Question 1

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development. These consist of output and input metrics. Which of the following is an output metric?

Accepted Answer

Customer satisfaction with new products or services is an output metric because it measures the end result of the new-product development process. It indicates how successful the firm is at creating products that meet customer needs and expectations. The other options are input metrics because they measure the resources or efforts put into new-product development, rather than the end result.

Question 2

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

Accepted Answer

During the evaluation phase, the main action is to compare the actual results with the planned ones and identify any deviations, whether negative or positive, in order to take corrective action if needed and exploit opportunities. The other options (A, B, D, and E) are more related to the preceding phases of the strategic marketing process (planning, implementation, and control) and may not be applicable during evaluation specifically.

Question 3

The information needed for the implementation phase of the strategic marketing process includes: (1) a time-based agenda and an action item list to conduct a meeting, (2) __________, and (3) marketing research reports.

Accepted Answer

The answer of The information needed for the implementation phase...

Question 4

A survey of 800 executives led several researchers to suggest that "a company undertaking a major strategic initiative to enhance its innovation and product-development capabilities" should use two kinds of metrics: These consist of __________ metrics.

Accepted Answer

The question states that the metrics needed are for "product-development capabilities," which suggests that output and input metrics would be most relevant. Internal and external metrics, corporate and stakeholder metrics, sociocultural and competitive metrics, and economic and technological metrics may all be important for different purposes, but they are not specified as necessary for enhancing innovation and product-development capabilities.

Question 5

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

Accepted Answer

Marketing plans that define goals are essential in the planning phase of the strategic marketing process. These plans provide a comprehensive and detailed outline of the marketing objectives, strategies, and tactics that the organization intends to implement in order to achieve its goals. They serve as a roadmap for the marketing team and help ensure that all activities are aligned with the overall business strategy. The other options listed are more relevant to the implementation or control phases of the process.

Question 6

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?

Accepted Answer

Evaluating the performance of the marketing strategies and comparing the results with plans is the main focus of the evaluation phase. Corrective action memos are used to address any issues or gaps identified in the evaluation process, often using the firm's marketing metrics and displayed in marketing dashboards. Performance reviews for key personnel, sales reports, action memos, and marketing plans are associated with other phases of the strategic marketing process.

Question 7

Long-range marketing plans cover marketing activities

Accepted Answer

Long-range marketing plans cover marketing activities two to five years into the future.

Question 8

The information needed for the implementation phase of the strategic marketing process includes: (1) a time-based agenda and an action item list, (2) organizational charts, and (3) __________.

Accepted Answer

The answer of The information needed for the implementation phase...

Question 9

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

Accepted Answer

The second action taken during the evaluation phase is to exploit positive deviations and correct negative ones. This involves analyzing the results of the marketing program and identifying areas where goals have been exceeded or fallen short. Positive deviations can be exploited by capitalizing on successful strategies or tactics, while negative deviations require corrective action to improve performance. Comparing results with plans is important, but it is only the first step in the evaluation process. The other actions listed may occur earlier in the strategic marketing process, but are not specific to the evaluation phase.

Question 10

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

Accepted Answer

The evaluation phase provides corrective action memos,triggered by comparing results with plans,often using the firm's marketing metrics and displayed in marketing dashboards.See the Output Report table.

Question 11

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

Accepted Answer

Tracking reports to measure results are used in the evaluation phase of the strategic marketing process to assess the effectiveness of marketing campaigns and make necessary adjustments.

Question 12

Which of the following output report would be associated with the planning phase of the strategic marketing process?

Accepted Answer

The output report associated with the planning phase of the strategic marketing process would be marketing plans that define goals with pertinent marketing metrics and marketing mix strategies to achieve them. Performance reviews (A) and corrective action memos (D) are associated with the evaluation phase, while action memos (C) are associated with the implementation phase. Sales reports (E) are associated with both the implementation and evaluation phases.

Question 13

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

Accepted Answer

During the implementation phase, action memos that outline who is responsible for what tasks and when they need to be completed are crucial. This helps ensure that the strategic plan is executed effectively and efficiently. The other options may be used in other phases of the strategic marketing process, but not specifically in the implementation phase.

Question 14

The information needed for the evaluation phase of the strategic marketing process includes: (1) __________ and (2) action memos to correct problems and exploit opportunities.

Accepted Answer

The evaluation phase involves tracking reports to measure the results of the marketing program and action memos to correct problems and exploit opportunities that arose during the implementation phase. While A, B, and C are important components of the planning phase and E is important for forecasting, they are not directly relevant to the evaluation phase.

Question 15

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?

Accepted Answer

The implementation phase is focused on taking action and putting the marketing plan into operation. Therefore, the output report associated with this phase would be action memos that specify tasks, responsibilities, and deadlines for achievement.

Question 16

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development. These consist of output and input metrics. Which of the following is an input metric?

Accepted Answer

The number of ideas or concepts in the new-product pipeline is an input metric because it measures the effort put into developing new products, rather than the actual results achieved.  Output metrics, on the other hand, measure the actual results achieved, such as the number of new products launched, revenue growth, or customer satisfaction. ROA measures the financial performance of existing products rather than new-product development efforts.

Question 17

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development. These consist of output and input metrics. Which of the following is an input metric?

Accepted Answer

R&D spending as a percentage of sales is an example of an input metric, as it measures the resources and effort put into developing new products, rather than the actual outcomes or results of the development process.

Question 18

A(n) __________ output report would be associated with the planning phase of the strategic marketing process.

Accepted Answer

A marketing plan is a comprehensive document that outlines the organization's overall marketing efforts, including goals, strategies, implementation plans, and budget allocation. It is the primary output of the planning phase of the strategic marketing process. The other options are not directly related to the planning phase or the development of a marketing plan.

Question 19

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

Accepted Answer

The answer of Which of the following information is used...

Question 20

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

Accepted Answer

Marketing plans that cover activities for two to five years are usually referred to as long-range marketing plans. These plans are designed to help companies achieve their long-term goals and objectives. They focus on identifying opportunities and developing strategies to capitalize on them over an extended period. The plans typically include market research, competitive analysis, target audience identification, branding, product development, pricing, distribution, advertising, and promotion, among others.

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

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development. These consist of output and input metrics. Which of the following is an output metric?

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

The information needed for the implementation phase of the strategic marketing process includes: (1) a time-based agenda and an action item list to conduct a meeting, (2) __________, and (3) marketing research reports.

A survey of 800 executives led several researchers to suggest that "a company undertaking a major strategic initiative to enhance its innovation and product-development capabilities" should use two kinds of metrics: These consist of __________ metrics.

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

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?

Long-range marketing plans cover marketing activities

The information needed for the implementation phase of the strategic marketing process includes: (1) a time-based agenda and an action item list, (2) organizational charts, and (3) __________.

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

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

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

Which of the following output report would be associated with the planning phase of the strategic marketing process?

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

The information needed for the evaluation phase of the strategic marketing process includes: (1) __________ and (2) action memos to correct problems and exploit opportunities.

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 recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development. These consist of output and input metrics. Which of the following is an input metric?

A recent survey showed that firms used two different kinds of metrics when measuring results and measuring efforts that go into new-product development. These consist of output and input metrics. Which of the following is an input metric?

A(n) __________ output report would be associated with the planning phase of the strategic marketing process.

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

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