Question 1

Management experts call for a "bias for action." How can this attitude be important in marketing program implementation?

Accepted Answer

Management experts have concluded perfec

Question 2

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as

Accepted Answer

A) differentiation analysis. 
B) synergy analysis. 
C) SWOT analysis. 
D) sales response analysis. 
E) competitive grid analysis. 
A) differentiation analysis. 
B) synergy analysis. 
C) SWOT analysis. 
D) sales response analysis. 
E) competitive grid analysis.

Question 3

Reflecting on the research study of over 200 management tools and techniques, which of the following companies is an example of a firm that excels based on its organizational structure?

Accepted Answer

A) Costco 
B) Smucker's 
C) Lockheed Martin's Skunk Works 
D) Coca-Cola 
E) Kodak 
A) Costco 
B) Smucker's 
C) Lockheed Martin's Skunk Works 
D) Coca-Cola 
E) Kodak

Question 4

List the three phases of the strategic marketing process and the output report for each.

Accepted Answer

(1) Planning is the first phase. Its out

Question 5

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 6

The strategic marketing process involves three phases: planning, implementation, and

Accepted Answer

A) review. 
B) execution. 
C) evaluation. 
D) goal revision. 
E) correction. 
A) review. 
B) execution. 
C) evaluation. 
D) goal revision. 
E) correction.

Question 7

You have been told that a company increased its marketing effort from $3 million to $5 million, resulting in increased sales revenue from $10 million to $20 million. Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Accepted Answer

A) 4:1 
B) 1:5 
C) 5:1 
D) 1:4 
E) 5:1.5 
A) 4:1 
B) 1:5 
C) 5:1 
D) 1:4 
E) 5:1.5

Question 8

Market-based 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 functional 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 functional groupings with product groupings.

Question 9

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

Accepted Answer

A) continuous improvement. 
B) multilevel input. 
C) make haste, not waste. 
D) continuous production. 
E) continuous communication. 
A) continuous improvement. 
B) multilevel input. 
C) make haste, not waste. 
D) continuous production. 
E) continuous communication.

Question 10

Key problems that emerge in a firm's strategic marketing process include: (1) bad news is filtered out as information goes up the line to give top management a very rosy picture; (2) plans are based on very poor assumptions about environmental forces; (3) planners and their plans may have lost sight of their customers' needs; (4) too much time and effort may be spent on data collection and writing plans that are too complex to implement; and (5) __________.

Accepted Answer

A) there is poor communication between the firm and its stakeholders 
B) although management says they are behind the plans, they do not allocate resources to the degree necessary for success 
C) there is a lack of leadership 
D) plans can be thwarted by disgruntled employees, other departments, or competitors 
E) line operating managers often feel no sense of ownership in implementing the plans 
A) there is poor communication between the firm and its stakeholders 
B) although management says they are behind the plans, they do not allocate resources to the degree necessary for success 
C) there is a lack of leadership 
D) plans can be thwarted by disgruntled employees, other departments, or competitors 
E) line operating managers often feel no sense of ownership in implementing the plans

Question 11

The mathematical function that relates the expense of marketing effort to the marketing results obtained is referred to as

Accepted Answer

A) marketing ROI. 
B) market share profitability. 
C) share point analysis. 
D) synergy analysis. 
E) a sales response function. 
A) marketing ROI. 
B) market share profitability. 
C) share point analysis. 
D) synergy analysis. 
E) a sales response function.

Question 12

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

Accepted Answer

A) marketing return on investment 
B) marketing research reports 
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) marketing research reports 
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 13

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 14

An action item list is an aid to implement a marketing plan that consists of four columns: (1) the task, (2) __________, (3) the date to finish the task, and (4) what is to be delivered.

Accepted Answer

A) the budget 
B) the product or service 
C) the points of difference 
D) the promotional message 
E) the person responsible for completing the task 
A) the budget 
B) the product or service 
C) the points of difference 
D) the promotional message 
E) the person responsible for completing the task

Question 15

Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process?

Accepted Answer

A) marketing return on investment 
B) market share for the product 
C) trends for industry and competitors 
D) revenues associated with each point of market share 
E) possible cannibalization effects on other products in the line 
A) marketing return on investment 
B) market share for the product 
C) trends for industry and competitors 
D) revenues associated with each point of market share 
E) possible cannibalization effects on other products in the line

Question 16

What is the difference between line and staff positions in a marketing organization?

Accepted Answer

People in line positions, such as group

Question 17

Synergy analysis seeks opportunities by finding the optimum balance between

Accepted Answer

A) the needs of the manufacturer versus the needs of the consumer. 
B) the desire for profit versus responsibility to society as a whole. 
C) the expense of marketing effort versus the marketing results obtained. 
D) a firm's market segments and its product groupings. 
E) marketing efficiencies versus R&D-manufacturing efficiencies. 
A) the needs of the manufacturer versus the needs of the consumer. 
B) the desire for profit versus responsibility to society as a whole. 
C) the expense of marketing effort versus the marketing results obtained. 
D) a firm's market segments and its product groupings. 
E) marketing efficiencies versus R&D-manufacturing efficiencies.

Question 18

An action item list is

Accepted Answer

A) a list of topics to be covered during a meeting that shows the running time allocated to and the person(s) responsible for leading the discussion for each topic. 
B) a chart that demonstrates how a set of tasks for a project can be sequentially and concurrently completed by specified times. 
C) an aid to implementing a marketing plan consisting of four columns: (1) the task, (2) the person responsible for completing that task, (3) the date to finish the task, and (4) what is to be delivered. 
D) a tool that shows the relationships through time of the various program tasks, which involves: (1) identifying the main tasks; (2) determining the time required to complete each task; (3) arranging the activities to meet the deadline; and (4) assigning people the responsibilities to complete each task. 
E) a statistical tool, used in project management, that is designed to analyze and represent the tasks involved in completing a given project. 
A) a list of topics to be covered during a meeting that shows the running time allocated to and the person(s) responsible for leading the discussion for each topic. 
B) a chart that demonstrates how a set of tasks for a project can be sequentially and concurrently completed by specified times. 
C) an aid to implementing a marketing plan consisting of four columns: (1) the task, (2) the person responsible for completing that task, (3) the date to finish the task, and (4) what is to be delivered. 
D) a tool that shows the relationships through time of the various program tasks, which involves: (1) identifying the main tasks; (2) determining the time required to complete each task; (3) arranging the activities to meet the deadline; and (4) assigning people the responsibilities to complete each task. 
E) a statistical tool, used in project management, that is designed to analyze and represent the tasks involved in completing a given project.

Question 19

There are five alternative marketing strategies that can be identified by market-product grids: market-product concentration, market specialization, product specialization, selective specialization, and

Accepted Answer

A) full coverage. 
B) diversification. 
C) market specialization. 
D) selective specialization. 
E) new-product specialization. 
A) full coverage. 
B) diversification. 
C) market specialization. 
D) selective specialization. 
E) new-product specialization.

Question 20

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?

Accepted Answer

A) market-product grids with targets 
B) marketing return on investment 
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) market-product grids with targets 
B) marketing return on investment 
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

Management experts call for a "bias for action." How can this attitude be important in marketing program implementation?

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as

Reflecting on the research study of over 200 management tools and techniques, which of the following companies is an example of a firm that excels based on its organizational structure?

List the three phases of the strategic marketing process and the output report for each.

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

The strategic marketing process involves three phases: planning, implementation, and

You have been told that a company increased its marketing effort from $3 million to $5 million, resulting in increased sales revenue from $10 million to $20 million. Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Market-based groupings are organizational groupings

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

The mathematical function that relates the expense of marketing effort to the marketing results obtained is referred to as

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

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

An action item list is an aid to implement a marketing plan that consists of four columns: (1) the task, (2) __________, (3) the date to finish the task, and (4) what is to be delivered.

Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process?

What is the difference between line and staff positions in a marketing organization?

Synergy analysis seeks opportunities by finding the optimum balance between

An action item list is

There are five alternative marketing strategies that can be identified by market-product grids: market-product concentration, market specialization, product specialization, selective specialization, and

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?

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

Financial Aspects of Marketing

Building an Effective Marketing Plan

Filters