Marketing Strategy and Audit Concepts: Multiple Choice Assessment

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Marketing Strategy and Audit Concepts: Multiple Choice Assessment•1Which of the following is true regarding a marketing audit?•It focuses on a firm’s macromarketing environment.•It focuses on analysis of those marketing activities that have failed to produce adequate results.•It relies on feedback from company managers for data and opinions.•It identifies the most-needed improvements and incorporates them into a corrective-action plan with short-and long-run steps.•2Marketing effectiveness rating instruments and marketing audits are approaches to•annual-plan control•strategic control•

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profitability control•efficiency control•3______ is an obligation to act in a way expected of a reasonable person.•Duty•Reliance•Litigation•Liability•4The marketing audit reviews six components of the overall marketing arena including the marketingenvironment, marketing strategy, marketing organization, marketing systems, marketing productivity and•marketing control•marketing mix•marketing function

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•marketing development•5The purpose of strategic control is to•examine whether the company is pursuing its best opportunities with respect to markets, products, andchannels•evaluate and improve the spending efficiency and impact of marketing expenditures•examine where the company is making and losing money•understand the efficiency of the sales force, advertising, sales promotion, and distribution•6A marketing audit is typically best conducted by a(n)•internal department•internal marketing executive•outside consultant

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