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

Question 1

In the Canadian telecom market, Bell Canada, Telus, and Rogers Communications have almost 97 percent of the in the market.

A)customer points
B)market points
C)share points
D)ownership points

Answer 1

C

Question 2

Reference: 19-01
Figure 19-1

According to Figure 19-1, an additional annual marketing effort of $1 million is best spent after having already spent how much in marketing effort to date?

A)$5 million
B)$3 million
C)$1 million
D)$2 million

Answer 2

B

Question 3

When developing new food products, one of the challenges for General Mills is in market research. During research, consumers often say one thing in the study and ________ at the supermarket.

A)forget what they said
B)do something else
C)experiment
D)repeat it

Answer 3

B

Question 4

Last year, General Mills spent $3 million on advertising and observed a 5 percent increase in market share. This year, they spent $4 million and observed a 7 percent increase. These measures are considered the:

A)market-product ratio
B)sales ratio function
C)sales response function
D)marginal analysis

Question 5

General Mills uses the strategic marketing process to succeed in the $ billion ready-to-eat (RTE)cereal market.

A)8)7
B)7)3
C)9)5
D)10.0

Question 6

Reference: 19-01
Figure 19-1

According to Figure 19-1, the result of spending an additional $1 million, from $3 million to $4 million, resulted in increased revenues of _ _.

A)$40 million
B)$50 million
C)$20 million
D)$70 million

Question 7

General Mills uses strategic marketing to succeed in a competitive market where costs are increasing and:

A)social media is expanding.
B)food regulations are becoming stricter.
C)consumer tastes are changing.
D)global competitors are merging.

Question 8

The marketing manager for Ocean Spray cranberry products is the team leader for each phase of the company's strategic marketing process. During the previous year, sales of cranberries in Canada did not meet expectations. Which of the following actions during the planning phase of the strategic marketing process would generate the required information for his team to develop the plans that define the goals and marketing mix strategies to be achieved for next year?

A)Conduct a situation (SWOT)analysis that identifies industry trends, analyzes competitors, assesses his own company, and researches customers.
B)Write action memos to try to correct problems and exploit opportunities.
C)Generate a memo that clarifies each team member's responsibilities in the strategic marketing process.
D)Develop a new organizational chart that reflects the reorganization of the team if corrective actions are not successful in the upcoming year.

Question 9

Having an exclusive contract with a supplier or customer, or having patented useful technology are considered a(n):

A)sustainable dominance
B)competitive advantage
C)synergistic edge
D)distinctive parity

Question 10

You have been told that a company increased its marketing effort from $2 million to $5 m and that the same company increased its sales revenue from $12 million to $21 million. Calculate the company's ratio of incremental sales revenue to incremental marketing effor

A)3:1
B)9:1
C)1:3
D)7:19

Question 11

How many new food products does General Mills introduce each year?

A)Less than 100
B)Less than 500
C)More than 300
D)More than 200

Question 12

The relationship of annual marketing effort to annual sales revenue is assumed to be an S-shaped curve because the sales response function shows:

A)an additional $1 million of marketing effort results in a far greater increases of sales revenue in the midrange of the curve than at either end.
B)the point at which total revenue and total cost are equal.
C)that when demand diminishes, production costs rise.
D)decreasing costs as a result of marketing economies of scale.

Question 13

Sales response functions relate the:

A)market share of firm to market share of primary or nearest competitor.
B)incremental costs to market share.
C)expense of marketing effort to marketing results obtained.
D)expense of marketing effort to primary competitors' spending.

Question 14

Which aspect is the foundation of Canada Goose's differentiation strategy?

A)made in Canada
B)premium pricing
C)high-quality products
D)off-shore production

Question 15

Biopure Corporation has developed an artificial hemoglobin that can be used in place of blood transfusions and holds the patent on this product. Therefore, Biopure has a(n):

A)competitive advantage.
B)sustainable dominance.
C)synergistic edge.
D)distinctive parity.

Question 16

Each of the following phases is a basic strategic marketing practice that is fundamental to business success EXCEPT:

A)flexibility.
B)evaluation.
C)planning.
D)implementation.

Question 17

When using share points to make marketing resource allocation decisions, marketing managers must estimate all of the following EXCEPT:

A)market share for the product.
B)corporate return on investment.
C)revenues associated with each point of market share.
D)the contribution to overhead and profit (or gross margin)of each share point.

Question 18

Economists would most likely recommend that marketing managers allocate the firm's marketing resources to the markets and products in which:

A)an SBU is considered a cash cow.
B)the excess of incremental revenues over incremental costs is greatest.
C)the firm has had the most experience with a product.
D)there is the greatest current market share and the fastest growing industry rate.

Question 19

At which stage in the strategic marketing process would a marketing manager set a 10 percent market share growth goal compared to last year?

A)Goal Setting
B)Planning
C)Implementation
D)Research

Question 20

New Balance has no celebrity endorsers and does minimal advertising, yet the athletic shoe brand has 11 percent of the market. This 11 percent can be referred to as New Balance's:

A)sales response function.
B)product line breadth.
C)product line depth.
D)share points.

Question 21

All of the following are goals of the marketing ROI concept except:

A)reduce marketing spending
B)quantify marketing spending
C)optimize marketing spending
D)understand marketing spending

Question 22

The actions taken in situation (SWOT)analysis, or Step 1 of the planning phase, include: 1)identify industry trends, 2), 3)assess own company, and 4) research customers.

A)analyze competitors
B)find points of difference
C)set market and product goals
D)select target markets

Question 23

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

A)Marketing plans that define goals
B)Corrective action memos
C)Projections of sales and expenses
D)Action memos that tell who is to do what by when

Question 24

Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process?

A)Projection of future sales, expenses, and profits
B)Revenues associated with each point of market share
C)Market share for the product
D)Corporate return on investment

Question 25

Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process?

A)Trends in past and current revenues for industry and competitors
B)Corporate return on investment
C)Revenues associated with each point of market share
D)Market share for the product

Question 26

Canada Goose's social media success has been all organic. One of the fundamental social media marketing strategies of Canada Goose is:

A)offering discounts through social media purchases
B)allowing customers to complain online
C)content creation through story telling
D)ad-based growth

Question 27

Which of the following output reports is used in the planning phase of the strategic marketing process?

A)Action memos that tell who is to do what by when
B)Marketing plans that define goals
C)Corrective action memos
D)Action memos that tell who is to do what

Question 28

Which of the following pieces of information is used in the second step of the planning phase of the strategic marketing process?

A)Corporate return on investment
B)Trends in past and current revenues for industry and competitors in total and by segment
C)Market potential studies
D)Revenues associated with each point of market share

Question 29

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

A)Revenues associated with each point of market share
B)Marketing research reports
C)Corporate return on investment
D)Trends in past and current revenues for industry and competitors in total and by segment

Question 30

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

A)Trends in past and current revenues for industry and competitors in total and by segment
B)Revenues associated with each point of market share
C)Memos assigning responsibilities for actions and deadlines
D)Marketing metrics and marketing dashboards

Question 31

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

A)Organizational charts and job descriptions
B)Revenues associated with each point of market share
C)Corporate return on investment
D)Trends in past and current revenues for industry and competitors in total and by segment

Question 32

All of the following are correct statements about the evolving role of the Chief Marketing Officer (CMO), except?

A)increased focus on "voice of the customer"
B)reduced turnover of CMOs
C)increased turnover of CMOs
D)how the Internet is impacting purchasing behaviours

Question 33

At which stage in the strategic marketing process would improving marketing ROI be assessed?

A)Evaluation
B)Assessment
C)Planning
D)Measureme nt

Question 34

As described in the textbook example, all of the following are examples of metrics used by General Mills' Channel Marketing Dashboard, except:

A)Percentage of Total Sales Revenues by Channel
B)Monthly Unit Sales by Channel
C)Average Number of Flavours Carried by Channel
D)Average Number of Sales per Channel

Question 35

Which of the following output reports is used in the evaluation phase of the strategic marketing process?

A)Corrective action memos
B)Action memos that tell who is to do what
C)Action memos that tell who is to do what by when
D)Marketing plans that define goals

Question 36

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

A)Revenues associated with each point of market share
B)Characteristics and timing of marketing mix actions
C)Corporate return on investment
D)Trends in past and current revenues for industry and competitors in total and by segment

Question 37

Which of the following pieces of information is used in the second step of the planning phase of the strategic marketing process?

A)Market-product grids, with ranked targets
B)Revenues associated with each point of market share
C)Trends in past and current revenues for industry and competitors in total and by segment
D)Corporate return on investment

Question 38

All of the following are aspects of beneficial synergies that are expected to be generated through the purchase of Shoppers Drug Mart by Loblaw, except:

A)more staff than needed
B)additional scale
C)operating cost savings
D)market coverage

Question 39

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

A)Gantt charts
B)Corporate return on investment
C)Trends in past and current revenues for industry and competitors in total and by segment
D)Revenues associated with each point of market share

Question 40

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

A)Corporate return on investment
B)Revenues associated with each point of market share
C)Trends in past and current revenues for industry and competitors in total and by segment
D)Tracking reports measuring results of marketing actions

Question 41

The information needed in situation (SWOT)analysis, Step 1 of the planning phase, includes: 1)trends for industry and competitors and 2)________

A)market potential studies.
B)positioning studies.
C)projections of future sales, expenses, and profits.
D)market-product grids with targets.

Question 42

The actions taken in the marketing program, Step 3 of the planning phase, include: 1) develop the program's marketing mix and 2)_ _.

A)identify industry trends
B)develop the budget by estimating revenues, expenses, and profits
C)select target markets
D)position the product

Question 43

The actions taken during the implementation phase of the strategic marketing process include: 1)obtain resources, 2)design marketing organization, 3)develop schedules, 4)_.

A)select target markets
B)find points of difference
C)execute the marketing program
D)position the product

Question 44

The information needed for the marketing program, Step 3 of the planning phase, includes: 1)and 2)detailed plans to execute the marketing program.

A)marketing mix actions
B)market-product grids with targets
C)projections for future sales, expenses, and profits
D)positioning studies

Question 45

The actions taken during the implementation phase of the strategic marketing process include: 1)obtain resources, 2), 3)develop schedules, 4)and execute the marketing program.

A)design marketing organization
B)find points of difference
C)select target markets
D)position the product

Question 46

The actions taken during the evaluation phase of the strategic marketing process include: 1)compare results with plans to identify deviations and 2)_.

A)find points of difference
B)correct negative deviations; exploit positive ones
C)execute the marketing program
D)track sales and revenues and compare with competitors

Question 47

position the product.

A)research customers
B)develop the program's marketing mix
C)identify industry trends
D)set market and product goals

Question 48

The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: 1), 2)market-product grids with targets, and 3)
Positioning studies.

A)market potential studies
B)detailed plans to execute the marketing program
C)trends for industry and competitors
D)marketing mix actions

Question 49

The information needed in market product focus and goal setting, Step 2 of the planning phase, includes: 1)market potential studies, 2)market-product grids with
Targets, and 3).

A)trends for industry and competitors
B)detailed plans to execute the marketing program
C)positioning studies
D)marketing mix actions

Question 50

The actions taken during market product focus and goal setting, Step 2 of the planning phase, include: 1)set market and product goals, 2), 3)find points of difference, and 4)position the product.

A)research customers
B)develop the program's marketing mix
C)identify industry trends
D)select target markets

Question 51

The actions taken during the evaluation phase of the strategic marketing process include: 1)and 2)correct negative deviations; exploit positive ones.

A)find points of difference
B)track sales and revenues and compare with competitors
C)execute the marketing program
D)compare results with plans to identify deviations

Question 52

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

A)market-product grids with targets
B)positioning studies
C)detailed plans to execute the marketing program
D)projections for future sales, expenses, and profits

Question 53

Setting up an organizational chart would most likely to occur during which phase of the strategic marketing process?

A)assessment
B)implementation
C)planning
D)resourcing

Question 54

A breakdown of the hierarchy of roles, who reports to who, who manages who, and the overall chain of command is referred to as a(n):

A)arrangement chart
B)positioning chart
C)organizational charts
D)people chart

Question 55

The actions taken during the implementation phase of the strategic marketing process include: 1), 2)design marketing organization, 3)develop schedules, 4)and execute the marketing program.

A)find points of difference
B)position the product
C)obtain resources
D)select target markets

Question 56

All of the following would be suitable reasons to engage in a merger to create synergies for the larger company, except:

A)secure patented technologies
B)employ double the employees than needed
C)observe IT savings
D)expand market reach

Question 57

The actions taken during the implementation phase of the strategic marketing process include: 1)obtain resources, 2)design marketing organization, 3), 4)and execute the marketing program.

A)develop schedules
B)position the product
C)find points of difference
D)select target markets

Question 58

All of the following are pieces of information used during the implementation phase of the strategic marketing process, except:

A)marketing research
B)organizational charts
C)market potential studies
D)action memos with deadlines

Question 59

The actions taken during market product focus and goal setting, step two of the planning phase, include: 1)set market and product goals, 2)select target markets, 3)
Find points of difference, and 4)_.

A)research customers
B)develop the program's marketing mix
C)identify industry trends
D)position the product

Question 60

The actions taken during market product focus and goal setting, Step 2 of the planning phase, include: 1)set market and product goals, 2)select target markets, 3)_, and 4)position the product.

A)find points of difference
B)research customers
C)identify industry trends
D)develop the program's marketing mix

Question 61

Long-range marketing plans:

A)cover marketing activities from two to five years into the future.
B)sequence the details of day-to-day activities dealing with the implementation of a product strategy in the strategic marketing process.
C)deal with marketing goals and strategies for a product, product line, or entire firm for a single year.
D)predict anticipated revenue for each year during a two to five year period.

Question 62

Walmart uses which type of generic business strategy?

A)differentiation
B)cost leadership
C)cost focus
D)differentiation focus

Question 63

Reference: 19-03
Figure 19-4

In Porter's generic business strategy shown in Figure 19-4, quadrant "C" refers to a ________ strategy.

A)cost focus
B)differentiation
C)quality focus
D)cost leadership

Question 64

A new manager at Whirlpool creates a plan for each major product line (large appliance and small appliance)to execute in the following year. This plan is likely a(n):

A)product line plan
B)recurring marketing plan
C)annual marketing plan
D)short term plan

Question 65

Based on relative competitive scope (broad target to narrow target)and source of competitive advantage (lower cost to differentiation), Porter's four generic business strategies are cost leadership, cost focus, differentiation focus, and:

A)reactive.
B)differentiation.
C)diversification.
D)service leadership.

Question 66

With the exception of such industries as autos, steel, or forest products, most long-range plans cover a period of:

A)2 to 5 years.
B)1 year.
C)6 to 8 months.
D)5 to 10 years.

Question 67

Volkswagen is likely to have which generic business strategy?

A)differentiation focus
B)quality focus
C)diversification
D)price leadership

Question 68

Typically, the _ marketing plan covers marketing activities over a period of two to five years in the future. The marketing plan, which is highly
Structured and detailed, is usually developed by a product manager and begins with marketing research and ends after 48 weeks with the approval of the general manager.

A)new product; long-range
B)annual; new product,
C)long-range; new product
D)long-range; annual

Question 69

The new Chief Marketing Officer at Pepsi outlines her marketing strategy and plan for the next four years. This plan is called a:

A)marketing strategy
B)long-range marketing plan
C)generic marketing strategy
D)long-range strategic plan

Question 70

Farah, who works for Coca-Cola, set next year's sales goal for Diet Coke to increase 3 percent from last year. She then built a plan around this. Farah as created an annual:

A)budget projection
B)sales forecast
C)production estimate
D)marketing plan

Question 71

A simple strategy: "to be the low-cost provider in our niche market" is an example of a:

A)low-cost strategy
B)niche-market strategy
C)focused business strategy
D)generic business strategy

Question 72

All of the following would be considered examples of Porter's generic business strategies, except:

A)cost leadership
B)cost focus
C)specificity
D)differentiation

Question 73

IKEA is likely to have which generic business strategy?

A)diversification
B)quality leadership
C)cost focus
D)service leadership

Question 74

All of the following statements about cost leadership strategy are true, except:

A)Cost focus strategy requires reducing expenses to lower the price of the items sold in a relatively broad array of market segments.
B)Significant investments in capital equipment may be necessary to improve the production or distribution process to give low unit costs.
C)Walmart's sophisticated systems of regional warehouses and electronic data interchange with suppliers have led to huge cost savings.
D)The cost leader still must have adequate quality levels.

Question 75

Reference: 19-02
TB Figure 1

Referring to TB Figure 1, each 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?

A)Sales reports using the firm's product metrics and dashboards.
B)Corrective action memos, triggered by comparing results with plans often using the firm's marketing metrics and dashboards.
C)Performance reviews for key personnel.
D)Action memos that tell (1)who is (2)to do what (3)by when.

Question 76

Which type of firm can use a generic business strategy?

A)any firm regardless of the product or industry
B)reseller
C)low-cost producers
D)discount firm

Question 77

Reference: 19-02
TB Figure 1

Each phase of the strategic marketing process creates its own unique type of output report. Which of the following would be associated with the planning phase?

A)Action memos that tell (1)who is (2)to do what (3)by when.
B)Corrective action memos, triggered by comparing results with plans often using the firm's marketing metrics and dashboards.
C)Marketing plans (or programs)that define goals (with pertinent marketing metrics)and the marketing mix strategies to achieve them.
D)Performance reviews for key personnel.

Question 78

The information used during the evaluation phase of the strategic marketing process includes: 1)and 2)action memos to correct problems, exploit opportunities.

A)market-product grids with targets
B)positioning studies
C)detailed plans to execute the marketing program
D)tracking reports to measure results

Question 79

Based on relative competitive scope (broad target to narrow target)and source of competitive advantage (lower cost to differentiation), Porter's four generic business strategies are differentiation, cost focus, differentiation focus, and:

A)electronic-focus.
B)cost leadership.
C)exclusivity.
D)quality focus.

Question 80

Reference: 19-02
TB Figure 1

Referring to TB Figure 1, each 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?

A)Action memos that tell (1)who is (2)to do what (3)by when.
B)Performance reviews for key personnel.
C)Sales reports using the firm's marketing metrics and dashboards.
D)Corrective action memos, triggered by comparing results with plans often using the firm's marketing metrics and dashboards.