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Loving Care Pets manufactures dog food specifically created for puppies under three months of age.In terms of the market-product grid framework,Loving Care Pets is a small firm without sustainable comparative advantages in marketing or production efficiencies.Loving Care Pets is using a __________ strategy.


A) market-product concentration
B) market specialization
C) product specialization
D) selective specialization
E) full coverage

F) A) and D)
G) D) and E)

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Synergy analysis incorporates two business analysis tools,which are diversification analysis and __________.


A) Porter's generic business strategy
B) the market-product grid framework
C) SWOT analysis
D) Porter's competitive advantage
E) share point analysis

F) A) and E)
G) B) and E)

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the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.

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The planning phase of the strategic mark...

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program champion refers to


A) a person who is able and willing to cut red tape and move the program forward.
B) the person within an organization who is assigned the responsibility of taking a program from conception to deletion.
C) a person in an organization who serves as the public representative or "face" for a new product.
D) a public figurehead, usually a sports figure or celebrity, who serves as a company spokesperson for a new product.
E) a single product within the product line that carries the other products in the line "on its back."

F) B) and C)
G) None of the above

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


A) position the product
B) select target markets
C) develop schedules
D) find points of difference
E) develop the budget by estimating revenues, expenses, and profits

F) A) and D)
G) B) and D)

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Explain what a Gantt chart is and how it is used.

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A Gantt chart is a graphical representat...

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


A) making long-range plans for nylon.
B) maintaining the divisional mission statement.
C) modifying DuPont's organizational structure.
D) creating static marketing objectives.
E) implementing short-term actions for all fibers.

F) A) and D)
G) B) and E)

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________ relates the expense of the marketing effort to the marketing results obtained.


A) marketing ROI
B) market share profitability
C) share point analysis
D) synergy analysis
E) sales response function

F) None of the above
G) D) and E)

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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) execute the marketing program
C) track sales and revenues and compare with competitors
D) develop the budget by estimating revenues, expenses, and profits
E) correct negative deviations and exploit positive ones

F) A) and B)
G) A) and D)

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of the following are ways a marketing manager can improve the implementation of a marketing program EXCEPT:


A) reward successful implementation.
B) communicate goals and the means to achieve them.
C) schedule precise tasks, responsibilities, and deadlines.
D) avoid paralysis by analysis.
E) find the right person to implement the plans.

F) A) and B)
G) A) and E)

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Which of the following statements best reflects the guideline for having complete and feasible plans?


A) "The eyeglass cases will come in both hard and soft holders, in multiple colors, and we'll give them a mid-range price. They're cute enough that we might be able to cut back on advertising."
B) "Ideally, we should release the e-book immediately after the hard cover book comes out, but it would mean redirecting resources away from the tour."
C) "Our research shows the most efficient way to distribute the product is through rack jobbers, but at this point we don't know how price sensitive the market is."
D) "If we want to sell designer clothing for eleven fashion dolls, we need to keep prices close to the $20 range, including shipping and handling. Since the target market consists of women over 40 who use the dolls in home decorating, we need to budget funds to run ads in design magazines."
E) "Most people say they want more soy based products; if we could corner the soy market, we might be able to prevent the competition from entering the game."

F) A) and D)
G) None of the above

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action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task, (2) __________, (3) the date to finish the task,and (4) what is to be delivered.


A) the budget
B) the product or service
C) the points of difference
D) the promotional message
E) the person responsible for completing the task

F) A) and E)
G) B) and C)

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There are five alternative marketing strategies that can be identified by market-product grids: market-product concentration,__________,product specialization,selective specialization,and full coverage.


A) diversification
B) selective distribution
C) market specialization
D) product reorientation
E) new product specialization

F) C) and E)
G) B) and E)

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


A) do a profitability analysis.
B) take necessary corrective actions.
C) bring these to the marketing auditor.
D) proceed regardless of deviations from original plans.
E) compare the results against the goals specified in the marketing plan.

F) B) and C)
G) B) and E)

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action item list refers to


A) an aid to implement a marketing plan that consists of four columns.
B) a tool that shows the relationships through time of the various program tasks.
C) a graphical representation of a program schedule.
D) a systematic method to itemize the "value" of products and services.
E) an aid to implementing a business plan and consisting of five columns.

F) B) and E)
G) D) and E)

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Marketing ROI (return on investment) is an extension of __________.


A) marginal analysis
B) marketing audits
C) ROI in finance
D) Six Sigma
E) the strategic marketing process

F) A) and B)
G) All of the above

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


A) product line groupings
B) functional groupings
C) reseller groupings
D) geographical groupings
E) market-based groupings

F) C) and E)
G) B) and C)

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is the primary disadvantage of employing a market specialization strategy?


A) Gaining market distribution will be costly.
B) The organization may be spread too thin.
C) The organization achieves neither marketing nor manufacturing synergies.
D) R&D-manufacturing has the difficulty of producing multiple products.
E) There are too many product substitutes over which a firm would not have control.

F) D) and E)
G) A) and D)

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Candy is a cosmetics company that markets the Palm Palette-all the make-up a "girl-on-the-go" needs without a cumbersome make-up bag.It comes in three shades-glam,funky,and girlies.Hard Candy targets women who are twenty somethings.Which one of Porter's generic business strategies does Hard Candy use?


A) differentiation focus
B) cost focus
C) differentiation
D) cost leadership
E) profit enhancement

F) C) and E)
G) D) and E)

Correct Answer

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Figure 22-1 -According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________. A) $20 million B) $40 million C) $50 million D) $70 million E) $80 million Figure 22-1 -According to Figure 22-1 above,the result of spending an additional $1 million in annual marketing effort from $3 million to $4 million resulted in increased revenues of __________.


A) $20 million
B) $40 million
C) $50 million
D) $70 million
E) $80 million

F) A) and D)
G) D) and E)

Correct Answer

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