Question 1

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.F) A) and C)
G) A) and B)

Question 2

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

Accepted Answer

(1)Planning is the first phase.Its outpu...

Question 3

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 profitsF) A) and B)
G) B) and E)

Question 4

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 strategyF) A) and B)
G) None of the above

Question 5

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.F) A) and E)
G) B) and C)

Question 6

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 memoF) All of the above
G) A) and E)

Question 7

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.F) B) and E)
G) A) and B)

Question 8

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 companiesF) All of the above
G) B) and E)

Question 9

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 profitsF) A) and B)
G) All of the above

Question 10

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"F) A) and D)
G) C) and D)

Question 11

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 profitsF) A) and B)
G) A) and D)

Question 12

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 specializationF) A) and C)
G) None of the above

Question 13

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.F) B) and E)
G) A) and D)

Question 14

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)  ToyotaF) B) and C)
G) A) and E)

Question 15

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)  50F) A) and E)
G) B) and E)

Question 16

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

Question 17

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 specializationF) D) and E)
G) A) and E)

Question 18

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

Accepted Answer

A time-based agenda shows the running ti...

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) A) and B)
G) B) and D)

Question 20

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 positionsF) A) and D)
G) All of the above

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

The essence of resource allocation is: __________.

Correct Answer
verified

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

Correct Answer
verified

Line positions refer to

Correct Answer
verified

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.

Correct Answer
verified

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?

Correct Answer
verified

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.

Correct Answer
verified

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

Correct Answer
verified

A firm following a cost focus strategy shown in Figure 22-3 above would be found in __________.

Correct Answer
verified

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) __________.

Correct Answer
verified

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

Correct Answer
verified
A time-based agenda shows the running ti...
View Answer

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

Correct Answer
verified

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

Correct Answer
verified

A matrix organization

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

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

Correct Answer
verified

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) __________.

Correct Answer
verified

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

Correct Answer
verified
(1)Planning is the first phase.Its outpu...
View Answer

Correct Answer
verified

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.

Correct Answer
verified

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

Correct Answer
verified

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

The essence of resource allocation is: __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Line positions refer to

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A firm following a cost focus strategy shown in Figure 22-3 above would be found in __________.

Correct AnswerverifiedShow Answer

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) __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedA time-based agenda shows the running ti...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A matrix organization

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

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

Correct AnswerverifiedShow Answer

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) __________.

Correct AnswerverifiedShow Answer

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

Correct Answerverified(1)Planning is the first phase.Its outpu...View AnswerShow Answer

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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A time-based agenda shows the running ti...
View Answer

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(1)Planning is the first phase.Its outpu...
View Answer

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