Question 1

The marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1) __________ and (2) actual results fall short of goals.

Accepted Answer

A)  deviations that result from major shifts in customer needs
B)  actual results exceed goals
C)  there are no deviations but there should be
D)  deviations that result from executive mandates
E)  deviations that are blamed on insufficient marketing support (personnel or funding) F) A) and E)
G) B) and E)

Question 2

Describe Porter's framework and the four resulting generic business strategies.

Accepted Answer

Michael E.Porter developed a framework i...

Question 3

List four problems that occur in the planning phase of a firm's strategic marketing process.

Accepted Answer

(1)Plans may be based on very poor assum...

Question 4

What is a sales response function?

Accepted Answer

A sales response function relates the ex...

Question 5

Which of the following pieces of information is used in a SWOT analysis,the first step of the planning phase of the strategic marketing process?

Accepted Answer

A)  marketing return on investment
B)  projected future sales,expenses,and profits
C)  market share for the product
D)  revenues associated with each point of market share
E)  possible cannibalization effects on other products in the lineF) B) and C)
G) C) and E)

Question 6

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Accepted Answer

A)  find points of difference
B)  execute the marketing program
C)  track sales and revenues and compare with competitors
D)  develop the budget by estimating revenues,expenses,and profits
E)  exploit positive deviations and correct negative onesF) B) and C)
G) B) and E)

Question 7

Which of the following output report would be associated with the planning phase of the strategic marketing process?

Accepted Answer

A)  performance reviews for key personnel
B)  marketing plans that define goals with the relevant metrics and the marketing mix strategies to achieve them
C)  action memos that tell who is to do what by when
D)  corrective action memos,triggered by comparing results with plans,often from the firm's marketing dashboards and metrics
E)  sales reports using the firm's marketing metrics and dashboardsF) A) and C)
G) B) and E)

Question 8

The key to launching a disruptive innovation like Google,Facebook,or the iPhone and iPad from Apple is to __________

Accepted Answer

A)  hold the line on spending for R&D because "money doesn't grow on trees."
B)  focus on long-range planning because "if you don't know where you're going,any road will get you there."
C)  develop accurate action item lists and program schedules because "the devil is in the details."
D)  ask precise,focused questions to "discover what's never been."
E)  assess the competitive landscape through a comprehensive environmental scan because "the early bird gets the worm."F) B) and C)
G) A) and E)

Question 9

Which of the following pieces of information is used in the implementation phase of the strategic marketing process?

Accepted Answer

A)  marketing return on investment
B)  marketing research reports
C)  revenues associated with each point of market share
D)  trends for industry and competitors
E)  possible cannibalization effects on other products in the lineF) A) and C)
G) C) and E)

Question 10

What is the primary disadvantage of employing a product specialization strategy?

Accepted Answer

A)  The organization may be spread too thin.
B)  The organization achieves neither marketing nor manufacturing synergies.
C)  R&D-manufacturing have the difficulty of producing multiple new lines.
D)  There are too many product substitutes over which a firm would not have control.
E)  Gaining market distribution will be costly.F) All of the above
G) C) and E)

Question 11

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.These are: (1) __________; (2) execution; (3) culture;and (4) structure.

Accepted Answer

A)  ethics
B)  charismatic leadership
C)  quality
D)  strategy
E)  sustainabilityF) B) and D)
G) A) and E)

Question 12

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.These are: (1) strategy; (2) execution; (3) __________;and (4) structure.

Accepted Answer

A)  charismatic leadership
B)  culture
C)  quality
D)  sustainability
E)  ethicsF) A) and D)
G) B) and C)

Question 13

Which of the following pieces of information is used in the evaluation phase of the strategic marketing process?

Accepted Answer

A)  marketing return on investment
B)  tracking reports to measure results
C)  revenues associated with each point of market share
D)  trends for industry and competitors
E)  possible cannibalization effects on other products in the lineF) D) and E)
G) A) and B)

Question 14

Consider Figure 22-8 above.The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of a(n) __________.

Accepted Answer

A)  Pert chart
B)  marketing program
C)  marketing dashboard
D)  Gantt chart
E)  marketing planF) D) and E)
G) A) and B)

Question 15

Hyundai Motor America (HMA) became the first automaker to offer consumers an Internet parts ordering system.The system was targeted only to current Hyundai owners and gave Hyundai the ability to collect a vast amount of customer data about people who buy its cars.Which of Porter's generic business strategies did Hyundai MOST LIKELY use when it launched its Internet parts website?

Accepted Answer

A)  cost leadership
B)  differentiation focus
C)  differentiation
D)  cost focus
E)  marketing focusF) None of the above
G) C) and D)

Question 16

The information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1) __________; (2) market-product grids with target segments and product groupings;and (3) perceptual maps and positioning statements.

Accepted Answer

A)  market potential studies
B)  trends for industry and competitors
C)  marketing mix actions
D)  detailed plans to execute the marketing program
E)  projected future sales,expenses,and profitsF) B) and C)
G) A) and B)

Question 17

According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________.

Accepted Answer

A)  $20 million
B)  $40 million
C)  $50 million
D)  $70 million
E)  $80 millionF) C) and D)
G) B) and D)

Question 18

Amy Smith has just completed measuring the results of her firm's product performance.Her next step will be to

Accepted Answer

A)  do a profitability analysis.
B)  take necessary corrective actions.
C)  bring these to the marketing auditor.
D)  proceed regardless of deviations from original plans.
E)  compare the results against the goals specified in the marketing plan.F) B) and D)
G) B) and E)

Question 19

An action item list refers to

Accepted Answer

A)  an aid to implement a marketing plan that consists of four columns.
B)  a tool that shows the relationships through time of the various program tasks.
C)  a graphical representation of a program schedule.
D)  a systematic method to itemize the "value" of products and services.
E)  an aid to implementing a business plan and consisting of five columns.F) C) and E)
G) C) and D)

Question 20

Which of the following pieces of information is used in market-product focus and goal setting,the second step of the planning phase of the strategic marketing process?

Accepted Answer

A)  market-product grids with target segments and product groupings
B)  marketing return on investment
C)  revenues associated with each point of market share
D)  trends for industry and competitors
E)  possible cannibalization effects on other products in the lineF) None of the above
G) A) and B)

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

What is a sales response function?

Correct Answer
verified
A sales response function relates the ex...
View Answer

Consider Figure 22-8 above.The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of a(n) __________.

Correct Answer
verified

The key to launching a disruptive innovation like Google,Facebook,or the iPhone and iPad from Apple is to __________

Correct Answer
verified

Amy Smith has just completed measuring the results of her firm's product performance.Her next step will be to

Correct Answer
verified

What is the primary disadvantage of employing a product specialization strategy?

Correct Answer
verified

An action item list refers to

Correct Answer
verified

Which of the following pieces of information is used in market-product focus and goal setting,the second step of the planning phase of the strategic marketing process?

Correct Answer
verified

Describe Porter's framework and the four resulting generic business strategies.

Correct Answer
verified
Michael E.Porter developed a framework i...
View Answer

List four problems that occur in the planning phase of a firm's strategic marketing process.

Correct Answer
verified
(1)Plans may be based on very poor assum...
View Answer

Which of the following output report would be associated with the planning phase of the strategic marketing process?

Correct Answer
verified

Which of the following pieces of information is used in the evaluation phase of the strategic marketing process?

Correct Answer
verified

Which of the following pieces of information is used in the implementation phase of the strategic marketing process?

Correct Answer
verified

The marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1) __________ and (2) actual results fall short of goals.

Correct Answer
verified

According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________.

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.These are: (1) __________; (2) execution; (3) culture;and (4) structure.

Correct Answer
verified

Which of the following pieces of information is used in a SWOT analysis,the first step of the planning phase of the strategic marketing process?

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.These are: (1) strategy; (2) execution; (3) __________;and (4) structure.

Correct Answer
verified

The information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1) __________; (2) market-product grids with target segments and product groupings;and (3) perceptual maps and positioning statements.

Correct Answer
verified

Correct Answer
verified

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Correct Answer
verified

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

What is a sales response function?

Correct AnswerverifiedA sales response function relates the ex...View AnswerShow Answer

Consider Figure 22-8 above.The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of a(n) __________.

Correct AnswerverifiedShow Answer

The key to launching a disruptive innovation like Google,Facebook,or the iPhone and iPad from Apple is to __________

Correct AnswerverifiedShow Answer

Amy Smith has just completed measuring the results of her firm's product performance.Her next step will be to

Correct AnswerverifiedShow Answer

What is the primary disadvantage of employing a product specialization strategy?

Correct AnswerverifiedShow Answer

An action item list refers to

Correct AnswerverifiedShow Answer

Which of the following pieces of information is used in market-product focus and goal setting,the second step of the planning phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

Describe Porter's framework and the four resulting generic business strategies.

Correct AnswerverifiedMichael E.Porter developed a framework i...View AnswerShow Answer

List four problems that occur in the planning phase of a firm's strategic marketing process.

Correct Answerverified(1)Plans may be based on very poor assum...View AnswerShow Answer

Which of the following output report would be associated with the planning phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

Which of the following pieces of information is used in the evaluation phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

Which of the following pieces of information is used in the implementation phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

The marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1) __________ and (2) actual results fall short of goals.

Correct AnswerverifiedShow Answer

According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________.

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.These are: (1) __________; (2) execution; (3) culture;and (4) structure.

Correct AnswerverifiedShow Answer

Which of the following pieces of information is used in a SWOT analysis,the first step of the planning phase of the strategic marketing process?

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.These are: (1) strategy; (2) execution; (3) __________;and (4) structure.

Correct AnswerverifiedShow Answer

The information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1) __________; (2) market-product grids with target segments and product groupings;and (3) perceptual maps and positioning statements.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Correct AnswerverifiedShow Answer

Correct Answer
verified
A sales response function relates the ex...
View Answer

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verified
Michael E.Porter developed a framework i...
View Answer

Correct Answer
verified
(1)Plans may be based on very poor assum...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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