Marketing Planning & Budgeting Flashcards
7 cards from real CMA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Marketing Planning & Budgeting flashcards as text
At which stage of the product life cycle is a higher marketing budget most often justified to build brand awareness and stimulate primary demand?
Answer: Introduction
During the introduction stage, heavy marketing investment is needed to create awareness, educate consumers, and encourage trial of a new product.
A marketing dashboard is best described as:
Answer: A real-time visual display of key marketing performance metrics aligned with plan objectives
A marketing dashboard presents KPIs and performance metrics in a visual format, enabling marketers to monitor progress against plan objectives in near real-time.
Which approach to budget allocation prioritizes spending based on the expected return on investment of each marketing channel or activity?
Answer: ROI-based (marginal analysis) allocation
ROI-based or marginal analysis allocation directs resources toward activities with the highest expected returns, optimizing overall marketing efficiency.
What is a go-to-market (GTM) strategy in the context of marketing planning?
Answer: A comprehensive plan outlining how a product or service will reach target customers and achieve competitive advantage at launch or expansion
A go-to-market strategy defines target segments, value proposition, channels, messaging, and pricing to guide a product's market entry or expansion.
Which of the following best describes 'program budgeting' in marketing?
Answer: Organizing the budget around specific programs or initiatives (e.g., loyalty, new customer acquisition) rather than cost categories
Program budgeting groups expenditures by strategic initiative or program, making it easier to evaluate the contribution and cost-effectiveness of each effort.
When establishing key performance indicators (KPIs) in a marketing plan, marketers should ensure they are directly linked to:
Answer: The marketing objectives and broader business goals
KPIs must be tied to marketing objectives and business goals so they provide meaningful signals about whether the plan is succeeding.
The 'affordable' method of setting a marketing budget is considered a weak approach primarily because:
Answer: It treats marketing as a residual expense rather than an investment, ignoring strategic opportunity
The affordable method allocates whatever is left over after other costs, treating marketing as an afterthought rather than a revenue-generating investment tied to strategy.