Question 1

Explain the steps in the evaluation phase of the strategic marketing process.

Accepted Answer

Evaluation,the final phase of the strate

Question 2

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

Accepted Answer

A) cost leadership 
B) quality focus 
C) differentiation focus 
D) cost focus 
E) differentiation 
A) cost leadership 
B) quality focus 
C) differentiation focus 
D) cost focus 
E) differentiation

Question 3

Kelly Johnson of Lockheed Martin's Skunk Works stressed the following basic tenet:

Accepted Answer

A) Implement a "do it,fix it,try it" approach. 
B) Take a "go and see" approach. 
C) Have a "bias for action." 
D) "Avoid paralysis by analysis." 
E) "Better to ask forgiveness than permission." 
A) Implement a "do it,fix it,try it" approach. 
B) Take a "go and see" approach. 
C) Have a "bias for action." 
D) "Avoid paralysis by analysis." 
E) "Better to ask forgiveness than permission."

Question 4

What is the assumed shape of the graph of the sales response function?

Accepted Answer

A) U-shaped 
B) S-shaped 
C) a straight,downward-sloping line,starting in the upper left and extending to the lower right of the graph 
D) a straight,upward-sloping line,starting in the lower left and extending to the upper right of the graph 
E) W-shaped 
A) U-shaped 
B) S-shaped 
C) a straight,downward-sloping line,starting in the upper left and extending to the lower right of the graph 
D) a straight,upward-sloping line,starting in the lower left and extending to the upper right of the graph 
E) W-shaped

Question 5

Organizational groupings that represent the different departments or business activities within a firm are referred to as

Accepted Answer

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

Question 6

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as

Accepted Answer

A) second-guessing. 
B) paralysis by analysis. 
C) better to ask for forgiveness than permission. 
D) stay with the pack. 
E) letting sleeping dogs lie. 
A) second-guessing. 
B) paralysis by analysis. 
C) better to ask for forgiveness than permission. 
D) stay with the pack. 
E) letting sleeping dogs lie.

Question 7

The firm's annual marketing effort,such as advertising,personal selling,sales promotion,direct marketing,and public relations expenses is ________ in a sales response function graph.

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 8

The actions taken during the implementation phase of the strategic marketing process include

Accepted Answer

A) obtaining resources 
B) selecting target markets 
C) positioning the product 
D) finding points of difference 
E) developing the budget by estimating revenues,expenses,and profits 
A) obtaining resources 
B) selecting target markets 
C) positioning the product 
D) finding points of difference 
E) developing the budget by estimating revenues,expenses,and profits

Question 9

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 10

General Electric's Jack Welch became a legend in making GE more efficient and far better at implementation.One strategy he used to do this was

Accepted Answer

A) creating new mediation teams between planners and implementers. 
B) developing task-specific innovation teams. 
C) hiring outside consulting firms. 
D) de-layering the organization. 
E) conducting regular debriefing meetings to keep everyone aware of what was going on. 
A) creating new mediation teams between planners and implementers. 
B) developing task-specific innovation teams. 
C) hiring outside consulting firms. 
D) de-layering the organization. 
E) conducting regular debriefing meetings to keep everyone aware of what was going on.

Question 11

When using share points to make marketing resource allocation decisions,marketing managers must estimate which of the following?

Accepted Answer

A) total production costs 
B) number of market segments 
C) stage of the product in its product life cycle 
D) the total financial resources available for a sustained marketing effort 
E) the revenues associated with each point of market share 
A) total production costs 
B) number of market segments 
C) stage of the product in its product life cycle 
D) the total financial resources available for a sustained marketing effort 
E) the revenues associated with each point of market share

Question 12

An action item list is

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. 
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.

Question 13

During the planning phase of the strategic marketing process,the output report would take the form of a(n)

Accepted Answer

A) action memo. 
B) operating statement. 
C) marketing dashboard. 
D) marketing plan. 
E) corrective action memo. 
A) action memo. 
B) operating statement. 
C) marketing dashboard. 
D) marketing plan. 
E) corrective action memo.

Question 14

Based on a market-product grid framework,which marketing strategy focuses on a single market segment but adds additional product lines?

Accepted Answer

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

Question 15

Describe a time-based agenda,an action item list,and a program schedule.What are their similarities and differences?

Accepted Answer

A time-based agenda shows the running ti

Question 16

Porter's four generic business strategies involve combinations of ________ and a stress on costs versus product differentiation.

Accepted Answer

A) organizational structure 
B) degree of geographical distribution 
C) investment in research and development 
D) relative number of products in a product line 
E) competitive scope or the breadth of the target markets 
A) organizational structure 
B) degree of geographical distribution 
C) investment in research and development 
D) relative number of products in a product line 
E) competitive scope or the breadth of the target markets

Question 17

Figure 22-1
  
-According to Figure 22-1 above,an additional annual marketing effort of $1 million is best spent after having already spent how much in marketing effort to date?

Accepted Answer

A) $1 million 
B) $2 million 
C) $3 million 
D) $5 million 
E) $6 million 
A) $1 million 
B) $2 million 
C) $3 million 
D) $5 million 
E) $6 million

Question 18

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 girlies.Hard Candy targets women who are 20-somethings.Which one of Porter's 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

Question 19

The information needed for the evaluation phase of the strategic marketing process includes

Accepted Answer

A) positioning studies. 
B) market-product grids with targets. 
C) detailed plans to execute the marketing program. 
D) tracking reports to measure results. 
E) projected future sales,expenses,and profits. 
A) positioning studies. 
B) market-product grids with targets. 
C) detailed plans to execute the marketing program. 
D) tracking reports to measure results. 
E) projected future sales,expenses,and profits.

Question 20

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

Accepted Answer

A) action memos to correct problems and exploit opportunities 
B) memos assigning responsibilities for actions and deadlines 
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) action memos to correct problems and exploit opportunities 
B) memos assigning responsibilities for actions and deadlines 
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

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

Explain the steps in the evaluation phase of the strategic marketing process.

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

Kelly Johnson of Lockheed Martin's Skunk Works stressed the following basic tenet:

What is the assumed shape of the graph of the sales response function?

Organizational groupings that represent the different departments or business activities within a firm are referred to as

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as

The firm's annual marketing effort,such as advertising,personal selling,sales promotion,direct marketing,and public relations expenses is ________ in a sales response function graph.

The actions taken during the implementation phase of the strategic marketing process include

A matrix organization

General Electric's Jack Welch became a legend in making GE more efficient and far better at implementation.One strategy he used to do this was

When using share points to make marketing resource allocation decisions,marketing managers must estimate which of the following?

An action item list is

During the planning phase of the strategic marketing process,the output report would take the form of a(n)

Based on a market-product grid framework,which marketing strategy focuses on a single market segment but adds additional product lines?

Describe a time-based agenda,an action item list,and a program schedule.What are their similarities and differences?

Porter's four generic business strategies involve combinations of ________ and a stress on costs versus product differentiation.

Figure 22-1 -According to Figure 22-1 above,an additional annual marketing effort of $1 million is best spent after having already spent how much in marketing effort to date?

The information needed for the evaluation phase of the strategic marketing process includes

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

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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