Question 1

Explain what synergy analysis is and describe the five marketing strategies that result.

Accepted Answer

Synergy analysis seeks opportunities by ...

Question 2

Those in staff positions have the authority and responsibility to advise people in line positions

Accepted Answer

A)  and can recommend salary and benefit adjustments for them.
B)  and serve the board of directors.
C)  and must clear all such communication with the human resources department.
D)  but cannot serve on team projects with them.
E)  but cannot issue direct orders to them.F) D) and E)
G) B) and E)

Question 3

Which of the following types of test marketing techniques was primarily used in market research for General Mills Warm Delights?

Accepted Answer

A)  free coupons
B)  product sampling
C)  continuity programs
D)  double back product refunds
E)  test marketing on the shelves of actual supermarketsF) C) and D)
G) B) and D)

Question 4

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

Accepted Answer

A)  find points of difference
B)  identify industry trends
C)  research customers
D)  develop the program's marketing mix
E)  develop the budget by estimating revenues,expenses,and profitsF) A) and B)
G) None of the above

Question 5

List the seven guidelines for developing effective plans and planning.

Accepted Answer

Effective plans and planning: (1)set mea...

Question 6

Recently,the $9.5 billion-a-year U.S.ready-to-eat (RTE) cereal market has had flat or slightly declining sales.All of the following factors have contributed to the decline in the consumption of RTE cereals by Americans EXCEPT:

Accepted Answer

A)  eating breakfast at fast-food restaurants.
B)  encountering higher shelf prices because of rising grain prices.
C)  munching breakfast bars.
D)  following low-carbohydrate diets.
E)  introducing a new category-liquid breakfast drinks from Kellogg's and Carnation.F) All of the above
G) B) and C)

Question 7

Each phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

Accepted Answer

A)  performance reviews for key personnel
B)  corrective action memos,triggered by comparing results with plans,often from the firm's marketing dashboards and metrics
C)  sales reports using the firm's marketing metrics and dashboards
D)  action memos that tell who is to do what by when
E)  marketing plans that define goals with the relevant metrics and the marketing mix strategies to achieve themF) B) and E)
G) B) and C)

Question 8

When using share points to make marketing resource allocation decisions,marketing managers must estimate: (1) the market share for the product; (2) __________; (3) the contribution to overhead and profit (or gross margin) of each share point;and (4) possible cannibalization effects on other products in the line.

Accepted Answer

A)  total production costs
B)  number of market segments
C)  stage of the product in its product life cycle
D)  the total financial resources available for a sustained marketing effort
E)  the revenues associated with each point of market shareF) A) and B)
G) None of the above

Question 9

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

Accepted Answer

A)  action memos to correct problems and exploit opportunities
B)  memos assigning responsibilities for actions and deadlines
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) A) and E)
G) A) and B)

Question 10

One way to improve implementation is to communicate goals and the means of achieving them.At Toyota,its design teams stress __________-"go and see"-a message about both a goal and a means of achieving it.

Accepted Answer

A)  keiretsu
B)  genchi genbutsu
C)  kaizen
D)  zaibatsu
E)  meishiF) A) and D)
G) All of the above

Question 11

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

Accepted Answer

A)  quality focus
B)  cost leadership
C)  differentiation
D)  cost focus
E)  differentiation focusF) All of the above
G) A) and C)

Question 12

Regardless of the product or industry involved,the strategy a firm that adopts to achieve a competitive advantage is referred to as a(n) __________.

Accepted Answer

A)  generic business strategy
B)  annual business plan
C)  long-range marketing plan
D)  marketing action program
E)  synergy analysis frameworkF) A) and C)
G) C) and D)

Question 13

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

Accepted Answer

A)  full coverage
B)  market specialization
C)  product specialization
D)  selective specialization
E)  market-product concentrationF) A) and B)
G) A) and C)

Question 14

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 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) A) and B)
G) A) and C)

Question 15

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.What information is collected to assist each phase?

Accepted Answer

The planning phase of the strategic mark...

Question 16

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) __________;and (4) what is to be delivered.

Accepted Answer

A)  the budget
B)  the points of difference
C)  the promotional message
D)  the date to finish the task
E)  the product or serviceF) A) and D)
G) A) and E)

Question 17

Which of the following pieces of information is used in market-product focus and goal setting,the second step of the planning phase of the strategic marketing process?

Accepted Answer

A)  marketing return on investment
B)  perceptual maps and positioning statements
C)  revenues associated with each point of market share
D)  possible cannibalization effects on other products in the line
E)  trends for industry and competitorsF) A) and D)
G) C) and E)

Question 18

The information needed for the marketing program,Step 3 of the planning phase,includes: (1) __________ and (2) detailed plans to execute the marketing program.

Accepted Answer

A)  positioning studies
B)  marketing mix actions
C)  market-product grids with target segments and product groupings
D)  projected future sales,expenses,and profits
E)  market potential studiesF) A) and B)
G) None of the above

Question 19

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

Question 20

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

Accepted Answer

A)  full coverage
B)  market specialization
C)  product specialization
D)  selective specialization
E)  market-product concentrationF) None of the above
G) A) and B)

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

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.What information is collected to assist each phase?

Correct Answer
verified
The planning phase of the strategic mark...
View Answer

One way to improve implementation is to communicate goals and the means of achieving them.At Toyota,its design teams stress __________-"go and see"-a message about both a goal and a means of achieving it.

Correct Answer
verified

Recently,the $9.5 billion-a-year U.S.ready-to-eat (RTE) cereal market has had flat or slightly declining sales.All of the following factors have contributed to the decline in the consumption of RTE cereals by Americans EXCEPT:

Correct Answer
verified

Which of the following pieces of information is used in market-product focus and goal setting,the second step of the planning phase of the strategic marketing process?

Correct Answer
verified

The information needed for the marketing program,Step 3 of the planning phase,includes: (1) __________ and (2) detailed plans to execute the marketing program.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Each phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

Correct Answer
verified

Regardless of the product or industry involved,the strategy a firm that adopts to achieve a competitive advantage is referred to as a(n) __________.

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 output metric?

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) __________;and (4) what is to be delivered.

Correct Answer
verified

Explain what synergy analysis is and describe the five marketing strategies that result.

Correct Answer
verified
Synergy analysis seeks opportunities by ...
View Answer

List the seven guidelines for developing effective plans and planning.

Correct Answer
verified
Effective plans and planning: (1)set mea...
View 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) select target markets; (3) __________;and (4) position the product.

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

Those in staff positions have the authority and responsibility to advise people in line positions

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Which of the following types of test marketing techniques was primarily used in market research for General Mills Warm Delights?

Correct Answer
verified

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

Correct Answer
verified

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

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.What information is collected to assist each phase?

Correct AnswerverifiedThe planning phase of the strategic mark...View AnswerShow Answer

One way to improve implementation is to communicate goals and the means of achieving them.At Toyota,its design teams stress __________-"go and see"-a message about both a goal and a means of achieving it.

Correct AnswerverifiedShow Answer

Recently,the $9.5 billion-a-year U.S.ready-to-eat (RTE) cereal market has had flat or slightly declining sales.All of the following factors have contributed to the decline in the consumption of RTE cereals by Americans EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following pieces of information is used in market-product focus and goal setting,the second step of the planning phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

The information needed for the marketing program,Step 3 of the planning phase,includes: (1) __________ and (2) detailed plans to execute the marketing program.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Each phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

Correct AnswerverifiedShow Answer

Regardless of the product or industry involved,the strategy a firm that adopts to achieve a competitive advantage is referred to as a(n) __________.

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 output metric?

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) __________;and (4) what is to be delivered.

Correct AnswerverifiedShow Answer

Explain what synergy analysis is and describe the five marketing strategies that result.

Correct AnswerverifiedSynergy analysis seeks opportunities by ...View AnswerShow Answer

List the seven guidelines for developing effective plans and planning.

Correct AnswerverifiedEffective plans and planning: (1)set mea...View AnswerShow 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) select target markets; (3) __________;and (4) position the product.

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

Those in staff positions have the authority and responsibility to advise people in line positions

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following types of test marketing techniques was primarily used in market research for General Mills Warm Delights?

Correct AnswerverifiedShow Answer

Based on a market-product grid framework,which marketing strategy offers all product lines to all market segments?

Correct AnswerverifiedShow Answer

Correct Answer
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The planning phase of the strategic mark...
View Answer

Correct Answer
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Correct Answer
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Synergy analysis seeks opportunities by ...
View Answer

Correct Answer
verified
Effective plans and planning: (1)set mea...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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