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

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Question 71

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The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent,delicious,and gooey dessert.So,they wanted all of the following characteristics in the dessert EXCEPT:

A) no cleanup
B) a single portion
C) quick preparation
D) consistent great taste
E) priced below its competition

F) A) and E)
G) A) and D)

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Question 72

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All of the following are basic tenets or axioms voiced by Kelly Johnson of Lockheed Martin's Skunk Works EXCEPT:

A) "Failure just leads you to the next great thing."
B) "When trouble develops,surface the problem immediately."
C) "Avoid paralysis by analysis."
D) "Get help-don't keep the problem to yourself."
E) "Make decisions promptly."

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

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Question 73

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During the planning phase of the strategic marketing process,the marketing manager will

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

Long-range marketing plans cover marketing activities

The reformulation of the original less sweet,more bitter Coca-Cola (now Coca-Cola Classic) into a new sweeter one (eventually called New Coke) was one of the biggest decisions in the firm's history.Coke was responding to Pepsi's gain in market share with its sweeter formulation and its Pepsi Challenge taste tests and commercials.New Coke replaced "old Coke" on supermarket shelves.Loyal Coke customers were incensed that "old Coke" was discontinued.They loved the taste and brand identity of "old Coke" and rebelled against New Coke.TV and print ads designed to persuade Coke and Pepsi drinkers to switch to New Coke were ineffective.After a short period of time,Coca-Cola reintroduced old Coke as Coca-Cola Classic and withdrew New Coke from the market.The launch of New Coke is an example of __________.

According to Porter's four generic business strategies framework,a __________ strategy focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.

The actions taken during the evaluation phase of the strategic marketing process include: (1) __________ and (2) exploit positive deviations and correct negative ones.

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 "B," identify the MOST LIKELY result of the planning and implementation of the marketing plan and its strategies for a product or service.

A differentiation focus strategy refers to one of Porter's generic business strategies that

Which of the following is a typical objective for value-based planning?

New Balance has no celebrity endorsers and does minimal advertising,yet the athletic shoe brand has about 10 percent of the sales in the athletic footwear market.The marketing team at New Balance estimates that to increase sales to 11 percent of the market will require an increase of $25 million in marketing effort and will result in an increase of its footwear sales of an additional $15 million.This 1 percent incremental increase from 10 to 11 percent is referred to as __________.

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 based on its organizational structure?

Today,the implementation phase of the strategic marketing process often involves moving many planning activities away from the duties of planners to those of __________ responsible for implementing the plans.

Consider Figure 22-8 above.All of the following are distribution channels General Mills uses to sell its Warm Delights Minis EXCEPT:

A company that uses an organizational structure based on its snowboards,skiing equipment,and ice skates would most likely be using a __________ grouping.

Organizational groupings that represent the different departments or business activities within a firm are referred to as __________.

A program champion refers to

In Figure 22-4 above,the market-product grid labeled "C" illustrates which of the following market-product strategies?

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as __________.