Question 1

You have been told that a company increased its marketing effort from $2 million to $5 million,resulting in increased sales revenue from $12 million to $21 million.Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Accepted Answer

A)  3:1
B)  1:3
C)  8:5
D)  5:2
E)  21:12F) B) and C)
G) A) and E)

Question 2

What are the advantages and disadvantages of the product manager system?

Accepted Answer

There are both benefits and dangers to t...

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)  a time-based agenda and an action item list
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 C)
G) A) and D)

Question 4

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 in terms of operational execution?

Accepted Answer

A)  Costco
B)  Smucker's
C)  Sears
D)  Groupon
E)  ToyotaF) A) and B)
G) A) and C)

Question 5

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent,delicious,and gooey dessert.They wanted all of the following characteristics in the dessert except which?

Accepted Answer

A)  no cleanup
B)  a single portion
C)  quick preparation
D)  consistent great taste
E)  priced below its competitionF) A) and E)
G) C) and E)

Question 6

Loving Care Pets manufactures food for dogs,cats,rabbits,and gerbils specifically created for pets under three months of age.Assuming it is marketing a variety of offerings 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) All of the above
G) C) and D)

Question 7

All of the following are basic tenets or axioms voiced by Kelly Johnson of Lockheed Martin's Skunk Works except which?

Accepted Answer

A)  "Failure just leads you to the next great thing."
B)  "When trouble develops,surface the problem immediately."
C)  "Avoid paralysis by analysis."
D)  "Get help-don't keep the problem to yourself."
E)  "Make decisions promptly."F) C) and D)
G) A) and D)

Question 8

The actions taken during market product focus and goal setting,Step 2 of the planning phase,include

Accepted Answer

A)  identifying industry trends.
B)  researching customers.
C)  setting market and product goals.
D)  developing the program's marketing mix.
E)  developing the budget by estimating revenues,expenses,and profits.F) B) and D)
G) D) and E)

Question 9

The application of modern measurement technologies to understand,quantify,and optimize marketing spending is referred to as

Accepted Answer

A)  situation analysis.
B)  strategic marketing analysis.
C)  marketing ROA (return on assets) .
D)  marketing ROI (return on investment) .
E)  marketing response evaluation.F) All of the above
G) C) and D)

Question 10

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 11

Ideally,in effective marketing planning,goals should be ________ in terms of what is to be accomplished and by when.

Accepted Answer

A)  consistent and straightforward
B)  general and somewhat flexible
C)  easily adaptive to changes in the environment
D)  very specific and unwavering
E)  quantified and measurableF) D) and E)
G) B) and C) E

Question 12

Share points are

Accepted Answer

A)  the ratio of sales revenue of the firm to the total sales costs.
B)  the percentage points of market share used as the common basis of comparison.
C)  the sales revenue generated by different products within the firm expressed as a percentage.
D)  a measure of the quantitative value or trend of a marketing activity or result divided by the total marketing effort of the firm.
E)  the total number of a product sold in one year compared to the cumulative total sold since its introduction,expressed as a percentage.F) A) and B)
G) A) and C) B

Question 13

The information needed for the marketing program,Step 3 of the planning phase,includes

Accepted Answer

A)  positioning studies.
B)  market-product grids with targets.
C)  detailed plans to execute the marketing program.
D)  projected future sales,expenses,and profits.
E)  trends for industry and competitors.F) A) and E)
G) C) and D)

Question 14

Many large,packaged goods marketers like Procter & Gamble,Kraft,and Pillsbury have used the product manager (or brand manager) system of marketing organization and implementation.Which of the following is the key advantage of this system?

Accepted Answer

A)  Product managers have relatively little authority.
B)  Product managers are short-term in their orientation.
C)  Product managers have direct responsibility for research and development of new products.
D)  Product managers can assume profit-and-loss responsibility for the performance of the product line.
E)  Product managers have line responsibility over sales managers.F) C) and E)
G) A) and B)

Question 15

For Campbell's,the annual planning cycle typically starts with a detailed marketing research study of current users and ends after ________ weeks with the approval of the plan by the division general manager.

Accepted Answer

A)  26
B)  32
C)  42
D)  48
E)  50F) B) and D)
G) C) and D)

Question 16

Delphi Automobile Systems manufactures 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.Delphi Automobile Systems most likely uses

Accepted Answer

A)  a cost leadership strategy.
B)  a cost focus strategy.
C)  a differentiation focus strategy.
D)  an innovation strategy.
E)  a differentiation strategy.F) A) and C)
G) None of the above

Question 17

Organizational groupings based on specific customer segments are referred to as

Accepted Answer

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

Question 18

Each phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

Accepted Answer

A)  performance reviews for key personnel
B)  corrective action memos,triggered by comparing results with plans,often from the firm's marketing dashboards and metrics
C)  sales reports using the firm's marketing metrics and dashboards
D)  action memos that tell who is to do what by when
E)  marketing plans that define goals with the pertinent marketing metrics and the marketing mix strategies to achieve themF) A) and B)
G) All of the above

Question 19

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

Accepted Answer

People in line positions,such as group m...

Question 20

The reformulation of the original less sweet,more bitter Coca-Cola (now Coca-Cola Classic) into a new sweeter one (eventually called New Coke) was one of the biggest decisions in the firm's history.Coca-Cola was responding to Pepsi's gain in market share with its sweeter formulation and its Pepsi Challenge taste tests and commercials.New Coke replaced "old Coke" on supermarket shelves.Loyal Coke customers were incensed that "old Coke" was discontinued.They loved the taste and brand identity of "old Coke" and rebelled against New Coke.TV and print ads designed to persuade Coke and Pepsi drinkers to switch to New Coke were ineffective.After a short time,Coca-Cola reintroduced old Coke as Coca-Cola Classic and withdrew New Coke from the market.The launch of New Coke is an example of

Accepted Answer

A)  good planning and good implementation.
B)  good planning and poor implementation.
C)  poor planning and good implementation.
D)  poor planning and poor implementation.
E)  poor evaluation.F) C) and D)
G) A) and E)

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

You have been told that a company increased its marketing effort from $2 million to $5 million,resulting in increased sales revenue from $12 million to $21 million.Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Correct Answer
verified

What are the advantages and disadvantages of the product manager system?

Correct Answer
verified
There are both benefits and dangers to t...
View Answer

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

Correct Answer
verified

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 in terms of operational execution?

Correct Answer
verified

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent,delicious,and gooey dessert.They wanted all of the following characteristics in the dessert except which?

Correct Answer
verified

Correct Answer
verified

All of the following are basic tenets or axioms voiced by Kelly Johnson of Lockheed Martin's Skunk Works except which?

Correct Answer
verified

The actions taken during market product focus and goal setting,Step 2 of the planning phase,include

Correct Answer
verified

The application of modern measurement technologies to understand,quantify,and optimize marketing spending is referred to as

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

Ideally,in effective marketing planning,goals should be ________ in terms of what is to be accomplished and by when.

Correct Answer
verified
E

Share points are

Correct Answer
verified
B

The information needed for the marketing program,Step 3 of the planning phase,includes

Correct Answer
verified

Many large,packaged goods marketers like Procter & Gamble,Kraft,and Pillsbury have used the product manager (or brand manager) system of marketing organization and implementation.Which of the following is the key advantage of this system?

Correct Answer
verified

For Campbell's,the annual planning cycle typically starts with a detailed marketing research study of current users and ends after ________ weeks with the approval of the plan by the division general manager.

Correct Answer
verified

Delphi Automobile Systems manufactures 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.Delphi Automobile Systems most likely uses

Correct Answer
verified

Organizational groupings based on specific customer segments are referred to as

Correct Answer
verified
E

Each phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

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 m...
View Answer

Correct Answer
verified

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

You have been told that a company increased its marketing effort from $2 million to $5 million,resulting in increased sales revenue from $12 million to $21 million.Calculate the company's ratio of incremental sales revenue to incremental marketing effort.

Correct AnswerverifiedShow Answer

What are the advantages and disadvantages of the product manager system?

Correct AnswerverifiedThere are both benefits and dangers to t...View AnswerShow Answer

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

Correct AnswerverifiedShow 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 in terms of operational execution?

Correct AnswerverifiedShow Answer

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent,delicious,and gooey dessert.They wanted all of the following characteristics in the dessert except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are basic tenets or axioms voiced by Kelly Johnson of Lockheed Martin's Skunk Works except which?

Correct AnswerverifiedShow Answer

The actions taken during market product focus and goal setting,Step 2 of the planning phase,include

Correct AnswerverifiedShow Answer

The application of modern measurement technologies to understand,quantify,and optimize marketing spending is referred to as

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

Ideally,in effective marketing planning,goals should be ________ in terms of what is to be accomplished and by when.

Correct AnswerverifiedE

Share points are

Correct AnswerverifiedB

The information needed for the marketing program,Step 3 of the planning phase,includes

Correct AnswerverifiedShow Answer

Many large,packaged goods marketers like Procter & Gamble,Kraft,and Pillsbury have used the product manager (or brand manager) system of marketing organization and implementation.Which of the following is the key advantage of this system?

Correct AnswerverifiedShow Answer

For Campbell's,the annual planning cycle typically starts with a detailed marketing research study of current users and ends after ________ weeks with the approval of the plan by the division general manager.

Correct AnswerverifiedShow Answer

Delphi Automobile Systems manufactures 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.Delphi Automobile Systems most likely uses

Correct AnswerverifiedShow Answer

Organizational groupings based on specific customer segments are referred to as

Correct AnswerverifiedE

Each phase of the strategic marketing process creates its own unique type of output report.Which of the following would be associated with the implementation phase?

Correct AnswerverifiedShow Answer

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

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified
There are both benefits and dangers to t...
View Answer

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

Correct Answer
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E

Correct Answer
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B

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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E

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

Correct Answer
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