Question 1

General Mills uses a marketing structure in which one person is ultimately responsible for the marketing of a specific product. For instance, one person is responsible for setting marketing goals and developing and implementing related marketing strategies for the well-known breakfast cereal, Cheerios. This person, who takes responsibility
For the success or failure of the marketing of Cheerios, is called a(n):

Accepted Answer

The person described is a product manager, as they are responsible for setting marketing goals and implementing strategies for a specific product (Cheerios). The other options (A, C, and D) do not accurately describe this role in the marketing structure.

Question 2

Which of the following is NOT traditionally a responsibility of a product or brand manager?

Accepted Answer

While product and brand managers may work with the sales force and provide input on training and strategies, selecting and training the sales force is typically the responsibility of a sales manager or director.

Question 3

Which of the following roles would not be classified as part of the functional groups at Pillsbury?

Accepted Answer

"Desserts" does not fit into any of the typical functional groups within a company, such as marketing, sales, finance, or operations. It could potentially fall under a product development or innovation group, but that is not typically considered a functional group on its own.

Question 4

Which of the following is an example of an emerging marketing challenge for the Warm Delights microwaveable desserts?

Accepted Answer

The answer of Which of the following is an example...

Question 5

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

Accepted Answer

Amy Smith's next step would be to compare the results of the marketing plan to the goals that were set for that plan. This will help her determine if the plan was successful or if there are areas that need improvement. It is a crucial step in evaluating the effectiveness of the marketing plan and determining if any changes need to be made. While taking corrective action may be necessary, it cannot be done without first comparing the results to the goals. Doing a profitability analysis and bringing the results to a marketing auditor may also be helpful but would not be the next step in the process.

Question 6

A marketing manager uses management by exception to:

Accepted Answer

Management by exception is a management style where only significant deviations from planned results are brought to the attention of management. In marketing, this approach allows managers to identify results that are not meeting expectations and determine the potential causes. This enables them to take new actions or adjust their strategies accordingly.

Question 7

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

Accepted Answer

The application of modern measurement technologies to understand, quantify, and optimize marketing spending is known as Marketing ROI (Return on Investment). It helps businesses to determine the profitability of their marketing campaigns and make data-driven decisions. Sales analysis, marketing component analysis, and profitability analysis may be part of Marketing ROI analysis but do not encompass the entire process.

Question 8

Reference: 19-04
Figure 19-6
 
-In Figure 19-6, the box labeled "E" illustrates which of the following market-product strategies?

Accepted Answer

The answer of Reference: 19-04
Figure 19-6
 
-In Figure 19-6, the...

Question 9

When Potash Corp. of Saskatchewan demands it suppliers adhere to strict human rights standards, it is practicing ___________.

Accepted Answer

The answer of When Potash Corp. of Saskatchewan demands it...

Question 10

What was the decline in purchases of baking mix in U.S. households between 2000 and 2004?

Accepted Answer

The decline in purchases of baking mix in U.S. households between 2000 and 2004 was 3 percent.

Question 11

The evaluation phase of the strategic marketing process includes all of the following, except:

Accepted Answer

Creating goals and results to identify deviations is not a part of the evaluation phase, but rather a part of the planning phase of the strategic marketing process. The evaluation phase involves measuring results against the quantified goals and identifying the cause of deviations in order to take actions to solve problems and exploit opportunities.

Question 12

Reference: 19-04
Figure 19-6
 
-In Figure 19-6, the box labeled "B" illustrates which of the following market-product strategies?

Accepted Answer

Market specialization focuses on a specific market segment and offers a wide range of products to meet the needs of that segment.

Question 13

The evaluation phase of the strategic marketing process includes all of the following activities EXCEPT:

Accepted Answer

The evaluation phase of the strategic marketing process involves measuring the results against the previously established quantified goals, identifying the causes of any deviations from those goals, and comparing the goals and results to determine the effectiveness of the marketing strategy. The only activity that is NOT part of this evaluation phase is establishing new quantified goals to be measured.

Question 14

All of Samsung's products where selling above forecasted numbers in 2014, except for their microwaves, which were not following their annual marketing plan. Executives focused on microwaves and implemented a new strategy to attempt to reverse the trend. Samsung was employing:

Accepted Answer

Management by exception is a strategy where managers focus on areas that deviate from the plan, rather than areas that are performing as expected. In this case, Samsung's executives concentrated on microwaves, which were not meeting the forecasted numbers, indicating they were using management by exception.

Question 15

Which of the following statements describes a disadvantage of the product manager system?

Accepted Answer

Although product managers have major responsibilities, they often have limited direct authority and rely on cross-functional teams to execute decisions. This can lead to delays or difficulties in decision-making and implementation.

Question 16

Vancity is Canada's largest credit union. It has a clear statement of includes the concepts of integrity, innovation, and responsibility.
Which

Accepted Answer

Values are fundamental beliefs or principles that guide an organization's behavior and decision-making. The concept of integrity, innovation, and responsibility mentioned in the statement of Vancity are values. Strategies, objectives, and goals are more focused on the specific actions and outcomes an organization wants to achieve.

Question 17

All of the following are steps in the strategic marketing process, except:

Accepted Answer

Analysis is not considered a step in the strategic marketing process itself but rather a component or activity that supports the planning phase. The strategic marketing process typically includes planning, implementation, and evaluation phases.

Question 18

Many large, packaged goods marketers like Procter & Gamble, Kraft, and Pillsbury have used the product manager (or brand manager)system of marketing organization and implementation. Which of the following is the key advantage of this system?

Accepted Answer

The key advantage of the product manager system is that product managers can assume profit-and-loss responsibility for the performance of the product line. This allows for greater accountability and motivation to make strategic decisions that positively impact the bottom line.

Question 19

Within DuPont's textile fibre department, there is a separate product manager for rayon, acetate, Orlon, nylon, and Dacron. The product manager for DuPont nylon would be responsible for:

Accepted Answer

The product manager for DuPont nylon would be responsible for making long-range plans for nylon, including setting goals for production, innovation, and marketing. They would not be responsible for maintaining the divisional mission statement, creating static marketing objectives, or modifying DuPont's organizational structure.

Question 20

Reference: 19-04
Figure 19-6
 
-In Figure 19-6, the box labeled "A" illustrates which of the following market-product strategies?

Accepted Answer

Market-product concentration refers to focusing on a single market segment with a single product, which is typically what is illustrated by a box labeled "A" in such diagrams.

Quiz 19: Pulling It All Together: the Strategic Marketing Process