Question 1

Marketing ROI (return on investment) is an extension of

Accepted Answer

Marketing ROI is an extension of ROI in finance, as it measures the return on investment from marketing activities, similar to how financial ROI measures returns on financial investments.

Question 2

List the three phases of the strategic marketing process and the output report for each.

Accepted Answer

The answer of List the three phases of the strategic...

Question 3

In a five-year study, researchers conducted in-depth analysis of 160 companies and more than 200 management tools and techniques, such as customer relationship management and use of an intranet. What were their findings? That is, according to the researchers, how would a company exploit its competitive advantage to achieve superior business performance?

Accepted Answer

The answer of In a five-year study, researchers conducted in-depth...

Question 4

Which of these types of test marketing techniques was primarily used in market research for General Mills Warm Delights?

Accepted Answer

General Mills Warm Delights primarily used test marketing on the shelves of actual supermarkets to gauge consumer response and gather data on product performance in a real-world retail environment.

Question 5

List the three steps of the planning phase of the strategic marketing process. Briefly describe actions that make up each of the three steps. What information is collected in each step?

Accepted Answer

The answer of List the three steps of the planning...

Question 6

Marketing ROI (return on investment) uses modern measurement technologies to determine the results of

Accepted Answer

Marketing ROI focuses on evaluating the effectiveness and efficiency of marketing spending by measuring the return generated from marketing investments.

Question 7

The primary target market for Warm Delights is

Accepted Answer

Warm Delights are marketed as a convenient dessert option, appealing to busy, on-the-go women who desire a quick and easy treat.

Question 8

The marketing manager looks for two kinds of deviations in the evaluation phase of the strategic marketing process, each triggering a different kind of action: (1) ________ and (2) actual results fall short of goals.

Accepted Answer

The two kinds of deviations are when actual results exceed goals and when actual results fall short of goals.

Question 9

- Consider Figure 22-7 above. The graphic display of General Mills Channels for Warm Delights Minis as of December 2013 is an example of

Accepted Answer

A marketing dashboard is a visual display of essential marketing data, often used to track performance metrics and key performance indicators (KPIs). The graphic display of General Mills Channels for Warm Delights Minis is an example of such a dashboard.

Question 10

Amy Smith has just completed measuring the results of her firm's product performance. Her next step will be to

Accepted Answer

Amy's next step should be to compare the results against the goals specified in the marketing plan to determine if the performance aligns with the objectives set.

Question 11

Describe the four generic business strategies and which variables determine them.

Accepted Answer

The answer of Describe the four generic business strategies and...

Question 12

Identifying the results that deviate from plans to diagnose their causes and take new actions is referred to as

Accepted Answer

Management by exception involves focusing on significant deviations from planned results to diagnose their causes and take corrective actions.

Question 13

List and explain two types of marketing plans.

Accepted Answer

The answer of List and explain two types of marketing...

Question 14

What are the two types of metrics used by senior marketing executives who prefer that "a company undertake major strategic initiatives to enhance its innovation and product-development capabilities?"

Accepted Answer

The answer of What are the two types of metrics...

Question 15

The application of modern measurement technologies to understand, quantify, and optimize marketing spending is referred to as

Accepted Answer

Marketing ROI (return on investment) involves using modern measurement technologies to assess and optimize the effectiveness and efficiency of marketing spending.

Question 16

Marketing ROI (return on investment) refers to

Accepted Answer

Marketing ROI involves using measurement technologies to quantify and optimize marketing spending to ensure effective use of marketing dollars.

Question 17

- Consider Figure 22-7 above. As part of the Warm Delights team at General Mills, you are asked to analyze and interpret this marketing dashboard for Warm Delights Minis. After a careful analysis of all four charts in the dashboard, what explains the increased monthly unit sales and sales revenue of Warm Delights Minis in the drugstore channel in late 2019?

Accepted Answer

The increased monthly unit sales and sales revenue in the drugstore channel can be attributed to both the increased percentage of drugstores carrying the brand and the increased average number of flavors carried by drugstores.

Question 18

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent, delicious, and gooey dessert. They wanted all of these characteristics in the dessert exceptwhich?

Accepted Answer

The Betty Crocker marketing team focused on indulgence, deliciousness, gooey texture, no cleanup, single portion, quick preparation, and consistent great taste, but pricing below competition was not mentioned as a characteristic they wanted.

Question 19

Two commonly used methods to improve marketing ROI (return on investment) are

Accepted Answer

Marketing metrics and marketing dashboards are tools that help track and analyze the effectiveness of marketing strategies, thereby improving marketing ROI.

Question 20

What is a sales response function?

Accepted Answer

The answer of What is a sales response function?...

Quiz 22: Pulling It All Together: the Strategic Marketing Proces