two software engineers started
the company, but they have made risky financial and poor management decisions. Mega Corp.
believes that with proper management the software firm will become an industry leader. In the
context of the BCG matrix, Soft works is most likely considered a ________.
1. A) star
2. B) cash cow
3. C) dog
4. D) problem child
5. E) top gun

Answer: D
Explanation: Under the Boston Consulting Group Growth-Share Matrix, problem children or
question marks are characterized by low share and high growth. They are high cash needs that, if
properly nurtured, can convert into stars.
Difficulty: 3 Hard
dynamic process.
Bloom’s: Apply
43) Which of the following is NOT included in the business position factors of the GE Business
Screen?
1. A) organization
2. B) growth
3. C) patents
4. D) governmental regulations
5. E) marketing

Answer: D
Explanation: The GE Business Screen evaluates the business on two dimensions—market

attractiveness and business position, which refers to its ability to compete. Factors of business
position include organization, growth, market share by segment, customer loyalty, margins,
distribution, technology skills, patents, marketing, and flexibility, among others.
Difficulty: 1 Easy
dynamic process.
Bloom’s: Remember
44) A ________ articulates an organization’s reason for existence and defines the unique purpose
that sets it apart from competitors and identifies the scope of the company’s operations, products,
and markets.
1. A) mission statement
2. B) functional-level plan
3. C) value chain
4. D) marketing strategy
5. E) value proposition

Answer: A
Explanation: A mission statement articulates an organization’s purpose, or reason for existence. A

well-conceived mission statement defines the fundamental, unique purpose that sets a company
apart from other firms of its type and identifies the scope of a company’s operations, products, and
markets.
Difficulty: 1 Easy

dynamic process.
Bloom’s: Remember
45) Which of the following is considered an objective?
1. A) to deliver the best customer service

2. B) to practice responsible financial management
3. C) to increase revenue by 15 to 20 percent in each of the next five years
4. D) to hire the best people
5. E) to minimize waste

Answer: C
dynamic process.
46) Which of the following is most likely to be considered a goal rather than an objective?
1. A) to improve customer satisfaction ratings to 95 percent

2. B) to increase ROI by 20 percent
3. C) to be the leader in one’s field
4. D) to reduce the cost of scrap material to less than one percent of total manufacturing cost
5. E) to get five new distributors

Answer: C
dynamic process.
47) Growth, stability, and retrenchment refer to a firm’s position relating to its ________ strategy.
1. A) specific
2. B) generic
3. C) future
4. D) diversification
5. E) differentiation

Answer: B
can survive through stability or retrenchment.
Difficulty: 1 Easy
Bloom’s: Remember
48) The Hernandez brothers manufacture trailers that are used by lawn service companies. The
company was started in Texas by their father with one production site and four sales and service
locations. Since the sons took over, they have expanded in the last 12 years to include 26 sales and
service centers throughout the southeast. In this case, the company is most likely using
a generic business strategy based on ________.
1. A) retrenchment
2. B) stability
3. C) product differentiation
4. D) diversification
5. E) growth

Answer: E
can survive through stability or retrenchment. Growth may be in the form of sales, market share,
assets, profits, or some combination of these and other factors.
Difficulty: 3 Hard
Bloom’s: Apply
49) Go Fish Sushi restaurants are primarily located in malls. The restaurants had rapid growth in
their first seven years. The owner realizes that adding more restaurants would make it impossible to
monitor operations. Therefore, he decides to continue current activities without making major
changes. In this case, the owner is most likely pursuing a generic strategy of ________.
1. A) retrenchment
2. B) stability
3. C) diversification
4. D) growth

Answer: B
can survive through stability or retrenchment. The strategy to continue current activities with little
significant change in direction may be appropriate for a successful organization operating in a
reasonably predictable environment. It can be useful in the short term but potentially dangerous in
the long term, especially if the competitive landscape changes.
Difficulty: 3 Hard
Bloom’s: Apply
50) Zenith Homebuilders used to purchase many building lots and erect spec homes (i.e., it gambled
that the demand for new houses would be so high that they would sell easily). Since the real estate
slowdown, it builds homes only when owners are under contract. In this case, the company is most
likely pursuing a generic business strategy of ________.
1. A) retrenchment
2. B) stability
3. C) diversification
4. D) growth

Answer: A
Explanation: An organization in a weak competitive position in some or all of its product lines,
resulting in poor performance and pressure on management to quickly improve, may pursue
retrenchment. Essentially, retrenchment involves pulling assets out of underperforming parts of the
business and reinvesting in aspects of the business with greater future performance potential.
Difficulty: 3 Hard
Bloom’s: Apply

51) The activities a firm does better than its competitors are known as ________.
1. A) core competencies
2. B) strategic alignment
3. C) distinctive competencies
4. D) growth indicators
5. E) competitive indicators

Answer: C
Explanation: Core competencies are the activities the firm can do exceedingly well. When these
core competencies are superior to those of competitors, they are called distinctive competencies.
52) Which of the following is NOT one of the four strategic types of firms proposed by Miles and
Snow?
1. A) prospectors
2. B) analyzers
3. C) defenders
4. D) reactors
5. E) compromisers

Answer: E
Explanation: Miles and Snow propose several categories of firms within any given industry based on
strategic type. Four strategic types are prospectors, analyzers, defenders, and reactors—depending
on a firm’s approach to the competitive marketplace.
Difficulty: 1 Easy
Bloom’s: Remember
53) Today many retailers create apps that customers can download to their smartphones or tablets
to be up-to-date on the company’s offerings. In the context of situation analysis, which of the
following macro-level external environmental factors does this exemplify?
1. A) Economic factors
2. B) Natural factors
3. C) Technological factors
4. D) Political, legal, ethical factors
5. E) Sociocultural/demographic factors

Answer: C
Explanation: Constantly emerging and evolving technologies impact business in many ways. The
goal is to try to understand the future impact of technological change so a firm’s products will
continue to be fresh and viable.

54) According to the 2010 U.S. Census, Asian Americans are a high-income, fast-growing racial
group in America. In the context of situation analysis, under which of the following macro-level
external environmental factors will this be included?
1. A) natural factors
2. B) legal and ethical issues
3. C) technological advancements
4. D) sociocultural/demographic factors
5. E) firm structure and systems

Answer: D
Explanation: Trends among consumers and in society as a whole impact marketing planning
greatly. Many such trends are demographic in nature, including changing generational preferences
and the rising buying power of minority groups domestically and consumers in developing nations in
the global marketplace. JetBlue jumped on the video game trend among children and teens by
providing in-seat games, much to the delight of parents who no longer have to entertain the kids for
the duration of the flight.
55) Automobile manufacturers must comply with regulations set by the National Transportation and
Safety Board. In the context of situation analysis, which of the following macro-level external
environmental factors does this exemplify?
1. A) sociocultural/demographic
2. B) firm structure and systems
3. C) political, legal, and ethical
4. D) firm resources
5. E) threat of new entrants

Answer: C
Explanation: In the context of situation analysis, major categories for analysis within the external
environment include political, legal, and ethical factors. All firms operate within certain rules, laws,
and norms of operating behavior. For example, JetBlue has myriad regulations administered by the
Federal Aviation Administration, the National Transportation Safety Board, and the Transportation
Security Administration.
Marketing Management, 3e (Marshall)

Chapter 5 CRM, Big Data, and Marketing Analytics

1) Positioning customer relationship management (CRM) as a comprehensive business model
provides the impetus for top management to properly support it over the long run.
Answer: TRUE
Explanation: Positioning CRM as a comprehensive business model provides the impetus for top
management to properly support it over the long run and for various internal stakeholder groups to
have the opportunity to both use it and impact how it is used.
Difficulty: 1 Easy
Topic: The CRM Process Cycle
Learning Objective: 05-01 Define CRM and articulate its objectives and capabilities.
Bloom’s: Remember
2) It is possible today to calculate the total financial returns for each customer.

Answer: TRUE
Explanation: It is possible to actually calculate an estimate of the projected financial returns from a
customer, or return on customer investment (ROCI), over the long run.
3) Customer satisfaction and customer loyalty, two metrics used by brand managers, are metrics
used in customer relationship management.
Answer: TRUE
Explanation: Customer satisfaction and loyalty are two extremely popular metrics used by marketing
managers to gauge the health of their business and brands.
Difficulty: 1 Easy
Bloom’s: Remember
4) One major objective of CRM is customer replacement.

Answer: FALSE
Explanation: The three major objectives of CRM are customer acquisition, customer retention, and
customer profitability.
Difficulty: 1 Easy
Bloom’s: Remember
5) Marketing planning is the first phase of the customer relationship management (CRM) process
cycle.
Answer: FALSE
Explanation: Knowledge discovery is the first phase of the customer relationship management
(CRM) process cycle.
Difficulty: 1 Easy
Learning Objective: 05-02 Describe the CRM process cycle.
Bloom’s: Remember
6) Data mining helps in segmenting customers in order to target key markets.
Answer: TRUE
Explanation: Data mining is a sophisticated analytical approach to using the massive amounts of
data accumulated through the CRM system to develop segments and micro-segments of customers
for purposes of either market research or development of market segmentation and target marketing
strategies.
7) When a salesperson calls on a prospect and meets face to face, it is an example of an interactive
touchpoint.
Answer: TRUE
Explanation: Some touchpoints are interactive and allow for such two-way information exchange.
That is, they involve direct interface between a customer and a firm’s customer contact person in the
form of a salesperson, telemarketer, customer service representative, interactive website, and so on.
Topic: Consumer Touchpoints in CRM
Learning Objective: 05-03 Understand the concept of customer touchpoints and why touchpoints
are critical in CRM.

8) When a customer willingly gives a company sensitive information, such as a social security
number, the company is not responsible for the security of this information.
Answer: FALSE
Explanation: In many industries, firms having access to sensitive customer information, such as
social security numbers, necessitates more heavy regulation of information usage (financial services
is a good example). In such cases, firms may be required to communicate the different ways that
customers’ personal information may be used and which of those potential uses a customer can opt
out of. In addition, marketing managers must consider regulatory requirements, which may impose
constraints such as what information can be conveyed to the firm within a given marketing campaign
or at any touchpoint. For any firm that collects large amounts of data through CRM, customers’
perceptions of the organization’s ability to securely handle and protect information can substantially
influence trust.
Topic: The Marketing Dashboard
9) Increasing formalization of customer analysis processes is a component of a customer-centric

culture.
Answer: TRUE
Explanation: The effort a firm makes toward cultivating a customer-centric culture requires a high
degree of formalization within the firm

10) The four Vs of Big Data are volume, velocity, variety, and visibility.
Answer: FALSE
Explanation: Four characteristics generally characterize Big Data; taken together, these
characteristics are commonly referred to as the four Vs of Big Data: volume, velocity, variety, and
veracity.
Difficulty: 1 Easy
Learning Objective: 05-04 Identify and appreciate the types of data used in marketing management
decision making.
Bloom’s: Remember
11) Data in a spreadsheet is considered unstructured data.
Answer: FALSE
Explanation: Structured data is typically either numeric or text that is substantially limited to a certain
set of input values. This is the type of data that is generally found in relational databases or
spreadsheets such as Microsoft Excel or Google Sheets; it is generally organized into tables with
columns that make it clear what types of information will be included in each of the entries within a
given column.
decision making.
12) A POS system is in use when you go to a grocery store and your transaction is collected at the
cash register so companies can analyze your purchase behavior.
Answer: TRUE
Explanation: The collection of transaction data from customers through point-of-sales (POS)
systems in retail locations, as well as online transaction processing systems, can be tied to other rich
information about a customer and used to determine that customer’s relative value.
decision making.
13) Cross-promotional opportunities are a benefit of collecting data from mobile apps.
Answer: TRUE
Explanation: Data generated from a customer’s use of different mobile applications (apps) can
provide insight into cross-promotional opportunities, in addition to other benefits.
Difficulty: 1 Easy
decision making.
Bloom’s: Remember
14) Marketing analytics is a new concept brought about by the increased use of mobile phones.
Answer: FALSE
Explanation: Marketing analytics is not technically a new concept, but with the explosion of data
available to marketing managers, organizations have become increasingly interested in finding new
ways to extract maximum value from the data that they continue to accumulate.
Difficulty: 1 Easy
Topic: Database Marketing
Learning Objective: 05-05 Recognize key approaches to marketing analytics.
Bloom’s: Remember
15) When the online shore store Zappos collects information on the average dollar amount a
customer spends in a single transaction, it is using descriptive analytics.

Answer: TRUE
Explanation: An approach using descriptive analytics utilizes data to provide summary insights.
Customers who are members of a company’s loyalty program, such as that of the online shoe and
clothing shop Zappos, constitute a rich data source for use in descriptive analytics.
16) Of the four marketing analytics approaches, diagnostic analytics is the most complex.
Answer: FALSE
Explanation: Prescriptive analytics is the most complex, followed by predictive analytics, diagnostic
analytics, and descriptive analytics.
Difficulty: 1 Easy
Bloom’s: Remember
17) Jeremiah wants to find out if the new advertising campaign is positively impacting sales. He is
likely to use diagnostic analytics.

Answer: TRUE
Explanation: Diagnostic analytics provide insights into the relationships of different factors with the
implication being that an understanding of their relationships can have value for future marketing
decisions. In this case, Jeremiah want to find out the relationship between advertising and sales.
Bloom’s: Apply
18) Big Data can be leveraged to optimize the marketing mix.
Answer: TRUE
Explanation: Optimizing the marketing mix is largely dependent on the ability to understand the
different effects that the mix elements have on different marketing outcomes. Big Data has
enhanced this capability by providing customer-level data in quantities that were not available in the
past from sources that provide insights into specific aspects of a customer’s experience with a
product or service that heretofore were not easily measured.
Difficulty: 1 Easy
Bloom’s: Remember

19) It has been demonstrated for some products that exposure to television advertisements
influences the number of brand-specific keyword searches conducted online by customers. In this
instance, the conclusion drawn is based on attribution.
Answer: TRUE
Explanation: Attribution is determining how to give appropriate credit to different elements of the
marketing mix through the measurement of their effects. As long as the organization has access to
the required data on marketing mix elements, marketing analytics should be able to help disentangle
the various effects that both individual elements of the marketing mix and specific combinations of
those elements have on marketing outcomes.
20) About the only thing you know for certain about your first version of a marketing dashboard is
that it will likely look the same in a year or two.
Answer: FALSE
Explanation: About the only thing you know for certain about your first version of a marketing
dashboard is that it will likely look very different in a year or two.
Difficulty: 1 Easy
Learning Objective: 05-06 Understand the concept of a marketing dashboard and how it improves
marketing planning for a firm.
Bloom’s: Remember

21) One potential pitfall of using a dashboard approach to marketing metrics is not insuring that
senior management believe in and understand the dashboard.
Answer: TRUE
Explanation: You want the percentage of senior executives who both believe in and understand
what the dashboard is presenting to be very high.
Difficulty: 1 Easy
Learning Objective: 05-06 Understand the concept of a marketing dashboard and how it improves
marketing planning for a firm.
Bloom’s: Remember
22) Return on marketing investment (ROMI) looks at marketing as an investment, not an expense.
Answer: FALSE
Explanation: ROMI looks at marketing as an expense tied to a percentage of historical or forecasted

sales.
Difficulty: 1 Easy
Topic: Marketing Return on Investment
Learning Objective: 05-07 Explain return on marketing investment (ROMI), including cautions about
its use.
Bloom’s: Remember
23) The expectation is that ROMI and other metrics of marketing performance will begin to decrease
in use, as firms attempt to better quantify marketing’s contribution to various dimensions of
organizational success.
Answer: FALSE
Explanation: In spite of its potential problems, the expectation is that ROMI and other metrics of
marketing performance will continue to proliferate, as firms home in on attempting to better quantify
marketing’s contribution to various dimensions of organizational success.
Topic: Marketing Return on Investment
Learning Objective: 05-07 Explain return on marketing investment (ROMI), including cautions about
its use.
24) Customer relationship management (CRM) is considered critical largely because of ________.
1. A) internal pressure by employees

2. B) external pressure by suppliers and vendors
3. C) competitive pressures in the marketplace
4. D) increasing demand by customers
5. E) revised government regulations

Answer: C
Explanation: Customer relationship management (CRM) is considered mission-critical largely

because of competitive pressures in the marketplace; nobody can afford to be the lone wolf that
does not have a handle on the customer side of an enterprise in a competitive space.
Difficulty: 1 Easy
Bloom’s: Remember
25) What is one of the three major objectives of customer relationship management?
1. A) customer satisfaction
2. B) customer service
3. C) customer loyalty
4. D) customer engagement
5. E) customer acquisition

Answer: E
Explanation: Customer relationship management has three major objectives: customer acquisition,
customer retention, and customer profitability.
Difficulty: 1 Easy
Bloom’s: Remember
26) Customer loyalty is defined as ________.
1. A) retention of satisfied and loyal profitable customers and channels

2. B) the degree to which an individual will resist switching from one offering to another
3. C) the total number of customers who purchase a product
4. D) increased individual customer margins, while offering the right products at the right time
5. E) the likelihood that a customer becomes a buzz marketer

Answer: B
Explanation: Customer loyalty means the degree to which an individual will resist switching, or
defecting, from one offering to another.
27) Customer satisfaction is defined as ________.
1. A) the degree to which an individual will resist switching from one offering to another
2. B) the level at which the offering meets or exceeds a customer’s expectations
3. C) retaining satisfied and loyal profitable customers and channels
4. D) increasing the likelihood that a customer becomes a buzz marketer
5. E) the number of purchases in a defined period of time

Answer: B
Explanation: Customer satisfaction means the level of liking an individual has for an offering—that
is, to what level is the offering meeting or exceeding the customer’s expectations?
Difficulty: 1 Easy
Bloom’s: Remember

28) Which of the following major objectives of customer relationship management relates to
increased individual customer margins, while offering the right products at the right time?
1. A) customer retention
2. B) customer service
3. C) customer acquisition
4. D) customer profitability
5. E) customer loyalty

Answer: D
Explanation: Customer profitability relates to increased individual customer margins, while offering
the right products at the right time.
29) What is one of the four elements of the process cycle for customer relationship management?
1. A) customer interaction
2. B) customer loyalty
3. C) customer satisfaction
4. D) customer support
5. E) customer profitability

Answer: A
Explanation: The process cycle for CRM may be divided into the following four elements: (1)
knowledge discovery, (2) marketing planning, (3) customer interaction, and (4) analysis and
refinement.
Difficulty: 1 Easy

Bloom’s: Remember
30) Customer touch points and data mining are related to which element of the process cycle for
customer relationship management?
1. A) analysis and refinement

2. B) supplier interface
3. C) customer interaction
4. D) knowledge discovery
5. E) marketing planning

Answer: D
Explanation: Customer touch points and data mining are related to the element of knowledge
discovery.
Difficulty: 1 Easy
Bloom’s: Remember
31) In the CRM process cycle, ________ is the process of analyzing the customer information
acquired through various customer touchpoints.

4. D) marketing planning
5. E) knowledge discovery

Answer: E
Explanation: Knowledge discovery is the process of analyzing the customer information acquired
through various customer touch points.
32) Which phase of the process cycle for customer relationship management represents the actual
implementation of the customer strategies and programs?

5. E) marketing planning

Answer: C
Explanation: The customer interaction phase represents the actual implementation of the customer
strategies and programs. This includes the personal selling effort, as well as all other customer-
directed interactions.
33) The ________ phase of the customer relationship management process is where organizational
learning occurs based on customer response to the implemented strategies and programs.

3. C) marketing planning
5. E) customer interaction

Answer: A
Explanation: The analysis and refinement phase of the CRM process is where organizational
learning occurs based on customer response to the implemented strategies and programs.
34) The Juice and Java company uses information from customers who write on its Twitter feed
about its products. This is an example of a(n) ________ touchpoint.
1. A) interactive
2. B) direct interface
3. C) noninteractive
4. D) personal
5. E) nonpersonal

Answer: C
Explanation: Noninteractive touchpoints are those in which the customer may simply provide
information on a static website’s data entry form or by mail, without the capability of simultaneous
direct interface with a company representative.
Bloom’s: Apply
35) To maximize the use of touchpoints, a firm needs to do all of the following EXCEPT________.
1. A) identify all potential touchpoints

2. B) inform customers that you will be using their information
3. C) develop objectives for what to collect at each touchpoint
4. D) determine how information will be collected
5. E) develop policies on how the information will be accessed and used

Answer: B
Explanation: To maximize a firm’s ability to successfully use touchpoints, an ongoing concerted

effort must be undertaken to (1) identify all potential touchpoints, (2) develop specific objectives for
what kind of information can be collected at each touchpoint, (3) determine how that information will
be collected and ultimately integrated into the firm’s overall customer database, and (4) develop
policies on how the information will be accessed and used.
Difficulty: 1 Easy
Bloom’s: Remember

36) Ichiro is a marketing manager at a consumer products company. Ichiro’s company has started
selling consumer information to other sources without informing its customers that it is doing so. This
is referred to as the ________ of CRM.
1. A) added benefit
2. B) dark side
3. C) unintended consequence
4. D) evolution
5. E) legal loophole

Answer: B
Explanation: Customers must be absolutely certain that the information a firm collects and stores
about them will not be used for unintended purposes. Often referred to as the “dark side of CRM,”
this issue has become so prominent in some industries that firms are beginning to publicly promote
guarantees of nonabuse of stored customer information as a means of attracting customers.
Bloom’s: Apply
37) When Target had a data breach that resulted in the loss of the personal information of 40 million
customers, it ________.
1. A) postponed a campaign focused on Target’s corporate citizenship

2. B) refunded purchases to customers made during a two-week period
3. C) sent all customers a gift card to Target stores
4. D) hid the information from its customers
5. E) fired the employee who caused the data breach.

Answer: A
Explanation: Target’s marketing managers had to determine how best to rebuild trust after a
massive data breach that resulted in the loss of the personal information of about 40 million
customers. This also meant quickly altering already planned marketing communication, including
postponing a major campaign focused on Target’s corporate citizenship.
Difficulty: 1 Easy
Bloom’s: Remember
38) Redefining the selling role within the firm to focus on customer business consultation and
solutions is one way that CRM ________.
1. A) increases profits for the firm

2. B) keeps its costs down
3. C) increases the formalization of customer analysis processes
4. D) maintains customer loyalty
5. E) facilitates a customer-centric culture

Answer: E
Explanation: At the strategic marketing level, a customer-centric culture includes redefining the
selling role within the firm to focus on customer business consultation and solutions.

39) ________ means that structure, processes and tools, and managerial knowledge and
commitment are formally established in support of the culture.
1. A) Reliability
2. B) Formalization
3. C) Trust
4. D) Interactivity
5. E) Accommodation

Answer: B
Explanation: Formalization means that structure, processes and tools, and managerial knowledge
and commitment are formally established in support of the culture. With these elements in place,
strategies and programs can be successfully developed and executed toward the goals related to
customers, accompanied by a high degree of confidence they will yield the desired results.
40) When Lucifer joined his company as CEO, he instituted an organization-wide focus on
understanding the requirements of customers, making sure that everyone in the organization
understood the customer marketplace. Lucifer was practicing ________.
1. A) a customer orientation
2. B) an organizational reorganization
3. C) a product reflow
4. D) a human resources policy
5. E) a culture modification

Answer: A
Explanation: Organizations practicing a customer orientation place the customer at the core of all
aspects of the enterprise and: (1) Instill an organization-wide focus on understanding the
requirements of customers. (2) Generate an understanding of the customer marketplace and
disseminate that knowledge to everyone in the firm. (3) Align system capabilities internally so that
the organization responds effectively to customers with innovative, competitively differentiated,
satisfaction-generating products and services.
Bloom’s: Apply
41) A(n) ________ is a person’s belief that understanding and satisfying customers, whether internal
or external to the organization, is central to the proper execution of his or her job.
1. A) personal values system

2. B) organizational buy-in
3. C) consumer practice
4. D) work philosophy
5. E) customer mind-set

Answer: E
Explanation: A customer mind-set, which is a person’s belief that understanding and satisfying
customers, whether internal or external to the organization, is central to the proper execution of his
or her job.
Difficulty: 1 Easy
Bloom’s: Remember

42) ________ refers to the ever-increasing quantity and complexity of data that is continuously being
produced by various technological sources.
1. A) Little data
2. B) Data mining
3. C) Big Data
4. D) A database
5. E) Information overload

Answer: C
Explanation: Big Data refers to the ever-increasing quantity and complexity of data that is
continuously being produced by various technological sources.
Difficulty: 1 Easy
Topic: Current Technologies Used in Market Research
decision making.
Bloom’s: Remember
43) ________ relates to the amount of data produced, which is generally measured in bytes, given
the digital media in which data is most commonly stored.
1. A) Volume
2. B) Velocity
3. C) Variety
4. D) Veracity
5. E) Value

Answer: A
Explanation: Volume relates to the amount of data produced, which is generally measured in bytes,
given the digital media in which data is most commonly stored.
Difficulty: 1 Easy
decision making.
Bloom’s: Remember
44) ________ relates to the frequency at which data is generated over time and the speed at which
it can and should be analyzed and used.
1. A) Volume
2. B) Velocity
3. C) Variety
4. D) Veracity
5. E) Value

Answer: B
Explanation: Velocity relates to the frequency at which data is generated over time and the speed at
which it can and should be analyzed and used.
Difficulty: 1 Easy
decision making.
Bloom’s: Remember
45) ________ relates to the different types of data, including text, video, images, and audio, to name
a few types.
1. A) Volume
2. B) Velocity
3. C) Variety
4. D) Veracity
5. E) Value

Answer: C
Explanation: Variety relates to the different types of data, including text, video, images, and audio,
to name a few types.
Difficulty: 1 Easy
decision making.
Bloom’s: Remember
46) ________ relates to the reliability and validity of the data.
1. A) Volume
2. B) Velocity
3. C) Variety
4. D) Veracity
5. E) Value

Answer: D
Explanation: Veracity relates to the reliability and validity of the data.
Difficulty: 1 Easy
decision making.
Bloom’s: Remember
47) When Keung received the report from the interns who conducted surveys in the mall, he was
concerned that they were not properly trained because the data did not match any of his other
research. Keung was primarily concerned with the ________ of the data.
1. A) volume
2. B) velocity
3. C) variety
4. D) veracity
5. E) value

Answer: D
Explanation: Veracity relates to the reliability and validity of the data.
decision making.
Bloom’s: Apply
48) Bjorn felt that the focus groups did not give him enough quantitative information to make a
decision, so he directed his managers to conduct surveys online and look for secondary research.
Which characteristic of Big Data is Bjorn trying to achieve?
1. A) volume
2. B) velocity
3. C) variety
4. D) veracity
5. E) value

Answer: C
Explanation: Variety relates to the different types of data, including text, video, images, and audio,
to name a few types.
decision making.
Bloom’s: Apply
49) Mr. Evans is a fan of using Big Data because of its ability to generate a large amount of data that
can be organized and quantified. Mr. Evans likes the ________ characteristic of Big Data.
1. A) volume
2. B) velocity
3. C) variety
4. D) veracity
5. E) value

Answer: A
Explanation: Volume relates to the amount of data produced, which is generally measured in bytes,
given the digital media in which data is most commonly stored.
decision making.
Bloom’s: Apply

50) Fred has a sales meeting coming up and he needs to know sales figures by product and by
region as quickly as possible so he can direct his managers on their presentations. Fred needs the
________ characteristic of Big Data.
1. A) volume
2. B) velocity
3. C) variety
4. D) veracity
5. E) value

Answer: B
Explanation: Velocity relates to the frequency at which data is generated over time and the speed at
which it can and should be analyzed and used.
decision making.
Bloom’s: Apply
51) The CFO of BakersMark wasn’t sure about using Big Data, and he couldn’t justify the expense
for collecting and storing it. In this case, he was concerned about the ________ of Big Data.
1. A) volume
2. B) velocity
3. C) variety
4. D) veracity
5. E) value

Answer: E
Explanation: Without a clear idea of the value that can be obtained from Big Data, there is a limited
justification for the expense of its collection and storage.
decision making.
Bloom’s: Apply
52) ________ data refers to data that is generated in such a way that a logical organization is
imposed on it during its generation, thus enabling it to be more readily analyzable for knowledge
creation.
1. A) Big
2. B) Abstract
3. C) Structured
4. D) Unstructured
5. E) Concrete

Answer: C
Explanation: Structured data is generated in such a way that a logical organization is imposed on it
during its generation, thus enabling it to be more readily analyzable for knowledge creation.
decision making.
53) When you complete a form online with your name, address, and credit card information in order
to make a purchase, you are giving the company ________ data that can populate a relational
database or spreadsheet.
1. A) unsecured
2. B) abstract
3. C) structured
4. D) unstructured
5. E) soft

Answer: C
Explanation: Structured data is generated in such a way that a logical organization is imposed on it
during its generation, thus enabling it to be more readily analyzable for knowledge creation. Because
of the method by which this data is collected—separate boxes in a webform—it qualifies as
structured data that can populate a relational database or spreadsheet.
decision making.
54) After staying in a boutique hotel in Chicago, Marissa posted a picture on her Facebook feed and
described how fabulous it was. This kind of information is considered ________ data.
1. A) unsecured
2. B) abstract
3. C) structured
4. D) unstructured
5. E) soft

Answer: D
Explanation: Unstructured data may not be immediately actionable in the way that structured data
is, but it has become the most common form of data available to organizations, and is a potentially
rich source of deep insights on customer behavior and customer/provider relationships. Unstructured
data can include posts that people make on social media.
decision making.
Bloom’s: Apply
55) Tamra was so upset about how she was treated when she went on the Eiffel Tower tour that she
recorded a video rant and posted it on YouTube. This is an example of ________ data.
1. A) unsecured
2. B) abstract
3. C) structured
4. D) unstructured
5. E) soft

Answer: D
Explanation: Unstructured data may not be immediately actionable in the way that structured data
is, but it has become the most common form of data available to organizations, and is a potentially
rich source of deep insights on customer behavior and customer/provider relationships. Unstructured
data may include videos that people make discussing their experiences with products.
decision making.
Bloom’s: Apply

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Explanation: Value is the ratio of benefits to costs as perceived by the customer.

Topic: The Concept of Customer Value

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Concept of Customer Value

AACSB: Knowledge Application

Accessibility: Keyboard Navigation

Topic: The Concept of Customer Value

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Concept of Customer Value

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Concept of Customer Value

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

7) Outbound logistics refers to the distribution of products.

Topic: The Concept of Customer Value

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Concept of Customer Value

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Concept of Customer Value

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Marketing Plan

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Marketing Plan

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Marketing Plan

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Marketing Plan

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Marketing Plan

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Marketing Plan

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

17) Strategy has two key phases: formulation and execution.

Topic: Organizational Strategies

Learning Objective: 03-03 Identify various types of organizational strategies.

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: Competing in Various Markets

Learning Objective: 03-03 Identify various types of organizational strategies.

Accessibility: Keyboard Navigation

Topic: Competing in Various Markets

Learning Objective: 03-03 Identify various types of organizational strategies.

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

Topic: The Marketing Plan