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

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Question 81

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

A) corporate return on investment
B) revenues associated with each point of market share
C) trends for industry and competitors
D) possible cannibalization effects on other products in the line
E) organizational charts

F) A) and E)
G) B) and C)

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Question 82

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is the primary disadvantage of employing a product specialization strategy?

A) The organization may be spread too thin.
B) The organization achieves neither marketing nor manufacturing synergies.
C) R&D-manufacturing has the difficulty of producing multiple new lines.
D) There are too many product substitutes over which a firm would not have control.
E) Gaining market distribution will be costly.

F) C) and E)
G) A) and D)

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Question 83

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the marketing manager for Acme Products Inc.,you just became the new program leader for Baubles,a product Acme introduced last year.Initial sales far exceeded expectations.In response,the previous program leader decided to reduce the profit margins for channel members to more quickly recover the high costs incurred in the development of the Baubles product and its marketing program.Unfortunately,sales of Acme Baubles declined by 2 percent while its market share declined by 7 percent as new competitors entered the market.After conducting a customer survey,you concluded that customers were generally satisfied with Acme's Baubles.However,Baubles were not as readily accessible as they were the previous year.Furthermore,after conducting a survey among the leading wholesalers and retailers of Acme Baubles,you discovered they were not pleased with the reduced margins.Moreover,because Acme's principal competitors offered them greater margins,they gave the competitors' products better service and shelf space than Acme's.This is an example of

information needed for the marketing program,Step 3 of the planning phase,includes: (1) marketing mix actions and (2) __________.

Which output report is used in the implementation phase of the strategic marketing process?

matrix organization

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.

Management experts warn against the tendency to excessively analyze a problem instead of taking action.This problem is referred to as __________.

website introduces its Master Yogurt Maker,who is "an artisan armed with years of yogurt-making experience." This has helped the __________ company succeed with its __________ brand.

Hyundai Motor America (HMA) became the first automaker to offer consumers an Internet parts ordering system.The system was targeted only to current Hyundai owners and gave Hyundai the ability to collect a vast amount of customer data about people who buy its cars.Which of Porter's generic business strategies did Hyundai use when it launched its Internet parts website?

is the name of the tool shown in Figure 22-7 above that is the basis for the scheduling techniques used today in marketing and production?

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?

problems that emerge in a firm's strategic marketing process include: (1) bad news is filtered out as information goes up the line to give top management a very rosy picture; (2) plans are based on very poor assumptions about environmental forces; (3) __________; (4) too much time and effort may be spent on data collection and writing plans that are too complex to implement; and (5) line operating managers often feel no sense of ownership in implementing the plans.

is the primary disadvantage of employing a selective specialization strategy?

Marketing plans that cover marketing activities from two to five years into the future are referred to as __________.

basic business and management practices are important,according to researchers who studied more than 200 management tools and techniques.These are: (1) __________, (2) execution, (3) culture,and (4) structure.

using share points to make marketing resource allocation decisions,marketing managers must estimate: (1) the market share for the product, (2) the revenues associated with each point of market share, (3) __________,and (4) possible cannibalization effects on other products in the line.

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?

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 output metric?

is the primary disadvantage of employing a full coverage strategy?