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72) Taking a dashboard approach to marketing metrics goes a long way toward enabling
successful marketing planning. However, several potential pitfalls exist in its execution, such as
________.
A) very little reliance on "inside-out" measurement
B) too few tactical metrics
C) forgetting to market the dashboard internally
D) not utilizing the approach to create marketing plans
E) too much strategic insight
73) To compete in today's market, how often should firms focus on marketing planning so that
managers and executives have the core information about progress toward relevant goals and
metrics at their fingertips?
A) at least each week
B) at least each month
C) at least once a month
D) at all times
E) at decision-making times
74) Two primary goals of any dashboard are diagnostic insight and ________.
A) intuitive insight
B) intuitive focus
C) predictive foresight
D) assuming results
E) dictating goals
75) One of the benefits of a marketing dashboard is that it fosters a(n) ________ organization
that values fact-based, logical decision making.
A) informational
B) learning
C) quantitative behavioral
D) analyzing
E) evolving
76) A dashboard creates transparency in marketing's goals, operations, and performance. This in
turn ________.
A) leads to smaller marketing budgets
B) leads to animosity among departments
C) increases marketing's perceived credibility and trust by others
D) makes marketing less attractive to key decision makers
E) diminishes the alliances between marketing and the rest of the firm
77) A marketing dashboard uses graphical representations of crucial metrics in ways that begin
to show, often for the first time, the direct, understandable links between marketing initiatives
and ________.
A) stock prices
B) the number of employees
C) the number of products sold
D) financial results
E) other expenses
78) In some cases, a marketing dashboard can overly rely on ________, putting the focus on
what you already know.
A) inside-out measurement
B) external measurement
C) strategic insights
D) partial measurement
E) internal marketing
79) A potential pitfall in marketing dashboards is that a company becomes too focused on
tactical measures that may overshadow measures of ________.
A) immediacy
B) tenacity
C) locus of control
D) strategic insight
E) financial performance
80) There are times when marketers forget that marketing is not just a department, and they fail
to market the dashboard to ________.
A) customers
B) suppliers
C) key stakeholders
D) the accounting group
E) the finance group
81) Investment decisions in marketing must consider the following elements EXCEPT
________.
A) level of investment
B) returns
C) risks
D) human resources
E) hurdle rates
82) ROBI stands for return on ________ investment.
A) brand
B) basic
C) budget
D) bottom line
E) Big Data
83) If a low-risk marketing program has a return on marketing investment (ROMI) of 4.0, this
means that any marketing program must generate at a minimum $4.00 in revenue for every
________ in marketing expenditure.
A) $1
B) $20
C) $100
D) $200
E) $5
84) When your boss, Fernando, says that you need a ROMI of 5.0, he is describing the ________
for the marketing investment.
A) risk factor
B) suitability factor
C) total rate
D) hurdle rate
E) bounce rate
85) Which of the following is one of the basic elements that should be considered in making
investment decisions in marketing?
A) bounce rates
B) inflation rates
C) hurdle rates
D) conversion rates
E) expense rates
86) One of the problems with ROMI is that it often focuses on ________ rather than looking at
the effects or changes in brand equity.
A) long-term strategic goals
B) short-term incremental profits and expenditures
C) long-term relationship marketing goals
D) short-term tactical perspective
E) short-term target marketing goals
87) Describe the four elements of the CRM process cycle.
88) What is Big Data? How is it relevant to marketing? Describe the four Vs of Big Data.
89) There are six key sources of Big Data that capture data on both potential and current
customers to yield actionable insights. Name three of them and give an example of each.
90) Compare and contrast the four key types of marketing analytics: descriptive, diagnostic,
predictive, and prescriptive.
91) Describe the two goals of a marketing dashboard, and at least five of the elements that
comprise it.
