Question 1

The 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 or toy. 
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 or toy. 
D) steps to counteract the promotional efforts of competitor's new cereal. 
E) obtaining FDA approval for its convenience claims.

Question 2

According to the textbook,the key to mobile game start-up Supercell's success was to

Accepted Answer

A) create a work environment that stressed open communications. 
B) have a program champion for each game product. 
C) delayer the organization by making it flatter. 
D) not punish failures but to learn from them. 
E) use time-based agendas in meetings. 
A) create a work environment that stressed open communications. 
B) have a program champion for each game product. 
C) delayer the organization by making it flatter. 
D) not punish failures but to learn from them. 
E) use time-based agendas in meetings.

Question 3

Based on a market-product grid framework,which marketing strategy focuses on a single market segment but adds additional product lines?

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 4

What are the advantages and disadvantages of the product manager system?

Accepted Answer

There are both benefits and dangers to t

Question 5

A firm following a cost leadership strategy shown in Figure 22-3 above would be found in __________.

Accepted Answer

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

Question 6

Ideally,in effective marketing planning,goals should be __________ in terms of what is to be accomplished and by when.

Accepted Answer

A) consistent and straightforward 
B) general and somewhat flexible 
C) easily adaptive to changes in the environment 
D) very specific and unwavering 
E) quantified and measurable 
A) consistent and straightforward 
B) general and somewhat flexible 
C) easily adaptive to changes in the environment 
D) very specific and unwavering 
E) quantified and measurable

Question 7

The actions taken in the development of the marketing program,Step 3 of the planning phase,include: (1)develop the program's marketing mix actions and (2)__________.

Accepted Answer

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

Question 8

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

Accepted Answer

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

Question 9

Office Max provides low product prices for products strictly classified as office supplies.In terms of Porter's generic business strategy,Office Max is MOST LIKELY using a __________ strategy.

Accepted Answer

A) differentiation focus 
B) cost focus 
C) differentiation 
D) revenue leadership 
E) profit enhancement 
A) differentiation focus 
B) cost focus 
C) differentiation 
D) revenue leadership 
E) profit enhancement

Question 10

Organizational groupings in which sales territories are subdivided according to location are referred to as __________.

Accepted Answer

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

Question 11

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

Accepted Answer

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

Question 12

How is management by exception used in the evaluation phase of the strategic marketing process?

Accepted Answer

Goals are specified in the planning phas

Question 13

The actions taken during the implementation phase of the strategic marketing process include: (1)__________; (2)design the marketing organization; (3)develop schedules;and (4)execute the marketing program.

Accepted Answer

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

Question 14

Disruptive innovations cause havoc for an organization's __________.

Accepted Answer

A) short-term marketing plans 
B) marketing research plans 
C) SWOT analysis 
D) long-range marketing plans 
E) environmental scanning 
A) short-term marketing plans 
B) marketing research plans 
C) SWOT analysis 
D) long-range marketing plans 
E) environmental scanning

Question 15

Volkswagen achieved spectacular success in the late 1990s by targeting the "nostalgia" segment,35- to 54-year-old baby boomers,with its technology-laden New Beetle.Which of Porter's generic business strategies did Volkswagen MOST LIKELY use to launch the New Beetle?

Accepted Answer

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

Question 16

Porter's four generic business strategies involve combinations of (1)__________ and (2)a stress on costs versus product differentiation.

Accepted Answer

A) organizational structure 
B) degree of geographical distribution 
C) investment in research and development 
D) relative number of products in a product line 
E) competitive scope or the breadth of the target markets 
A) organizational structure 
B) degree of geographical distribution 
C) investment in research and development 
D) relative number of products in a product line 
E) competitive scope or the breadth of the target markets

Question 17

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

Accepted Answer

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

Question 18

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 19

The 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 20

One of Porter's generic business strategies that focuses on reducing expenses and,in turn,lowers product prices while targeting a broad array of market segments,is referred to as a __________.

Accepted Answer

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

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

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

According to the textbook,the key to mobile game start-up Supercell's success was to

Based on a market-product grid framework,which marketing strategy focuses on a single market segment but adds additional product lines?

What are the advantages and disadvantages of the product manager system?

A firm following a cost leadership strategy shown in Figure 22-3 above would be found in __________.

Ideally,in effective marketing planning,goals should be __________ in terms of what is to be accomplished and by when.

The actions taken in the development of the marketing program,Step 3 of the planning phase,include: (1)develop the program's marketing mix actions and (2)__________.

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

Office Max provides low product prices for products strictly classified as office supplies.In terms of Porter's generic business strategy,Office Max is MOST LIKELY using a __________ strategy.

Organizational groupings in which sales territories are subdivided according to location are referred to as __________.

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

How is management by exception used in the evaluation phase of the strategic marketing process?

The actions taken during the implementation phase of the strategic marketing process include: (1)__________; (2)design the marketing organization; (3)develop schedules;and (4)execute the marketing program.

Disruptive innovations cause havoc for an organization's __________.

Volkswagen achieved spectacular success in the late 1990s by targeting the "nostalgia" segment,35- to 54-year-old baby boomers,with its technology-laden New Beetle.Which of Porter's generic business strategies did Volkswagen MOST LIKELY use to launch the New Beetle?

Porter's four generic business strategies involve combinations of (1)__________ and (2)a stress on costs versus product differentiation.

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

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

The 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.

One of Porter's generic business strategies that focuses on reducing expenses and,in turn,lowers product prices while targeting a broad array of market segments,is referred to as a __________.

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

Filters