Question 1

Explain what a Gantt chart is and how it is used.

Accepted Answer

A Gantt chart is a graphical representat

Question 2

Figure 22-1
-According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________.

Accepted Answer

A)  $20 million 
B)  $40 million 
C)  $50 million 
D)  $70 million 
E)  $80 million 
A)  $20 million 
B)  $40 million 
C)  $50 million 
D)  $70 million 
E)  $80 million

Question 3

Marketing ROI (return on investment)is an extension of __________.

Accepted Answer

A)  marginal analysis 
B)  marketing audits 
C)  ROI in finance 
D)  Six Sigma 
E)  the strategic marketing process 
A)  marginal analysis 
B)  marketing audits 
C)  ROI in finance 
D)  Six Sigma 
E)  the strategic marketing process

Question 4

actions taken during the evaluation phase of the strategic marketing process include: (1)compare results with plans to identify deviations and (2)__________.

Accepted Answer

A)  find points of difference 
B)  execute the marketing program 
C)  track sales and revenues and compare with competitors 
D)  develop the budget by estimating revenues, expenses, and profits 
E)  correct negative deviations and exploit positive ones 
A)  find points of difference 
B)  execute the marketing program 
C)  track sales and revenues and compare with competitors 
D)  develop the budget by estimating revenues, expenses, and profits 
E)  correct negative deviations and exploit positive ones

Question 5

Within DuPont's textile fiber department,there is a separate product manager for rayon,acetate,orlon,nylon,and Dacron.The product manager for DuPont nylon would be responsible for

Accepted Answer

A)  making long-range plans for nylon. 
B)  maintaining the divisional mission statement. 
C)  modifying DuPont's organizational structure. 
D)  creating static marketing objectives. 
E)  implementing short-term actions for all fibers. 
A)  making long-range plans for nylon. 
B)  maintaining the divisional mission statement. 
C)  modifying DuPont's organizational structure. 
D)  creating static marketing objectives. 
E)  implementing short-term actions for all fibers.

Question 6

program champion refers to

Accepted Answer

A)  a person who is able and willing to cut red tape and move the program forward. 
B)  the person within an organization who is assigned the responsibility of taking a program from conception to deletion. 
C)  a person in an organization who serves as the public representative or "face" for a new product. 
D)  a public figurehead, usually a sports figure or celebrity, who serves as a company spokesperson for a new product. 
E)  a single product within the product line that carries the other products in the line "on its back." 
A)  a person who is able and willing to cut red tape and move the program forward. 
B)  the person within an organization who is assigned the responsibility of taking a program from conception to deletion. 
C)  a person in an organization who serves as the public representative or "face" for a new product. 
D)  a public figurehead, usually a sports figure or celebrity, who serves as a company spokesperson for a new product. 
E)  a single product within the product line that carries the other products in the line "on its back."

Question 7

Loving Care Pets manufactures dog food specifically created for puppies under three months of age.In terms of the market-product grid framework,Loving Care Pets is a small firm without sustainable comparative advantages in marketing or production efficiencies.Loving Care Pets is using a __________ strategy.

Accepted Answer

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

Question 8

is the primary disadvantage of employing a market specialization strategy?

Accepted Answer

A)  Gaining market distribution will be costly. 
B)  The organization may be spread too thin. 
C)  The organization achieves neither marketing nor manufacturing synergies. 
D)  R&D-manufacturing has the difficulty of producing multiple products. 
E)  There are too many product substitutes over which a firm would not have control. 
A)  Gaining market distribution will be costly. 
B)  The organization may be spread too thin. 
C)  The organization achieves neither marketing nor manufacturing synergies. 
D)  R&D-manufacturing has the difficulty of producing multiple products. 
E)  There are too many product substitutes over which a firm would not have control.

Question 9

Synergy analysis incorporates two business analysis tools,which are diversification analysis and __________.

Accepted Answer

A)  Porter's generic business strategy 
B)  the market-product grid framework 
C)  SWOT analysis 
D)  Porter's competitive advantage 
E)  share point analysis 
A)  Porter's generic business strategy 
B)  the market-product grid framework 
C)  SWOT analysis 
D)  Porter's competitive advantage 
E)  share point analysis

Question 10

action item list refers to

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 11

________ relates the expense of the marketing effort to the marketing results obtained.

Accepted Answer

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

Question 12

Candy is a cosmetics company that markets the Palm Palette-all the make-up a "girl-on-the-go" needs without a cumbersome make-up bag.It comes in three shades-glam,funky,and girlies.Hard Candy targets women who are twenty somethings.Which one of Porter's generic business strategies does Hard Candy use?

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 13

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

Accepted Answer

A)  diversification 
B)  selective distribution 
C)  market specialization 
D)  product reorientation 
E)  new product specialization 
A)  diversification 
B)  selective distribution 
C)  market specialization 
D)  product reorientation 
E)  new product specialization

Question 14

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

Accepted Answer

A)  position the product 
B)  select target markets 
C)  develop schedules 
D)  find points of difference 
E)  develop the budget by estimating revenues, expenses, and profits 
A)  position the product 
B)  select target markets 
C)  develop schedules 
D)  find points of difference 
E)  develop the budget by estimating revenues, expenses, and profits

Question 15

of the following are ways a marketing manager can improve the implementation of a marketing program EXCEPT:

Accepted Answer

A)  reward successful implementation. 
B)  communicate goals and the means to achieve them. 
C)  schedule precise tasks, responsibilities, and deadlines. 
D)  avoid paralysis by analysis. 
E)  find the right person to implement the plans. 
A)  reward successful implementation. 
B)  communicate goals and the means to achieve them. 
C)  schedule precise tasks, responsibilities, and deadlines. 
D)  avoid paralysis by analysis. 
E)  find the right person to implement the plans.

Question 16

action item list refers to 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 17

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 planning phase of the strategic mark

Question 18

Which of the following statements best reflects the guideline for having complete and feasible plans?

Accepted Answer

A)  "The eyeglass cases will come in both hard and soft holders, in multiple colors, and we'll give them a mid-range price. They're cute enough that we might be able to cut back on advertising." 
B)  "Ideally, we should release the e-book immediately after the hard cover book comes out, but it would mean redirecting resources away from the tour." 
C)  "Our research shows the most efficient way to distribute the product is through rack jobbers, but at this point we don't know how price sensitive the market is." 
D)  "If we want to sell designer clothing for eleven fashion dolls, we need to keep prices close to the $20 range, including shipping and handling. Since the target market consists of women over 40 who use the dolls in home decorating, we need to budget funds to run ads in design magazines." 
E)  "Most people say they want more soy based products; if we could corner the soy market, we might be able to prevent the competition from entering the game." 
A)  "The eyeglass cases will come in both hard and soft holders, in multiple colors, and we'll give them a mid-range price. They're cute enough that we might be able to cut back on advertising." 
B)  "Ideally, we should release the e-book immediately after the hard cover book comes out, but it would mean redirecting resources away from the tour." 
C)  "Our research shows the most efficient way to distribute the product is through rack jobbers, but at this point we don't know how price sensitive the market is." 
D)  "If we want to sell designer clothing for eleven fashion dolls, we need to keep prices close to the $20 range, including shipping and handling. Since the target market consists of women over 40 who use the dolls in home decorating, we need to budget funds to run ads in design magazines." 
E)  "Most people say they want more soy based products; if we could corner the soy market, we might be able to prevent the competition from entering the game."

Question 19

company that uses an organizational structure based on "Dinner Products" or "Baked Goods" uses __________.

Accepted Answer

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

Question 20

Smith has just completed measuring the results of her firm's product performance.Her next step will be to

Accepted Answer

A)  do a profitability analysis. 
B)  take necessary corrective actions. 
C)  bring these to the marketing auditor. 
D)  proceed regardless of deviations from original plans. 
E)  compare the results against the goals specified in the marketing plan. 
A)  do a profitability analysis. 
B)  take necessary corrective actions. 
C)  bring these to the marketing auditor. 
D)  proceed regardless of deviations from original plans. 
E)  compare the results against the goals specified in the marketing plan.

Explain what a Gantt chart is and how it is used.

Figure 22-1 -According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________.

Marketing ROI (return on investment)is an extension of __________.

actions taken during the evaluation phase of the strategic marketing process include: (1)compare results with plans to identify deviations and (2)__________.

Within DuPont's textile fiber department,there is a separate product manager for rayon,acetate,orlon,nylon,and Dacron.The product manager for DuPont nylon would be responsible for

program champion refers to

is the primary disadvantage of employing a market specialization strategy?

Synergy analysis incorporates two business analysis tools,which are diversification analysis and __________.

action item list refers to

________ relates the expense of the marketing effort to the marketing results obtained.

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

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

of the following are ways a marketing manager can improve the implementation of a marketing program EXCEPT:

action item list refers to 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.

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

Which of the following statements best reflects the guideline for having complete and feasible plans?

company that uses an organizational structure based on "Dinner Products" or "Baked Goods" uses __________.

Smith has just completed measuring the results of her firm's product performance.Her next step will be to

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

Explain what a Gantt chart is and how it is used.

Figure 22-1 -According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________.

Marketing ROI (return on investment)is an extension of __________.

actions taken during the evaluation phase of the strategic marketing process include: (1)compare results with plans to identify deviations and (2)__________.

Within DuPont's textile fiber department,there is a separate product manager for rayon,acetate,orlon,nylon,and Dacron.The product manager for DuPont nylon would be responsible for

program champion refers to

is the primary disadvantage of employing a market specialization strategy?

Synergy analysis incorporates two business analysis tools,which are diversification analysis and __________.

action item list refers to

________ relates the expense of the marketing effort to the marketing results obtained.

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

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

of the following are ways a marketing manager can improve the implementation of a marketing program EXCEPT:

action item list refers to 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.

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

Which of the following statements best reflects the guideline for having complete and feasible plans?

company that uses an organizational structure based on "Dinner Products" or "Baked Goods" uses __________.

Smith has just completed measuring the results of her firm's product performance.Her next step will be to

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