Question 1

A company that uses an organizational structure based on ________ uses functional groupings.

Accepted Answer

A) specific product types or product offerings 
B) a particular method of distribution 
C) a specific type of customer 
D) areas of geographic location 
E) different departments or business activities within the firm 
A) specific product types or product offerings 
B) a particular method of distribution 
C) a specific type of customer 
D) areas of geographic location 
E) different departments or business activities within the firm

Question 2

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development.These consist of output and input metrics.Which of the following is an output metric?

Accepted Answer

A) number of ideas or concepts in the pipeline 
B) R&D spending as a percentage of sales 
C) return on assets (RO
A) for existing products or services 
D) customer satisfaction with new products or services 
E) number of R&D projects 
A) number of ideas or concepts in the pipeline 
B) R&D spending as a percentage of sales 
C) return on assets (RO
A) for existing products or services 
D) customer satisfaction with new products or services 
E) number of R&D projects

Question 3

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 4

Based on a market-product grid framework,which marketing strategy involves developing a single product for a single market?

Accepted Answer

A) full coverage 
B) market-product concentration 
C) market specialization 
D) product specialization 
E) selective specialization 
A) full coverage 
B) market-product concentration 
C) market specialization 
D) product specialization 
E) selective specialization

Question 5

A cost leadership strategy refers to one of Porter's 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 6

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 7

Which of the following statements best reflects the guideline of using a base of facts and valid assumptions for marketing plans?

Accepted Answer

A) The firm insists on having good marketing research. 
B) To motivate people,the firm sets achievable goals. 
C) The firm ensures that people at all levels in the firm understand what,when,and how they are to accomplish their tasks. 
D) The firm's marketing plan has all the key marketing mix factors and are supported by resources. 
E) The firm's marketing plan enables results to be compared with planned targets,using precise marketing metrics. 
A) The firm insists on having good marketing research. 
B) To motivate people,the firm sets achievable goals. 
C) The firm ensures that people at all levels in the firm understand what,when,and how they are to accomplish their tasks. 
D) The firm's marketing plan has all the key marketing mix factors and are supported by resources. 
E) The firm's marketing plan enables results to be compared with planned targets,using precise marketing metrics.

Question 8

Two commonly used methods to improve marketing ROI (return on investment)are

Accepted Answer

A) sales analysis and cost analysis. 
B) marketing research and marketing audits. 
C) social audits and marketing audits. 
D) marketing metrics and marketing dashboards. 
E) internal audits and external audits. 
A) sales analysis and cost analysis. 
B) marketing research and marketing audits. 
C) social audits and marketing audits. 
D) marketing metrics and marketing dashboards. 
E) internal audits and external audits.

Question 9

Which of the following information 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 10

Figure 22-8 
  
-Consider Figure 22-8 above.  As part of the Warm Delights team at General Mills,you are asked to analyze and interpret this marketing dashboard for Warm Delights Minis.  After a careful analysis of all four charts in the dashboard,what explains the increased monthly unit sales and sales revenue of Warm Delights Minis in the drugstore channel in late 2013?

Accepted Answer

A) both the increased percentage of drugstores carrying the brand and the increased average number of flavors carried by drugstores 
B) only the increased number of flavors carried by drugstores 
C) only the shift in monthly unit sales from November to December from the grocery channel to the drug channel 
D) only the shift in monthly total sales revenues from November to December from the grocery channel to the drug channel 
E) only the increased percentage of drugstores carrying the brand 
A) both the increased percentage of drugstores carrying the brand and the increased average number of flavors carried by drugstores 
B) only the increased number of flavors carried by drugstores 
C) only the shift in monthly unit sales from November to December from the grocery channel to the drug channel 
D) only the shift in monthly total sales revenues from November to December from the grocery channel to the drug channel 
E) only the increased percentage of drugstores carrying the brand

Question 11

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 12

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. 
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.

Question 13

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

Accepted Answer

Michael E.Porter developed a framework i

Question 14

What is a sales response function?

Accepted Answer

A sales response function relates the ex

Question 15

Key problems that emerge in a firm's strategic marketing process include that

Accepted Answer

A) there is poor communication between the firm and its stakeholders. 
B) there is a lack of leadership. 
C) although management says they are behind the plans,they do not allocate resources to the degree necessary for success. 
D) planners and their plans may have lost sight of their customers' needs. 
E) plans can be thwarted by disgruntled employees,other departments,or competitors. 
A) there is poor communication between the firm and its stakeholders. 
B) there is a lack of leadership. 
C) although management says they are behind the plans,they do not allocate resources to the degree necessary for success. 
D) planners and their plans may have lost sight of their customers' needs. 
E) plans can be thwarted by disgruntled employees,other departments,or competitors.

Question 16

Marketing ROI (return on investment)uses modern measurement technologies to determine the results of

Accepted Answer

A) marketing spending. 
B) manufacturing and distribution procedures. 
C) market-product sales. 
D) organizational structure. 
E) personal selling. 
A) marketing spending. 
B) manufacturing and distribution procedures. 
C) market-product sales. 
D) organizational structure. 
E) personal selling.

Question 17

How is management by exception used in the evaluation phase of the strategic marketing process?

Accepted Answer

Goals are specified in the planning phas

Question 18

Toyota is generally acknowledged as the best in the world in revolutionizing the design and manufacture of autos.Toyota managers created the doctrine of ________,or continuous improvement.

Accepted Answer

A) keiretsu 
B) kaizen 
C) kanban 
D) meishi 
E) zaibatsu 
A) keiretsu 
B) kaizen 
C) kanban 
D) meishi 
E) zaibatsu

Question 19

________ create a new market by initially reaching new customers through displacing an existing market's low-end product.

Accepted Answer

A) Distinctive competencies 
B) Discontinuous innovations 
C) Disruptive innovations 
D) Synergy analysis frameworks 
E) Continuous innovations 
A) Distinctive competencies 
B) Discontinuous innovations 
C) Disruptive innovations 
D) Synergy analysis frameworks 
E) Continuous innovations

Question 20

Action item lists are most similar to

Accepted Answer

A) product-market grids. 
B) job analyses. 
C) sales response functions. 
D) value analyses. 
E) program schedules. 
A) product-market grids. 
B) job analyses. 
C) sales response functions. 
D) value analyses. 
E) program schedules.

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

A company that uses an organizational structure based on ________ uses functional groupings.

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development.These consist of output and input metrics.Which of the following is an output metric?

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

Based on a market-product grid framework,which marketing strategy involves developing a single product for a single market?

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

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

Which of the following statements best reflects the guideline of using a base of facts and valid assumptions for marketing plans?

Two commonly used methods to improve marketing ROI (return on investment)are

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

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

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

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

What is a sales response function?

Key problems that emerge in a firm's strategic marketing process include that

Marketing ROI (return on investment)uses modern measurement technologies to determine the results of

How is management by exception used in the evaluation phase of the strategic marketing process?

Toyota is generally acknowledged as the best in the world in revolutionizing the design and manufacture of autos.Toyota managers created the doctrine of ________,or continuous improvement.

________ create a new market by initially reaching new customers through displacing an existing market's low-end product.

Action item lists are most similar to

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 Multichannel Marketing

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

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