Question 1

Which of the following statements best reflects the guideline for making plans controllable and flexible?

Accepted Answer

A)  "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." 
B)  "According to our marketing dashboard, the most effective promotional spending in the past has come from radio ads. Their prices have almost doubled, but if that's what we're supposed to do-that's what will we do." 
C)  "Connie, you'll be in charge of ticket sales. If we fill half the seats during the first day, we might consider adding an additional performance as a Sunday matinee." 
D)  "We've been offered the chance to do a personal interview on national TV. I know the host is a wild card, but any publicity is good publicity." 
E)  "We're shooting for a 12 percent market share. We're at 10 percent to date. Unfortunately, our budget is shot so we'll just have to see what happens." 
A)  "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." 
B)  "According to our marketing dashboard, the most effective promotional spending in the past has come from radio ads. Their prices have almost doubled, but if that's what we're supposed to do-that's what will we do." 
C)  "Connie, you'll be in charge of ticket sales. If we fill half the seats during the first day, we might consider adding an additional performance as a Sunday matinee." 
D)  "We've been offered the chance to do a personal interview on national TV. I know the host is a wild card, but any publicity is good publicity." 
E)  "We're shooting for a 12 percent market share. We're at 10 percent to date. Unfortunately, our budget is shot so we'll just have to see what happens."

Question 2

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 3

Figure 22-10: General Mills Marketing Dashboard Chart "D"
-Consider Figure 22-10: General Mills Marketing Dashboard Chart "D" above.As part of the Warm Delights team at General Mills,you are asked to analyze and interpret the marketing dashboard for Warm Delights Minis.After a careful analysis of Chart "D," you are especially interested in major changes from November to December.As a result,you would look most carefully at

Accepted Answer

A)  the total amount spent on Warm Delights (regular) by customers in November and December. 
B)  the preference of Warm Delights Minis over Warm Delights (regular). 
C)  the distribution channel preferences of customers. 
D)  the level of analysis for sales results for the total sales Warm Delights. 
E)  the differences in the numbers of Warm Delights Minis flavors carried by different outlets for November and December. 
A)  the total amount spent on Warm Delights (regular) by customers in November and December. 
B)  the preference of Warm Delights Minis over Warm Delights (regular). 
C)  the distribution channel preferences of customers. 
D)  the level of analysis for sales results for the total sales Warm Delights. 
E)  the differences in the numbers of Warm Delights Minis flavors carried by different outlets for November and December.

Question 4

application of modern measurement technologies to understand,quantify,and optimize marketing spending is referred to as __________.

Accepted Answer

A)  situation analysis 
B)  strategic marketing analysis 
C)  marketing ROA (return on assets) 
D)  marketing ROI (return on investment) 
E)  marketing response evaluation 
A)  situation analysis 
B)  strategic marketing analysis 
C)  marketing ROA (return on assets) 
D)  marketing ROI (return on investment) 
E)  marketing response evaluation

Question 5

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 input metric?

Accepted Answer

A)  number of ideas or concepts in the pipeline 
B)  number of new products or services launched 
C)  return on assets (RO
A)  in the pipeline 
D)  customer satisfaction with new products or services 
E)  revenue growth due to new products or services 
A)  number of ideas or concepts in the pipeline 
B)  number of new products or services launched 
C)  return on assets (RO
A)  in the pipeline 
D)  customer satisfaction with new products or services 
E)  revenue growth due to new products or services

Question 6

Which output report would be associated with the planning phase of the strategic marketing process?

Accepted Answer

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

Question 7

company that uses an organizational structure based on its snowboards,skiing equipment,and ice skates would most likely be using a ____________ grouping.

Accepted Answer

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

Question 8

Explain what synergy analysis is and describe the five marketing strategies that result.

Accepted Answer

Synergy analysis seeks opportunities by

Question 9

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)  revenue growth due to new products or services 
D)  return on assets (RO
A)  in the pipeline 
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)  revenue growth due to new products or services 
D)  return on assets (RO
A)  in the pipeline 
E)  number of R&D projects

Question 10

Procter & Gamble,which launched its Tide Pods laundry innovation in 2012,reorganized itself around an innovation strategy that

Accepted Answer

A)  revitalized previously failed products. 
B)  involved consumers earlier in its innovation activities. 
C)  switched its traditional channels of distribution. 
D)  retargeted its products to a completely new market segment. 
E)  gave more decision-making power to middle management. 
A)  revitalized previously failed products. 
B)  involved consumers earlier in its innovation activities. 
C)  switched its traditional channels of distribution. 
D)  retargeted its products to a completely new market segment. 
E)  gave more decision-making power to middle management.

Question 11

Porter's four generic business strategies involve combinations of (1)competitive scope or the breadth of the target markets and (2)__________.

Accepted Answer

A)  organizational structure 
B)  degree of geographical distribution 
C)  investment in research and development 
D)  a stress on costs versus product differentiation 
E)  relative number of products in a product line 
A)  organizational structure 
B)  degree of geographical distribution 
C)  investment in research and development 
D)  a stress on costs versus product differentiation 
E)  relative number of products in a product line

Question 12

Percentage points of market share used in analysis as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm are referred to as

Accepted Answer

A)  market share 
B)  ratings 
C)  marketing ROI 
D)  S-curve points 
E)  share points 
A)  market share 
B)  ratings 
C)  marketing ROI 
D)  S-curve points 
E)  share points

Question 13

Edwin H.Land,former CEO of Polaroid,took personal responsibility for technological innovation at Polaroid.On the other hand,Lewis Platt,CEO of Hewlett-Packard,believed senior management's role was to create an environment that encourages managers to take risks and create new growth opportunities.Which of the following statements describes the actions of these men?

Accepted Answer

A)  Both Land and Platt were program champions. 
B)  Platt was a program champion and Land was not. 
C)  Land was a program champion and Platt was not. 
D)  Neither Platt nor Land was a program champion. 
E)  Land believed in encouraging others to act as program champions and Platt did not. 
A)  Both Land and Platt were program champions. 
B)  Platt was a program champion and Land was not. 
C)  Land was a program champion and Platt was not. 
D)  Neither Platt nor Land was a program champion. 
E)  Land believed in encouraging others to act as program champions and Platt did not.

Question 14

actions taken in a situation (SWOT)analysis or Step 1 of the planning phase include: (1)__________, (2)analyze competitors, (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)  position the product 
E)  identify industry trends 
A)  set market and product goals 
B)  select target markets 
C)  find points of difference 
D)  position the product 
E)  identify industry trends

Question 15

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

Accepted Answer

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

Question 16

Which of the following pieces of information is used in the development of the marketing program,the third step of the planning phase of the strategic marketing process?

Accepted Answer

A)  marketing return on investment 
B)  market-product grids with target segments and product groupings 
C)  trends for industry and competitors 
D)  marketing mix actions 
E)  market potential studies 
A)  marketing return on investment 
B)  market-product grids with target segments and product groupings 
C)  trends for industry and competitors 
D)  marketing mix actions 
E)  market potential studies

Question 17

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

Accepted Answer

A)  cost focus 
B)  diversification 
C)  service leadership 
D)  quality leadership 
E)  competition-focus 
A)  cost focus 
B)  diversification 
C)  service leadership 
D)  quality leadership 
E)  competition-focus

Question 18

launch of a new cereal typically costs up to $30 million and usually involves

Accepted Answer

A)  replacing one of more than 300 competing breakfast cereals already on a supermarket shelf. 
B)  a minimum of three attempts before it is successfully launched. 
C)  a tie-in promotion with a major motion picture. 
D)  steps to counteract the promotional efforts of competitor's new cereal. 
E)  obtaining FDA approval for its convenience claims. 
A)  replacing one of more than 300 competing breakfast cereals already on a supermarket shelf. 
B)  a minimum of three attempts before it is successfully launched. 
C)  a tie-in promotion with a major motion picture. 
D)  steps to counteract the promotional efforts of competitor's new cereal. 
E)  obtaining FDA approval for its convenience claims.

Question 19

What is a sales response function?

Accepted Answer

A sales response function relates the ex

Question 20

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

Accepted Answer

People in line positions,such as group m

Which of the following statements best reflects the guideline for making plans controllable and flexible?

application of modern measurement technologies to understand,quantify,and optimize marketing spending is referred to as __________.

Which output report would be associated with the planning phase of the strategic marketing process?

company that uses an organizational structure based on its snowboards,skiing equipment,and ice skates would most likely be using a ____________ grouping.

Explain what synergy analysis is and describe the five marketing strategies that result.

Procter & Gamble,which launched its Tide Pods laundry innovation in 2012,reorganized itself around an innovation strategy that

Porter's four generic business strategies involve combinations of (1)competitive scope or the breadth of the target markets and (2)__________.

Percentage points of market share used in analysis as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm are referred to as

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

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

Which of the following pieces of information is used in the development of the marketing program,the third step of the planning phase of the strategic marketing process?

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

launch of a new cereal typically costs up to $30 million and usually involves

What is a sales response function?

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

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

Which of the following statements best reflects the guideline for making plans controllable and flexible?

application of modern measurement technologies to understand,quantify,and optimize marketing spending is referred to as __________.

Which output report would be associated with the planning phase of the strategic marketing process?

company that uses an organizational structure based on its snowboards,skiing equipment,and ice skates would most likely be using a ____________ grouping.

Explain what synergy analysis is and describe the five marketing strategies that result.

Procter & Gamble,which launched its Tide Pods laundry innovation in 2012,reorganized itself around an innovation strategy that

Porter's four generic business strategies involve combinations of (1)competitive scope or the breadth of the target markets and (2)__________.

Percentage points of market share used in analysis as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm are referred to as

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

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

Which of the following pieces of information is used in the development of the marketing program,the third step of the planning phase of the strategic marketing process?

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

launch of a new cereal typically costs up to $30 million and usually involves

What is a sales response function?

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

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