Question 1

The most senior executive responsible for a firm's marketing activities is called the

Accepted Answer

A)  brand manager.
B)  product manager.
C)  chief marketing officer (CMO) .
D)  director of sales.
E)  marketing director.F) B) and D)
G) B) and E)

Question 2

Loving Care Pets manufactures food for dogs, cats, rabbits, and gerbils specifically created for pets under three months of age. In terms of the market-product grid framework, adding a line of pet food for mature dogs, cats, rabbits, and gerbils will result in a __________ strategy that will provide Loving Care Pets with increased marketing efficiencies.

Accepted Answer

A)  market specialization
B)  market product concentration
C)  product specialization
D)  selective specialization
E)  full coverageF) None of the above
G) A) and B)

Question 3

Marketing ROI (return on investment)  refers to

Accepted Answer

A)  the application of modern measurement technologies to understand, quantify, and optimize production costs.
B)  the application of modern measurement technologies to understand, quantify, and optimize marketing spending.
C)  the application of modern measurement technologies to understand, quantify, and optimize research and development (R&
D)   expenses.
D)  the allocation of funds based on a percentage of the total marketing budget determined by assessing the anticipated revenue return for a given marketing action.
E)  the allocation of funds based upon the minimum expenditure possible to create the maximum results in terms of total sales.F) D) and E)
G) C) and D)

Question 4

One of Porter's generic business strategies that involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of markets segments is referred to as a __________ strategy.

Accepted Answer

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

Question 5

Functional groupings are organizational groupings

Accepted Answer

A)  that group specific customer segments.
B)  in which sales territories are subdivided according to geographic location.
C)  that represent the different departments or business activities within a firm.
D)  in which a unit is responsible for specific product offerings.
E)  that combine both market-based groupings with product groupings.F) A) and C)
G) B) and E)

Question 6

The actions taken during the implementation phase of the strategic marketing process include: (1)  obtain resources, (2)  __________, (3)  develop schedules, and (4)  execute the marketing program.

Accepted Answer

A)  select target markets
B)  design the marketing organization
C)  position the product
D)  find points of difference
E)  develop the budget by estimating revenues, expenses, and profitsF) B) and E)
G) B) and D)

Question 7

Recently, General Mills launched all of the following products except

Accepted Answer

A)  Nature Valley Protein granola.
B)  Trix with four colors.
C)  Chex gluten free mix.
D)  Strawberry Cheerios.
E)  Fiber One snack bars.F) A) and B)
G) C) and E)

Question 8

Amy Smith has just completed measuring the results of her firm's product performance. Her next step will be to

Accepted Answer

A)  do a profitability analysis.
B)  take necessary corrective actions.
C)  bring these to the marketing auditor.
D)  proceed regardless of deviations from original plans.
E)  compare the results against the goals specified in the marketing plan.F) B) and E)
G) All of the above E

Question 9

The information needed for the evaluation phase of the strategic marketing process includes: (1)  __________ and (2)  action memos to correct problems and exploit opportunities.

Accepted Answer

A)  positioning studies
B)  market-product grids with targets
C)  detailed plans to execute the marketing program
D)  tracking reports to measure results
E)  projected future sales, expenses, and profitsF) B) and D)
G) None of the above

Question 10

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

Accepted Answer

A)  corporate return on investment
B)  revenues associated with each point of market share
C)  trends for industry and competitors
D)  possible cannibalization effects on other products in the line
E)  organizational chartsF) D) and E)
G) All of the above

Question 11

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

Question 12

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

Question 13

When using share points to make marketing resource allocation decisions, marketing managers must estimate: (1)  the market share for the product, (2)  the revenues associated with each point of market share, (3)  __________, 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 contribution to overhead and profit of each share point
E)  the total financial resources available for a sustained marketing effortF) A) and D)
G) A) and E)

Question 14

Which of the following statements regarding marketing failures is most accurate?

Accepted Answer

A)  Marketing failures are due to a lack of a program champion who is willing to make decisions and act on them.
B)  Marketing failures are due to a lack of financial support.
C)  Marketing failures are due to a lack of originality.
D)  Marketing failures are due to poorly communicated plans.
E)  Marketing failures are due to a poor plan and strategy, poor implementation, or both.F) A) and B)
G) C) and D)

Question 15

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) All of the above
G) B) and C)

Question 16

All of the following are disruptive questions to hopefully achieve disruptive innovations except

Accepted Answer

A)  "why" and "why not" questions.
B)  "any suggestions" questions.
C)  "what if" questions.
D)  "what caused" questions.
E)  "what is" questions.F) C) and D)
G) B) and E)

Question 17

The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: (1)  __________, (2)  market-product grids with targets, and (3)  perceptual maps and positioning statements.

Accepted Answer

A)  market potential studies
B)  trends for industry and competitors
C)  marketing mix actions
D)  detailed plans to execute the marketing program
E)  projected future sales, expenses, and profitsF) C) and D)
G) All of the above A

Question 18

To overcome the problem that occurs during product development when consumers say one thing in a market research study and do another when facing a supermarket shelf, the Warm Delights team ran marketing experiments that involved all of the following except

Accepted Answer

A)  measuring the results of the Warm Delights experiments.
B)  repeating the Warm Delights marketing experimentation process.
C)  keeping the initial Warm Delights packaging, which communicated its cooking convenience to prospective buyers.
D)  putting a Warm Delights prototype dessert in a store.
E)  improving the Warm Delights prototype.F) C) and D)
G) A) and D)

Question 19

Many large, packaged goods marketers like Procter & Gamble, Kraft, and Pillsbury have used the product manager (or brand manager)  system of marketing organization and implementation. Which of the following is the key advantage of this system?

Accepted Answer

A)  Product managers have relatively little authority.
B)  Product managers are short-term in their orientation.
C)  Product managers have direct responsibility for research and development of new products.
D)  Product managers can assume profit-and-loss responsibility for the performance of the product line.
E)  Product managers have line responsibility over sales managers.F) None of the above
G) A) and D)

Question 20

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

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

The most senior executive responsible for a firm's marketing activities is called the

Correct Answer
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Correct Answer
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Marketing ROI (return on investment) refers to

Correct Answer
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One of Porter's generic business strategies that involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of markets segments is referred to as a __________ strategy.

Correct Answer
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A

Functional groupings are organizational groupings

Correct Answer
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The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources, (2) __________, (3) develop schedules, and (4) execute the marketing program.

Correct Answer
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Recently, General Mills launched all of the following products except

Correct Answer
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Amy Smith has just completed measuring the results of her firm's product performance. Her next step will be to

Correct Answer
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E

The information needed for the evaluation phase of the strategic marketing process includes: (1) __________ and (2) action memos to correct problems and exploit opportunities.

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

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
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When using share points to make marketing resource allocation decisions, marketing managers must estimate: (1) the market share for the product, (2) the revenues associated with each point of market share, (3) __________, and (4) possible cannibalization effects on other products in the line.

Correct Answer
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Which of the following statements regarding marketing failures is most accurate?

Correct Answer
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A matrix organization

Correct Answer
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All of the following are disruptive questions to hopefully achieve disruptive innovations except

Correct Answer
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The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: (1) __________, (2) market-product grids with targets, and (3) perceptual maps and positioning statements.

Correct Answer
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A

To overcome the problem that occurs during product development when consumers say one thing in a market research study and do another when facing a supermarket shelf, the Warm Delights team ran marketing experiments that involved all of the following except

Correct Answer
verified

Many large, packaged goods marketers like Procter & Gamble, Kraft, and Pillsbury have used the product manager (or brand manager) system of marketing organization and implementation. Which of the following is the key advantage of this system?

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

Correct Answer
verified

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

The most senior executive responsible for a firm's marketing activities is called the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Marketing ROI (return on investment) refers to

Correct AnswerverifiedShow Answer

One of Porter's generic business strategies that involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of markets segments is referred to as a __________ strategy.

Correct AnswerverifiedA

Functional groupings are organizational groupings

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The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources, (2) __________, (3) develop schedules, and (4) execute the marketing program.

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Recently, General Mills launched all of the following products except

Correct AnswerverifiedShow Answer

Amy Smith has just completed measuring the results of her firm's product performance. Her next step will be to

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The information needed for the evaluation phase of the strategic marketing process includes: (1) __________ and (2) action memos to correct problems and exploit opportunities.

Correct AnswerverifiedShow Answer

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

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

Correct AnswerverifiedShow Answer

When using share points to make marketing resource allocation decisions, marketing managers must estimate: (1) the market share for the product, (2) the revenues associated with each point of market share, (3) __________, and (4) possible cannibalization effects on other products in the line.

Correct AnswerverifiedShow Answer

Which of the following statements regarding marketing failures is most accurate?

Correct AnswerverifiedShow Answer

A matrix organization

Correct AnswerverifiedShow Answer

All of the following are disruptive questions to hopefully achieve disruptive innovations except

Correct AnswerverifiedShow Answer

The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: (1) __________, (2) market-product grids with targets, and (3) perceptual maps and positioning statements.

Correct AnswerverifiedA

To overcome the problem that occurs during product development when consumers say one thing in a market research study and do another when facing a supermarket shelf, the Warm Delights team ran marketing experiments that involved all of the following except

Correct AnswerverifiedShow Answer

Many large, packaged goods marketers like Procter & Gamble, Kraft, and Pillsbury have used the product manager (or brand manager) system of marketing organization and implementation. Which of the following is the key advantage of this system?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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