Question 1

An organizational structure that is based on specific customer segments, such as the banking, health care, or manufacturing segments, is using:

Accepted Answer

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

Question 2

Setting up an organizational chart would most likely to occur during which phase of the strategic marketing process?

Accepted Answer

A)  assessment
B)  implementation
C)  planning
D)  resourcingE) A) and B)
F) A) and C)

Question 3

Reference: 19-02
TB Figure 1
 
-Referring to TB Figure 1, each phase of the strategic marketing process creates its own unique type of output report. Which of the following would be associated with the evaluation phase?

Accepted Answer

A)  Sales reports using the firm's product metrics and dashboards.
B)  Corrective action memos, triggered by comparing results with plans often using the firm's marketing metrics and dashboards.
C)  Performance reviews for key personnel.
D)  Action memos that tell (1) who is (2) to do what (3) by when.E) None of the above
F) A) and B)

Question 4

EasyJet and Ryanair, two European airlines have been successful in offering low fares between certain cities in Europe. These two airlines likely use which strategy?

Accepted Answer

A)  cost focus
B)  differentiation focus
C)  revenue leadership
D)  differentiationE) A) and B)
F) None of the above

Question 5

The 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
Targets, and 3) ________.

Accepted Answer

A)  trends for industry and competitors
B)  detailed plans to execute the marketing program
C)  positioning studies
D)  marketing mix actionsE) B) and D)
F) A) and B)

Question 6

Program schedules are described by all of the following statements, except:

Accepted Answer

A)  show the relationships through time of the various tasks to be accomplished.
B)  require that sequential and concurrent tasks be identified.
C)  are similar to program item lists.
D)  can be done using Gantt charts.E) B) and D)
F) B) and C)

Question 7

With advancing mobile and social technologies, describe the job description for a Chief Marketing Officer in 2020.

Accepted Answer

In 2020, the job description for a Chief...

Question 8

Which statement best reflects the advice given by management experts regarding the tendency to excessively analyze a problem?

Accepted Answer

A)  Better to ask forgiveness than permission.
B)  Try a "do it, fix it, try it," approach.
C)  If a problem arises, assemble a committee of the appropriate people to solve it.
D)  Don't put a product on the market until it's perfect.E) None of the above
F) A) and B)

Question 9

All of the following are goals of the marketing ROI concept except:

Accepted Answer

A)  reduce marketing spending
B)  quantify marketing spending
C)  optimize marketing spending
D)  understand marketing spendingE) A) and B)
F) All of the above

Question 10

Management experts warn against the tendency to excessively analyze a problem instead of taking action. This problem is called:

Accepted Answer

A)  letting sleeping dogs lie.
B)  dumb and dumber.
C)  fits and starts.
D)  paralysis by analysis.E) A) and B)
F) C) and D)

Question 11

When John's Auto Shop merged with Mike's Glass Repair, customers received discounts at both businesses, while at the corporate level, the new company saw an overall increase in sales. These benefits are referred to as:

Accepted Answer

A)  Points of difference
B)  Synergies
C)  Value-adds
D)  Value-based marketingE) A) and B)
F) All of the above

Question 12

A firm following a differentiation strategy would be found in n Figure 19-4.

Accepted Answer

A)  quadrant A
B)  quadrant B
C)  quadrant C
D)  quadrant DE) None of the above
F) C) and D)

Question 13

A new manager at Whirlpool creates a plan for each major product line (large appliance and small appliance) to execute in the following year. This plan is likely a(n) :

Accepted Answer

A)  product line plan
B)  recurring marketing plan
C)  annual marketing plan
D)  short term planE) B) and C)
F) None of the above

Question 14

Reference: 19-04
Figure 19-6
 
-In Figure 19-6, the box labeled "B" illustrates which of the following market-product strategies?

Accepted Answer

A)  Full coverage
B)  Product specialization
C)  Market specialization
D)  Selective specializationE) C) and D)
F) A) and C)

Question 15

After making luxury 150 foot yachts for five years, this company decides to offer 50 foot and 200 foot versions. The competition would view this strategy as:

Accepted Answer

A)  selective specialization
B)  product specialization
C)  market specialization
D)  full coverageE) A) and D)
F) C) and D)

Question 16

A breakdown of the hierarchy of roles, who reports to who, who manages who, and the overall chain of command is referred to as a(n) :

Accepted Answer

A)  arrangement chart
B)  positioning chart
C)  organizational charts
D)  people chartE) A) and B)
F) All of the above

Question 17

The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: 1) ________, 2) market-product grids with targets, and 3) 
Positioning studies.

Accepted Answer

A)  market potential studies
B)  detailed plans to execute the marketing program
C)  trends for industry and competitors
D)  marketing mix actionsE) A) and D)
F) None of the above

Question 18

With the exception of such industries as autos, steel, or forest products, most long-range plans cover a period of:

Accepted Answer

A)  2 to 5 years.
B)  1 year.
C)  6 to 8 months.
D)  5 to 10 years.E) B) and D)
F) A) and D)

Question 19

General Mills uses strategic marketing to succeed in a competitive market where costs are increasing and:

Accepted Answer

A)  social media is expanding.
B)  food regulations are becoming stricter.
C)  consumer tastes are changing.
D)  global competitors are merging.E) A) and B)
F) None of the above

Question 20

The BCG or Boston Consulting Group is probably best known for its:

Accepted Answer

A)  focus on Hugo's Ski Shack which rents water skis to vacationers.
B)  growth-share portfolio matrix.
C)  website which offers planning guidelines and interactive strategy case.
D)  stands on ethical issues.E) None of the above
F) All of the above

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

Setting up an organizational chart would most likely to occur during which phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

With advancing mobile and social technologies, describe the job description for a Chief Marketing Officer in 2020.

Correct AnswerAnswered by ExamLex AIIn 2020, the job description for a Chief...View AnswerShow Answer

Program schedules are described by all of the following statements, except:

Correct AnswerverifiedShow Answer

A new manager at Whirlpool creates a plan for each major product line (large appliance and small appliance) to execute in the following year. This plan is likely a(n) :

Correct AnswerverifiedShow Answer

The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: 1) ________, 2) market-product grids with targets, and 3) Positioning studies.

Correct AnswerverifiedShow Answer

A firm following a differentiation strategy would be found in n Figure 19-4.

Correct AnswerverifiedShow Answer

After making luxury 150 foot yachts for five years, this company decides to offer 50 foot and 200 foot versions. The competition would view this strategy as:

Correct AnswerverifiedShow Answer

The BCG or Boston Consulting Group is probably best known for its:

Correct AnswerverifiedShow Answer

A breakdown of the hierarchy of roles, who reports to who, who manages who, and the overall chain of command is referred to as a(n) :

Correct AnswerverifiedShow Answer

All of the following are goals of the marketing ROI concept except:

Correct AnswerverifiedShow Answer

With the exception of such industries as autos, steel, or forest products, most long-range plans cover a period of:

Correct AnswerverifiedShow Answer

When John's Auto Shop merged with Mike's Glass Repair, customers received discounts at both businesses, while at the corporate level, the new company saw an overall increase in sales. These benefits are referred to as:

Correct AnswerverifiedShow Answer

Reference: 19-02 TB Figure 1 -Referring to TB Figure 1, each phase of the strategic marketing process creates its own unique type of output report. Which of the following would be associated with the evaluation phase?

Correct AnswerverifiedShow Answer

General Mills uses strategic marketing to succeed in a competitive market where costs are increasing and:

Correct AnswerverifiedShow Answer

The 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 Targets, and 3) ________.

Correct AnswerverifiedShow Answer

Management experts warn against the tendency to excessively analyze a problem instead of taking action. This problem is called:

Correct AnswerverifiedShow Answer

Reference: 19-04 Figure 19-6 -In Figure 19-6, the box labeled "B" illustrates which of the following market-product strategies?

Correct AnswerverifiedShow Answer

An organizational structure that is based on specific customer segments, such as the banking, health care, or manufacturing segments, is using:

Correct AnswerverifiedShow Answer

EasyJet and Ryanair, two European airlines have been successful in offering low fares between certain cities in Europe. These two airlines likely use which strategy?

Correct AnswerverifiedShow Answer

Which statement best reflects the advice given by management experts regarding the tendency to excessively analyze a problem?

Correct AnswerverifiedShow Answer

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