Figure 22-A -Consider Figure 22-A Above.Effective Managers Track the Progress of Their

question 213

Multiple Choice

Figure 22-A
-Consider Figure 22-A above.Effective managers track the progress of their marketing plans to identify problems that need to be corrected.Sometimes,the problems are with the marketing plan and its strategies; at other times,they may be due to their implementation; and at still other times,they may be due to both.Recall that research on what really works shows that successful firms have excellence on both the planning and strategy side and the implementation or execution side.As Figure 22-A shows,marketers can develop and implement strategies that have four possible results.For "B," identify the likely result of the planning and implementation of the marketing plan and its strategies for a product or service.

• A) Trouble: The solution is to recognize that only implementation is at fault and to correct it.
• B) Success: The marketing program achieves its objectives.
• C) Failure: The marketing program flounders and fails to achieve its objectives.
• D) Trouble: The solution is to recognize that only the strategy is at fault and to correct it.
• E) Cannot be determined with the information provided.

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Definitions:

B₂B Purchasing Process

The series of steps that businesses go through when procuring goods or services from other businesses, including need identification, evaluation, and purchase decision.

Consumer Decision-making Process

The steps that buyers go through in selecting, purchasing, using, and disposing of goods or services.

Shorter

Relative term indicating a lesser length, duration, or extent compared to something else.

System 1 Thinking

A term from psychology that describes the brain's fast, automatic, intuitive approach, contrasted with the slower, more analytical System 2 thinking.