Question 1

is the primary disadvantage of employing a full coverage 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 new lines. 
E)  The organization cannot take advantage of marketing or manufacturing synergies available to it through market or product specialization. 
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 new lines. 
E)  The organization cannot take advantage of marketing or manufacturing synergies available to it through market or product specialization.

Question 2

phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the evaluation phase?

Accepted Answer

A)  performance reviews for key personnel 
B)  corrective action memos, triggered by comparing results with goals, often using the firm's marketing dashboards and metrics 
C)  sales reports using the firm's marketing metrics and dashboards 
D)  action memos that tell who is to do what by when 
E)  marketing plans that define goals with the relevant metrics and the marketing mix strategies to achieve them 
A)  performance reviews for key personnel 
B)  corrective action memos, triggered by comparing results with goals, often using the firm's marketing dashboards and metrics 
C)  sales reports using the firm's marketing metrics and dashboards 
D)  action memos that tell who is to do what by when 
E)  marketing plans that define goals with the relevant metrics and the marketing mix strategies to achieve them

Question 3

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 2 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 the competitors' products better service and shelf space than Acme's.This is an example of

Accepted Answer

A)  an appropriate marketing strategy and effective implementation. 
B)  an inappropriate marketing strategy but effective implementation. 
C)  an appropriate marketing strategy but ineffective implementation. 
D)  an inappropriate marketing strategy and ineffective implementation. 
E)  ineffective evaluation. 
A)  an appropriate marketing strategy and effective implementation. 
B)  an inappropriate marketing strategy but effective implementation. 
C)  an appropriate marketing strategy but ineffective implementation. 
D)  an inappropriate marketing strategy and ineffective implementation. 
E)  ineffective evaluation.

Question 4

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

Accepted Answer

A)  marketing plans that define goals 
B)  projections of sales and expenses 
C)  action memos that tell who is to do what by when 
D)  corrective action memos 
E)  tracking reports 
A)  marketing plans that define goals 
B)  projections of sales and expenses 
C)  action memos that tell who is to do what by when 
D)  corrective action memos 
E)  tracking reports

Question 5

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as __________.

Accepted Answer

A)  second-guessing 
B)  paralysis by analysis 
C)  better to ask for forgiveness than permission 
D)  stay with the pack 
E)  letting sleeping dogs lie 
A)  second-guessing 
B)  paralysis by analysis 
C)  better to ask for forgiveness than permission 
D)  stay with the pack 
E)  letting sleeping dogs lie

Question 6

using share points to make marketing resource allocation decisions,marketing managers must estimate: (1)the market share for the product, (2)the revenues associated with each point of market share, (3)__________,and (4)possible cannibalization effects on other products in the line.

Accepted Answer

A)  total production costs 
B)  number of market segments 
C)  stage of the product in its product life cycle 
D)  the contribution to overhead and profit of each share point 
E)  the total financial resources available for a sustained marketing effort 
A)  total production costs 
B)  number of market segments 
C)  stage of the product in its product life cycle 
D)  the contribution to overhead and profit of each share point 
E)  the total financial resources available for a sustained marketing effort

Question 7

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

Accepted Answer

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

Question 8

using share points to make marketing resource allocation decisions,marketing managers must estimate: (1)__________, (2)the revenues associated with each point of market, (3)the contribution to overhead and profit (or gross margin)of each share point,and (4)possible cannibalization effects on other products in the line.

Accepted Answer

A)  the market share for the product 
B)  the number of market segments 
C)  the total production costs 
D)  the total financial resources available for a sustained marketing effort 
E)  the stage of the product in its product life cycle 
A)  the market share for the product 
B)  the number of market segments 
C)  the total production costs 
D)  the total financial resources available for a sustained marketing effort 
E)  the stage of the product in its product life cycle

Question 9

phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

Accepted Answer

A)  performance reviews for key personnel 
B)  corrective action memos, triggered by comparing results with plans, often from the firm's marketing dashboards and metrics 
C)  sales reports using the firm's marketing metrics and dashboards 
D)  action memos that tell who is to do what by when 
E)  marketing plans that define goals with the relevant metrics and the marketing mix strategies to achieve them 
A)  performance reviews for key personnel 
B)  corrective action memos, triggered by comparing results with plans, often from the firm's marketing dashboards and metrics 
C)  sales reports using the firm's marketing metrics and dashboards 
D)  action memos that tell who is to do what by when 
E)  marketing plans that define goals with the relevant metrics and the marketing mix strategies to achieve them

Question 10

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)__________; (4)too much time and effort may be spent on data collection and writing plans that are too complex to implement; and (5)line operating managers often feel no sense of ownership in implementing the plans.

Accepted Answer

A)  there is poor communication between the firm and its stakeholders 
B)  there is a lack of leadership 
C)  although management says they are behind the plans, they do not allocate resources to the degree necessary for success 
D)  planners and their plans may have lost sight of their customers' needs 
E)  plans can be thwarted by disgruntled employees, other departments, or competitors 
A)  there is poor communication between the firm and its stakeholders 
B)  there is a lack of leadership 
C)  although management says they are behind the plans, they do not allocate resources to the degree necessary for success 
D)  planners and their plans may have lost sight of their customers' needs 
E)  plans can be thwarted by disgruntled employees, other departments, or competitors

Question 11

information needed for the marketing program,Step 3 of the planning phase,includes: (1)marketing mix actions and (2)__________.

Accepted Answer

A)  positioning studies 
B)  market-product grids with target segments and product groupings 
C)  detailed plans to execute the marketing program 
D)  projected future sales, expenses, and profits 
E)  trends for industry and competitors 
A)  positioning studies 
B)  market-product grids with target segments and product groupings 
C)  detailed plans to execute the marketing program 
D)  projected future sales, expenses, and profits 
E)  trends for industry and competitors

Question 12

is the primary disadvantage of employing a product specialization strategy?

Accepted Answer

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

Question 13

matrix organization

Accepted Answer

A)  combines a product line structure with a geographical structure. 
B)  combines a geographical structure with a market-based structure. 
C)  combines market-based groupings with product groupings. 
D)  turns a horizontal organizational structure into a vertical one. 
E)  groups products according to the distribution system that is used. 
A)  combines a product line structure with a geographical structure. 
B)  combines a geographical structure with a market-based structure. 
C)  combines market-based groupings with product groupings. 
D)  turns a horizontal organizational structure into a vertical one. 
E)  groups products according to the distribution system that is used.

Question 14

Marketing plans that cover marketing activities from two to five years into the future are referred to as __________.

Accepted Answer

A)  marketing tactics 
B)  marketing strategies 
C)  generic marketing strategies 
D)  short-term marketing plans 
E)  long-range marketing plans 
A)  marketing tactics 
B)  marketing strategies 
C)  generic marketing strategies 
D)  short-term marketing plans 
E)  long-range marketing plans

Question 15

Hyundai Motor America (HMA)became the first automaker to offer consumers an Internet parts ordering system.The system was targeted only to current Hyundai owners and gave Hyundai the ability to collect a vast amount of customer data about people who buy its cars.Which of Porter's generic business strategies did Hyundai use when it launched its Internet parts website?

Accepted Answer

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

Question 16

is the name of the tool shown in Figure 22-7 above that is the basis for the scheduling techniques used today in marketing and production?

Accepted Answer

A)  a market-product grid 
B)  a Gantt chart 
C)  a project schedule 
D)  a sales response function 
E)  a Plan-A-Gram 
A)  a market-product grid 
B)  a Gantt chart 
C)  a project schedule 
D)  a sales response function 
E)  a Plan-A-Gram

Question 17

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

Accepted Answer

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

Question 18

website introduces its Master Yogurt Maker,who is "an artisan armed with years of yogurt-making experience." This has helped the __________ company succeed with its __________ brand.

Accepted Answer

A)  Dannon; Oikos 
B)  Procter & Gamble; Mount Olympus 
C)  Kraft Foods; Athenos 
D)  Agro Farms; Chobani 
E)  General Mills; Yoplait 
A)  Dannon; Oikos 
B)  Procter & Gamble; Mount Olympus 
C)  Kraft Foods; Athenos 
D)  Agro Farms; Chobani 
E)  General Mills; Yoplait

Question 19

is the primary disadvantage of employing a selective 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 new lines. 
E)  It is too risky for a company to "put all its eggs in one basket." 
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 new lines. 
E)  It is too risky for a company to "put all its eggs in one basket."

Question 20

Figure 22-3
-a recent survey,responding firms reported that on average they used eight metrics to measure their innovation.Figure 22-3 above shows that among firms that use more than three different innovation metrics,they use two different kinds-output metrics and input metrics.Which of the following is an output metric?

Accepted Answer

A)  number of ideas or concepts in the pipeline 
B)  R&D spending as a percentage of sales 
C)  return on assets (RO
A)  in the pipeline 
D)  customer satisfaction with new products or services 
E)  number of R&D projects 
A)  number of ideas or concepts in the pipeline 
B)  R&D spending as a percentage of sales 
C)  return on assets (RO
A)  in the pipeline 
D)  customer satisfaction with new products or services 
E)  number of R&D projects

is the primary disadvantage of employing a full coverage strategy?

phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the evaluation phase?

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

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as __________.

using share points to make marketing resource allocation decisions,marketing managers must estimate: (1)the market share for the product, (2)the revenues associated with each point of market share, (3)__________,and (4)possible cannibalization effects on other products in the line.

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

phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

information needed for the marketing program,Step 3 of the planning phase,includes: (1)marketing mix actions and (2)__________.

is the primary disadvantage of employing a product specialization strategy?

matrix organization

Marketing plans that cover marketing activities from two to five years into the future are referred to as __________.

is the name of the tool shown in Figure 22-7 above that is the basis for the scheduling techniques used today in marketing and production?

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

website introduces its Master Yogurt Maker,who is "an artisan armed with years of yogurt-making experience." This has helped the company succeed with its brand.

is the primary disadvantage of employing a selective specialization strategy?

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

is the primary disadvantage of employing a full coverage strategy?

phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the evaluation phase?

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

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as __________.

using share points to make marketing resource allocation decisions,marketing managers must estimate: (1)the market share for the product, (2)the revenues associated with each point of market share, (3)__________,and (4)possible cannibalization effects on other products in the line.

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

phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

information needed for the marketing program,Step 3 of the planning phase,includes: (1)marketing mix actions and (2)__________.

is the primary disadvantage of employing a product specialization strategy?

matrix organization

Marketing plans that cover marketing activities from two to five years into the future are referred to as __________.

is the name of the tool shown in Figure 22-7 above that is the basis for the scheduling techniques used today in marketing and production?

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

website introduces its Master Yogurt Maker,who is "an artisan armed with years of yogurt-making experience." This has helped the __________ company succeed with its __________ brand.

is the primary disadvantage of employing a selective specialization strategy?

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

website introduces its Master Yogurt Maker,who is "an artisan armed with years of yogurt-making experience." This has helped the company succeed with its brand.