Question 1

Line positions are

Accepted Answer

A)  managers who have the authority and responsibility to issue orders to people who report to them. 
B)  people who have the authority and responsibility to advise people in staff positions but cannot issue direct orders to them. 
C)  the senior executives responsible for a firm's marketing strategies and activities. 
D)  members of the board of directors who are responsible for implementing the firm's marketing strategies and tactics. 
E)  middle managers with the responsibility of assuring that tasks are completed on time but who do not actually have the authority to issue orders. 
A)  managers who have the authority and responsibility to issue orders to people who report to them. 
B)  people who have the authority and responsibility to advise people in staff positions but cannot issue direct orders to them. 
C)  the senior executives responsible for a firm's marketing strategies and activities. 
D)  members of the board of directors who are responsible for implementing the firm's marketing strategies and tactics. 
E)  middle managers with the responsibility of assuring that tasks are completed on time but who do not actually have the authority to issue orders.

Question 2

A blue ocean strategy emphasizes the simultaneous pursuit of

Accepted Answer

A)  the needs of the manufacturer and the needs of the consumer. 
B)  the desire for profit and a responsibility to society as a whole. 
C)  minimal expenses in marketing effort and maximum marketing results obtained. 
D)  a firm's market segments and relevant product groupings. 
E)  product or marketing program differentiation and lower cost. 
A)  the needs of the manufacturer and the needs of the consumer. 
B)  the desire for profit and a responsibility to society as a whole. 
C)  minimal expenses in marketing effort and maximum marketing results obtained. 
D)  a firm's market segments and relevant product groupings. 
E)  product or marketing program differentiation and lower cost.

Question 3

The reformulation of the original less sweet, more bitter Coca-Cola (now Coca-Cola Classic) into a new sweeter one (eventually called New Coke) was one of the biggest decisions in the firm's history. Coca-Cola was responding to Pepsi's gain in market share with its sweeter formulation and its Pepsi Challenge taste tests and commercials. New Coke replaced "old Coke" on supermarket shelves. Loyal Coke customers were incensed that "old Coke" was discontinued. They loved the taste and brand identity of "old Coke" and rebelled against New Coke. TV and print ads designed to persuade Coke and Pepsi drinkers to switch to New Coke were ineffective. After a short time, Coca-Cola reintroduced old Coke as Coca-Cola Classic and withdrew New Coke from the market. The launch of New Coke is an example of

Accepted Answer

A)  good planning and good implementation. 
B)  good planning and poor implementation. 
C)  poor planning and good implementation. 
D)  poor planning and poor implementation. 
E)  poor evaluation. 
A)  good planning and good implementation. 
B)  good planning and poor implementation. 
C)  poor planning and good implementation. 
D)  poor planning and poor implementation. 
E)  poor evaluation.

Question 4

A cost leadership strategy refers to one of the generic business strategies that

Accepted Answer

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

Question 5

Which of these statements best reflects the guideline for making marketing plans controllable and flexible?

Accepted Answer

A)  The firm ensures that people at all levels in the firm understand what, when, and how they are to accomplish their tasks. 
B)  The firm's marketing plan has all the key marketing mix factors and is supported by resources. 
C)  The firm's marketing plan enables results to be compared with planned targets using precise marketing metrics but the plan can be altered based on results. 
D)  The firm insists on ownership of the marketing plan by team members and stakeholders. 
E)  The firms ensures that the right person to implement plans is heavily involved in making the plans. 
A)  The firm ensures that people at all levels in the firm understand what, when, and how they are to accomplish their tasks. 
B)  The firm's marketing plan has all the key marketing mix factors and is supported by resources. 
C)  The firm's marketing plan enables results to be compared with planned targets using precise marketing metrics but the plan can be altered based on results. 
D)  The firm insists on ownership of the marketing plan by team members and stakeholders. 
E)  The firms ensures that the right person to implement plans is heavily involved in making the plans.

Question 6

- Consider Figure 22-7 above. The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of

Accepted Answer

A)  a Pert chart. 
B)  a marketing program. 
C)  a marketing dashboard. 
D)  a Gantt chart. 
E)  a marketing plan. 
A)  a Pert chart. 
B)  a marketing program. 
C)  a marketing dashboard. 
D)  a Gantt chart. 
E)  a marketing plan.

Question 7

Functional groupings are organizational groupings

Accepted Answer

A)  that group specific customer segments. 
B)  in which sales territories are subdivided according to geographic location. 
C)  that represent the different departments or business activities within a firm. 
D)  in which a unit is responsible for specific product offerings. 
E)  that combine both market-based groupings with product groupings. 
A)  that group specific customer segments. 
B)  in which sales territories are subdivided according to geographic location. 
C)  that represent the different departments or business activities within a firm. 
D)  in which a unit is responsible for specific product offerings. 
E)  that combine both market-based groupings with product groupings.

Question 8

________ strategy formulation process for marketing planning will lead to more ideas, enhance engagement, and increase the chances for successful implementation.

Accepted Answer

A)  An open 
B)  A contingency 
C)  An external 
D)  A dynamic 
E)  A proactive 
A)  An open 
B)  A contingency 
C)  An external 
D)  A dynamic 
E)  A proactive

Question 9

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

Accepted Answer

A)  marketing return on investment 
B)  a time-based agenda and an action item list 
C)  revenues associated with each point of market share 
D)  trends for industry and competitors 
E)  possible cannibalization effects on other products in the line 
A)  marketing return on investment 
B)  a time-based agenda and an action item list 
C)  revenues associated with each point of market share 
D)  trends for industry and competitors 
E)  possible cannibalization effects on other products in the line

Question 10

Which of these is used in the development of the marketing program, the third step of the planning phase of the strategic marketing process?

Accepted Answer

A)  marketing return on investment 
B)  market-product grids with target segments and product groupings 
C)  trends for industry and competitors 
D)  marketing mix actions 
E)  market potential studies 
A)  marketing return on investment 
B)  market-product grids with target segments and product groupings 
C)  trends for industry and competitors 
D)  marketing mix actions 
E)  market potential studies

Question 11

What are the two types of metrics used by senior marketing executives who prefer that "a company undertake major strategic initiatives to enhance its innovation and product-development capabilities?"

Accepted Answer

Senior marketing executives who prefer t

Question 12

Identifying the results that deviate from plans to diagnose their causes and take new actions is referred to as

Accepted Answer

A)  management by exception. 
B)  qualitative analysis. 
C)  SWOT analysis. 
D)  market-product grid framework assessment. 
E)  synergy analysis. 
A)  management by exception. 
B)  qualitative analysis. 
C)  SWOT analysis. 
D)  market-product grid framework assessment. 
E)  synergy analysis.

Question 13

Which of these is one of the four generic business strategies?

Accepted Answer

A)  exclusivity 
B)  quality focus 
C)  differentiation 
D)  geographic span 
E)  service leadership 
A)  exclusivity 
B)  quality focus 
C)  differentiation 
D)  geographic span 
E)  service leadership

Question 14

A company that uses an organizational structure based on its snowboards, skiing equipment, and ice skates would most likely be using a ________ grouping.

Accepted Answer

A)  functional 
B)  reseller 
C)  product line 
D)  geographical 
E)  market-based 
A)  functional 
B)  reseller 
C)  product line 
D)  geographical 
E)  market-based

Question 15

A program champion is

Accepted Answer

A)  a person who is willing and able to "cut the red tape" to move a program forward. 
B)  the person within an organization who is assigned the responsibility of taking a program from conception to deletion. 
C)  a person in an organization who is the "product figurehead" for a new-product development cross-functional team. 
D)  a sports figure or celebrity, who serves as a company spokesperson for a new product. 
E)  a single product within the product line that carries the other products in the line "on its back." 
A)  a person who is willing and able to "cut the red tape" to move a program forward. 
B)  the person within an organization who is assigned the responsibility of taking a program from conception to deletion. 
C)  a person in an organization who is the "product figurehead" for a new-product development cross-functional team. 
D)  a sports figure or celebrity, who serves as a company spokesperson for a new product. 
E)  a single product within the product line that carries the other products in the line "on its back."

Question 16

A generic business strategy is a strategy that

Accepted Answer

A)  seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
B)  can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage. 
C)  describes an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals. 
D)  states the organization's function in society, often identifying its customers, markets, products, and technologies. 
E)  helps a firm search for growth opportunities from among current and new markets as well as current and new products. 
A)  seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
B)  can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage. 
C)  describes an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals. 
D)  states the organization's function in society, often identifying its customers, markets, products, and technologies. 
E)  helps a firm search for growth opportunities from among current and new markets as well as current and new products.

Question 17

A matrix organization

Accepted Answer

A)  combines a product line structure with a geographical structure. 
B)  combines a geographical structure with a market-based structure. 
C)  combines a market-based structure with product groupings. 
D)  turns a horizontal organizational structure into a vertical one. 
E)  groups products according to the distribution system that is used. 
A)  combines a product line structure with a geographical structure. 
B)  combines a geographical structure with a market-based structure. 
C)  combines a market-based structure with product groupings. 
D)  turns a horizontal organizational structure into a vertical one. 
E)  groups products according to the distribution system that is used.

Question 18

Organizational groupings in which sales territories are subdivided according to location are referred to as

Accepted Answer

A)  functional groupings. 
B)  reseller groupings. 
C)  geographical groupings. 
D)  product line groupings. 
E)  market-based groupings. 
A)  functional groupings. 
B)  reseller groupings. 
C)  geographical groupings. 
D)  product line groupings. 
E)  market-based groupings.

Question 19

As the annual marketing effort increases in a sales response function graph, so does the resulting annual sales revenue, which is

Accepted Answer

A)  plotted on the vertical (Y) axis. 
B)  plotted on the horizontal (S) axis. 
C)  plotted on the vertical (Z) axis. 
D)  the center point. 
E)  plotted on the horizontal (X) axis. 
A)  plotted on the vertical (Y) axis. 
B)  plotted on the horizontal (S) axis. 
C)  plotted on the vertical (Z) axis. 
D)  the center point. 
E)  plotted on the horizontal (X) axis.

Question 20

Hard Candy is a cosmetics company that markets the Palm Palette-all the makeup a "girl-on-the-go" needs without a cumbersome makeup bag. It comes in three shades-glam, funky, and girly. Hard Candy targets women who are 20-somethings. Which one of the generic business strategies is Hard Candy most likely using?

Accepted Answer

A)  differentiation focus 
B)  cost focus 
C)  differentiation 
D)  cost leadership 
E)  profit enhancement 
A)  differentiation focus 
B)  cost focus 
C)  differentiation 
D)  cost leadership 
E)  profit enhancement

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

Line positions are

A blue ocean strategy emphasizes the simultaneous pursuit of

A cost leadership strategy refers to one of the generic business strategies that

Which of these statements best reflects the guideline for making marketing plans controllable and flexible?

- Consider Figure 22-7 above. The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of

Functional groupings are organizational groupings

________ strategy formulation process for marketing planning will lead to more ideas, enhance engagement, and increase the chances for successful implementation.

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

Which of these is used in the development of the marketing program, the third step of the planning phase of the strategic marketing process?

What are the two types of metrics used by senior marketing executives who prefer that "a company undertake major strategic initiatives to enhance its innovation and product-development capabilities?"

Identifying the results that deviate from plans to diagnose their causes and take new actions is referred to as

Which of these is one of the four generic business strategies?

A company that uses an organizational structure based on its snowboards, skiing equipment, and ice skates would most likely be using a ________ grouping.

A program champion is

A generic business strategy is a strategy that

A matrix organization

Organizational groupings in which sales territories are subdivided according to location are referred to as

As the annual marketing effort increases in a sales response function graph, so does the resulting annual sales revenue, which is

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Building an Effective Marketing Plan

Financial Aspects of Marketing

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