Pulling It All Together: The Strategic Marketing Process

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Question 1
Free
Multiple Choice

WestJet was founded by four Calgary entrepreneurs in which year?

Choose correct answer/s
A

1967

B

1975

C

1988

D

1996

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Question 2
Free
Multiple Choice

The WestJet founders studied what to determine that their airline could be successful in Western Canada?

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A

their old Marketing textbooks

B

how many travelers there are in Canada

C

how many travelers there are in North America

D

the success of Southwest Airlines

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Question 3
Free
Multiple Choice

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

Choose correct answer/s
A

flexibility.

B

strategy.

C

execution.

D

culture.

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Question 4
Free
Multiple Choice

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

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A

distinctive parity

B

sustainable dominance

C

synergistic edge

D

competitive advantage

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Question 5
Free
Multiple Choice

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):

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A

distinctive parity.

B

sustainable dominance.

C

synergistic edge.

D

competitive advantage.

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Question 6
Multiple Choice

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:

Choose correct answer/s
A
sales ratio function
B
marginal analysis
C
sales response function
D
market-product ratio
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Question 7
Multiple Choice

Sales response functions relate the:

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A
expense of marketing effort to primary competitors' spending.
B
expense of marketing effort to marketing results obtained.
C
market share of firm to market share of primary or nearest competitor.
D
incremental costs to market share.
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Question 8
Multiple Choice

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

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A
the firm has had the most experience with a product.
B
an SBU is considered a cash cow.
C
there is the greatest current market share and the fastest growing industry rate.
D
the excess of incremental revenues over incremental costs is greatest.
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Question 9
Multiple Choice

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

Choose correct answer/s
A
that when demand diminishes, production costs rise.
B
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.
C
the point at which total revenue and total cost are equal.
D
decreasing costs as a result of marketing economies of scale.
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Question 10
Multiple Choice

The S-shaped curve of a sales response function is due to:

Choose correct answer/s
A
rising production costs and diminishing demand.
B
reduced cost and increasing marginal returns.
C
initially increasing and then diminishing marginal returns of additional marketing expenditures.
D
decreasing costs as a result of marketing economies of scale.
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Question 11
Multiple Choice

You have been told that a company increased its marketing effort from $2 million to $5 million,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 effort.

Choose correct answer/s
A
3:1
B
1:3
C
9:1
D
7:19
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Question 12
Multiple Choice

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

Choose correct answer/s
A
market points
B
ownership points
C
share points
D
customer points
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Question 13
Multiple Choice

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:

Choose correct answer/s
A
product line breadth.
B
product line depth.
C
share points.
D
sales response function.
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Question 14
Multiple Choice

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

Choose correct answer/s
A
corporate return on investment.
B
market share for the product.
C
revenues associated with each point of market share.
D
the contribution to overhead and profit (or gross margin) of each share point.
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Question 15
Multiple Choice

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?

Choose correct answer/s
A
Generate a memo that clarifies each team member's responsibilities in the strategic marketing process.
B
Conduct a situation (SWOT) analysis that identifies industry trends, analyzes competitors, assesses his own company, and researches customers.
C
Develop a new organizational chart that reflects the reorganization of the team if corrective actions are not successful in the upcoming year.
D
Write action memos to try to correct problems and exploit opportunities.
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Question 16
Multiple Choice

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

Choose correct answer/s
A
Research
B
Planning
C
Goal Setting
D
Implementation
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Question 17
Multiple Choice

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

Choose correct answer/s
A
high-quality products
B
made in Canada
C
off-shore production
D
premium pricing
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Question 18
Multiple Choice

Figure: 19-1 image
-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?

Choose correct answer/s
A
$1 million
B
$2 million
C
$3 million
D
$5 million
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Question 19
Multiple Choice

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

Choose correct answer/s
A
$20 million
B
$40 million
C
$50 million
D
$70 million
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Question 20
Multiple Choice

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

Choose correct answer/s
A
content creation through story telling
B
ad-based growth
C
allowing customers to complain online
D
offering discounts through social media purchases
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