Question 1

Organizational groupings that represent the different departments or business activities within a firm are referred to as __________.

Accepted Answer

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

Question 2

According to Porter's four generic business strategies framework,a __________ strategy focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.

Accepted Answer

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

Question 3

The actions taken during the evaluation phase of the strategic marketing process include: (1)__________ and (2)exploit positive deviations and correct negative ones.

Accepted Answer

A) find points of difference 
B) execute the marketing program 
C) compare results with plans to identify deviations 
D) track sales and revenues and compare with competitors 
E) develop the budget by estimating revenues,expenses,and profits 
A) find points of difference 
B) execute the marketing program 
C) compare results with plans to identify deviations 
D) track sales and revenues and compare with competitors 
E) develop the budget by estimating revenues,expenses,and profits

Question 4

The reformulation of the original less sweet,more bitter Coca-Cola (now Coca-Cola Classic)into a new sweeter one (eventually called New Coke)was one of the biggest decisions in the firm's history.Coke was responding to Pepsi's gain in market share with its sweeter formulation and its Pepsi Challenge taste tests and commercials.New Coke replaced "old Coke" on supermarket shelves.Loyal Coke customers were incensed that "old Coke" was discontinued.They loved the taste and brand identity of "old Coke" and rebelled against New Coke.TV and print ads designed to persuade Coke and Pepsi drinkers to switch to New Coke were ineffective.After a short period of time,Coca-Cola reintroduced old Coke as Coca-Cola Classic and withdrew New Coke from the market.The launch of New Coke is an example of __________.

Accepted Answer

A) good planning and good implementation 
B) good planning and poor implementation 
C) poor planning and good implementation 
D) poor planning and poor implementation 
E) poor evaluation 
A) good planning and good implementation 
B) good planning and poor implementation 
C) poor planning and good implementation 
D) poor planning and poor implementation 
E) poor evaluation

Question 5

A program champion refers to

Accepted Answer

A) a person who is willing and able to "cut the red tape" to move a program forward. 
B) the person within an organization who is assigned the responsibility of taking a program from conception to deletion. 
C) a person in an organization who is the "product figurehead" for a new-product development cross-functional team. 
D) a sports figure or celebrity,who serves as a company spokesperson for a new product. 
E) a single product within the product line that carries the other products in the line "on its back." 
A) a person who is willing and able to "cut the red tape" to move a program forward. 
B) the person within an organization who is assigned the responsibility of taking a program from conception to deletion. 
C) a person in an organization who is the "product figurehead" for a new-product development cross-functional team. 
D) a sports figure or celebrity,who serves as a company spokesperson for a new product. 
E) a single product within the product line that carries the other products in the line "on its back."

Question 6

During the planning phase of the strategic marketing process,the marketing manager will

Accepted Answer

A) design the marketing organization. 
B) obtain resources. 
C) develop marketing schedules. 
D) construct managerial bonus plans. 
E) set market and product goals. 
A) design the marketing organization. 
B) obtain resources. 
C) develop marketing schedules. 
D) construct managerial bonus plans. 
E) set market and product goals.

Question 7

Reflecting on the research study of over 200 management tools and techniques,which of the following companies is an example of a firm that excels based on its organizational structure?

Accepted Answer

A) Costco 
B) Smucker's 
C) Lockheed's Skunk Works 
D) Coca-Cola 
E) Kodak 
A) Costco 
B) Smucker's 
C) Lockheed's Skunk Works 
D) Coca-Cola 
E) Kodak

Question 8

In Figure 22-4 above,the market-product grid labeled "C" 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

Question 9

Which of the following is a typical objective for value-based planning?

Accepted Answer

A) integrate sustainable development 
B) demonstrate corporate integrity 
C) contribute to the price of a company's stock 
D) reduce employee turnover 
E) identify new channels of distribution 
A) integrate sustainable development 
B) demonstrate corporate integrity 
C) contribute to the price of a company's stock 
D) reduce employee turnover 
E) identify new channels of distribution

Question 10

New Balance has no celebrity endorsers and does minimal advertising,yet the athletic shoe brand has about 10 percent of the sales in the athletic footwear market.The marketing team at New Balance estimates that to increase sales to 11 percent of the market will require an increase of $25 million in marketing effort and will result in an increase of its footwear sales of an additional $15 million.This 1 percent incremental increase from 10 to 11 percent is referred to as __________.

Accepted Answer

A) a rating 
B) marginal market share 
C) a sales response margin 
D) a share point 
E) a direct response rate 
A) a rating 
B) marginal market share 
C) a sales response margin 
D) a share point 
E) a direct response rate

Question 11

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as __________.

Accepted Answer

A) differentiation analysis 
B) synergy analysis 
C) SWOT analysis 
D) sales response analysis 
E) competitive grid analysis 
A) differentiation analysis 
B) synergy analysis 
C) SWOT analysis 
D) sales response analysis 
E) competitive grid analysis

Question 12

Long-range marketing plans cover marketing activities

Accepted Answer

A) from one quarter to the next. 
B) from 6 months to one year. 
C) for a single year. 
D) two to five years into the future. 
E) five to ten years into the future. 
A) from one quarter to the next. 
B) from 6 months to one year. 
C) for a single year. 
D) two to five years into the future. 
E) five to ten years into the future.

Question 13

Today,the implementation phase of the strategic marketing process often involves moving many planning activities away from the duties of planners to those of __________ responsible for implementing the plans.

Accepted Answer

A) line managers 
B) outside consultants 
C) senior management 
D) the chief marketing officer (CMO) 
E) project teams 
A) line managers 
B) outside consultants 
C) senior management 
D) the chief marketing officer (CMO) 
E) project teams

Question 14

Consider Figure 22-A above.Effective managers track the progress of their marketing plans to identify problems that need to be corrected.Sometimes,the problems are with the marketing plan and its strategies;at other times,they may be due to their implementation;and at still other times,they may be due to both.Recall that research on what really works shows that successful firms have excellence on both the planning and strategy side and the implementation or execution side.As Figure 22-A shows,marketers can develop and implement strategies that have four possible results.For "B," identify the MOST LIKELY result of the planning and implementation of the marketing plan and its strategies for a product or service.

Accepted Answer

A) Trouble: The solution is to recognize that only implementation is at fault and to correct it. 
B) Success: The marketing program achieves its objectives. 
C) Failure: The marketing program flounders and fails to achieve its objectives. 
D) Trouble: The solution is to recognize that only the strategy is at fault and to correct it. 
E) Cannot be determined with the information provided. 
A) Trouble: The solution is to recognize that only implementation is at fault and to correct it. 
B) Success: The marketing program achieves its objectives. 
C) Failure: The marketing program flounders and fails to achieve its objectives. 
D) Trouble: The solution is to recognize that only the strategy is at fault and to correct it. 
E) Cannot be determined with the information provided.

Question 15

A differentiation focus 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 16

A 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 17

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

Accepted Answer

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

Question 18

Consider Figure 22-8 above.All of the following are distribution channels General Mills uses to sell its Warm Delights Minis EXCEPT:

Accepted Answer

A) drugstores. 
B) mass merchandisers. 
C) vending machines. 
D) warehouse/club stores. 
E) convenience stores. 
A) drugstores. 
B) mass merchandisers. 
C) vending machines. 
D) warehouse/club stores. 
E) convenience stores.

Question 19

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent,delicious,and gooey dessert.So,they wanted all of the following characteristics in the dessert EXCEPT:

Accepted Answer

A) no cleanup 
B) a single portion 
C) quick preparation 
D) consistent great taste 
E) priced below its competition 
A) no cleanup 
B) a single portion 
C) quick preparation 
D) consistent great taste 
E) priced below its competition

Question 20

All of the following are basic tenets or axioms voiced by Kelly Johnson of Lockheed Martin's Skunk Works EXCEPT:

Accepted Answer

A) "Failure just leads you to the next great thing." 
B) "When trouble develops,surface the problem immediately." 
C) "Avoid paralysis by analysis." 
D) "Get help-don't keep the problem to yourself." 
E) "Make decisions promptly." 
A) "Failure just leads you to the next great thing." 
B) "When trouble develops,surface the problem immediately." 
C) "Avoid paralysis by analysis." 
D) "Get help-don't keep the problem to yourself." 
E) "Make decisions promptly."

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

Organizational groupings that represent the different departments or business activities within a firm are referred to as __________.

According to Porter's four generic business strategies framework,a __________ strategy focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.

The actions taken during the evaluation phase of the strategic marketing process include: (1)__________ and (2)exploit positive deviations and correct negative ones.

A program champion refers to

During the planning phase of the strategic marketing process,the marketing manager will

Reflecting on the research study of over 200 management tools and techniques,which of the following companies is an example of a firm that excels based on its organizational structure?

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

Which of the following is a typical objective for value-based planning?

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as __________.

Long-range marketing plans cover marketing activities

Today,the implementation phase of the strategic marketing process often involves moving many planning activities away from the duties of planners to those of __________ responsible for implementing the plans.

A differentiation focus strategy refers to one of Porter's generic business strategies that

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

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

Consider Figure 22-8 above.All of the following are distribution channels General Mills uses to sell its Warm Delights Minis EXCEPT:

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent,delicious,and gooey dessert.So,they wanted all of the following characteristics in the dessert EXCEPT:

All of the following are basic tenets or axioms voiced by Kelly Johnson of Lockheed Martin's Skunk Works EXCEPT:

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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