Question 1

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 a performance-oriented culture?

Accepted Answer

A)  Costco
B)  Google
C)  Coca-Cola
D)  Kodak
E)  ToyotaF) B) and E)
G) C) and E)

Question 2

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)  __________; (4)  too much time and effort may be spent on data collection and writing plans that are too complex to implement; 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)  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 competitorsF) A) and B)
G) A) and E)

Question 3

List the three steps of the planning phase of the strategic marketing process. Briefly describe actions that make up each of the three steps. What information is collected in each step?

Accepted Answer

The planning phase of the strategic mark...

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)  detailed plans to execute the marketing program
D)  market potential studies
E)  trends for industry and competitorsF) B) and E)
G) A) and D)

Question 5

Share point refers to

Accepted Answer

A)  the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
B)  the percentage points of market share used as the common basis of comparison in an analysis to allocate marketing resources effectively for different product lines within the same firm.
C)  the sales revenue generated by different products within the firm expressed as a percentage.
D)  a measure of the quantitative value or trend of a marketing activity or result divided by the total marketing effort of the firm.
E)  the total number of a product sold in one year compared to the cumulative total sold since its introduction, expressed as a percentage.F) B) and D)
G) A) and B)

Question 6

Within DuPont's textile fiber department, there is a separate product manager for rayon, acetate, Orlon, nylon, and Dacron. The product manager for DuPont nylon would be responsible for

Accepted Answer

A)  making long-range plans for nylon.
B)  maintaining the divisional mission statement.
C)  modifying DuPont's organizational structure.
D)  creating static marketing objectives.
E)  implementing short-term actions for all fibers.F) B) and E)
G) A) and E)

Question 7

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.

Accepted Answer

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

Question 8

Delphi Automobile Systems manufactures and sells satellite communications systems for automobiles that connect you and your car to 24-hour-a-day emergency service, direct you to a destination, and enable you to order a movie while on the road. Delphi Automobile Systems most likely uses

Accepted Answer

A)  a cost leadership strategy.
B)  a cost focus strategy.
C)  a differentiation focus strategy.
D)  an innovation strategy.
E)  a differentiation strategy.F) B) and C)
G) A) and E)

Question 9

A company that uses an organizational structure by marketing department, finance department, human resource department, etc., is most likely using __________ groupings.

Accepted Answer

A)  functional
B)  reseller
C)  task-based
D)  product line
E)  market-basedF) B) and E)
G) A) and B)

Question 10

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

Accepted Answer

A)  the task
B)  the budget
C)  the product or service
D)  the points of difference
E)  the promotional messageF) C) and E)
G) A) and E)

Question 11

Office Max provides low product prices for products strictly classified as office supplies. In terms of Porter's generic business strategy, Office Max is most likely using a __________ strategy.

Accepted Answer

A)  differentiation focus
B)  cost focus
C)  differentiation
D)  revenue leadership
E)  profit enhancementF) All of the above
G) B) and E)

Question 12

Ben & Jerry's Homemade, Inc., is a profitable company that has a reputation for quality. The company is committed to treating its employees fairly and acting ethically in all transactions. It seeks to purchase all of its supplies from socially responsible suppliers. It is a leader in protecting the environment and corporate philanthropy. Ben & Jerry's uses

Accepted Answer

A)  a value-driven strategy.
B)  marketing ROI.
C)  value analyses.
D)  value-based planning.
E)  value-added marketing.F) A) and D)
G) B) and E)

Question 13

Synergy analysis incorporates two business analysis tools, which are diversification analysis and

Accepted Answer

A)  Porter's generic business strategy framework.
B)  the market-product grid framework.
C)  SWOT analysis.
D)  Porter's competitive advantage.
E)  share point analysis.F) A) and E)
G) C) and D)

Question 14

Organizational groupings in which sales territories are subdivided according to location are referred to as

Accepted Answer

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

Question 15

Hard Candy is a cosmetics company that markets the Palm Palette-all the makeup a "girl-on-the-go" needs without a cumbersome makeup bag. It comes in three shades-glam, funky, and girlies. Hard Candy targets women who are 20-somethings. Which one of Porter's generic business strategies is Hard Candy most likely using?

Accepted Answer

A)  differentiation focus
B)  cost focus
C)  differentiation
D)  cost leadership
E)  profit enhancementF) B) and E)
G) A) and E)

Question 16

The information needed for the implementation phase of the strategic marketing process includes: (1)  __________, (2)  organizational charts, and (3)  marketing research reports.

Accepted Answer

A)  a time-based agenda and an action item list
B)  positioning studies
C)  market-product grids with target segments and product groupings
D)  detailed plans to execute the marketing program
E)  projected future sales, expenses, and profitsF) A) and D)
G) A) and B)

Question 17

Based on a market-product grid framework, which marketing strategy focuses on a single market segment but adds additional product lines?

Accepted Answer

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

Question 18

Developing a program schedule involves: (1)  identifying the main tasks, (2)  determining the time required to complete each task, (3)  arranging the activities to meet the deadline, and (4)  __________.

Accepted Answer

A)  selecting a product champion
B)  assigning people the responsibilities to complete each task
C)  defining specific market segments
D)  creating marketing metrics to evaluate the results
E)  scheduling a follow-up meeting to evaluate the resultsF) None of the above
G) B) and E)

Question 19

The more a marketing plan is based on __________, the less uncertainty and fewer risks are associated with executing it.

Accepted Answer

A)  opinions
B)  intuition
C)  facts and valid assumptions
D)  past historical data
E)  alternative contingenciesF) A) and D)
G) A) and C)

Question 20

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...

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

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 a performance-oriented culture?

Correct Answer
verified

Developing a program schedule involves: (1) identifying the main tasks, (2) determining the time required to complete each task, (3) arranging the activities to meet the deadline, and (4) __________.

Correct Answer
verified

Based on a market-product grid framework, which marketing strategy focuses on a single market segment but adds additional product lines?

Correct Answer
verified

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

Correct Answer
verified

The information needed for the implementation phase of the strategic marketing process includes: (1) __________, (2) organizational charts, and (3) marketing research reports.

Correct Answer
verified

A company that uses an organizational structure by marketing department, finance department, human resource department, etc., is most likely using __________ groupings.

Correct Answer
verified

List the three steps of the planning phase of the strategic marketing process. Briefly describe actions that make up each of the three steps. What information is collected in each step?

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

Synergy analysis incorporates two business analysis tools, which are diversification analysis and

Correct Answer
verified

Delphi Automobile Systems manufactures and sells satellite communications systems for automobiles that connect you and your car to 24-hour-a-day emergency service, direct you to a destination, and enable you to order a movie while on the road. Delphi Automobile Systems most likely uses

Correct Answer
verified

Office Max provides low product prices for products strictly classified as office supplies. In terms of Porter's generic business strategy, Office Max is most likely using a __________ strategy.

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

Correct Answer
verified

Correct Answer
verified

Organizational groupings in which sales territories are subdivided according to location are referred to as

Correct Answer
verified

The more a marketing plan is based on __________, the less uncertainty and fewer risks are associated with executing it.

Correct Answer
verified

Within DuPont's textile fiber department, there is a separate product manager for rayon, acetate, Orlon, nylon, and Dacron. The product manager for DuPont nylon would be responsible for

Correct Answer
verified

Share point refers to

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

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.

Correct Answer
verified

Correct Answer
verified

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

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 a performance-oriented culture?

Correct AnswerverifiedShow Answer

Developing a program schedule involves: (1) identifying the main tasks, (2) determining the time required to complete each task, (3) arranging the activities to meet the deadline, and (4) __________.

Correct AnswerverifiedShow Answer

Based on a market-product grid framework, which marketing strategy focuses on a single market segment but adds additional product lines?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The information needed for the implementation phase of the strategic marketing process includes: (1) __________, (2) organizational charts, and (3) marketing research reports.

Correct AnswerverifiedShow Answer

A company that uses an organizational structure by marketing department, finance department, human resource department, etc., is most likely using __________ groupings.

Correct AnswerverifiedShow Answer

List the three steps of the planning phase of the strategic marketing process. Briefly describe actions that make up each of the three steps. What information is collected in each step?

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

Synergy analysis incorporates two business analysis tools, which are diversification analysis and

Correct AnswerverifiedShow Answer

Delphi Automobile Systems manufactures and sells satellite communications systems for automobiles that connect you and your car to 24-hour-a-day emergency service, direct you to a destination, and enable you to order a movie while on the road. Delphi Automobile Systems most likely uses

Correct AnswerverifiedShow Answer

Office Max provides low product prices for products strictly classified as office supplies. In terms of Porter's generic business strategy, Office Max is most likely using a __________ strategy.

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Organizational groupings in which sales territories are subdivided according to location are referred to as

Correct AnswerverifiedShow Answer

The more a marketing plan is based on __________, the less uncertainty and fewer risks are associated with executing it.

Correct AnswerverifiedShow Answer

Within DuPont's textile fiber department, there is a separate product manager for rayon, acetate, Orlon, nylon, and Dacron. The product manager for DuPont nylon would be responsible for

Correct AnswerverifiedShow Answer

Share point refers to

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

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.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

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verified

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

Correct Answer
verified

Correct Answer
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