Question 1

Organizational groupings in which sales territories are subdivided according to location are referred to as

Accepted Answer

A)  functional groupings.
B)  reseller groupings.
C)  geographical groupings.
D)  product line groupings.
E)  market-based groupings.F) All of the above
G) None of the above

Question 2

In a five-year study,researchers conducted in-depth analysis of 160 companies and more than 200 management tools and techniques.What was their principal finding?

Accepted Answer

A)  Supply chain management was the most critical element in stellar business performance.
B)  Customer relationship management was more effective than product development.
C)  The Internet was more effective in terms of long-term sales success than the use of retail outlets or direct marketing tactics such as catalogs.
D)  Three major management tools-supply chain management,customer relationship management,and the use of an intranet-were equally beneficial in terms of business performance.
E)  Individual management tools and techniques had no direct relationship to superior business performance in the companies that were studied.F) B) and C)
G) A) and B)

Question 3

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) B) and C)
G) All of the above

Question 4

Functional 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 market-based groupings with product groupings.F) B) and D)
G) B) and E)

Question 5

To overcome the problem that occurs during product development when consumers say one thing in a market research study and do another when facing a supermarket shelf,the Warm Delights team ran marketing experiments that involved all of the following except which?

Accepted Answer

A)  measuring the results of the Warm Delights experiments
B)  repeating the Warm Delights marketing experimentation process
C)  testing colorful microwaveable trays for heating
D)  putting a Warm Delights prototype dessert in a store
E)  improving the Warm Delights prototypeF) A) and D)
G) A) and C)

Question 6

Which of the following is one of Porter's four generic business strategies?

Accepted Answer

A)  exclusivity
B)  quality focus
C)  differentiation
D)  geographic span
E)  service leadershipF) A) and C)
G) All of the above

Question 7

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 is referred to as a entrepreneurial divisions.

Accepted Answer

A)  PERT chart.
B)  program schedule.
C)  Gantt chart.
D)  time-based agenda.
E)  action-item list.F) None of the above
G) All of the above

Question 8

List and explain two types of marketing plans.

Accepted Answer

Long-range marketing plans cover marketi...

Question 9

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) B) and C)
G) C) and E)

Question 10

U.S.Navy Admiral Grace Murray Hopper gave famous advice that a program champion should follow when cutting through an organization's red tape:

Accepted Answer

A)  Implement a do it,fix it,try it" approach.
B)  Take a "go and see" approach.
C)  "Avoid paralysis by analysis."
D)  Have a "bias for action."
E)  "Better to ask forgiveness than permission."F) A) and B)
G) None of the above

Question 11

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) C) and E)
G) B) and C)

Question 12

What is the primary disadvantage of employing a selective specialization strategy?

Accepted Answer

A)  Gaining market distribution will be costly.
B)  The organization may be spread too thin.
C)  The organization achieves neither marketing nor manufacturing synergies.
D)  R&D-manufacturing has the difficulty of producing multiple new lines.
E)  It is too risky for a company to put all its eggs in one basket.F) C) and D)
G) All of the above

Question 13

A company that uses an organizational structure based on "Dinner Products" or "Baked Goods" uses

Accepted Answer

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

Question 14

Which of the following output reports is used in the evaluation phase of the strategic marketing process?

Accepted Answer

A)  marketing plans that define goals
B)  action memos that tell who is to do what
C)  action memos that tell who is to do what by when
D)  trend reports
E)  corrective action memosF) A) and B)
G) A) and C)

Question 15

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

Question 16

The actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include which of the following?

Accepted Answer

A)  set market and product goals
B)  select target markets
C)  find points of difference
D)  position the product
E)  assess your own companyF) A) and B)
G) A) and D)

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)  Home Depot
C)  Lockheed Martin's Skunk Works
D)  Coca-Cola
E)  IBMF) B) and D)
G) A) and B)

Question 18

Successful implementation often lies in fostering a work environment that is characterized by all of the following except which?

Accepted Answer

A)  fostering open communications
B)  rewarding success
C)  communicating goals and the means to achieve them
D)  using time-based agendas
E)  making employees accountable for failureF) C) and D)
G) None of the above

Question 19

A program champion is

Accepted Answer

A)  a person who is willing and able to "cut the red tape" to move a program forward.
B)  the person within an organization who is assigned the responsibility of taking a program from conception to deletion.
C)  a person in an organization who is the "product figurehead" for a new-product development cross-functional team.
D)  a sports figure or celebrity,who serves as a company spokesperson for a new product.
E)  a single product within the product line that carries the other products in the line "on its back."F) C) and D)
G) A) and D)

Question 20

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 a devising and maintaining a "clearly stated,focused strategy"?

Accepted Answer

A)  Costco
B)  Sears
C)  Lululemon
D)  Smucker's
E)  GrouponF) All of the above
G) A) and B)

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

In a five-year study,researchers conducted in-depth analysis of 160 companies and more than 200 management tools and techniques.What was their principal finding?

Correct AnswerverifiedShow Answer

To overcome the problem that occurs during product development when consumers say one thing in a market research study and do another when facing a supermarket shelf,the Warm Delights team ran marketing experiments that involved all of the following except which?

Correct AnswerverifiedShow Answer

List and explain two types of marketing plans.

Correct AnswerverifiedLong-range marketing plans cover marketi...View AnswerShow Answer

A company that uses an organizational structure based on "Dinner Products" or "Baked Goods" uses

Correct AnswerverifiedShow Answer

Successful implementation often lies in fostering a work environment that is characterized by all of the following except which?

Correct AnswerverifiedShow Answer

A program champion is

Correct AnswerverifiedShow Answer

U.S.Navy Admiral Grace Murray Hopper gave famous advice that a program champion should follow when cutting through an organization's red tape:

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

Organizational groupings in which sales territories are subdivided according to location are referred to as

Correct AnswerverifiedShow Answer

An action item list is

Correct AnswerverifiedShow Answer

Which of the following output reports is used in the evaluation phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

Functional groupings are organizational groupings

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 based on a devising and maintaining a "clearly stated,focused strategy"?

Correct AnswerverifiedShow Answer

The actions taken in a situation (SWOT) analysis or Step 1 of the planning phase include which of the following?

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

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

Which of the following is one of Porter's four generic business strategies?

Correct AnswerverifiedShow Answer

What is the primary disadvantage of employing a selective specialization strategy?

Correct AnswerverifiedShow Answer

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 is referred to as a entrepreneurial divisions.

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 based on its organizational structure?

Correct AnswerverifiedShow Answer

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