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340) The logistics industry has sales of $800 billion per year. If a third party logistics provider had sales of $8 billion, what would its market share be? Be sure to define market share and show your work in your answer. Answer: Market share is the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself. In this case, the sales of the firm itself ($8 billion) divided by the sales revenue of all firms in the industry, including the firm itself, ($800 billion) means that the third-party logistics provider in question has a 1 percent market share ($8 billion á $800 billion = 1 percent). Difficulty: 3 Hard Topic: Elements of a Marketing Strategy Learning Objective: 02-02 Describe core values, mission, organizational culture, business, and goals. Bloom's: Apply AACSB: Knowledge Application Accessibility: Keyboard Navigation 341) Define marketing dashboard and marketing metric and explain how these terms are related. Answer: A marketing dashboard is the visual computer display of the essential information related to achieving a marketing objective. With a marketing dashboard, a marketing manager glances at a graph or table and makes a decision whether to take action or to do more analysis to better understand the problem. Each graphical or tabular display in a dashboard shows a marketing metric, which is a measure of the quantitative value or trend of a marketing activity or result. Difficulty: 1 Easy Topic: Marketing Metrics Learning Objective: 02-03 Explain why managers use marketing dashboards and marketing metrics. Bloom's: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation

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Test Bank for Marketing 14th Kerin  

Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...

Test Bank for Marketing 14th Kerin  

Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...