Question 1

You have been told that a company increased its marketing effort from $3 million to $5 million, resulting in increased sales revenue from $10 million to $20 million. Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Accepted Answer

A)  4:1
B)  1:5
C)  5:1
D)  1:4
E)  5:1.5F) B) and E)
G) D) and E)

Question 2

What is the difference between line and staff positions in a marketing organization?

Accepted Answer

People in line positions, such as group ...

Question 3

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

Accepted Answer

A)  marketing return on investment
B)  marketing research reports
C)  revenues associated with each point of market share
D)  trends for industry and competitors
E)  possible cannibalization effects on other products in the lineF) B) and D)
G) A) and D)

Question 4

The mathematical function that relates the expense of marketing effort to the marketing results obtained is referred to as

Accepted Answer

A)  marketing ROI.
B)  market share profitability.
C)  share point analysis.
D)  synergy analysis.
E)  a sales response function.F) A) and E)
G) A) and D)

Question 5

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)  planners and their plans may have lost sight of their customers' needs; (4)  too much time and effort may be spent on data collection and writing plans that are too complex to implement; and (5)  __________.

Accepted Answer

A)  there is poor communication between the firm and its stakeholders
B)  although management says they are behind the plans, they do not allocate resources to the degree necessary for success
C)  there is a lack of leadership
D)  plans can be thwarted by disgruntled employees, other departments, or competitors
E)  line operating managers often feel no sense of ownership in implementing the plansF) A) and D)
G) B) and D)

Question 6

Management experts call for a "bias for action." How can this attitude be important in marketing program implementation?

Accepted Answer

Management experts have concluded perfec...

Question 7

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?

Accepted Answer

A)  marketing return on investment
B)  market share for the product
C)  trends for industry and competitors
D)  revenues associated with each point of market share
E)  possible cannibalization effects on other products in the lineF) A) and B)
G) B) and E)

Question 8

There are five alternative marketing strategies that can be identified by market-product grids: market-product concentration, market specialization, product specialization, selective specialization, and

Accepted Answer

A)  full coverage.
B)  diversification.
C)  market specialization.
D)  selective specialization.
E)  new-product specialization.F) A) and E)
G) D) and E)

Question 9

Marketing ROI (return on investment)  uses modern measurement technologies to determine the results of

Accepted Answer

A)  marketing spending.
B)  manufacturing and distribution procedures.
C)  market-product sales.
D)  organizational structure.
E)  personal selling.F) C) and E)
G) A) and E)

Question 10

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)  market-product grids with targets
B)  marketing return on investment
C)  revenues associated with each point of market share
D)  trends for industry and competitors
E)  possible cannibalization effects on other products in the lineF) C) and D)
G) C) and E)

Question 11

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as

Accepted Answer

A)  differentiation analysis.
B)  synergy analysis.
C)  SWOT analysis.
D)  sales response analysis.
E)  competitive grid analysis.F) A) and B)
G) C) and D)

Question 12

Toyota is generally acknowledged as the best in the world in revolutionizing the design and manufacture of autos. Toyota managers created the doctrine of kaizen, or

Accepted Answer

A)  continuous improvement.
B)  multilevel input.
C)  make haste, not waste.
D)  continuous production.
E)  continuous communication.F) A) and E)
G) A) and C)

Question 13

List the three phases of the strategic marketing process and the output report for each.

Accepted Answer

(1) Planning is the first phase. Its out...

Question 14

The strategic marketing process involves three phases: planning, implementation, and

Accepted Answer

A)  review.
B)  execution.
C)  evaluation.
D)  goal revision.
E)  correction.F) C) and E)
G) B) and D)

Question 15

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.F) D) and E)
G) B) and D)

Question 16

Synergy analysis seeks opportunities by finding the optimum balance between

Accepted Answer

A)  the needs of the manufacturer versus the needs of the consumer.
B)  the desire for profit versus responsibility to society as a whole.
C)  the expense of marketing effort versus the marketing results obtained.
D)  a firm's market segments and its product groupings.
E)  marketing efficiencies versus R&D-manufacturing efficiencies.F) D) and E)
G) A) and E)

Question 17

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 its organizational structure?

Accepted Answer

A)  Costco
B)  Smucker's
C)  Lockheed Martin's Skunk Works
D)  Coca-Cola
E)  KodakF) A) and E)
G) B) and D)

Question 18

An action item list is

Accepted Answer

A)  a list of topics to be covered during a meeting that shows the running time allocated to and the person(s)  responsible for leading the discussion for each topic.
B)  a chart that demonstrates how a set of tasks for a project can be sequentially and concurrently completed by specified times.
C)  an aid to implementing a marketing plan consisting of four columns: (1)  the task, (2)  the person responsible for completing that task, (3)  the date to finish the task, and (4)  what is to be delivered.
D)  a tool that shows the relationships through time of the various program tasks, which 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)  assigning people the responsibilities to complete each task.
E)  a statistical tool, used in project management, that is designed to analyze and represent the tasks involved in completing a given project.F) None of the above
G) All of the above

Question 19

Market-based 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 functional groupings with product groupings.F) A) and D)
G) C) and D)

Question 20

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

Accepted Answer

A)  the budget
B)  the product or service
C)  the points of difference
D)  the promotional message
E)  the person responsible for completing the taskF) A) and B)
G) A) and C)

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

The strategic marketing process involves three phases: planning, implementation, and

Correct Answer
verified

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

Correct Answer
verified

Synergy analysis seeks opportunities by finding the optimum balance between

Correct Answer
verified

Correct Answer
verified

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as

Correct Answer
verified

List the three phases of the strategic marketing process and the output report for each.

Correct Answer
verified
(1) Planning is the first phase. Its out...
View Answer

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 its organizational structure?

Correct Answer
verified

The mathematical function that relates the expense of marketing effort to the marketing results obtained is referred to as

Correct Answer
verified

Marketing ROI (return on investment) uses modern measurement technologies to determine the results of

Correct Answer
verified

Toyota is generally acknowledged as the best in the world in revolutionizing the design and manufacture of autos. Toyota managers created the doctrine of kaizen, or

Correct Answer
verified

You have been told that a company increased its marketing effort from $3 million to $5 million, resulting in increased sales revenue from $10 million to $20 million. Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Correct Answer
verified

Market-based groupings are organizational groupings

Correct Answer
verified

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

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

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

Management experts call for a "bias for action." How can this attitude be important in marketing program implementation?

Correct Answer
verified
Management experts have concluded perfec...
View Answer

There are five alternative marketing strategies that can be identified by market-product grids: market-product concentration, market specialization, product specialization, selective specialization, and

Correct Answer
verified

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?

Correct Answer
verified

An action item list is

Correct Answer
verified

What is the difference between line and staff positions in a marketing organization?

Correct Answer
verified
People in line positions, such as group ...
View Answer

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

The strategic marketing process involves three phases: planning, implementation, and

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Synergy analysis seeks opportunities by finding the optimum balance between

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as

Correct AnswerverifiedShow Answer

List the three phases of the strategic marketing process and the output report for each.

Correct Answerverified(1) Planning is the first phase. Its out...View AnswerShow Answer

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 its organizational structure?

Correct AnswerverifiedShow Answer

The mathematical function that relates the expense of marketing effort to the marketing results obtained is referred to as

Correct AnswerverifiedShow Answer

Marketing ROI (return on investment) uses modern measurement technologies to determine the results of

Correct AnswerverifiedShow Answer

Toyota is generally acknowledged as the best in the world in revolutionizing the design and manufacture of autos. Toyota managers created the doctrine of kaizen, or

Correct AnswerverifiedShow Answer

You have been told that a company increased its marketing effort from $3 million to $5 million, resulting in increased sales revenue from $10 million to $20 million. Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Correct AnswerverifiedShow Answer

Market-based groupings are organizational groupings

Correct AnswerverifiedShow Answer

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

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

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

Management experts call for a "bias for action." How can this attitude be important in marketing program implementation?

Correct AnswerverifiedManagement experts have concluded perfec...View AnswerShow Answer

There are five alternative marketing strategies that can be identified by market-product grids: market-product concentration, market specialization, product specialization, selective specialization, and

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

An action item list is

Correct AnswerverifiedShow Answer

What is the difference between line and staff positions in a marketing organization?

Correct AnswerverifiedPeople in line positions, such as group ...View AnswerShow Answer

Correct Answer
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verified
(1) Planning is the first phase. Its out...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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verified
Management experts have concluded perfec...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
People in line positions, such as group ...
View Answer