Question 1

essence of marketing evaluation is (1) comparing results with planned goals to identify deviations and (2) __________.

Accepted Answer

A)   taking corrective actions
B)   devising a new budget
C)   revising the goals that fell short of expectations
D)   investigating the causes of deviations
E)   updating the marketing planF) B) and E)
G) D) and E)

Question 2

of Porter's generic business strategies requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments.This is referred to as a __________.

Accepted Answer

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

Question 3

Porter's generic business strategies shown in Figure 22-4 above,"D" refers to a __________ strategy.

Accepted Answer

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

Question 4

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 groupingsF) B) and D)
G) A) and C)

Question 5

Figure 22-7
-Which of the following tasks shown in Figure 22-7 above must be done sequentially?

Accepted Answer

A)   1 and 2
B)   2 and 3
C)   3 and 4
D)   5 and 7
E)   6 and 7F) A) and D)
G) None of the above

Question 6

actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include: (1) identify industry trends, (2) analyze competitors, (3) assess own company,and (4) __________.

Accepted Answer

A)   set market and product goals
B)   research customers
C)   select target markets
D)   find points of difference
E)   position the productF) A) and B)
G) None of the above

Question 7

commonly-used methods to improve marketing ROI (return on investment) are__________.

Accepted Answer

A)   sales analysis and cost analysis
B)   marketing research and marketing audits
C)   social audits and marketing audits
D)   marketing metrics and marketing dashboards
E)   internal audits and external auditsF) A) and B)
G) B) and C)

Question 8

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)   positioning studies
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 B)
G) All of the above

Question 9

Figure 22-10: General Mills Marketing Dashboard Chart "D"
-Consider Figure 22-10: General Mills Marketing Dashboard Chart "D" above.The bar graph for the Drug channel would most likely cause marketers to

Accepted Answer

A)   put more products into drugstores and remove product from warehouse stores.
B)   reduce the choices to keep drugstores more in line with the other four distribution channels.
C)   find out why the number of flavors in drugstores jumped in December and exploit that information.
D)   investigate shopping preferences of customers between Warm Delights Minis over Warm Delights (regular) .
E)   take corrective actions that would allow drugstores to sell as much as grocery stores.F) B) and D)
G) B) and E)

Question 10

participating in major projects in college marketing classes,effective teams can make use of a __________ to be sure that each team member does a fair amount of work and that their class projects are finished efficiently and on time.

Accepted Answer

A)   market-product grid
B)   project schedule
C)   Plan-A-Gram
D)   Gantt chart
E)   sales response functionF) A) and E)
G) All of the above

Question 11

of the following are distribution channels General Mills uses to sell its Warm Delights Minis EXCEPT:

Accepted Answer

A)   drug stores/pharmacies.
B)   mass merchandisers.
C)   vending machines.
D)   warehouse/club stores.
E)   convenience stores.F) B) and E)
G) A) and B)

Question 12

Which of the following is a typical objective for value-based planning?

Accepted Answer

A)   integrate sustainable development
B)   demonstrate corporate integrity
C)   contribute to the price of a company's stock
D)   reduce employee turnover
E)   identify new channels of distributionF) B) and C)
G) A) and E)

Question 13

aid to implementing a marketing plan and consisting of four columns: (1) the task; (2) the person responsible for completing the task; (3) the date to finish the task; and (4) what is to be delivered is referred to as a(n) __________.

Accepted Answer

A)   output report
B)   Gantt chart
C)   market plan
D)   action item list
E)   marketing action memoF) A) and B)
G) All of the above

Question 14

market-product grid shows __________ horizontally across the rows and __________ vertically down the columns.

Accepted Answer

A)   financial synergies; marketing synergies
B)   distribution synergies; R&D-manufacturing synergies
C)   R&D-manufacturing synergies; financial synergies
D)   revenue synergies; cost synergies
E)   marketing synergies; R&D-manufacturing synergiesF) A) and B)
G) C) and D)

Question 15

market-product grid can help identify

Accepted Answer

A)   the fastest areas of industry growth.
B)   competitors that offer product substitutes.
C)   marketing and R&D-manufacturing synergies.
D)   technological breakthroughs leading to new product opportunities.
E)   product offerings by the resources invested to maintain them.F) B) and D)
G) B) and C)

Question 16

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

Question 17

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 "young pet owners," in terms of the market-product grid framework,Loving Care Pets is using a __________ strategy.

Accepted Answer

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

Question 18

Which of the following statements best reflects the guideline for using a base of facts and valid assumptions?

Accepted Answer

A)   "Statistics show that green is the most popular color for scarves for men; it only stands to reason the women will feel the same way."
B)   "Of all nurses surveyed, 16 percent reported that they prefer a lighter weight handle. But we have to see if there is a difference in preference between male and female nurses before we make any modifications."
C)   "If people prefer chicken over beef at lunch, it is logical that they will prefer chicken for dinner as well."
D)   "I know that your research shows that yellow ducks will sell better, but my granddaughter loves pink bunnies, so that's what we'll put on the cards."
E)   "My intuition says that everyone will like the new iPhone."F) A) and B)
G) D) and E)

Question 19

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

Accepted Answer

The evaluation phase of the strategic ma...

Question 20

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) A) and C)

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

Figure 22-7 -Which of the following tasks shown in Figure 22-7 above must be done sequentially?

Correct Answer
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market-product grid can help identify

Correct Answer
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Figure 22-10: General Mills Marketing Dashboard Chart "D" -Consider Figure 22-10: General Mills Marketing Dashboard Chart "D" above.The bar graph for the Drug channel would most likely cause marketers to

Correct Answer
verified

essence of marketing evaluation is (1) comparing results with planned goals to identify deviations and (2) __________.

Correct Answer
verified

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

Correct Answer
verified
The evaluation phase of the strategic ma...
View Answer

of Porter's generic business strategies requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments.This is referred to as a __________.

Correct Answer
verified

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 "young pet owners," in terms of the market-product grid framework,Loving Care Pets is using a __________ strategy.

Correct Answer
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Correct Answer
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Porter's generic business strategies shown in Figure 22-4 above,"D" refers to a __________ strategy.

Correct Answer
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commonly-used methods to improve marketing ROI (return on investment) are__________.

Correct Answer
verified

actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include: (1) identify industry trends, (2) analyze competitors, (3) assess own company,and (4) __________.

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

participating in major projects in college marketing classes,effective teams can make use of a __________ to be sure that each team member does a fair amount of work and that their class projects are finished efficiently and on time.

Correct Answer
verified

aid to implementing a marketing plan and consisting of four columns: (1) the task; (2) the person responsible for completing the task; (3) the date to finish the task; and (4) what is to be delivered is referred to as a(n) __________.

Correct Answer
verified

of the following are distribution channels General Mills uses to sell its Warm Delights Minis EXCEPT:

Correct Answer
verified

Which of the following is a typical objective for value-based planning?

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

Correct Answer
verified

Which of the following statements best reflects the guideline for using a base of facts and valid assumptions?

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

market-product grid shows horizontally across the rows and vertically down the columns.

Correct Answer
verified

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

Figure 22-7 -Which of the following tasks shown in Figure 22-7 above must be done sequentially?

Correct AnswerverifiedShow Answer

market-product grid can help identify

Correct AnswerverifiedShow Answer

Figure 22-10: General Mills Marketing Dashboard Chart "D" -Consider Figure 22-10: General Mills Marketing Dashboard Chart "D" above.The bar graph for the Drug channel would most likely cause marketers to

Correct AnswerverifiedShow Answer

essence of marketing evaluation is (1) comparing results with planned goals to identify deviations and (2) __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedThe evaluation phase of the strategic ma...View AnswerShow Answer

of Porter's generic business strategies requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments.This is referred to as a __________.

Correct AnswerverifiedShow Answer

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 "young pet owners," in terms of the market-product grid framework,Loving Care Pets is using a __________ strategy.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Porter's generic business strategies shown in Figure 22-4 above,"D" refers to a __________ strategy.

Correct AnswerverifiedShow Answer

commonly-used methods to improve marketing ROI (return on investment) are__________.

Correct AnswerverifiedShow Answer

actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include: (1) identify industry trends, (2) analyze competitors, (3) assess own company,and (4) __________.

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

participating in major projects in college marketing classes,effective teams can make use of a __________ to be sure that each team member does a fair amount of work and that their class projects are finished efficiently and on time.

Correct AnswerverifiedShow Answer

aid to implementing a marketing plan and consisting of four columns: (1) the task; (2) the person responsible for completing the task; (3) the date to finish the task; and (4) what is to be delivered is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

of the following are distribution channels General Mills uses to sell its Warm Delights Minis EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following is a typical objective for value-based planning?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements best reflects the guideline for using a base of facts and valid assumptions?

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

market-product grid shows __________ horizontally across the rows and __________ vertically down the columns.

Correct AnswerverifiedShow Answer

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The evaluation phase of the strategic ma...
View Answer

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market-product grid shows horizontally across the rows and vertically down the columns.

Correct Answer
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