Which of the Following Is True Regarding a Marketing Audit

question 121

Multiple Choice

Which of the following is true regarding a marketing audit?

• A) It focuses primarily on a firm's macromarketing environment.
• B) It identifies the most-needed improvements and incorporates them into a corrective-action plan with short- and long-run steps.
• C) It is less effective at locating the real source of a problem than a functional audit.
• D) It analyzes only those marketing activities that have failed to produce adequate results.
• E) It relies solely on company managers for data and opinions.

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Definitions:

Upward Counterfactual Thinking

The mental process of comparing current outcomes with more positive, alternative scenarios, often leading to feelings of dissatisfaction or motivation for improvement.

Downward Counterfactual Thinking

The mental process of imagining worse alternatives to events that have already occurred, often leading to feelings of relief or contentment.

Illusion Of Control

A cognitive bias that leads individuals to overestimate their ability to control events.

Gambler's Fallacy

The incorrect belief that past random events can influence the likelihood of future random events, especially in the context of gambling.