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

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?

Marketing plans must enable results to be compared with planned targets, which allows __________, the flexibility to update original plans based on recent results.

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 input metric?

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

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

Today, the implementation phase of the strategic marketing process often involves moving many planning activities away from the duties of planners to those of __________ responsible for implementing the plans.

As the marketing manager for Acme Products Inc., you just became the new program leader for Baubles, a product Acme introduced last year. Initial sales far exceeded expectations. In response, the previous program leader decided to reduce the profit margins for channel members to more quickly recover the high costs incurred in the development of the Baubles product and its marketing program. Unfortunately, sales of Acme Baubles declined by 5 percent while its market share declined by 7 percent as new competitors entered the market. After conducting a customer survey, you concluded that customers were generally satisfied with Acme's Baubles. However, Baubles were not as readily accessible as they were the previous year. Furthermore, after conducting a survey among the leading wholesalers and retailers of Acme Baubles, you discovered they were not pleased with the reduced margins. Moreover, because Acme's principal competitors offered them greater margins, they gave their products better service and shelf space than Acme's. This is an example of

Porter's four generic business strategies involve combinations of: (1) __________ and (2) a stress on costs versus product differentiation.

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

In the early 1900s, Henry Ford revolutionized the automobile industry by developing production lines and mass-producing the Ford Model T automobile. By heavily reducing production costs, Ford made the Model T affordable for the average American family. What generic business strategy did Ford use to gain a competitive advantage in the automobile market?

General Mills is concerned with both selling its products and brands in countries around the world and obtaining ideas for new products from anyone anywhere who has a great product or technology. You can send General Mills your great new-product or technology idea through its Internet portal if the product or technology can

The actions taken during the implementation phase of the strategic marketing process include: (1) __________, (2) design the marketing organization, (3) develop schedules, and (4) execute the marketing program.

Which of the following types of test marketing techniques was primarily used in market research for General Mills Warm Delights?

Which of the following types of firms had both planning and implementation problems that caused them to fail?

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

Which of the following is a typical objective for value-based planning?

The actions taken during the evaluation phase of the strategic marketing process include: (1) __________ and (2) exploit positive deviations and correct negative ones.

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

When a marketing plan fails, what should a marketer do in terms of looking for the source of the problem?

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