Deck 1: What Do Winning Organizations Do Well

Question 1

Snap-on Tools provides their customers with flexible financing mechanisms to help pay for an expensive tool.This is an example of a

A)product strategy.
B)channel strategy.
C)marketing communications strategy.
D)sales execution strategy.
E)pricing strategy.

Answer 1

E

Question 2

To avoid direct competition with Wal-Mart's low price strategy,Kmart decided to go upscale by making deals with Martha Stewart.This marketing strategy failed because

A)of Kmart's store locations.
B)it was unclear and confused customers.
C)of its laser-like focus.
D)of a lack of advertising.
E)of Martha Stewart's public relations problems.

Answer 2

B

Question 3

The very first step in the marketing process is

A)creating customer value.
B)reviewing customer segments.
C)developing a marketing communications strategy.
D)managing customer value.
E)understanding customer needs.

Answer 3

E

Question 4

In order to deliver the value created for the customer,marketing strategies have to be translated into

A)sales strategies.
B)customer segmentation strategies.
C)a product mix review.
D)pricing strategies.
E)channel strategies.

Question 5

Recognizing different sets or groups of customers based on their needs is called

A)market segmentation.
B)cross-functional alignment.
C)customer satisfaction measurement.
D)channel strategy.
E)sales execution.

Question 6

Typical problems faced by for-profit organizations include

A)customers becoming less price-sensitive.
B)an influx of high-priced competitors.
C)building an organization where everyone is focused on the customer.
D)lack of funding from donors.
E)fewer media channels.

Question 7

Both advertising and selling are tools used by ____________ to accomplish certain goals.

A)the customer
B)the end-user
C)a media planner
D)a marketing strategist
E)administrative personnel

Question 8

Hiring professionals (such as painters and carpenters)to sell goods and offer advice to customers in their stores is an example of Home Depot's

A)advertising and personal selling.
B)streamlined operations.
C)strategy and execution.
D)competitive position.
E)profit-sharing plan.

Question 9

Researchers have found that the top two factors that account for a company's success over its competitors are

A)strategy and execution.
B)market share and budget.
C)competition and shareholder return.
D)advertising and personal selling.
E)timing and location.

Question 10

Typical problems faced by non-profit organizations include

A)increasing awareness of the brand.
B)avoiding partnerships with for-profit organizations.
C)executing customer service strategies.
D)devising a marketing strategy.
E)fewer media channels.

Question 11

The marketing mix includes

A)advertising,public relations,and sales execution strategies.
B)segment,customer,and product mix strategies.
C)product,price,channel,and marketing communications strategies.
D)research,marketing communications,and customer segment strategies.
E)cross-functional segment and sales execution strategies.

Question 12

Companies that succeed over their competitors begin with a simple value proposition that is based on

A)marketing research.
B)financial objectives.
C)competitive activity.
D)a deep understanding of their customers.
E)total shareholder return.

Question 13

Snap-on Tools' commitment to serve the needs of the auto mechanic,foregoing the needs of other customers such as home builders and hobbyists,is an example of

A)a product strategy.
B)target marketing.
C)sales execution.
D)cross-functional alignment.
E)product mix review.

Question 14

Despite the fact that Snap-on Tools charges price premiums and doesn't spend any money on traditional advertising,the company is successful because

A)its one-on-one relationship building differentiates it from its competitors.
B)of its numerous retail locations.
C)its products attract a wider audience.
D)its products are available through Sears stores.
E)of its superior warranty.

Question 15

Marketing strategies are implemented by functions such as

A)planning.
B)estimating.
C)research.
D)shipping.
E)procurement.

Question 16

The "understand-create-deliver-manage customer value" marketing process is captured in a strategic document called the

A)marketing plan.
B)market segmentation plan.
C)marketing communications plan.
D)sales execution plan.
E)media plan.

Question 17

The second step in the marketing process is

A)creating customer value.
B)reviewing customer segments.
C)developing a marketing communications strategy.
D)managing customer value.
E)understanding customer needs.

Question 18

If a retailer makes customer service a strategic priority and front-line staff forget to smile or wish all customers a good day,this is an example of

A)poor execution of a marketing strategy.
B)a growth strategy.
C)an orientation strategy.
D)a public relations strategy.
E)a sales strategy.

Question 19

The third step in the marketing process is

A)creating customer value.
B)reviewing customer segments.
C)delivering customer value.
D)managing customer value.
E)understanding customer needs.

Question 20

Marketing can be defined as

A)the development and execution of superior strategies.
B)a disciplined process used by organizations to solve problems.
C)advertising and sales.
D)product development and distribution.
E)customer relationship-building strategies.

Question 21

It is the task of marketing to be the ___________ within the organization.

A)product analyst
B)financial controller
C)voice of the customer
D)research and development champion
E)salesperson

Question 22

Market segmentation efforts,target marketing,and brand building all offer a competitive advantage to

A)research managers.
B)marketing managers.
C)advertising agencies.
D)the sales force.
E)product managers.

Question 23

By keeping Procter & Gamble's disposable diaper division focused on parents' concerns about the baby's overall development and health,rather than the technological aspects of diapers,its chief marketing officer acted as a

A)product analyst.
B)advertising strategist.
C)voice of the customer.
D)powerful change agent.
E)research and development champion.

Question 24

Factors that a business can control include

A)price of raw materials.
B)implementation.
C)governmental regulations.
D)competitive activity.
E)technological advances.

Question 25

Reviewing marketing strategies and making changes to ensure the business is keeping pace with changing market conditions is how successful companies

A)deliver customer value.
B)manage customer value.
C)understand customer needs.
D)create customer value.
E)segment customers.

Question 26

By creating the world's first fully integrated diagnostics company,bringing together consulting and support services,Siemens Medical Solutions is an example of a

A)customer-focused business.
B)sales-oriented business.
C)technological research business.
D)hybrid business.
E)an innovative start-up.

Question 27

In order to successfully implement the marketing strategy,the organization must develop

A)sales training programs.
B)a customer database.
C)an advertising strategy.
D)functional plans.
E)a media strategy.

Question 28

The final step in the marketing process is

A)creating customer value.
B)reviewing customer segments.
C)delivering customer value.
D)managing customer value.
E)understanding customer needs.

Question 29

The alignment of all of an organization's functions to focus on the customer is called

A)the marketing plan.
B)customer focus.
C)customer satisfaction measurement.
D)a channel strategy.
E)a product strategy.

Question 30

Asking customers how you can serve them better at each customer visit is an example of

A)customer satisfaction measurement.
B)a segment review.
C)a product mix review.
D)a customer review.
E)marketing research.

Question 31

The process of understand-create-deliver-manage customer value accounts for this percentage of the factors that are key to business success.

A)50%
B)65%
C)75%
D)80%
E)90%

Question 32

In order to develop an offer that resonates with the customer and differentiates the company's position in the marketplace,marketers must look at

A)cross-functional alignment.
B)sales training and execution.
C)the marketing mix.
D)the product mix.
E)the marketing communications strategy.

Question 33

Building strong brands requires marketing to be

A)accountable.
B)ever-changing.
C)unique.
D)supported by extensive research.
E)developed by senior executives.

Question 34

Within the chosen markets,a crucial marketing task is to

A)make recommendations on which customer segments to serve.
B)conduct research.
C)develop a pricing strategy.
D)conduct a competitive analysis.
E)survey sales representatives.

Question 35

Ensuring that the goods and services a company sells are in line with customers' changing needs and technological advances is an example of

A)customer satisfaction measurement.
B)a segment review.
C)a product mix review.
D)a customer review.
E)marketing research.

Question 36

Organizations that are not marketing led typically are focused on

A)a strong customer orientation in the corporate culture.
B)long-term growth in revenue.
C)research and development.
D)building and maintaining brand equity.
E)cost reduction and market share.

Question 37

In order to be successful at identifying opportunities,strategic planning departments must be advised by

A)current events.
B)media.
C)shareholders.
D)sales representatives.
E)marketing.

Question 38

The world's best marketing organizations assess their marketing strategies,make changes,and focus on

A)new product development.
B)customer research.
C)functional plans.
D)sales training programs.
E)cross-functional alignment.

Question 39

By disseminating consumer observations and research throughout the organization,Procter & Gamble are successfully

A)identifying opportunities.
B)segmenting markets.
C)making marketing accountable.
D)developing new product innovations.
E)keeping all employees focused on the customer.

Question 40

To build awareness for the brand and to ensure that the message communicated by the brand appeals to its various stakeholders,Operation Eyesight partners with eye clinics,hospitals,and ophthalmologists.This is an example of

A)cross-functional alignment.
B)a product strategy.
C)a pricing strategy.
D)a channel strategy.
E)a marketing communications strategy.

Question 41

Increasing awareness of the brand is a typical problem faced by non-profit organizations.

Question 42

Companies that succeed over their competitors begin with a simple value proposition that is based on a deep understanding of their customer.

Question 43

Recognizing different sets or groups of customers based on their needs is called target marketing.

Question 44

Marketing is not influential in corporate decisions when

A)there is a clear and shared understanding of the role of marketing.
B)market information and tracking data are key management tools.
C)customer analysis is hard-wired into product innovation.
D)strong brands are used as cash cows to fund acquisitions.
E)the focus is on long-term growth in revenue.

Question 45

Snap-on Tools differentiates their brand from the competition by investing a substantial amount of money in traditional advertising.

Question 46

Trying to manage the explosion in media and channels is a typical problem faced by a for-profit organization.

Question 47

Having the store go to the mechanic is an example of Snap-on Tools' channel strategy.

Question 48

A serious commitment to research and development,and product innovation is an example of a

A)customer segment strategy.
B)pricing strategy.
C)growth strategy.
D)channel strategy.
E)portfolio strategy.

Question 49

The very first step in the marketing process is to understand customer needs.

Question 50

In order to deliver the value created for the customer,marketing strategies must be translated into sales strategies.

Question 51

Arbol's Industries' new CEO realized that the only way to ward off the competition from Eastern Europe and Asia,which were flooding the forestry products industry with cheaper products,was to

A)focus on technology.
B)differentiate the brand.
C)increase labour productivity.
D)cut back on research and development.
E)focus on the current stock price.

Question 52

In order to transform Arbol Industries from a cost-focused company to a marketing-led company,one of the new CEO's first steps was to

A)hire a marketing manager.
B)implement cost reductions.
C)increase labour productivity.
D)cut back on research and development.
E)focus on the current stock price.

Question 53

Marketing is a disciplined process used by organizations to solve business problems.

Question 54

Without a marketing plan to contextualize market conditions,it would be difficult for other departments within an organization to develop functional plans.

Question 55

The marketing mix includes product,price,advertising,and media placement.

Question 56

In the marketing mix,"place" and "channel strategy" are one and the same.

Question 57

Many marketing strategies are implemented by other functions such as sales,customer service,and shipping.

Question 58

The key to achieving excellence in strategy is to be clear about what your strategy is and to consistently communicate it to customers,employees,and shareholders.

Question 59

Marketing is influential in corporate decisions when

A)the CEO is an advocate for the customer.
B)labour productivity is a top-management priority.
C)the growth strategy is focused on mergers and acquisitions.
D)the organization is technology focused.
E)pricing is used to achieve volume goals.

Question 60

Kmart demonstrated its laser-like focus on its marketing strategy by adopting an upscale strategy to attract high-income shoppers,then switching back to a low price strategy to attract low- and middle-income shoppers.

Question 61

It is the task of marketing to be the "voice of the customer."

Question 62

Within the chosen markets,a critical marketing task is to segment customers and make recommendations on which customer segments to serve.

Question 63

Using "Tim's Secrets to Business Success," explain the final step in the marketing process.

Question 64

Explain how an organization delivers customer value.

Question 65

Marketing is not influential in corporate decisions when cost reduction and labour productivity are top-management priorities.

Question 66

Operation Eyesight has successfully used a "one-size-fits-all" approach in creating value and marketing its products to the different market segments it serves.

Question 67

Define the term "marketing strategy" and provide an example.

Question 68

Organizations that are marketing led tend to be product focused and technology-focused.

Question 69

By disseminating consumer observations and research throughout the organization,Procter & Gamble are successfully keeping all employees focused on the customer.

Question 70

World-class marketing organizations do not view marketing as a function,but as a force that transforms the entire organization.

Question 71

The motto of the world's best marketing organizations is "if it isn't broken,don't fix it."

Question 72

Provide an example,from your own experiences,that clearly illustrates a gap between an organization's marketing strategy and the failed execution of that strategy by front-line employees.

Question 73

Following the disciplined process of understand-create-deliver-manage customer value accounts for 50% of the factors that are key to business success.

Question 74

Asking customers how they can be better served is an example of a product mix review.