Question 1

An action item list is

Accepted Answer

A)  an aid to implement a marketing plan that consists of four columns.
B)  a tool that shows the relationships through time of the various program tasks.
C)  a graphical representation of a program schedule.
D)  a systematic method to itemize the "value" of products and services.
E)  an aid to implementing a business plan and consisting of five columns.

Question 2

General Electric's Jack Welch became a legend in making GE more efficient and far better at implementation.One strategy he used to do this was

Accepted Answer

A)  creating new mediation teams between planners and implementers.
B)  developing task-specific innovation teams.
C)  hiring outside consulting firms.
D)  de-layering the organization.
E)  conducting regular debriefing meetings to keep everyone aware of what was going on.

Question 3

When using share points to make marketing resource allocation decisions,marketing managers must estimate which of the following?

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 share

Question 4

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 concentration

Question 5

Figure 22-1
 
-According to Figure 22-1 above,an additional annual marketing effort of $1 million is best spent after having already spent how much in marketing effort to date?

Accepted Answer

A)  $1 million
B)  $2 million
C)  $3 million
D)  $5 million
E)  $6 million

Question 6

Figure 22-3
 
-In Porter's generic business strategies shown in Figure 22-3 above,Box C refers to a ________ strategy.

Accepted Answer

A)  cost leadership
B)  quality focus
C)  differentiation focus
D)  cost focus
E)  differentiation

Question 7

Which of the following 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 line

Question 8

The firm's annual marketing effort,such as advertising,personal selling,sales promotion,direct marketing,and public relations expenses is ________ in a sales response function graph.

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)  plotted on the horizontal (X) axis

Question 9

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.

Question 10

During the planning phase of the strategic marketing process,the output report would take the form of a(n)

Accepted Answer

A)  action memo.
B)  operating statement.
C)  marketing dashboard.
D)  marketing plan.
E)  corrective action memo.

Question 11

The information needed for the evaluation phase of the strategic marketing process includes

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 profits.

Question 12

Explain the steps in the evaluation phase of the strategic marketing process.

Accepted Answer

Evaluation,the final phase of the strate...

Question 13

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 lie.

Question 14

What is the assumed shape of the graph of the sales response function?

Accepted Answer

A)  U-shaped
B)  S-shaped
C)  a straight,downward-sloping line,starting in the upper left and extending to the lower right of the graph
D)  a straight,upward-sloping line,starting in the lower left and extending to the upper right of the graph
E)  W-shaped

Question 15

Porter's four generic business strategies involve combinations of ________ and a stress on costs versus product differentiation.

Accepted Answer

A)  organizational structure
B)  degree of geographical distribution
C)  investment in research and development
D)  relative number of products in a product line
E)  competitive scope or the breadth of the target markets

Question 16

The actions taken during the implementation phase of the strategic marketing process include

Accepted Answer

A)  obtaining resources
B)  selecting target markets
C)  positioning the product
D)  finding points of difference
E)  developing the budget by estimating revenues,expenses,and profits

Question 17

Kelly Johnson of Lockheed Martin's Skunk Works stressed the following basic tenet:

Accepted Answer

A)  Implement a "do it,fix it,try it" approach.
B)  Take a "go and see" approach.
C)  Have a "bias for action."
D)  "Avoid paralysis by analysis."
E)  "Better to ask forgiveness than permission."

Question 18

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 enhancement

Question 19

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...

Question 20

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

Accepted Answer

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

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

Figure 22-3 -In Porter's generic business strategies shown in Figure 22-3 above,Box C refers to a ________ strategy.

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

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

Correct Answer
verified

Porter's four generic business strategies involve combinations of ________ and a stress on costs versus product differentiation.

Correct Answer
verified

When using share points to make marketing resource allocation decisions,marketing managers must estimate which of the following?

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

The firm's annual marketing effort,such as advertising,personal selling,sales promotion,direct marketing,and public relations expenses is ________ in a sales response function graph.

Correct Answer
verified

Kelly Johnson of Lockheed Martin's Skunk Works stressed the following basic tenet:

Correct Answer
verified

Figure 22-1 -According to Figure 22-1 above,an additional annual marketing effort of $1 million is best spent after having already spent how much in marketing effort to date?

Correct Answer
verified

General Electric's Jack Welch became a legend in making GE more efficient and far better at implementation.One strategy he used to do this was

Correct Answer
verified

An action item list is

Correct Answer
verified

Explain the steps in the evaluation phase of the strategic marketing process.

Correct Answer
verified
Evaluation,the final phase of the strate...
View Answer

The actions taken during the implementation phase of the strategic marketing process include

Correct Answer
verified

Correct Answer
verified

The information needed for the evaluation phase of the strategic marketing process includes

Correct Answer
verified

During the planning phase of the strategic marketing process,the output report would take the form of a(n)

Correct Answer
verified

A matrix organization

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

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

Correct Answer
verified

What is the assumed shape of the graph of the sales response function?

Correct Answer
verified

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

Figure 22-3 -In Porter's generic business strategies shown in Figure 22-3 above,Box C refers to a ________ strategy.

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

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

Correct AnswerverifiedShow Answer

Porter's four generic business strategies involve combinations of ________ and a stress on costs versus product differentiation.

Correct AnswerverifiedShow Answer

When using share points to make marketing resource allocation decisions,marketing managers must estimate which of the following?

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

The firm's annual marketing effort,such as advertising,personal selling,sales promotion,direct marketing,and public relations expenses is ________ in a sales response function graph.

Correct AnswerverifiedShow Answer

Kelly Johnson of Lockheed Martin's Skunk Works stressed the following basic tenet:

Correct AnswerverifiedShow Answer

Figure 22-1 -According to Figure 22-1 above,an additional annual marketing effort of $1 million is best spent after having already spent how much in marketing effort to date?

Correct AnswerverifiedShow Answer

General Electric's Jack Welch became a legend in making GE more efficient and far better at implementation.One strategy he used to do this was

Correct AnswerverifiedShow Answer

An action item list is

Correct AnswerverifiedShow Answer

Explain the steps in the evaluation phase of the strategic marketing process.

Correct AnswerverifiedEvaluation,the final phase of the strate...View AnswerShow Answer

The actions taken during the implementation phase of the strategic marketing process include

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The information needed for the evaluation phase of the strategic marketing process includes

Correct AnswerverifiedShow Answer

During the planning phase of the strategic marketing process,the output report would take the form of a(n)

Correct AnswerverifiedShow Answer

A matrix organization

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

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

Correct AnswerverifiedShow Answer

What is the assumed shape of the graph of the sales response function?

Correct AnswerverifiedShow Answer

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Evaluation,the final phase of the strate...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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