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Strategic Marketing Process
Strategic Marketing Process MCQs
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The relationship between the expense of marketing effort and the marketing results obtained is called:
sales ratio function.
marginal analysis.
sales response function.
market-product ratio.
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The "S" shape of a sales response function is due to:
rising production costs and diminishing demand.
reduced cost and increasing marginal returns.
initially increasing and then diminishing marginal returns of additional marketing expenditures.
decreasing costs as a result of marketing economies of scale.
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Share points are:
the weighted number of target market revenues relative to all target markets within a firm.
measurements based on million dollar increments of industry revenue.
percentage points of market share.
percentage points of revenue generated by different products within one firm.
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Which of the following is NOT a step in the planning phase of the strategic marketing process?
Situation analysis
Obtain resources
Marketing program development
Market-product focus and goal setting
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Long-range marketing plans:
sequence the details of day-to-day activities dealing with the implementation of a product strategy in the strategic marketing process.
deal with marketing goals and strategies for a product, product line, or entire firm for a single year.
forecast anticipated revenue for each year during a two to five year period.
cover marketing activities from two to five years into the future.
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Documents that deal with the marketing goals and strategies for a product, product line, or entire firm for a single year are called:
annual production estimates.
annual sales forecasts.
annual marketing plans.
annual budget projections.
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A generic business strategy is intended for which type of firm?
Reseller
Low-cost producers
Discount firm
Any firm regardless of the product or industry.
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Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s fo...
fixed price
hard sell
hyperbole
differentiation
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What purpose does a market-product grid serve?
Shows the fastest areas of industry growth
Enumerates all possible competitive firms
Helps identify important trade-offs in the strategic marketing process.
Pinpoints alternatives and uncertainties.
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At which stage of the product life cycle would a market-product concentration strategy be employed?
Introduction stage
Growth stage
Maturity stage
Choices a and b
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Which marketing strategy focuses on a single market segment but adds additional product lines?
Full coverage
Market specialization
Product specialization
Selective specialization
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Which marketing strategy involves retaining focus on a single product line but marketing it to new unknown markets?
Full coverage
Market specialization
Product specialization
Selective specialization
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Which marketing strategy involves targeting separate product lines for separate segments?
Full coverage
Market specialization
Product specialization
Selective specialization
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Which marketing strategy will offer all product lines in all markets?
Full coverage
Market specialization
Product specialization
Selective specialization
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Value-based planning combines marketing planning ideas and financial planning techniques to assess how much a division or SBU contributes to:
the accomplishment of corporate goals.
realizing important societal needs.
essential fiscal survival.
the price of a company’s stock (or shareholder wealth).
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In the 1990s, the implementation phase of the strategic marketing process has emerged as the key factor to:
failure.
success.
unconscionable profits.
loss of employee loyalty.
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A person within a firm who is able and willing to cut red tape and move a product or program forward is called a:
channel captain.
marketing mediator.
program director.
product champion.
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The strategic marketing process involves three phases: planning, implementation, and:
execution
control
goals
analysis.
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Three commonly used methods of controlling marketing programs are:
sales analysis, marginal analysis, and cost analysis.
sales analysis, profitability analysis, and marketing audits.
sales analysis, profitability analysis, and marketing control boards.
sales audits, cost audits, and marketing audits.
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The purpose of sales analysis is to:
spotlight the behavior of controllable costs and indicate the contribution to profit of a specific marketing factor.
trace sales revenues to their sources such as specific products, sales territories, or customers.
allocate resources that balance incremental returns of an action against incremental costs.
use the firm’s sales records to compare actual results with sales goals and identify areas of strength and weakness.