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

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Question 41

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The information needed in a situation (SWOT) analysis or Step 1 of the planning phase include: (1) trends for industry and competitors and (2) __________.

A) project future sales,expenses,and profits
B) market potential studies
C) positioning studies
D) market-product grids with target segments and product groupings
E) marketing mix actions

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Question 42

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Which of the following products is NOT a recent example of a disruptive innovation?

A) Wrigley's Alert Energy Caffeine Gum
B) Wikipedia
C) Samsung's liquid crystal displays (LCD) High Definition televisions (HDTVs)
D) Apple's iPad and iPad mini tablet devices
E) Cree's light emitting diode (LED) light bulbs

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Question 43

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Successful implementation often lies in fostering a work environment that is characterized by all of the following EXCEPT:

Ben & Jerry's Homemade,Inc.is a profitable company that has a reputation for quality.The company is committed to treating its employees fairly and acting ethically in all transactions.It seeks to purchase all of its supplies from socially responsible suppliers.It is a leader in protecting the environment and corporate philanthropy.Ben & Jerry's uses __________.

Key problems that emerge in a firm's strategic marketing process include: (1) bad news is filtered out as information goes up the line to give top management a very rosy picture; (2) plans are based on very poor assumptions about environmental forces; (3) __________; (4) too much time and effort may be spent on data collection and writing plans that are too complex to implement;and (5) line operating managers often feel no sense of ownership in implementing the plans.

Synergy analysis seeks opportunities by finding the optimum balance between

The most senior executive responsible for a firm's marketing activities is called the __________.

Edwin H.Land,former CEO of Polaroid,took personal responsibility for technological innovation at Polaroid.On the other hand,Lewis Platt,CEO of Hewlett-Packard,believed senior management's role was to create an environment that encourages all managers to take risks and create new growth opportunities.Which of the following statements describes the actions of these men?

A time-based agenda refers to

Synergy analysis refers to

Which of the following pieces of information is used in market-product focus and goal setting,the second step of the planning phase of the strategic marketing process?

In Figure 22-5 above,the market-product grid labeled "C" MOST LIKELY illustrates which of the following market-product strategies that result from the merger of "A" and "B?"

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

As the marketing manager for Acme Products Inc. ,you just became the new program leader for Baubles,a product Acme introduced last year.Initial sales far exceeded expectations.In response,the previous program leader decided to reduce the profit margins for channel members to more quickly recover the high costs incurred in the development of the Baubles product and its marketing program.Unfortunately,sales of Acme Baubles declined by 5 percent while its market share declined by 7 percent as new competitors entered the market.After conducting a customer survey,you concluded that customers were generally satisfied with Acme's Baubles.However,Baubles were not as readily accessible as they were the previous year.Furthermore,after conducting a survey among the leading wholesalers and retailers of Acme Baubles,you discovered they were not pleased with the reduced margins.Moreover,because Acme's principal competitors offered them greater margins,they gave them products better service and shelf space than Acme's.This is an example of

A recent study showed that firms used two different kinds of metrics when analyzing performance on innovation and new product development.These consist of __________ metrics.

A company that uses an organizational structure based on __________ uses functional groupings.

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

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) find points of difference;and (4) __________.

A company that uses an organizational structure based on "Dinner Products" or "Baked Goods" uses __________.

Annual __________ are documents that deal with the marketing goals and strategies for a product,product line,or entire firm for a single year.