Question 1

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.F) C) and E)
G) C) and D)

Question 2

________ create a new market by initially reaching new customers through displacing an existing market's low-end product.

Accepted Answer

A)  Distinctive competencies
B)  Discontinuous innovations
C)  Disruptive innovations
D)  Synergy analysis frameworks
E)  Continuous innovationsF) A) and C)
G) C) and E)

Question 3

Key problems that emerge in a firm's strategic marketing process include that

Accepted Answer

A)  there is poor communication between the firm and its stakeholders.
B)  there is a lack of leadership.
C)  although management says they are behind the plans,they do not allocate resources to the degree necessary for success.
D)  planners and their plans may have lost sight of their customers' needs.
E)  plans can be thwarted by disgruntled employees,other departments,or competitors.F) A) and B)
G) B) and E)

Question 4

Which of the following information is used in the development of the marketing program,the third step of the planning phase of the strategic marketing process?

Accepted Answer

A)  marketing return on investment
B)  market-product grids with target segments and product groupings
C)  trends for industry and competitors
D)  marketing mix actions
E)  market potential studiesF) B) and E)
G) C) and D)

Question 5

Amy Smith has just completed measuring the results of her firm's product performance.Her next step will be to

Accepted Answer

A)  do a profitability analysis.
B)  take necessary corrective actions.
C)  bring these to the marketing auditor.
D)  proceed regardless of deviations from original plans.
E)  compare the results against the goals specified in the marketing plan.F) None of the above
G) B) and D)

Question 6

Two commonly used methods to improve marketing ROI (return on investment) are

Accepted Answer

A)  sales analysis and cost analysis.
B)  marketing research and marketing audits.
C)  social audits and marketing audits.
D)  marketing metrics and marketing dashboards.
E)  internal audits and external audits.F) D) and E)
G) A) and C)

Question 7

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into 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 projectsF) C) and E)
G) C) and D)

Question 8

Figure 22-8 
 
-Consider Figure 22-8 above.  As part of the Warm Delights team at General Mills,you are asked to analyze and interpret this marketing dashboard for Warm Delights Minis.  After a careful analysis of all four charts in the dashboard,what explains the increased monthly unit sales and sales revenue of Warm Delights Minis in the drugstore channel in late 2013?

Accepted Answer

A)  both the increased percentage of drugstores carrying the brand and the increased average number of flavors carried by drugstores
B)  only the increased number of flavors carried by drugstores
C)  only the shift in monthly unit sales from November to December from the grocery channel to the drug channel
D)  only the shift in monthly total sales revenues from November to December from the grocery channel to the drug channel
E)  only the increased percentage of drugstores carrying the brandF) B) and C)
G) C) and E)

Question 9

What is a sales response function?

Accepted Answer

A sales response function relates the ex...

Question 10

As the annual marketing effort increases in a sales response function graph,so does the resulting annual sales revenue,which is

Accepted Answer

A)  plotted on the vertical (Y) axis.
B)  plotted on the horizontal (S) axis.
C)  plotted on the vertical (Z) axis.
D)  the center point.
E)  plotted on the horizontal (X) axis.F) B) and C)
G) B) and D)

Question 11

Action item lists are most similar to

Accepted Answer

A)  product-market grids.
B)  job analyses.
C)  sales response functions.
D)  value analyses.
E)  program schedules.F) A) and C)
G) B) and E)

Question 12

Describe Porter's framework and the four resulting generic business strategies.

Accepted Answer

Michael E.Porter developed a framework i...

Question 13

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 specializationF) B) and D)
G) None of the above

Question 14

Which of the following statements best reflects the guideline of using a base of facts and valid assumptions for marketing plans?

Accepted Answer

A)  The firm insists on having good marketing research.
B)  To motivate people,the firm sets achievable goals.
C)  The firm ensures that people at all levels in the firm understand what,when,and how they are to accomplish their tasks.
D)  The firm's marketing plan has all the key marketing mix factors and are supported by resources.
E)  The firm's marketing plan enables results to be compared with planned targets,using precise marketing metrics.F) A) and B)
G) All of the above

Question 15

A company that uses an organizational structure based on ________ uses functional groupings.

Accepted Answer

A)  specific product types or product offerings
B)  a particular method of distribution
C)  a specific type of customer
D)  areas of geographic location
E)  different departments or business activities within the firmF) All of the above
G) B) and C)

Question 16

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 17

List four problems that occur in the planning phase of a firm's strategic marketing process.

Accepted Answer

(1)Plans may be based on very poor assum...

Question 18

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.F) C) and D)
G) None of the above

Question 19

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)  zaibatsuF) D) and E)
G) B) and C)

Question 20

Marketing ROI (return on investment) uses modern measurement technologies to determine the results of

Accepted Answer

A)  marketing spending.
B)  manufacturing and distribution procedures.
C)  market-product sales.
D)  organizational structure.
E)  personal selling.F) C) and D)
G) None of the above

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

________ create a new market by initially reaching new customers through displacing an existing market's low-end product.

Correct Answer
verified

Which of the following information is used in the development of the marketing program,the third step of the planning phase of the strategic marketing process?

Correct Answer
verified

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.

Correct Answer
verified

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

Correct Answer
verified

Two commonly used methods to improve marketing ROI (return on investment) are

Correct Answer
verified

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

Correct Answer
verified

Describe Porter's framework and the four resulting generic business strategies.

Correct Answer
verified
Michael E.Porter developed a framework i...
View Answer

A company that uses an organizational structure based on ________ uses functional groupings.

Correct Answer
verified

As the annual marketing effort increases in a sales response function graph,so does the resulting annual sales revenue,which is

Correct Answer
verified

Which of the following statements best reflects the guideline of using a base of facts and valid assumptions for marketing plans?

Correct Answer
verified

Action item lists are most similar to

Correct Answer
verified

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

Correct Answer
verified

Amy Smith has just completed measuring the results of her firm's product performance.Her next step will be to

Correct Answer
verified

What is a sales response function?

Correct Answer
verified
A sales response function relates the ex...
View Answer

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

Correct Answer
verified
Goals are specified in the planning phas...
View Answer

Key problems that emerge in a firm's strategic marketing process include that

Correct Answer
verified

Correct Answer
verified

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development.These consist of output and input metrics.Which of the following is an output metric?

Correct Answer
verified

Marketing ROI (return on investment) uses modern measurement technologies to determine the results of

Correct Answer
verified

List four problems that occur in the planning phase of a firm's strategic marketing process.

Correct Answer
verified
(1)Plans may be based on very poor assum...
View Answer

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

________ create a new market by initially reaching new customers through displacing an existing market's low-end product.

Correct AnswerverifiedShow Answer

Which of the following information is used in the development of the marketing program,the third step of the planning phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Two commonly used methods to improve marketing ROI (return on investment) are

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Describe Porter's framework and the four resulting generic business strategies.

Correct AnswerverifiedMichael E.Porter developed a framework i...View AnswerShow Answer

A company that uses an organizational structure based on ________ uses functional groupings.

Correct AnswerverifiedShow Answer

As the annual marketing effort increases in a sales response function graph,so does the resulting annual sales revenue,which is

Correct AnswerverifiedShow Answer

Which of the following statements best reflects the guideline of using a base of facts and valid assumptions for marketing plans?

Correct AnswerverifiedShow Answer

Action item lists are most similar to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Amy Smith has just completed measuring the results of her firm's product performance.Her next step will be to

Correct AnswerverifiedShow Answer

What is a sales response function?

Correct AnswerverifiedA sales response function relates the ex...View AnswerShow Answer

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

Correct AnswerverifiedGoals are specified in the planning phas...View AnswerShow Answer

Key problems that emerge in a firm's strategic marketing process include that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development.These consist of output and input metrics.Which of the following is an output metric?

Correct AnswerverifiedShow Answer

Marketing ROI (return on investment) uses modern measurement technologies to determine the results of

Correct AnswerverifiedShow Answer

List four problems that occur in the planning phase of a firm's strategic marketing process.

Correct Answerverified(1)Plans may be based on very poor assum...View AnswerShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Michael E.Porter developed a framework i...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A sales response function relates the ex...
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Correct Answer
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Goals are specified in the planning phas...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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(1)Plans may be based on very poor assum...
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