Examining the Infrastructure for Marketing Management
True/False Questions
1.Outsourcing means a company decides what is critical to their business and they then hire others to do the less critical, or core-mission oriented tasks.
2.A core competency is fairly easy for competitors to replicate in a free marketplace.
3.Good mission statements focus on a limited number of goals and define the company's major competitive spheres.
4.A strategic business unit (SBU) has its own set of competitors, distinct from other SBUs in the company.
5.Acquiring a supplier is a growth strategy that is achieved through integration.
6.Microsoft is a huge firm which nonetheless has not lost its ultracompetitive edge. The text attributes this to Microsoft's corporate culture.
7.Scenario analysis uses case studies of actual, historical company events and changes the assumptions related to the outcomes to improve future responses.
8.A proper SWOT analysis will include a market opportunity analysis, or MOA.
9.The SW portion of the SWOT analysis is where the external environments of the business are closely examined.
10.Strategy guru Michael Porter's three "generic" strategies are: cost leadership, diversification, and focus.
11.Part of strategic program implementation is estimating the costs for the desired action.
12.The first steps in managing implementation of a strategy are to break down every program into is component activities and identify the resources required and their associate costs.
13.The late strategy guru Peter Drucker said that for businesses, "doing the things right" was more important than "doing the right thing."
14.A marketing information system consists of the people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
15.Marketing information systems are developed from internal company records, marketing intelligence, and marketing research.
16.The systematic collection, analysis, and reporting of data and findings relevant to specific marketing situation is called marketing research.
17.Small companies can engage in marketing research in a number of creative and affordable ways, including using the Internet or taking advantage of local university students who need business projects.
18.Typically, companies budget about 11-12 percent of company sales for marketing research.
19.The last step in marketing research is developing the research plan.
20.Data published by the government and data purchased from outside suppliers can improve the quality of a company's marketing intelligence efforts.
21.Primary data is generally available more quickly and at a lower cost than secondary data.
22.Primary data are data that were gathered for another purpose and already exist somewhere.
23.Because it is hard to track and verify, behavioral data are less reliable in understanding customer behavior than are customer statements of their behavior.
24.To obtain a representative sample, a probability sample of the population should be drawn.
25.If speed is of the essence for a marketing research project, the best contact methods are either online or telephone interviewing.
26.The disadvantages of using the personal interview method to conduct marketing research are that it is the most expensive method and it is subject to bias and distortion.
Academic requirements:
• Your work should be submitted in the TRUE FALSE formats outlined for each questionin the assignment.