long-range marketing plans.
Marketing plans that cover marketing activities from two to five years into the future are called:
I and III
Gap definitely spans the market, so they are not focused. They also differentiate by positioning themselves in particular ways, so they are not using cost as their basis. Thus, Gap is broad and differentiated.
Gap Inc. caters to three different tiers of the market with their Old Navy, Gap and Banana Republic retail clothing stores. Which of the following are true about Gap Inc.?
I. Their strategy has a broad scope.
II. Their strategy has a narrow scope.
III. Differentiation is their competitive advantage.
IV. Differentiation focus is their business strategy.
V. They use cost focus for the Old Navy stores.
compute gross margin per sales point
Caroline is conducting a share point analysis for Bloomingdale’s. First, she estimates total industry sales by compiling a list of all department stores and their sales for the previous year. Next, she estimates Bloomingdale’s market share within the industry. To find the value of one share pont, Caroline must do which of the following?
$36,000 loss; M.E. Inc. may or may not want to make this investment depending on their strategic goals.
Bill is the owner of M.E. Inc., which produces miniature internal combustion engines that are used to operate hydraulic systems in heavy machinery. Bill wants to expand his market share by three share points. Total industry sales are $120 million; M.E. Inc. sales are $30 million with a gross margin of $1.2 million. The total industry marketing expenditures are $4 million; M.E.’s current marketing budget is $1 million. What is the amount of the gain/loss M.E. Inc. will experience if they make the investment to acquire three additional market share points, and should M.E. Inc. make this investment?
Adam is the manager of “Cars Plus” and has been experiencing a sharp sales decline. He has decided that the plan he had designed for his company should work under normal circumstances. He realizes that the current problem can be resolved by improving implementation. What should he focus on first (the most important element) in order to improve implementation?
has profit-and-loss responsibility for an entire product line, across two or more brands.
A category manager:
A market-product grid highlights potential synergies.
Which of the following is an advantage inherent in the use of market-product grids?
The Marketing Audit
Jonny Tsunami works for Splash Surfboards, Inc. His job is to monitor the company’s marketing efforts, how it is doing in the market, and the relationships with its customers and stakeholders. Currently, he is focusing on a qualitative approach that examines all aspects of their marketing strategy. This control phase approach is known as:
The “control phase” of the strategic marketing process involves comparing quantified goals with the actual results to identify deviations, identify the causes of any deviations, and formulae new plans and actions based on these findings. In this quiz question, the marketing audit shows Tom that he needs to take corrective action, which means to fix problems that are found.
Tom is in charge of marketing for KC Toys. Tom hired an outside firm to perform a marketing audit, which reviews the marketing department’s efficiency and effectiveness. After receiving the audit Tom realized that KC needed to take corrective action and rethink their marketing plan. This is an example of which aspect of the strategic marketing process?
Your company currently holds 20% market share of the tennis equipment industry, with a gross margin of $6,000,000. Your new goal is to expand the company’s market share to 22%. Suppose the overall industry generates $70,000,000 in sales revenue and has a marketing effort of $16,000,000. Using a competitive parity approach, how much money should you add to your firm’s marketing effort to gain two more market share points?
that an additional $1 of marketing effort results in far greater increases in sales revenue in the mid-range than at either end.
The relationship of annual marketing effort to annual sales revenue is assumed to be an S-shaped curve. Thus, a graph of the sales response function shows:
cost focus
According to Porter’s four generic business strategies model, a _____ strategy involves controlling expenses and, in turn, lowering prices in a narrow range of markets.
sales analysis
David, the Sales Manager of Quality Homes Inc., noticed that his sales were significantly lower last quarter, which was particularly odd since sales have had an upward trend for the past few years. David conducted an analysis of the sales reps in his region and discovered that many of them were not meeting their minimum quotas. What aspect of the marketing control process has David utilized?
E to F
The buzz on the street is that Coca-Cola is creating Mocha-Fizz, a new coffee-flavored soda to be sold exclusively at Dunkin’ Donuts. The brand manager at Pepsi wishes to beat Coca-Cola to the punch and introduce Cafe Pepsi first. To shorten the time required to launch Cafe Pepsi, five alternatives in the below PERT chart are available. Of these, the brand manager should focus on shortening the time required to go from:
Wham-O has designed a new concept for a “stealth” Frisbee (players have to wear special glasses to see it) and is preparing to launch it. At present, it exists in concept only. The tasks to be completed are denoted by the circled letters, while the number of months required to complete each task are shown by the numeral text to each line. Using the PERT chart below, determine Wham-O’s critical path.
A sales response function shows the relationship between marketing expense and sales revenue and is generally assumed to be:
Assume Bob of “Gut-Bomb Burgers” Corp. would like to increase his company’s market share by one share point to a total of nine percent. The burger industry’s total marketing effort is $50 million. Bob is currently spending $4 million on marketing. How much additional money would Bob have to invest in marketing to increase his company’s market share by one share point?
Paralysis by Analysis
Alex is a brand manager at a large corporation. For the last 14 months he has been reading and re-reading all the research data that has been gathered about the market for a new product the company is going to launch. He realizes that he has wasted too much time in his review of the data and needs to improve the implementation of his marketing plan by “just doing it”. Alex is attempting to overcome what problem?
Estimate firm’s return on investment
Share point analysis includes all of the following steps EXCEPT:

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