Question 1

What is a sales response function?

Accepted Answer

A sales response function relates the ex

Question 2

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) projected future sales,expenses,and profits 
C) market share for the product 
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) projected future sales,expenses,and profits 
C) market share for the product 
D) revenues associated with each point of market share 
E) possible cannibalization effects on other products in the line

Question 3

Consider Figure 22-8 above.The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of a(n)__________.

Accepted Answer

A) Pert chart 
B) marketing program 
C) marketing dashboard 
D) Gantt chart 
E) marketing plan 
A) Pert chart 
B) marketing program 
C) marketing dashboard 
D) Gantt chart 
E) marketing plan

Question 4

Which of the following 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 5

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 MOST LIKELY 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 6

Describe Porter's framework and the four resulting generic business strategies.

Accepted Answer

Michael E.Porter developed a framework i

Question 7

The marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1)__________ and (2)actual results fall short of goals.

Accepted Answer

A) deviations that result from major shifts in customer needs 
B) actual results exceed goals 
C) there are no deviations but there should be 
D) deviations that result from executive mandates 
E) deviations that are blamed on insufficient marketing support (personnel or funding) 
A) deviations that result from major shifts in customer needs 
B) actual results exceed goals 
C) there are no deviations but there should be 
D) deviations that result from executive mandates 
E) deviations that are blamed on insufficient marketing support (personnel or funding)

Question 8

The 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) exploit positive deviations and correct negative 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) exploit positive deviations and correct negative ones

Question 9

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 10

Four basic business and management practices are what matter-"what really works," to use the phrase of the 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 11

Which of the following pieces of 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 12

The information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1)__________; (2)market-product grids with target segments and product groupings;and (3)perceptual maps and positioning statements.

Accepted Answer

A) market potential studies 
B) trends for industry and competitors 
C) marketing mix actions 
D) detailed plans to execute the marketing program 
E) projected future sales,expenses,and profits 
A) market potential studies 
B) trends for industry and competitors 
C) marketing mix actions 
D) detailed plans to execute the marketing program 
E) projected future sales,expenses,and profits

Question 13

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

Accepted Answer

A) marketing return on investment 
B) tracking reports to measure results 
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) tracking reports to measure results 
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 14

List four problems that occur in the planning phase of a firm's strategic marketing process.

Accepted Answer

(1)Plans may be based on very poor assum

Question 15

An 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 16

Four basic business and management practices are what matter-"what really works," to use the phrase of the 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 17

What 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 have 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 have 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 18

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 target segments and product groupings 
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 target segments and product groupings 
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

Question 19

Amy 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.

Question 20

The key to launching a disruptive innovation like Google,Facebook,or the iPhone and iPad from Apple is to __________

Accepted Answer

A) hold the line on spending for R&D because "money doesn't grow on trees." 
B) focus on long-range planning because "if you don't know where you're going,any road will get you there." 
C) develop accurate action item lists and program schedules because "the devil is in the details." 
D) ask precise,focused questions to "discover what's never been." 
E) assess the competitive landscape through a comprehensive environmental scan because "the early bird gets the worm." 
A) hold the line on spending for R&D because "money doesn't grow on trees." 
B) focus on long-range planning because "if you don't know where you're going,any road will get you there." 
C) develop accurate action item lists and program schedules because "the devil is in the details." 
D) ask precise,focused questions to "discover what's never been." 
E) assess the competitive landscape through a comprehensive environmental scan because "the early bird gets the worm."

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

What is a sales response function?

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?

Consider Figure 22-8 above.The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of a(n)__________.

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

Describe Porter's framework and the four resulting generic business strategies.

The marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1)__________ and (2)actual results fall short of goals.

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

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 __________.

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.These are: (1)__________; (2)execution; (3)culture;and (4)structure.

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

The information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1)__________; (2)market-product grids with target segments and product groupings;and (3)perceptual maps and positioning statements.

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

List four problems that occur in the planning phase of a firm's strategic marketing process.

An action item list refers to

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.These are: (1)strategy; (2)execution; (3)__________;and (4)structure.

What is the primary disadvantage of employing a product specialization strategy?

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?

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

The key to launching a disruptive innovation like Google,Facebook,or the iPhone and iPad from Apple is to __________

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in 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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Building an Effective Marketing Plan

Financial Aspects of Marketing

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