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Exam 19: Pulling It All Together: the Strategic Marketing Process

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Question 41

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A new company announces the following at a press release: "We are in the business of making luxury 150 foot yachts, and only luxury 150 foot yachts." The competition would assume this company's strategy is:

A) product specialization
B) market specialization
C) selective specialization
D) market-product concentration

E) C) and D)
F) None of the above

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Question 42

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As the marketing manager for Acme Products Inc., you just became the new program leader for Baubles, a product Acme introduced last year. Initial sales far exceeded expectations. In response, the previous program leader decided to reduce the profit margins for channel members to more quickly recover the high costs incurred in the development of the Baubles product and its marketing program. Unfortunately, sales Of Acme Baubles declined by 2 percent while its market share declined by 7 percent as new competitors entered the market. After conducting a customer survey, you Conclude customers were generally satisfied with Acme's Baubles. However, Baubles were not as readily accessible as they were the previous year. Furthermore, after Conducting a survey among the leading wholesalers and retailers of Acme Baubles, you discover they were not pleased with the reduced margins. Moreover, because Acme's principal competitors offered them greater margins, they gave the competitors' products competing with Baubles better service and shelf space than Acme's. This is an example of:

A) an appropriate marketing strategy but ineffective implementation.
B) an inappropriate marketing strategy and ineffective implementation.
C) an appropriate marketing strategy and effective implementation.
D) an inappropriate marketing strategy but effective implementation.

E) All of the above
F) A) and D)

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Question 43

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Last year, General Mills spent $3 million on advertising and observed a 5 percent increase in market share. This year, they spent $4 million and observed a 7 percent increase. These measures are considered the:

Loving Care Pets manufactures food for dogs, cats, rabbits, and gerbils, specifically created for pets under three months of age. Assuming it is marketing to a single segment of "pet owners," in terms of the market-product grid framework, Loving Care Pets is using a __________strategy.

Whirlpool uses an organizational structure with the following headings: Small Appliance, Large Appliance, Outdoor Equipment, and Electronics. What format of organizational structure is Whirlpool based on?

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

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

Which of the following is NOT a divisional grouping used by marketing managers to implement plans and achieve their organizational objectives?

The information used during the evaluation phase of the strategic marketing process includes: 1) ________and 2) action memos to correct problems, exploit opportunities.

In the 1920s, the Ford Motor Company dominated the automotive industry. Henry Ford's low priced, mass produced Model T, available in only one colour and with few options, was selling like hot cakes to car buyers. In order to combat Ford's success, General Motors offered automobiles in a variety of colours and with special features That were designed to fit the specific needs and wants of individual car buyers in many Different segments of the market. By employing a ________business strategy, General Motors developed a position that was very distinct from that of the Ford Motor Company.

Ingram Micro is the biggest computer wholesaler in the world. It has two divisions. One provides supplies for companies that manufacture computer products, such as IBM and Microsoft. To them it sells motherboards, monitors, etc. The other has been developed to serve the needs of the resellers and retailers who sell computers to Businesses and individual customers. To them, it sells user-ready computers. Ingram Micro uses a simplistic version of what kind of organizational structure for marketing?

Employees who have the authority and responsibility to issue orders to people who report to them are known to be in which position?

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

Many people enjoy cereal at breakfast. In terms of "profit enhancement options" alternatives, cereal manufacturers who promote cereal as a great late-night snack to this group would be using a________ strategy.

All of the following are correct statements about the evolving role of the Chief Marketing Officer (CMO) , except?

A firm following a differentiation focus strategy would be found in which quadrant in Figure 19-4?

Which of the following output reports is used in the planning phase of the strategic marketing process?

The marketing manager for Ocean Spray cranberry products is the team leader for each phase of the company's strategic marketing process. During the previous year, sales of cranberries in Canada did not meet expectations. Which of the following actions during the planning phase of the strategic marketing process would generate the required information for his team to develop the plans that define the goals and marketing mix strategies to be achieved for next year?

Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process?

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