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Marketing Managers Accountability Impacts

Marketing Managers Accountability Impacts

Instructions

  • Marketing Managers are accountable for the impact of their actions on profit and cash flow. Therefore, they need a working knowledge of basic accounting and finance concepts. What information would you tell a NEW Marketing Manager that they need to understand in regard to the above statement?
  • What is segmenting and targeting and why are they important to use in Marketing?
  • A Breakeven Analysis is a powerful management tool, and one that is critical in planning, decision–making, and expense control. It can be invaluable in determining whether to buy or lease, expand into a new area, build a new plant, and many other such considerations.TorF
  • According to the segmentation process, a market segment should be:
  1. Measurable.
  2. Differentiable.
  3. Accessible.
  4. Substantial.
  5. ALL OF THE ABOVE.
  6. NONE OF THE ABOVE.
  • What specifically is a break–even analysis and how is this tool important in our marketing efforts?
  • What is a SWOT Analysis and how might a Marketing Manager utilize this in their efforts?
  • To really understand the answers to questions like, “Which customers are most profitable?Is the commission orbonus structure in each sales area fair and consistent?What products are providing the best return?AMarketing Manager better get acquainted with an important, yet simple tool called –Contribution Analysis.Tor F(8) Please explain what is meant by a market opportunity analysis:

  • What are the key components in a Marketing Plan and how is this used by a Marketing Manager?
  • A marketing mix typically encompasses activities controllable by theorganization. These include the kind of product, service, or idea offered (product strategy), how it will be communicated to buyers (communication strategy), the method for distributing the offering to buyers (channelstrategy), and the amount buyers will payfor the offering (price strategy).TorF
  • What is meant by DECIDE in marketing decision making?
  • The strategic alternatives of a company are influenced by a number of factors. The factors that a Marketing Manager must consider are three types: external, financial, and internal.Tor F
  • Strategic Planning is the process which involves the review of
  1. Market Conditions
  2. Customer Needs
  3. Competitive Strengths and Weaknesses
  4. Sociopolitical, Legal and Economic Conditions
  5. Technological Developments
  6. Resource AvailabilityoALL OF THE ABOVE

NONE OF THE ABOVE

  • What are the 4 things that a Marketing Plan does for an organization –if done correctly?
  • What is meant by segmentation and how can this benefit a company in regards to their marketing efforts?
  • The major benefits to a S.W.O.T Analysis are:oSimple to use.oReduces the costs of strategic planning

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