An effective marketing objective:
a. is qualitative rather than quantitative.
b. is compared to a benchmark.
c. is written independently of the mission statement.
d. is unattainable.
ANSWER: b
A marketing objective is a statement of what is to be accomplished through marketing activities. Marketing objectives are effective when they are compared to a benchmark.
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The table above shows the stock prices and multiples for a number of firms in the newspaper publishing industry
Name Market Enterprise Enterprise Enterprise Capitalization Value Price/ Value/ Value/ ($ million) ($ million) P/E Book Sales EBITDA Gannet 6350 10,163 7.36 0.73 1.4 5.04 New York Times 2423 3472 18.09 2.64 1.10 7.21 McClatchy 675 3061 9.76 1.68 1.40 5.64 Media General 326 1192 14.89 0.39 1.31 7.65 Lee Enterprises 267 1724 6.55 0.82 1.57 6.65 Average 11.33 1.25 1.35 6.44 Maximum +60% 112% +16% +22% Minimum -40% -69% -18% -19% Another newspaper publishing firm (not shown) had sales of $620 million, EBITDA of $81 million, excess cash of $62 million, $11 million of debt, and 120 million shares outstanding. If the firm had an EPS of $0.41, what is the difference between the estimated share price of this firm if the average price-earnings ratio is used and the estimated share price if the average enterprise value/EBITDA ratio is used? A) -$0.08 B) -$0.13 C) -$1.27 D) -$1.39
The McCumber Corporation data for the current year:
Account Current year Prior year Cash $76,200 $60,000 A/R $59,400 $44,000 Mdse. Inventory $51,200 $40,000 Current liabilities $82,500 $55,000 Long-term liabilities $38,000 $30,000 Common stock (5,000 shares) $47,880 $42,000 Retained earnings $18,420 $17,000 Net sales revenue $618,000 $515,000 COGS $478,140 $385,000 Gross Profit $139,860 $130,000 Selling/General expenses $47,860 $50,000 Net income before taxes $92,000 $80,000 Income tax expense $23,000 $20,000 Net Income $69,000 $60,000 With respect to current liabilities, what would a horizontal analysis report? A) The current ratio is 0.92. B) Current liabilities are 13.35% of total capital. C) Current liabilities saw a 50% increase from the prior year to the current year. D) Current liabilities saw a 66.67% increase from the prior year to the current year.