Question 1

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

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 2

Porter's generic business strategies shown in Figure 22-3 above,"D" refers to a __________ strategy.

Accepted Answer

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

Question 3

Those in staff positions have the authority and responsibility to advise people in line positions

Accepted Answer

A) and can recommend salary and benefit adjustments for them. 
B) and serve the board of directors. 
C) and must clear all such communication with the human resources department. 
D) but cannot serve on team projects with them. 
E) but cannot issue direct orders to them. 
A) and can recommend salary and benefit adjustments for them. 
B) and serve the board of directors. 
C) and must clear all such communication with the human resources department. 
D) but cannot serve on team projects with them. 
E) but cannot issue direct orders to them.

Question 4

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) marketing return on investment 
B) perceptual maps and positioning statements 
C) revenues associated with each point of market share 
D) possible cannibalization effects on other products in the line 
E) trends for industry and competitors 
A) marketing return on investment 
B) perceptual maps and positioning statements 
C) revenues associated with each point of market share 
D) possible cannibalization effects on other products in the line 
E) trends for industry and competitors

Question 5

Recently,the $9.5 billion-a-year U.S.ready-to-eat (RTE)cereal market has had flat or slightly declining sales.All of the following factors have contributed to the decline in the consumption of RTE cereals by Americans EXCEPT:

Accepted Answer

A) eating breakfast at fast-food restaurants. 
B) encountering higher shelf prices because of rising grain prices. 
C) munching breakfast bars. 
D) following low-carbohydrate diets. 
E) introducing a new category-liquid breakfast drinks from Kellogg's and Carnation. 
A) eating breakfast at fast-food restaurants. 
B) encountering higher shelf prices because of rising grain prices. 
C) munching breakfast bars. 
D) following low-carbohydrate diets. 
E) introducing a new category-liquid breakfast drinks from Kellogg's and Carnation.

Question 6

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

Accepted Answer

A) action memos to correct problems and exploit opportunities 
B) memos assigning responsibilities for actions and deadlines 
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) action memos to correct problems and exploit opportunities 
B) memos assigning responsibilities for actions and deadlines 
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 7

When using share points to make marketing resource allocation decisions,marketing managers must estimate: (1)the market share for the product; (2)__________; (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) total production costs 
B) number of market segments 
C) stage of the product in its product life cycle 
D) the total financial resources available for a sustained marketing effort 
E) the revenues associated with each point of market share 
A) total production costs 
B) number of market segments 
C) stage of the product in its product life cycle 
D) the total financial resources available for a sustained marketing effort 
E) the revenues associated with each point of market share

Question 8

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1)the task; (2)the person responsible for completing the task; (3)__________;and (4)what is to be delivered.

Accepted Answer

A) the budget 
B) the points of difference 
C) the promotional message 
D) the date to finish the task 
E) the product or service 
A) the budget 
B) the points of difference 
C) the promotional message 
D) the date to finish the task 
E) the product or service

Question 9

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.What information is collected to assist each phase?

Accepted Answer

The planning phase of the strategic mark

Question 10

Each 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 11

Regardless of the product or industry involved,the strategy a firm that adopts to achieve a competitive advantage is referred to as a(n)__________.

Accepted Answer

A) generic business strategy 
B) annual business plan 
C) long-range marketing plan 
D) marketing action program 
E) synergy analysis framework 
A) generic business strategy 
B) annual business plan 
C) long-range marketing plan 
D) marketing action program 
E) synergy analysis framework

Question 12

The actions taken during market product focus and goal setting,Step 2 of the planning phase,include: (1)set market and product goals; (2)select target markets; (3)__________;and (4)position the product.

Accepted Answer

A) find points of difference 
B) identify industry trends 
C) research customers 
D) develop the program's marketing mix 
E) develop the budget by estimating revenues,expenses,and profits 
A) find points of difference 
B) identify industry trends 
C) research customers 
D) develop the program's marketing mix 
E) develop the budget by estimating revenues,expenses,and profits

Question 13

List the seven guidelines for developing effective plans and planning.

Accepted Answer

Effective plans and planning: (1)set mea

Question 14

The information needed for the marketing program,Step 3 of the planning phase,includes: (1)__________ and (2)detailed plans to execute the marketing program.

Accepted Answer

A) positioning studies 
B) marketing mix actions 
C) market-product grids with target segments and product groupings 
D) projected future sales,expenses,and profits 
E) market potential studies 
A) positioning studies 
B) marketing mix actions 
C) market-product grids with target segments and product groupings 
D) projected future sales,expenses,and profits 
E) market potential studies

Question 15

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

Accepted Answer

Synergy analysis seeks opportunities by

Question 16

One way to improve implementation is to communicate goals and the means of achieving them.At Toyota,its design teams stress __________-"go and see"-a message about both a goal and a means of achieving it.

Accepted Answer

A) keiretsu 
B) genchi genbutsu 
C) kaizen 
D) zaibatsu 
E) meishi 
A) keiretsu 
B) genchi genbutsu 
C) kaizen 
D) zaibatsu 
E) meishi

Question 17

Which of the following types of test marketing techniques was primarily used in market research for General Mills Warm Delights?

Accepted Answer

A) free coupons 
B) product sampling 
C) continuity programs 
D) double back product refunds 
E) test marketing on the shelves of actual supermarkets 
A) free coupons 
B) product sampling 
C) continuity programs 
D) double back product refunds 
E) test marketing on the shelves of actual supermarkets

Question 18

A recent study showed that firms used two different kinds of metrics when analyzing performance on innovation and new product development.These consist of output 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) for existing products or services 
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) for existing products or services 
D) customer satisfaction with new products or services 
E) number of R&D projects

Question 19

Identifying the results that deviate from plans to diagnose their causes and take new actions is referred to as

Accepted Answer

A) management by exception. 
B) qualitative analysis. 
C) SWOT analysis. 
D) market-product grid framework assessment. 
E) synergy analysis. 
A) management by exception. 
B) qualitative analysis. 
C) SWOT analysis. 
D) market-product grid framework assessment. 
E) synergy analysis.

Question 20

In Figure 22-4 above,the market-product grid labeled "E" illustrates which of the following market-product strategies?

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

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

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

Porter's generic business strategies shown in Figure 22-3 above,"D" refers to a __________ strategy.

Those in staff positions have the authority and responsibility to advise people in line positions

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?

Recently,the $9.5 billion-a-year U.S.ready-to-eat (RTE)cereal market has had flat or slightly declining sales.All of the following factors have contributed to the decline in the consumption of RTE cereals by Americans EXCEPT:

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

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1)the task; (2)the person responsible for completing the task; (3)__________;and (4)what is to be delivered.

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.What information is collected to assist each phase?

Each 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?

Regardless of the product or industry involved,the strategy a firm that adopts to achieve a competitive advantage is referred to as a(n)__________.

The actions taken during market product focus and goal setting,Step 2 of the planning phase,include: (1)set market and product goals; (2)select target markets; (3)__________;and (4)position the product.

List the seven guidelines for developing effective plans and planning.

The information needed for the marketing program,Step 3 of the planning phase,includes: (1)__________ and (2)detailed plans to execute the marketing program.

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

One way to improve implementation is to communicate goals and the means of achieving them.At Toyota,its design teams stress __________-"go and see"-a message about both a goal and a means of achieving it.

Which of the following types of test marketing techniques was primarily used in market research for General Mills Warm Delights?

A recent study showed that firms used two different kinds of metrics when analyzing performance on innovation and new product development.These consist of output and input metrics.Which of the following is an output metric?

Identifying the results that deviate from plans to diagnose their causes and take new actions is referred to as

In Figure 22-4 above,the market-product grid labeled "E" illustrates which of the following market-product strategies?

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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