Question 1

Lockheed Martin's Skunk Works is a leader in delivering world-class aircraft.About 50 engineers and designers and 100 expert machinists closely follow this guideline for organizational structure and implementation: Use a small number of good people who

Accepted Answer

A)  implement the idea that "it is better to ask forgiveness than permission." 
B)  know their jobs, as well as the ones around them. 
C)  can talk to anyone in the organization to solve a problem. 
D)  recognize that everyone should have a voice in decision-making. 
E)  never offer excuses, only explanations.

Question 2

information needed for the implementation phase of the strategic marketing process includes: (1)action memos with deadlines and Gantt charts; (2)organizational charts; and (3)__________.

Accepted Answer

A)  marketing research 
B)  positioning studies 
C)  market-product grids with target segments and product groupings 
D)  detailed plans to execute the marketing program 
E)  projected future sales, expenses, and profits

Question 3

commenting about her challenges at General Mills,Vivian Milroy Callaway,says that __________ when looking for new-product opportunities for building a consumer packaged goods business like Big G.

Accepted Answer

A)  "it is better to ask forgiveness than permission" 
B)  "you need to go with the flow" 
C)  "sometimes you have to break the rules" 
D)  "you need to avoid the NIH syndrome" 
E)  " a do it, fix it, try it approach is necessary"

Question 4

Reflecting on the research study of over 200 management tools and techniques,which of the following companies is used as an example of a firm that excels based on a "clearly stated,focused strategy?"

Accepted Answer

A)  Costco 
B)  Sam's Club 
C)  Coca-Cola 
D)  Smucker's 
E)  Toyota

Question 5

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 development 
D)  product reorientation 
E)  new product specialization

Question 6

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)positioning studies.

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

Question 7

Figure 22-10: General Mills Marketing Dashboard Chart "A"
-Consider Figure 22-10: General Mills Marketing Dashboard Chart "A" 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 "A," you conclude the following:

Accepted Answer

A)  Grocery-In terms of monthly unit sales, this is the most important channel and it shows a consistent upward trend. 
B)  Mass-It has a slight upward trend in monthly unit sales, with a temporary uptick in May. 
C)  Warehouse-Monthly sales revenues have remained virtually constant for the year. 
D)  Convenience: Monthly sales revenues are trending down after October. 
E)  Drug:-As the average number of flavors has grown, monthly sales revenues grew significantly from September through December.

Question 8

Figure 22-5
-Figure 22-5 above,the market-product grid labeled "D" 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

Question 9

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

Question 10

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

Accepted Answer

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

Question 11

firm following a cost leadership strategy shown in Figure 22-4 above would be found in __________.

Accepted Answer

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

Question 12

Based on a market-product grid framework,which marketing strategy involves developing a single product for a single market?

Accepted Answer

A)  full coverage 
B)  market-product concentration 
C)  market specialization 
D)  product specialization 
E)  selective specialization

Question 13

Toyota is generally acknowledged as the best in the world in revolutionizing the design and manufacture of autos.Toyota managers created the doctrine of __________,or continuous improvement.

Accepted Answer

A)  keiretsu 
B)  kaizen 
C)  kanban 
D)  meishi 
E)  zaibatsu

Question 14

Figure 22-4
-Porter's generic business strategies shown in Figure 22-4 above,"B" refers to a __________ strategy.

Accepted Answer

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

Question 15

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 
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 16

Figure 22-A
-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 "A," identify the 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.

Question 17

of Porter's generic business strategies involves controlling expenses and lowering product prices targeted at a narrow range of market segments.This is referred to as a __________ strategy.

Accepted Answer

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

Question 18

Figure 22-5
-Figure 22-5 above,the market-product grid labeled "B" 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

Question 19

Organizational groupings in which a unit is responsible for specific product offerings are referred to as __________.

Accepted Answer

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

Question 20

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 real supermarkets

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