Question 1

Figure 22-5
-Figure 22-5 above,the market-product grid labeled "A" illustrates which of the following market-product strategies?

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 2

of Vivian Callaway's problems in finding a new dessert product was that consumers often say one thing in a market research study,then behave differently in an actual supermarket setting.To overcome this problem,Callaway and her team did a lot of "iterative experimentation" in the marketplace.This strategy involved

Accepted Answer

A)  interviewing only those customers who were leaving the supermarket with a RTE dessert product. 
B)  interviewing only those customers who were leaving the supermarket without an RTE dessert. 
C)  conducting market research on desserts in shopping malls so customers didn't know which dessert was being studied, thereby reducing bias. 
D)  offering customers two samples of the identical product to cull out respondents who couldn't give an accurate assessment. 
E)  putting a prototype product in the store, making changes based upon consumer responses, and then repeating the process. 
A)  interviewing only those customers who were leaving the supermarket with a RTE dessert product. 
B)  interviewing only those customers who were leaving the supermarket without an RTE dessert. 
C)  conducting market research on desserts in shopping malls so customers didn't know which dessert was being studied, thereby reducing bias. 
D)  offering customers two samples of the identical product to cull out respondents who couldn't give an accurate assessment. 
E)  putting a prototype product in the store, making changes based upon consumer responses, and then repeating the process.

Question 3

firm following a differentiation strategy shown in Figure 22-4 above would be found in __________.

Accepted Answer

A)  "A" 
B)  "B" 
C)  "C" 
D)  "D" 
E)  both "B" and "D" 
A)  "A" 
B)  "B" 
C)  "C" 
D)  "D" 
E)  both "B" and "D"

Question 4

Vivian Calloway's marketing research team discovered that consumers like to see the chocolate chips on top of their chocolate chip cookies.Taking a risk,General Mills invested in new manufacturing equipment to make this a reality.The result was that

Accepted Answer

A)  although customers said they wanted to see the chips on top of the cookie, there was no significant increase in sales when the chips were placed there. 
B)  the cost and maintenance of the new equipment exceeded any gains in revenues. 
C)  sales of chocolate chip cookies fell dramatically, but when the same strategy was adapted to other cookies, such as raisins placed on top of oatmeal cookies, the experiment was a tremendous success. 
D)  although sales increased by approximately 4%, the decision whether the experiment was a success or a failure remains uncertain. 
E)  sales increased 50 percent when the chocolate chips were placed on top of the cookies. 
A)  although customers said they wanted to see the chips on top of the cookie, there was no significant increase in sales when the chips were placed there. 
B)  the cost and maintenance of the new equipment exceeded any gains in revenues. 
C)  sales of chocolate chip cookies fell dramatically, but when the same strategy was adapted to other cookies, such as raisins placed on top of oatmeal cookies, the experiment was a tremendous success. 
D)  although sales increased by approximately 4%, the decision whether the experiment was a success or a failure remains uncertain. 
E)  sales increased 50 percent when the chocolate chips were placed on top of the cookies.

Question 5

According to Porter's four generic business strategies framework,a __________ strategy focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.

Accepted Answer

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

Question 6

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 target segments and product groupings 
D)  projected future sales, expenses, and profits 
E)  market potential studies 
A)  positioning studies 
B)  marketing mix actions 
C)  market-product grids with target segments and product groupings 
D)  projected future sales, expenses, and profits 
E)  market potential studies

Question 7

Annual __________ are documents that deal with the marketing goals and strategies for a product,product line,or entire firm for a single year.

Accepted Answer

A)  production estimates 
B)  sales forecasts 
C)  budget projections 
D)  marketing plans 
E)  tactical forecasts 
A)  production estimates 
B)  sales forecasts 
C)  budget projections 
D)  marketing plans 
E)  tactical forecasts

Question 8

basic business and management practices are important,according to researchers who studied more than 200 management tools and techniques.These are: (1)strategy, (2)execution, (3)__________,and (4)structure.

Accepted Answer

A)  charismatic leadership 
B)  culture 
C)  quality 
D)  sustainability 
E)  ethics 
A)  charismatic leadership 
B)  culture 
C)  quality 
D)  sustainability 
E)  ethics

Question 9

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

Accepted Answer

A)  focuses on reducing expenses and, in turn, lowers product prices, while targeting a broad array of market segments. 
B)  requires products to have significant points of difference to target one or only a few market segments. 
C)  requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments. 
D)  involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of markets segments. 
E)  seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
A)  focuses on reducing expenses and, in turn, lowers product prices, while targeting a broad array of market segments. 
B)  requires products to have significant points of difference to target one or only a few market segments. 
C)  requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments. 
D)  involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of markets segments. 
E)  seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Question 10

Porter's four generic business strategies are differentiation,cost focus,__________,and cost leadership.

Accepted Answer

A)  exclusivity 
B)  differentiation focus 
C)  quality focus 
D)  geographic span 
E)  service leadership 
A)  exclusivity 
B)  differentiation focus 
C)  quality focus 
D)  geographic span 
E)  service leadership

Question 11

person who is able and willing to cut red tape and move a program forward is referred to as a

Accepted Answer

A)  channel captain. 
B)  marketing mediator. 
C)  program director. 
D)  program champion. 
E)  program facilitator. 
A)  channel captain. 
B)  marketing mediator. 
C)  program director. 
D)  program champion. 
E)  program facilitator.

Question 12

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

Accepted Answer

A)  find points of difference 
B)  execute the marketing program 
C)  compare results with plans to identify deviations 
D)  track sales and revenues and compare with competitors 
E)  develop the budget by estimating revenues, expenses, and profits 
A)  find points of difference 
B)  execute the marketing program 
C)  compare results with plans to identify deviations 
D)  track sales and revenues and compare with competitors 
E)  develop the budget by estimating revenues, expenses, and profits

Question 13

Figure 22-4
-Porter's generic business strategies shown in Figure 22-4 above,"C" refers to a __________ strategy.

Accepted Answer

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

Question 14

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

Accepted Answer

A)  replanning 
B)  contingency planning 
C)  recursive planning 
D)  dynamic planning 
E)  proactive change 
A)  replanning 
B)  contingency planning 
C)  recursive planning 
D)  dynamic planning 
E)  proactive change

Question 15

Yoplait Yogurt,Thomas's English Muffins,Kellogg's Rice Krispies,Egg McMuffins at MacDonald's,private label "bagged" cereal,and Lender's Bagels all relate to General Mills' Cheerios because

Accepted Answer

A)  they must all deal with issues of childhood food allergies. 
B)  they all represent products that can be breakfast substitutes for one another. 
C)  they all share the same corporate umbrella. 
D)  they are all front-runners in low-fat, low-carb food choices. 
E)  they all failed their first attempts in the marketplace and only succeeded after multiple product changes. 
A)  they must all deal with issues of childhood food allergies. 
B)  they all represent products that can be breakfast substitutes for one another. 
C)  they all share the same corporate umbrella. 
D)  they are all front-runners in low-fat, low-carb food choices. 
E)  they all failed their first attempts in the marketplace and only succeeded after multiple product changes.

Question 16

actions taken in a situation (SWOT)analysis or Step 1 of the planning phase include: (1)identify industry trends, (2)__________, (3)assess own company,and (4)research customers.

Accepted Answer

A)  set market and product goals 
B)  select target markets 
C)  find points of difference 
D)  analyze competitors 
E)  position the product 
A)  set market and product goals 
B)  select target markets 
C)  find points of difference 
D)  analyze competitors 
E)  position the product

Question 17

people are concerned about "eating healthy," but many of these same people still grab lunch at fast food restaurants because the restaurants are convenient and they like cheeseburgers.Burger King has created a veggie burger that "tastes like the real thing without all the fat." Burger King is using a __________ strategy to attract this large market that encompasses many different segments.

Accepted Answer

A)  cost leadership strategy 
B)  cost focus strategy 
C)  differentiation strategy 
D)  different focus strategy 
E)  service focus strategy 
A)  cost leadership strategy 
B)  cost focus strategy 
C)  differentiation strategy 
D)  different focus strategy 
E)  service focus strategy

Question 18

the six guidelines for improving implementation of marketing programs.

Accepted Answer

The six guidelines for improving impleme

Question 19

Procter & Gamble uses category managers to organize by "global business units" such as baby care and beauty care.Cutting across country boundaries,these global business units implement standardized worldwide pricing,marketing,and distribution strategies.The baby care category manager would have

Accepted Answer

A)  completely different duties from the brand manager. 
B)  profit and loss responsibility for all baby care products in the line. 
C)  to use persuasion as opposed to direct authority to get any goals achieved. 
D)  no authority over functions, except marketing, that affects baby care products. 
E)  no authority on U.S. baby care product sales. 
A)  completely different duties from the brand manager. 
B)  profit and loss responsibility for all baby care products in the line. 
C)  to use persuasion as opposed to direct authority to get any goals achieved. 
D)  no authority over functions, except marketing, that affects baby care products. 
E)  no authority on U.S. baby care product sales.

Question 20

actions taken during market product focus and goal setting,Step 2 of the planning phase,include: (1)__________, (2)select target markets, (3)find points of difference,and (4)position the product.

Accepted Answer

A)  identify industry trends 
B)  research customers 
C)  set market and product goals 
D)  develop the program's marketing mix 
E)  develop the budget by estimating revenues, expenses, and profits 
A)  identify industry trends 
B)  research customers 
C)  set market and product goals 
D)  develop the program's marketing mix 
E)  develop the budget by estimating revenues, expenses, and profits

Figure 22-5 -Figure 22-5 above,the market-product grid labeled "A" illustrates which of the following market-product strategies?

firm following a differentiation strategy shown in Figure 22-4 above would be found in __________.

Vivian Calloway's marketing research team discovered that consumers like to see the chocolate chips on top of their chocolate chip cookies.Taking a risk,General Mills invested in new manufacturing equipment to make this a reality.The result was that

According to Porter's four generic business strategies framework,a __________ strategy focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.

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

Annual __________ are documents that deal with the marketing goals and strategies for a product,product line,or entire firm for a single year.

basic business and management practices are important,according to researchers who studied more than 200 management tools and techniques.These are: (1)strategy, (2)execution, (3)__________,and (4)structure.

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

Porter's four generic business strategies are differentiation,cost focus,__________,and cost leadership.

person who is able and willing to cut red tape and move a program forward is referred to as a

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

Figure 22-4 -Porter's generic business strategies shown in Figure 22-4 above,"C" refers to a __________ strategy.

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

Yoplait Yogurt,Thomas's English Muffins,Kellogg's Rice Krispies,Egg McMuffins at MacDonald's,private label "bagged" cereal,and Lender's Bagels all relate to General Mills' Cheerios because

actions taken in a situation (SWOT)analysis or Step 1 of the planning phase include: (1)identify industry trends, (2)__________, (3)assess own company,and (4)research customers.

the six guidelines for improving implementation of marketing programs.

Procter & Gamble uses category managers to organize by "global business units" such as baby care and beauty care.Cutting across country boundaries,these global business units implement standardized worldwide pricing,marketing,and distribution strategies.The baby care category manager would have

actions taken during market product focus and goal setting,Step 2 of the planning phase,include: (1)__________, (2)select target markets, (3)find points of difference,and (4)position the product.

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 Multi-Channel Marketing

Filters

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

Figure 22-5 -Figure 22-5 above,the market-product grid labeled "A" illustrates which of the following market-product strategies?

firm following a differentiation strategy shown in Figure 22-4 above would be found in __________.

Vivian Calloway's marketing research team discovered that consumers like to see the chocolate chips on top of their chocolate chip cookies.Taking a risk,General Mills invested in new manufacturing equipment to make this a reality.The result was that

According to Porter's four generic business strategies framework,a __________ strategy focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.

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

Annual __________ are documents that deal with the marketing goals and strategies for a product,product line,or entire firm for a single year.

basic business and management practices are important,according to researchers who studied more than 200 management tools and techniques.These are: (1)strategy, (2)execution, (3)__________,and (4)structure.

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

Porter's four generic business strategies are differentiation,cost focus,__________,and cost leadership.

person who is able and willing to cut red tape and move a program forward is referred to as a

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

Figure 22-4 -Porter's generic business strategies shown in Figure 22-4 above,"C" refers to a __________ strategy.

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

Yoplait Yogurt,Thomas's English Muffins,Kellogg's Rice Krispies,Egg McMuffins at MacDonald's,private label "bagged" cereal,and Lender's Bagels all relate to General Mills' Cheerios because

actions taken in a situation (SWOT)analysis or Step 1 of the planning phase include: (1)identify industry trends, (2)__________, (3)assess own company,and (4)research customers.

the six guidelines for improving implementation of marketing programs.

Procter & Gamble uses category managers to organize by "global business units" such as baby care and beauty care.Cutting across country boundaries,these global business units implement standardized worldwide pricing,marketing,and distribution strategies.The baby care category manager would have

actions taken during market product focus and goal setting,Step 2 of the planning phase,include: (1)__________, (2)select target markets, (3)find points of difference,and (4)position the product.

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 Multi-Channel Marketing

Filters