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

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Question 51

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Porter's four generic business strategies are differentiation,__________,differentiation focus,and cost leadership.

A) cost focus
B) diversification
C) service leadership
D) quality leadership
E) competition-focus

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Question 52

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

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."

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Question 53

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A recent study showed that firms used two different kinds of metrics when analyzing performance on innovation and new product development.These consist of output and input metrics.Which of the following is an input metric?

The information needed for the implementation phase of the strategic marketing process includes: (1) __________; (2) organizational charts;and (3) marketing research reports.

The essence of marketing evaluation is (1) comparing results with planned goals to identify deviations and (2) __________.

A generic business strategy refers to a strategy that

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

One of Porter's generic business strategies that involves controlling expenses and,in turn,lowering product prices targeted at a narrow range of markets segments is referred to as a __________ strategy.

__________ output report would be associated with the planning phase of the strategic marketing process.

One of Porter's four generic business strategies requires that products to have significant points of difference to target one or only a few market segments is referred to as a __________ strategy.

Lockheed's Skunk Works is a leader in delivering world-class aircraft.About 50 engineers and designers and 100 expert machinists closely follow this guideline for organizational structure and implementation: use a small number of good people who

Four basic business and management practices are what matter-"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques.These are: (1) strategy; (2) execution; (3) culture;and (4) __________.

Consider Figure 22-8: General Mills Marketing Dashboard Chart "C" above.As part of the Warm Delights marketing team at General Mills,you are asked to analyze and interpret the marketing dashboard for Warm Delights Minis.After a careful analysis of Chart "C," you are especially interested in the major changes that occurred from November to December.As a result,you would look most carefully at

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.

Which of the following pieces of information is used in the development of the marketing program,the third step of the planning phase of the strategic marketing process?

Which of the following statements about the four basic business and management practices that researchers identified is most accurate?

In Porter's generic business strategies shown in Figure 22-3 above,"C" refers to a __________ strategy.

Consider Figure 22-8: General Mills Marketing Dashboard Chart "B" above.As part of the Warm Delights marketing team at General Mills,you are asked to analyze and interpret the marketing dashboard for Warm Delights Minis.After a careful analysis of Chart "B," you conclude the following:

Consider Figure 22-A above.Effective managers track the progress of their marketing plans to identify problems that need to be corrected.Sometimes,the problems are with the marketing plan and its strategies;at other times,they may be due to their implementation;and at still other times,they may be due to both.Recall that research on what really works shows that successful firms have excellence on both the planning and strategy side and the implementation or execution side.As Figure 22-A shows,marketers can develop and implement strategies that have four possible results.For "C," identify the MOST LIKELY result of the planning and implementation of the marketing plan and its strategies for a product or service.

When using share points to make marketing resource allocation decisions,marketing managers must estimate: (1) __________; (2) the revenues associated with each point of market; (3) the contribution to overhead and profit (or gross margin) of each share point;and (4) possible cannibalization effects on other products in the line.