51. A marketing plan and a marketing strategy mean the same thing. True False
52. A marketing strategy and all the time-related details for carrying out the strategy is a “marketing
BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank
BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank
plan.” True False
BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank
BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank
53. A marketing plan is a written statement of a marketing strategy and the time-related details for carrying out the strategy. True False
54. Implementation means putting the marketing plan into operation. True False
55. Short-run decisions that stay within the overall guidelines set during strategy planning are called implementation decisions. True False
56. Marketing strategy planning should specify all of the operational decisions to implement the plan. True False
57. Companies such as Campbell’s can only implement one marketing strategy at a time. True False
58. Most companies implement only one marketing strategy at a time. True False
59. A marketing program blends all of the firm’s marketing plans into one “big” plan and is the responsibility of the whole company. True False
60. A “marketing program” blends all of a firm’s marketing plans into one “big” plan. True False
61. A marketing program may consist of several marketing plans. True False
62. Customer lifetime value is the total stream of purchases that a customer could contribute to the company over the length of the relationship. True False
63. Customer lifetime value is the expected earnings stream (profitability) of a firm’s current and prospective customers over some period of time. True False
64. Customer lifetime value involves a financial analysis that considers all of a customer’s purchases over their lifetime. True False
65. When a salesperson considers not only the sale they are making today, but all potential future sales to a customer, the salesperson recognizes a customer’s lifetime value. True False
66. A successful marketing program benefits the firm by increasing customer equity. True False
67. A marketing program should lower customer equity. True False
68. One way to increase customer equity is to find cost-effective ways to serve current customers so they buy more. True False
69. One way to increase customer equity is to find cost-effective ways to add new customers for the firm’s products. True False
BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank
BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank
70. The best way to increase customer equity is to find cost-effective ways to increase earnings from current customers while bringing profitable new customers into the fold. True False
71. An extremely good plan might be carried out badly and still be profitable, while a poor but well implemented plan can lose money. True False
72. The U.S. auto industry has become much more marketing-oriented since Henry Ford introduced the Model T. True False
73. Many U.S. automakers have failed because they were not marketing oriented. True False
74. Managers who embrace the marketing concept realize that they cannot just define their line of business in terms of the products they currently produce or sell. True False
75. The single most important factor in screening possible marketing opportunities is the long-run trends facing the company. True False
