Question 1

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 production 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) A) and E)
G) None of the above

Question 2

Figure 22-3
-a recent survey,responding firms reported that on average they used eight metrics to measure their innovation.Figure 22-3 above shows that among firms that use more than three different innovation metrics,they use two different kinds-output metrics and input metrics.Which of the following is an input metric?

Accepted Answer

A)   number of new products or services launched
B)   R&D spending as a percentage of sales
C)   return on assets (RO
A)   in the pipeline
D)   customer satisfaction with new products or services
E)   revenue growth due to new products or servicesF) None of the above
G) B) and C)

Question 3

marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Accepted Answer

A)   deviations that result from major shifts in customer needs
B)   actual results exceed goals
C)   there are no deviations but there should be
D)   deviations that result from executive mandates
E)   deviations that are blamed on insufficient marketing support (personnel or funding) F) B) and E)
G) A) and D)

Question 4

Delphi Automobile Systems manufacturers and sells satellite communications systems for automobiles that connect you and your car to 24-hour-a-day emergency service,direct you to a destination,and enable you to order a movie while on the road.Because of the unique services it provides,it charges a higher price than its competitors.Delphi Automobile Systems is using a(n) __________.

Accepted Answer

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

Question 5

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)   delayering the organization.
E)   conducting regular debriefing meetings to keep everyone aware of what was going on.F) A) and B)
G) B) and D)

Question 6

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) A) and D)
G) A) and E)

Question 7

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 target segments and product groupings
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) A) and E)
G) A) and C)

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 development
D)   selective marketing
E)   new product specializationF) A) and E)
G) C) and D)

Question 9

Managers who have the authority and responsibility to issue orders to people who report to them are referred to as __________.

Accepted Answer

A)   executive marketing officers
B)   staff positions
C)   stakeholders
D)   line positions
E)   program championsF) A) and B)
G) A) and C)

Question 10

& Jerry's Homemade,Inc.is a profitable company that has a reputation for quality.The company is committed to treating its employees fairly and acting ethically in all transactions.It seeks to purchase all of its supplies from socially responsible suppliers.It is a leader in protecting the environment and corporate philanthropy.Ben & Jerry's uses __________.

Accepted Answer

A)   a value-driven strategy
B)   marketing ROI
C)   value analyses
D)   value-based planning
E)   value-added marketingF) All of the above
G) D) and E)

Question 11

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

Accepted Answer

A)   action memos to correct problems and exploit opportunities
B)   charts 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 lineF) B) and D)
G) B) and E)

Question 12

way to improve implementation is to communicate goals and the means of achieving them.At Papa John's,everyone is made aware of the firm's core values.For example,core value #4 is "PAPA," which stands for __________.

Accepted Answer

A)   "Practice Always for Perfect Achievement"
B)   "People Are Priority No.1, Always"
C)   "Practice and Practice Again"
D)   "Planning Always Produces Achievement"
E)   "Prepare and Perform Accurately"F) None of the above
G) C) and E)

Question 13

Developing a program schedule 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) __________.

Accepted Answer

A)   selecting a product champion
B)   assigning people the responsibilities to complete each task
C)   defining specific market segments
D)   creating marketing metrics to evaluate the results
E)   scheduling a follow-up meeting to evaluate the resultsF) A) and C)
G) B) and C)

Question 14

information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1) market potential studies, (2) market-product grids with target segments and product groupings,and (3) __________.

Accepted Answer

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

Question 15

Market-based groupings refer to organizational groupings

Accepted Answer

A)   based on 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) B) and D)
G) C) and D)

Question 16

key to all scheduling techniques is to

Accepted Answer

A)   avoid scheduling tasks that can be done concurrently.
B)   avoid tasks that must be done sequentially.
C)   make sure to allow a 20 percent delay factor to account for contingencies.
D)   assign responsibility for end results to the entire group rather than a single individual.
E)   distinguish tasks that must be done sequentially from those which can be done concurrently.F) C) and D)
G) A) and B)

Question 17

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
D)   director of sales
E)   marketing directorF) A) and B)
G) B) and E)

Question 18

According to Porter's framework regarding generic business strategy,there are two fundamental alternatives a firm can use to seek a competitive advantage.One of these is to

Accepted Answer

A)   become the high-cost producer within the markets it competes and using a skimming pricing strategy to recoup these high R&D expenses.
B)   adopt a "me too" strategy to achieve competitive parity.
C)   become the low-cost producer within the markets in which it competes.
D)   state its function in society to differentiate itself from competitors.
E)   differentiate itself from competitors by developing similar marketing programs.F) C) and E)
G) B) and C)

Question 19

firm following a differentiation focus strategy shown in Figure 22-4 above would be found in

Accepted Answer

A)   "A"
B)   "B"
C)   "C"
D)   "D"
E)   both "B" and "D"F) A) and C)
G) B) and E)

Question 20

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

Accepted Answer

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

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

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

Correct Answer
verified

marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Correct Answer
verified

information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1) market potential studies, (2) market-product grids with target segments and product groupings,and (3) __________.

Correct Answer
verified

Market-based groupings refer to organizational groupings

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

Correct Answer
verified

way to improve implementation is to communicate goals and the means of achieving them.At Papa John's,everyone is made aware of the firm's core values.For example,core value #4 is "PAPA," which stands for __________.

Correct Answer
verified

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

Correct Answer
verified

firm following a differentiation focus strategy shown in Figure 22-4 above would be found in

Correct Answer
verified

Correct Answer
verified

Managers who have the authority and responsibility to issue orders to people who report to them are referred to as __________.

Correct Answer
verified

Developing a program schedule 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) __________.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

According to Porter's framework regarding generic business strategy,there are two fundamental alternatives a firm can use to seek a competitive advantage.One of these is to

Correct Answer
verified

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

key to all scheduling techniques is to

Correct Answer
verified

Marketing ROI (return on investment) refers to

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

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

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

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

Correct AnswerverifiedShow Answer

marketing manager looks for two kinds of deviations,each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Correct AnswerverifiedShow Answer

information needed in market product focus and goal setting,Step 2 of the planning phase includes: (1) market potential studies, (2) market-product grids with target segments and product groupings,and (3) __________.

Correct AnswerverifiedShow Answer

Market-based groupings refer to organizational groupings

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

Correct AnswerverifiedShow Answer

way to improve implementation is to communicate goals and the means of achieving them.At Papa John's,everyone is made aware of the firm's core values.For example,core value #4 is "PAPA," which stands for __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

firm following a differentiation focus strategy shown in Figure 22-4 above would be found in

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Managers who have the authority and responsibility to issue orders to people who report to them are referred to as __________.

Correct AnswerverifiedShow Answer

Developing a program schedule 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) __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

According to Porter's framework regarding generic business strategy,there are two fundamental alternatives a firm can use to seek a competitive advantage.One of these is to

Correct AnswerverifiedShow 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

key to all scheduling techniques is to

Correct AnswerverifiedShow Answer

Marketing ROI (return on investment) refers to

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

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

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