Question 1

Which of the following pieces of information is used in the second step of the planning phase of the strategic marketing process?

Accepted Answer

A) Corporate return on investment 
B) Market-product grids with ranked targets 
C) Revenues associated with each point of market share 
D) Trends in past and current revenues for industry and competitors in total and by segment 
A) Corporate return on investment 
B) Market-product grids with ranked targets 
C) Revenues associated with each point of market share 
D) Trends in past and current revenues for industry and competitors in total and by segment

Question 2

Based on relative competitive scope (broad target to narrow target)and source of competitive advantage (lower cost to differentiation),Porter's four generic business strategies are differentiation,cost focus,differentiation focus,and:

Accepted Answer

A) exclusivity. 
B) electronic-focus. 
C) quality focus. 
D) cost leadership. 
A) exclusivity. 
B) electronic-focus. 
C) quality focus. 
D) cost leadership.

Question 3

Volkswagen is likely to have which generic business strategy?

Accepted Answer

A) price leadership 
B) diversification 
C) quality focus 
D) differentiation focus 
A) price leadership 
B) diversification 
C) quality focus 
D) differentiation focus

Question 4

A town hall-style meeting is held at Whirlpool to discuss the launch of their 2015 annual marketing plan.The purpose of this meeting is to ensure that all levels of the organization understand the what,when,and how components of their job descriptions as they pertain to this annual plan.This meeting will lead to _____ of their marketing plan.

Accepted Answer

A) effective adoption 
B) effective acculturation 
C) effective execution 
D) effective feasibility projections 
A) effective adoption 
B) effective acculturation 
C) effective execution 
D) effective feasibility projections

Question 5

The information needed for the marketing program,Step 3 of the planning phase,includes: 1)__________ and 2)detailed plans to execute the marketing program.

Accepted Answer

A) positioning studies 
B) marketing mix actions 
C) market-product grids with targets 
D) projections for future sales, expenses, and profits 
A) positioning studies 
B) marketing mix actions 
C) market-product grids with targets 
D) projections for future sales, expenses, and profits

Question 6

Which of the following output reports is used in the planning phase of the strategic marketing process?

Accepted Answer

A) Marketing plans that define goals 
B) Action memos that tell who is to do what 
C) Action memos that tell who is to do what by when 
D) Corrective action memos 
A) Marketing plans that define goals 
B) Action memos that tell who is to do what 
C) Action memos that tell who is to do what by when 
D) Corrective action memos

Question 7

Which statement best reflects the advice given by management experts regarding the tendency to excessively analyze a problem?

Accepted Answer

A) Don't put a product on the market until it's perfect. 
B) Try a "do it, fix it, try it," approach. 
C) If a problem arises, assemble a committee of the appropriate people to solve it. 
D) Better to ask forgiveness than permission. 
A) Don't put a product on the market until it's perfect. 
B) Try a "do it, fix it, try it," approach. 
C) If a problem arises, assemble a committee of the appropriate people to solve it. 
D) Better to ask forgiveness than permission.

Question 8

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 a(n):

Accepted Answer

A) marketing advisor. 
B) product advisor. 
C) account executive. 
D) product manager. 
A) marketing advisor. 
B) product advisor. 
C) account executive. 
D) product manager.

Question 9

A simple strategy: "to be the low-cost provider in our niche market" is an example of a:

Accepted Answer

A) generic business strategy 
B) niche-market strategy 
C) low-cost strategy 
D) focused business strategy 
A) generic business strategy 
B) niche-market strategy 
C) low-cost strategy 
D) focused business strategy

Question 10

Which marketing strategy would most likely offer the greatest economies of scale in marketing costs?

Accepted Answer

A) market-product concentration 
B) market specialization 
C) product specialization 
D) selective specialization 
A) market-product concentration 
B) market specialization 
C) product specialization 
D) selective specialization

Question 11

A difficulty when a marketing plan fails is determining whether it is primarily due to a poor plan or poor implementation.Describe the grid which results from considering (1)good and bad marketing planning and (2)good and bad marketing implementation.What are the outcomes of each combination?

Accepted Answer

The answer of A difficulty when a marketing plan fails...

Question 12

The marketing manager for Ocean Spray cranberry products is the team leader for each phase of the company's strategic marketing process.During the previous year,sales of cranberries in Canada did not meet expectations.Which of the following actions during the planning phase of the strategic marketing process would generate the required information for his team to develop the plans that define the goals and marketing mix strategies to be achieved for next year?

Accepted Answer

A) Generate a memo that clarifies each team member's responsibilities in the strategic marketing process. 
B) Conduct a situation (SWOT) analysis that identifies industry trends, analyzes competitors, assesses his own company, and researches customers. 
C) Develop a new organizational chart that reflects the reorganization of the team if corrective actions are not successful in the upcoming year. 
D) Write action memos to try to correct problems and exploit opportunities. 
A) Generate a memo that clarifies each team member's responsibilities in the strategic marketing process. 
B) Conduct a situation (SWOT) analysis that identifies industry trends, analyzes competitors, assesses his own company, and researches customers. 
C) Develop a new organizational chart that reflects the reorganization of the team if corrective actions are not successful in the upcoming year. 
D) Write action memos to try to correct problems and exploit opportunities.

Question 13

The actions taken in the marketing program,Step 3 of the planning phase,include: 1)develop the program's marketing mix and 2)__________.

Accepted Answer

A) select target markets 
B) identify industry trends 
C) position the product 
D) develop the budget by estimating revenues, expenses, and profits 
A) select target markets 
B) identify industry trends 
C) position the product 
D) develop the budget by estimating revenues, expenses, and profits

Question 14

Which of the following statements describes a disadvantage of the product manager system?

Accepted Answer

A) Product managers are strong advocates for their assigned product. 
B) Product managers tend to remain in the same position for an extended period of time. 
C) Even though product managers have major responsibilities, they have relatively little direct authority. 
D) Product managers are considered line personnel and therefore have little control over decision making. 
A) Product managers are strong advocates for their assigned product. 
B) Product managers tend to remain in the same position for an extended period of time. 
C) Even though product managers have major responsibilities, they have relatively little direct authority. 
D) Product managers are considered line personnel and therefore have little control over decision making.

Question 15

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.

Accepted Answer

The answer of List the three steps of the planning...

Question 16

The reformulation of the original Coca-Cola to new Coca-Cola (Coca-Cola Classic)was one of the biggest decisions in the firm's history.Let's call Coke's decision to respond to Pepsi's market gains: Coke's "strategy and planning" and its initial withdrawal of original Coca-Cola and substitution of new Coca-Cola and Coke's "implementation" of this strategy.The spread of ill will among loyal original Coca-Cola customers after Coke announced the change in its formula is an example of:

Accepted Answer

A) appropriate strategy and effective implementation. 
B) appropriate strategy and ineffective implementation. 
C) inappropriate strategy and effective implementation. 
D) inappropriate strategy and ineffective implementation. 
A) appropriate strategy and effective implementation. 
B) appropriate strategy and ineffective implementation. 
C) inappropriate strategy and effective implementation. 
D) inappropriate strategy and ineffective implementation.

Question 17

A new company announces the following at a press release: "We are in the business of making luxury 150 foot yachts,and only luxury 150 foot yachts." The competition would assume this company's strategy is:

Accepted Answer

A) market-product concentration 
B) market specialization 
C) product specialization 
D) selective specialization 
A) market-product concentration 
B) market specialization 
C) product specialization 
D) selective specialization

Question 18

In Porter's generic business strategy shown in Figure 19-4,quadrant "B" refers to a __________ strategy.

Accepted Answer

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

Question 19

Biopure Corporation has developed an artificial hemoglobin that can be used in place of blood transfusions and holds the patent on this product.Therefore,Biopure has a(n):

Accepted Answer

A) distinctive parity. 
B) sustainable dominance. 
C) synergistic edge. 
D) competitive advantage. 
A) distinctive parity. 
B) sustainable dominance. 
C) synergistic edge. 
D) competitive advantage.

Question 20

Sales response functions relate the:

Accepted Answer

A) expense of marketing effort to primary competitors' spending. 
B) expense of marketing effort to marketing results obtained. 
C) market share of firm to market share of primary or nearest competitor. 
D) incremental costs to market share. 
A) expense of marketing effort to primary competitors' spending. 
B) expense of marketing effort to marketing results obtained. 
C) market share of firm to market share of primary or nearest competitor. 
D) incremental costs to market share.

Which of the following pieces of information is used in the second step of the planning phase of the strategic marketing process?

Based on relative competitive scope (broad target to narrow target)and source of competitive advantage (lower cost to differentiation),Porter's four generic business strategies are differentiation,cost focus,differentiation focus,and:

Volkswagen is likely to have which generic business strategy?

The information needed for the marketing program,Step 3 of the planning phase,includes: 1)__________ and 2)detailed plans to execute the marketing program.

Which of the following output reports is used in the planning phase of the strategic marketing process?

Which statement best reflects the advice given by management experts regarding the tendency to excessively analyze a problem?

A simple strategy: "to be the low-cost provider in our niche market" is an example of a:

Which marketing strategy would most likely offer the greatest economies of scale in marketing costs?

A difficulty when a marketing plan fails is determining whether it is primarily due to a poor plan or poor implementation.Describe the grid which results from considering (1)good and bad marketing planning and (2)good and bad marketing implementation.What are the outcomes of each combination?

The actions taken in the marketing program,Step 3 of the planning phase,include: 1)develop the program's marketing mix and 2)__________.

Which of the following statements describes a disadvantage of the product manager system?

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.

A new company announces the following at a press release: "We are in the business of making luxury 150 foot yachts,and only luxury 150 foot yachts." The competition would assume this company's strategy is:

In Porter's generic business strategy shown in Figure 19-4,quadrant "B" refers to a __________ strategy.

Biopure Corporation has developed an artificial hemoglobin that can be used in place of blood transfusions and holds the patent on this product.Therefore,Biopure has a(n):

Sales response functions relate the:

Marketing: Customer Value, satisfaction, relationships, and Experiences

Developing Successful Marketing Strategies

Scanning the Marketing Environment

Ethics and Social Responsibility in Marketing

Consumer Behaviour

Organizational Markets and Buyer Behaviour

Reaching Global Markets

Marketing Research: From Information to Action

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Using Social Media to Connect With Consumers

Filters

Exam 19: Pulling It All Together: The Strategic Marketing Process

Which of the following pieces of information is used in the second step of the planning phase of the strategic marketing process?

Based on relative competitive scope (broad target to narrow target)and source of competitive advantage (lower cost to differentiation),Porter's four generic business strategies are differentiation,cost focus,differentiation focus,and:

Volkswagen is likely to have which generic business strategy?

The information needed for the marketing program,Step 3 of the planning phase,includes: 1)__________ and 2)detailed plans to execute the marketing program.

Which of the following output reports is used in the planning phase of the strategic marketing process?

Which statement best reflects the advice given by management experts regarding the tendency to excessively analyze a problem?

A simple strategy: "to be the low-cost provider in our niche market" is an example of a:

Which marketing strategy would most likely offer the greatest economies of scale in marketing costs?

A difficulty when a marketing plan fails is determining whether it is primarily due to a poor plan or poor implementation.Describe the grid which results from considering (1)good and bad marketing planning and (2)good and bad marketing implementation.What are the outcomes of each combination?

The actions taken in the marketing program,Step 3 of the planning phase,include: 1)develop the program's marketing mix and 2)__________.

Which of the following statements describes a disadvantage of the product manager system?

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.

A new company announces the following at a press release: "We are in the business of making luxury 150 foot yachts,and only luxury 150 foot yachts." The competition would assume this company's strategy is:

In Porter's generic business strategy shown in Figure 19-4,quadrant "B" refers to a __________ strategy.

Biopure Corporation has developed an artificial hemoglobin that can be used in place of blood transfusions and holds the patent on this product.Therefore,Biopure has a(n):

Sales response functions relate the:

Marketing: Customer Value, satisfaction, relationships, and Experiences

Developing Successful Marketing Strategies

Scanning the Marketing Environment

Ethics and Social Responsibility in Marketing

Consumer Behaviour

Organizational Markets and Buyer Behaviour

Reaching Global Markets

Marketing Research: From Information to Action

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Using Social Media to Connect With Consumers

Filters