Question 1

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing the task; (3) the date to finish the task;and (4) __________.

Accepted Answer

A)  the budget
B)  the points of difference
C)  what is to be delivered
D)  the promotional message
E)  the product or serviceF) C) and D)
G) A) and C)

Question 2

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

Accepted Answer

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

Question 3

Organizational groupings based on specific customer segments are referred to as __________.

Accepted Answer

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

Question 4

Key problems that emerge in a firm's strategic marketing process include: (1) bad news is filtered out as information goes up the line to give top management a very rosy picture; (2) plans are based on very poor assumptions about environmental forces; (3) planners and their plans may have lost sight of their customers' needs; (4) __________;and (5) line operating managers often feel no sense of ownership in implementing the plans.

Accepted Answer

A)  there is poor communication between the firm and its stakeholders
B)  too much time and effort may be spent on data collection and writing plans that are too complex to implement
C)  there is a lack of leadership
D)  although management says they are behind the plans,they do not allocate resources to the degree necessary for success
E)  plans can be thwarted by disgruntled employees,other departments,or competitorsF) B) and D)
G) All of the above

Question 5

The actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include: (1) identify industry trends; (2) analyze competitors; (3) assess own company;and (4) __________.

Accepted Answer

A)  set market and product goals
B)  research customers
C)  select target markets
D)  find points of difference
E)  position the productF) A) and D)
G) C) and E)

Question 6

People in __________ positions have the authority and responsibility to issue orders to people who report to them.

Accepted Answer

A)  staff
B)  executive marketing officer
C)  line
D)  stakeholder
E)  cross-functional teamF) D) and E)
G) A) and B)

Question 7

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as __________.

Accepted Answer

A)  second-guessing
B)  paralysis by analysis
C)  better to ask for forgiveness than permission
D)  stay with the pack
E)  letting sleeping dogs lieF) A) and E)
G) All of the above

Question 8

Synergy analysis incorporates two business analysis tools,which are __________ and the market-product grid framework.

Accepted Answer

A)  diversification analysis
B)  Porter's generic business strategy framework
C)  SWOT analysis
D)  Porter's competitive advantage
E)  share point analysisF) C) and D)
G) All of the above

Question 9

In Porter's generic business strategies shown in Figure 22-3 above,"B" refers to a __________ strategy.

Accepted Answer

A)  quality focus
B)  cost leadership
C)  differentiation
D)  cost focus
E)  differentiation focusF) A) and E)
G) C) and D)

Question 10

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.These are: (1) strategy; (2) __________; (3) culture;and (4) structure.

Accepted Answer

A)  charismatic leadership
B)  quality
C)  execution
D)  sustainability
E)  ethicsF) B) and D)
G) A) and B)

Question 11

The biggest strategic business unit (SBU) at General Mills is

Accepted Answer

A)  desserts (Betty Crocker) .
B)  breakfast cereals (Big G) .
C)  yogurt (Yoplait) .
D)  soups (Progresso) .
E)  snacks (various) .F) A) and E)
G) All of the above

Question 12

The increased customer value achieved through performing marketing functions more efficiently is referred to as __________.

Accepted Answer

A)  points of difference
B)  proficiency
C)  kiatsu
D)  synergy
E)  competitive advantageF) A) and B)
G) A) and D)

Question 13

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)  is plotted on the horizontal (X) axis.F) A) and B)
G) C) and D)

Question 14

According to Porter's generic business strategy framework,there are two fundamental alternatives a firm can use to seek a competitive advantage.One of these is to

Accepted Answer

A)  become the high-cost producer within the markets in which it competes.
B)  adopt a "me too" strategy to achieve competitive parity.
C)  become the low-cost producer within the markets in which it competes.
D)  state its function in society to differentiate itself from competitors.
E)  differentiate itself from competitors by developing similar marketing programs.F) C) and D)
G) A) and B)

Question 15

List and explain two types of marketing plans.

Accepted Answer

Long-range marketing plans cover marketi...

Question 16

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 groupingsF) B) and D)
G) B) and E)

Question 17

The relationship of annual marketing effort to annual sales revenue is assumed to be a(n) __________ of the sales response function.

Accepted Answer

A)  horizontal straight line,where sales revenues stay the same regardless of the marketing effort
B)  U-shaped curve,where sales revenues are at a maximum at either end
C)  upside-down U-shaped curve,where sales revenues are at a maximum in the middle
D)  S-shaped curve,which shows that an additional marketing effort in the midrange of the curve results in far greater increases of sales revenue than at either end of the curve
E)  rising straight line,where sales revenue continuously rises as the marketing effort risesF) All of the above
G) A) and C)

Question 18

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 "D," 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.F) A) and E)
G) A) and D)

Question 19

A person who is willing and able to "cut the red tape" to move a program forward is referred to as a

Accepted Answer

A)  channel captain.
B)  marketing mediator.
C)  program director.
D)  program champion.
E)  program facilitator.F) A) and E)
G) D) and E)

Question 20

A recent study showed that firms used two different kinds of metrics when analyzing performance on innovation and new product development.These consist of output and input metrics.Which of the following is an input metric?

Accepted Answer

A)  number of ideas or concepts in the new-product pipeline
B)  number of new products or services launched
C)  return on assets (RO
A)  for existing products or services
D)  customer satisfaction with new products or services
E)  revenue growth due to new products or servicesF) D) and E)
G) A) and E)

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

The biggest strategic business unit (SBU) at General Mills is

Correct Answer
verified

The increased customer value achieved through performing marketing functions more efficiently is referred to as __________.

Correct Answer
verified

According to Porter's generic business strategy framework,there are two fundamental alternatives a firm can use to seek a competitive advantage.One of these is to

Correct Answer
verified

Organizational groupings based on specific customer segments are referred to as __________.

Correct Answer
verified

Synergy analysis incorporates two business analysis tools,which are __________ and the market-product grid framework.

Correct Answer
verified

A recent study showed that firms used two different kinds of metrics when analyzing performance on innovation and new product development.These consist of output and input metrics.Which of the following is an input metric?

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

The actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include: (1) identify industry trends; (2) analyze competitors; (3) assess own company;and (4) __________.

Correct Answer
verified

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing the task; (3) the date to finish the task;and (4) __________.

Correct Answer
verified

A person who is willing and able to "cut the red tape" to move a program forward is referred to as a

Correct Answer
verified

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as __________.

Correct Answer
verified

List and explain two types of marketing plans.

Correct Answer
verified
Long-range marketing plans cover marketi...
View Answer

People in __________ positions have the authority and responsibility to issue orders to people who report to them.

Correct Answer
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In Porter's generic business strategies shown in Figure 22-3 above,"B" refers to a __________ strategy.

Correct Answer
verified

Correct Answer
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Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.These are: (1) strategy; (2) __________; (3) culture;and (4) structure.

Correct Answer
verified

The relationship of annual marketing effort to annual sales revenue is assumed to be a(n) __________ of the sales response function.

Correct Answer
verified

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

The biggest strategic business unit (SBU) at General Mills is

Correct AnswerverifiedShow Answer

The increased customer value achieved through performing marketing functions more efficiently is referred to as __________.

Correct AnswerverifiedShow Answer

According to Porter's generic business strategy framework,there are two fundamental alternatives a firm can use to seek a competitive advantage.One of these is to

Correct AnswerverifiedShow Answer

Organizational groupings based on specific customer segments are referred to as __________.

Correct AnswerverifiedShow Answer

Synergy analysis incorporates two business analysis tools,which are __________ and the market-product grid framework.

Correct AnswerverifiedShow Answer

A recent study showed that firms used two different kinds of metrics when analyzing performance on innovation and new product development.These consist of output and input metrics.Which of the following is an input metric?

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include: (1) identify industry trends; (2) analyze competitors; (3) assess own company;and (4) __________.

Correct AnswerverifiedShow Answer

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing the task; (3) the date to finish the task;and (4) __________.

Correct AnswerverifiedShow Answer

A person who is willing and able to "cut the red tape" to move a program forward is referred to as a

Correct AnswerverifiedShow Answer

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as __________.

Correct AnswerverifiedShow Answer

List and explain two types of marketing plans.

Correct AnswerverifiedLong-range marketing plans cover marketi...View AnswerShow Answer

People in __________ positions have the authority and responsibility to issue orders to people who report to them.

Correct AnswerverifiedShow Answer

In Porter's generic business strategies shown in Figure 22-3 above,"B" refers to a __________ strategy.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.These are: (1) strategy; (2) __________; (3) culture;and (4) structure.

Correct AnswerverifiedShow Answer

The relationship of annual marketing effort to annual sales revenue is assumed to be a(n) __________ of the sales response function.

Correct AnswerverifiedShow Answer

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verified
Long-range marketing plans cover marketi...
View Answer

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