Question 1

All of the following are key problems that emerge in a firm's strategic marketing process except which?

Accepted Answer

A)  Line operating managers often feel no sense of ownership in implementing the plans.
B)  Bad news is filtered out as information goes up the line to give top management a very rosy picture.
C)  Not enough time and effort is spent on data collection;therefore,the plans written are too vague to implement.
D)  Plans are based on very poor assumptions about environmental forces.
E)  Planners and their plans may have lost sight of their customers' needs.F) A) and E)
G) A) and D)

Question 2

A cost focus strategy refers to one of Porter's generic business strategies that

Accepted Answer

A)  focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.
B)  requires products to have significant points of difference to target one or only a few market segments.
C)  requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments.
D)  involves controlling expenses and,in turn,lowering product prices targeted at a narrow range of market segments.
E)  seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) B) and C)
G) B) and E)

Question 3

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

Accepted Answer

A)  full coverage
B)  market specialization
C)  product specialization
D)  selective specialization
E)  market-product concentrationF) A) and D)
G) A) and B)

Question 4

The essence of resource allocation is that

Accepted Answer

A)  company resources are allocated effectively in the strategic marketing process by converting marketing actions into marketing information.
B)  individual management tools and techniques that a firm chooses to use are less important than flawless execution of the ones it does use.
C)  sometimes you have to break the rules to spend every dollar in a budget.
D)  incremental resources should be put where the incremental returns are greatest over the foreseeable future.
E)  individual management tools and techniques have no direct relationship to superior business performance in the companies.F) All of the above
G) A) and C)

Question 5

All of the following are disruptive questions to hopefully achieve disruptive innovations except which?

Accepted Answer

A)  "why" and "why not" questions
B)  "any suggestions" questions
C)  "what if" questions
D)  "what caused" questions
E)  "what is" questionsF) A) and E)
G) All of the above

Question 6

You have been told that a company increased its marketing effort from $3 million to $5 million,resulting in increased sales revenue from $10 million to $20 million.Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Accepted Answer

A)  4:1
B)  1:5
C)  5:1
D)  1:4
E)  5:1.5F) C) and D)
G) None of the above

Question 7

Ben & Jerry's Homemade,Inc. ,is a profitable company that has a reputation for quality.The company is committed to treating its employees fairly and acting ethically in all transactions.It seeks to purchase all of its supplies from socially responsible suppliers.It is a leader in protecting the environment and corporate philanthropy.Ben & Jerry's uses

Accepted Answer

A)  a value-driven strategy.
B)  marketing ROI.
C)  value analyses.
D)  value-based planning.
E)  value-added marketing.F) None of the above
G) C) and D)

Question 8

Loving Care Pets manufactures dog food specifically created for puppies under three months of age.In terms of the market-product grid framework,Loving Care Pets is a small firm without sustainable comparative advantages in marketing or production efficiencies.Loving Care Pets is using a ________ strategy.

Accepted Answer

A)  market-product concentration
B)  market specialization
C)  product specialization
D)  selective specialization
E)  full coverageF) A) and B)
G) A) and E)

Question 9

New Balance has no celebrity endorsers and does minimal advertising,yet the athletic shoe brand has about 10 percent of the sales in the athletic footwear market.The marketing team at New Balance estimates that to increase sales to 11 percent of the market will require an increase of $25 million in marketing effort and will result in an increase of its footwear sales of an additional $15 million.This 1 percent incremental increase from 10 to 11 percent is referred to as

Accepted Answer

A)  a rating.
B)  marginal market share.
C)  a sales response margin.
D)  a share point.
E)  a direct response rate.F) A) and E)
G) A) and C)

Question 10

During the planning phase of the strategic marketing process,the marketing manager will

Accepted Answer

A)  design the marketing organization.
B)  obtain resources.
C)  develop marketing schedules.
D)  construct managerial bonus plans.
E)  set market and product goals.F) B) and E)
G) A) and E)

Question 11

List the six guidelines for improving implementation of marketing programs.

Accepted Answer

The six guidelines for improving impleme...

Question 12

Today,the implementation phase of the strategic marketing process often involves moving many planning activities away from the duties of planners to those of ________ responsible for implementing the plans.

Accepted Answer

A)  line managers
B)  outside consultants
C)  senior management
D)  the chief marketing officer (CMO) 
E)  project teamsF) B) and E)
G) A) and E)

Question 13

Figure 22-3
 
-In Porter's generic business strategies shown in Figure 22-3 above,Box D refers to a ________ strategy.

Accepted Answer

A)  cost leadership
B)  quality focus
C)  differentiation focus
D)  cost focus
E)  differentiationF) B) and C)
G) D) and E)

Question 14

Economists would most likely recommend that marketing managers allocate the firm's marketing resources to the markets and products where

Accepted Answer

A)  the firm has its greatest sales.
B)  an SBU is considered a cash cow.
C)  there is the greatest current market share and the fastest industry growth rate.
D)  the excess of incremental revenues over incremental costs is greatest.
E)  total revenue equals total cost.F) A) and B)
G) B) and E)

Question 15

Regardless of the product or industry involved,the strategy that a firm adopts to achieve a competitive advantage is referred to as

Accepted Answer

A)  a generic business strategy.
B)  an annual business plan.
C)  a long-range marketing plan.
D)  a marketing action program.
E)  a synergy analysis framework.F) A) and B)
G) None of the above

Question 16

General Mills uses a marketing structure in which one person is ultimately responsible for the marketing of a specific product.For instance,one person is responsible for setting marketing goals and developing and implementing related marketing strategies for the well-known breakfast cereal,Cheerios.This person,who takes responsibility for the success or failure of the marketing of Cheerios,is called

Accepted Answer

A)  a key strategist.
B)  a product manager.
C)  a line advisor.
D)  a marketing advisor.
E)  an account executive.F) A) and D)
G) A) and C)

Question 17

The primary target market for Warm Delights is

Accepted Answer

A)  empty-nesters.
B)  on-the-go women.
C)  college students with microwaves.
D)  young marrieds who often have unexpected company.
E)  families with small children wanting after-school treats.F) B) and C)
G) A) and B)

Question 18

When a marketing plan fails,what should a marketer do in terms of looking for the source of the problem?

Accepted Answer

When a marketing plan fails,it's difficu...

Question 19

Volkswagen achieved spectacular success in the late 1990s by targeting the "nostalgia" segment,35- to 54-year-old baby boomers,with its technology-laden New Beetle.Which of Porter's generic business strategies did Volkswagen most likely use to launch the New Beetle?

Accepted Answer

A)  differentiation focus
B)  cost leadership
C)  differentiation
D)  cost focus
E)  marketing focusF) B) and D)
G) A) and C)

Question 20

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.All of the following are included except which?

Accepted Answer

A)  structure
B)  culture
C)  execution
D)  strategy
E)  ethicsF) B) and D)
G) B) and C)

Exam 22: Pulling It All Together: the Strategic Marketing Process

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

Correct Answer
verified

When a marketing plan fails,what should a marketer do in terms of looking for the source of the problem?

Correct Answer
verified
When a marketing plan fails,it's difficu...
View Answer

Correct Answer
verified

The primary target market for Warm Delights is

Correct Answer
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All of the following are disruptive questions to hopefully achieve disruptive innovations except which?

Correct Answer
verified

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.All of the following are included except which?

Correct Answer
verified

Regardless of the product or industry involved,the strategy that a firm adopts to achieve a competitive advantage is referred to as

Correct Answer
verified

You have been told that a company increased its marketing effort from $3 million to $5 million,resulting in increased sales revenue from $10 million to $20 million.Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Correct Answer
verified

During the planning phase of the strategic marketing process,the marketing manager will

Correct Answer
verified

List the six guidelines for improving implementation of marketing programs.

Correct Answer
verified
The six guidelines for improving impleme...
View Answer

Figure 22-3 -In Porter's generic business strategies shown in Figure 22-3 above,Box D refers to a ________ strategy.

Correct Answer
verified

The essence of resource allocation is that

Correct Answer
verified

Correct Answer
verified

A cost focus strategy refers to one of Porter's generic business strategies that

Correct Answer
verified

All of the following are key problems that emerge in a firm's strategic marketing process except which?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Today,the implementation phase of the strategic marketing process often involves moving many planning activities away from the duties of planners to those of ________ responsible for implementing the plans.

Correct Answer
verified

Volkswagen achieved spectacular success in the late 1990s by targeting the "nostalgia" segment,35- to 54-year-old baby boomers,with its technology-laden New Beetle.Which of Porter's generic business strategies did Volkswagen most likely use to launch the New Beetle?

Correct Answer
verified

Economists would most likely recommend that marketing managers allocate the firm's marketing resources to the markets and products where

Correct Answer
verified

Exam 22: Pulling It All Together: the Strategic Marketing Process

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

Correct AnswerverifiedShow Answer

When a marketing plan fails,what should a marketer do in terms of looking for the source of the problem?

Correct AnswerverifiedWhen a marketing plan fails,it's difficu...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The primary target market for Warm Delights is

Correct AnswerverifiedShow Answer

All of the following are disruptive questions to hopefully achieve disruptive innovations except which?

Correct AnswerverifiedShow Answer

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.All of the following are included except which?

Correct AnswerverifiedShow Answer

Regardless of the product or industry involved,the strategy that a firm adopts to achieve a competitive advantage is referred to as

Correct AnswerverifiedShow Answer

You have been told that a company increased its marketing effort from $3 million to $5 million,resulting in increased sales revenue from $10 million to $20 million.Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Correct AnswerverifiedShow Answer

During the planning phase of the strategic marketing process,the marketing manager will

Correct AnswerverifiedShow Answer

List the six guidelines for improving implementation of marketing programs.

Correct AnswerverifiedThe six guidelines for improving impleme...View AnswerShow Answer

Figure 22-3 -In Porter's generic business strategies shown in Figure 22-3 above,Box D refers to a ________ strategy.

Correct AnswerverifiedShow Answer

The essence of resource allocation is that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A cost focus strategy refers to one of Porter's generic business strategies that

Correct AnswerverifiedShow Answer

All of the following are key problems that emerge in a firm's strategic marketing process except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Today,the implementation phase of the strategic marketing process often involves moving many planning activities away from the duties of planners to those of ________ responsible for implementing the plans.

Correct AnswerverifiedShow Answer

Volkswagen achieved spectacular success in the late 1990s by targeting the "nostalgia" segment,35- to 54-year-old baby boomers,with its technology-laden New Beetle.Which of Porter's generic business strategies did Volkswagen most likely use to launch the New Beetle?

Correct AnswerverifiedShow Answer

Economists would most likely recommend that marketing managers allocate the firm's marketing resources to the markets and products where

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
When a marketing plan fails,it's difficu...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The six guidelines for improving impleme...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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