Question 1

A matrix organization

Accepted Answer

A) combines a product line structure with a geographical structure. 
B) combines a geographical structure with a market-based structure. 
C) combines a market-based structure with product groupings. 
D) turns a horizontal organizational structure into a vertical one. 
E) groups products according to the distribution system that is used.

Question 2

List the three phases of the strategic marketing process and the output report for each.

Accepted Answer

The answer of List the three phases of the strategic...

Question 3

People who have the authority and responsibility to advise people in line positions but cannot issue direct orders to them hold __________.

Accepted Answer

A) staff positions 
B) line positions 
C) positions on the board of directors 
D) stakeholder positions 
E) program champion positions

Question 4

Describe a time-based agenda,an action item list,and a program schedule.What are their similarities and differences?

Accepted Answer

The answer of Describe a time-based agenda,an action item list,and...

Question 5

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

Accepted Answer

A) full coverage 
B) diversification 
C) market specialization 
D) selective specialization 
E) new product specialization

Question 6

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 7

The essence of resource allocation is: __________.

Accepted Answer

A) Company resources are allocated effectively in the strategic marketing process by converting marketing actions into marketing information 
B) Individual management tools and techniques that a firm chooses to use is less important than flawless execution of the ones it does use 
C) Sometimes you have to break the rules to spend every dollar in a budget 
D) Put incremental resources where the incremental returns are greatest over the foreseeable future 
E) Individual management tools and techniques have no direct relationship to superior business performance in the companies

Question 8

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) a time-based agenda and an action item list 
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 9

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

Accepted Answer

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

Question 10

In the early 1900s,Henry Ford revolutionized the automobile industry by developing production lines and mass-producing the Ford Model T automobile.By heavily reducing production costs,Ford made the Model T affordable for the average American family.What generic business strategy did Ford use to gain a competitive advantage in the automobile market?

Accepted Answer

A) a cost leadership strategy 
B) a differentiation strategy 
C) a cost focus strategy 
D) a differentiation focus strategy 
E) a limited production strategy

Question 11

For General Mills,the annual planning cycle typically starts with a detailed marketing research study of current users and ends after __________ weeks with the approval of the plan by the division general manager.

Accepted Answer

A) 26 
B) 32 
C) 42 
D) 48 
E) 50

Question 12

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 in terms of operational execution?

Accepted Answer

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

Question 13

General Electric's Jack Welch became a legend in making GE more efficient and far better at implementation.One strategy he used to do this was

Accepted Answer

A) creating new mediation teams between planners and implementers. 
B) developing task specific innovation teams. 
C) hiring outside consulting firms. 
D) delayering the organization. 
E) conducting regular debriefing meetings to keep everyone aware of what was going on.

Question 14

What is the primary disadvantage of employing a full coverage strategy?

Accepted Answer

A) Gaining market distribution will be costly. 
B) The organization may be spread too thin because of the resource requirements needed to reach all market-product combinations. 
C) The organization achieves neither marketing nor manufacturing synergies. 
D) R&D-manufacturing have the difficulty of producing multiple new lines. 
E) The organization cannot take advantage of marketing or manufacturing synergies available to it through market or product specialization.

Question 15

An aid to implementing a marketing plan and consisting of four columns: (1)the task; (2)the person responsible for completing the task; (3)the date to finish the task;and (4)what is to be delivered is referred to as a(n)__________.

Accepted Answer

A) output report 
B) Gantt chart 
C) marketing plan 
D) action item list 
E) marketing action memo

Question 16

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

Accepted Answer

A) identify industry trends 
B) select target markets 
C) research customers 
D) develop the program's marketing mix 
E) develop the budget by estimating revenues,expenses,and profits

Question 17

A firm following a cost focus 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"

Question 18

The 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 19

Line positions refer to

Accepted Answer

A) managers who have the authority and responsibility to issue orders to people who report to them. 
B) people who have the authority and responsibility to advise people in staff positions but cannot issue direct orders to them. 
C) the senior executives responsible for a firm's marketing strategies and activities. 
D) members of the board of directors who are responsible for implementing the firm's marketing strategies and tactics. 
E) middle management with the responsibility of assuring that tasks are completed on time but who do not actually have the authority to issue orders.

Question 20

The information needed for the implementation phase of the strategic marketing process includes: (1)time-based agenda and an action item list to conduct a meeting; (2)__________;and (3)marketing research reports.

Accepted Answer

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

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