Strategic Marketing
Textbook Exam Questions
Course Introduction
Strategic Marketing explores the frameworks, tools, and analytical techniques essential for making effective marketing decisions at a strategic level. The course examines how organizations analyze market opportunities, develop and implement marketing strategies, and create value for customers and stakeholders in competitive environments. Topics include market segmentation, targeting, positioning, competitive analysis, branding, and the integration of the marketing mix. Students learn to align marketing strategies with overall business objectives and to adapt to rapidly changing market conditions using evidence-based decision-making.
Recommended Textbook
New Products Management 10th Edition by C.
Merle Crawford
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Page 2
Chapter 1: The Strategic Elements of Product Development
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Q1) New-to-the-world products are the least common form of new products.
A)True
B)False
Answer: False
Q2) P&G's Ivory Soap and Tide powder laundry detergent have been revised numerous times throughout their history.Identify the product category that these products would BEST fit into.
A)Line extensions
B)New-to-the-firm products
C)New-to-the-world products
D)Product improvements
Answer: D
Q3) Discuss the terms "product innovation" and "process innovation."
Answer: The term "process innovation" usually applies to functions,especially the manufacturing or distribution process,and every new product benefits from this type of innovation.
The term "product innovation" applies to the total operation by which a new product is created and marketed,and it includes innovation in all of the functional processes.
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3
Chapter 2: The New Products Process
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Q1) Using the cash-to-cash metric to complement speed-to-market helps the firm manage just the moment of launch,not the whole launch phase.
A)True
B)False
Answer: False
Q2) Services are mass produced.
A)True
B)False
Answer: False
Q3) Identify the product definition that includes the intended market user,the problem perceived,the benefits,plus any mandatory features.
A)Protocol concept
B)Tested concept
C)Fully screened concept
D)Stated concept
Answer: A
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Page 4
Chapter 3: Opportunity Identification and Selection: Strategic Planning for New Products
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Q1) What are the various ways of implementing the first to market strategy? Explain with examples.
Answer: First-to-market is a risky strategy.It goes by several other names,including pioneering.There are three ways to get it,the first of which is by state-of-the-art breakthrough.Pharmaceutical firms use that route most of the time.Other products that came from such programs include bubble memory,the pacemaker,compact discs,and television.But most first-to-market products do not extend the state of the art;instead they tweak technology in a new way.This second way,sometimes called leveraged creativity,constitutes the most common first-to-market category.For example,DuPont researchers find the special properties (such as durability or oil and grease resistance)of synthetic materials such as Surlyn and Kevlar,then think up creative applications to arrive at new products.Surlyn's grease resistance led to its application in the meat packing industry.The third way to be first is applications engineering,where the technology may not be changed at all,but the use is totally new.Loctite has done this dozens of times,for example,by using glue to replace metal fasteners in electronics and automotive products.
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Chapter 4: Creativity and the Product Concept
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Q1) Teltos Inc. ,is seeking ways to motivate its "creative types." Which of the following ways can be considered by the firm to encourage creativity?
A)Not imposing any rules and regulations on the innovators.
B)Assignments for the innovators should be selected by the top management.
C)Allowing free time for innovation.
D)Giving group rewards for innovation.
Q2) Many firms seek to elicit new product ideas from their ____,that is,the customers associated with a significant current trend.
A)resellers
B)vendors
C)inventors
D)lead users
Q3) 3M used a program called IDEA (identify,develop,expose,and action)to encourage creative thinking.
A)True
B)False
Q4) Briefly describe the three inputs required in the creation process.
Q5) Discuss the toolkits for user innovation method.
Q6) Discuss the advantages and risks of open innovation.
Page 6
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Chapter 5: Finding and Solving Customers Problems
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Q1) Discuss the use of internal records in identifying sources of problem.Give some examples.
Q2) Herman Corporation is investigating the changes it must be prepared to make in order to be competitive in 2020,so that it can solve the future problems and have solutions ready to market when the time comes.The firm's efforts can be BEST described as a(n):
A)focus group study.
B)dynamic leap study.
C)observational study.
D)wild card study.
Q3) One of the dimensions of sorting and ranking the problems used by the bothersome technique is the:
A)cost of resolving the problem.
B)frequency of problem occurrence.
C)time required for problem resolution.
D)complexity of the problem.
Q4) Describe the focus group method.
Q5) Speedstorming involves stating an idea only to have someone shoot it down.
A)True
B)False
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Chapter 6: Analytical Attribute Approaches: Introduction and
Perceptual Mapping
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Q1) _____ is a statistical technique which uses maps of the market to determine how various products are perceived by how they are positioned on the market map.
A)SWOT analysis
B)Gap analysis
C)Risk analysis
D)Trend analysis
Q2) OS techniques:
A)run on perceptions of overall similarities between pairs of brands.
B)require customers to rate choices on individual attributes.
C)essentially view products as bundles of attributes.
D)result in formidable data cubes.
Q3) Determinant gap maps are speedy and cost-efficient.
A)True
B)False
Q4) Analytical attribute techniques are felt to be more useful in Eastern culture than in Western.
A)True
B)False
Q5) What are the three types of gap maps?
Page 8
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Chapter 7: Analytical Attribute Approaches: Trade-Off
Analysis and Qualitative Techniques
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Q1) Identify the creativity template,presented by Goldenberg and Mazursky,which removes an intrinsic component and its function so as to functionally change the product.
A)Attribute dependency template
B)Displacement template
C)Replacement template
D)Component control template
Q2) Explain the terms "utility lever" and "buyer's experience cycle."
Q3) Which of the following characteristics is unique to a morphological matrix?
A)It is a technique used for perceptual mapping.
B)It is the simplest format for studying relationships.
C)It simultaneously combines more than two dimensions.
D)It may result in new product ideas that do not emerge in any other way.
Q4) A full-profile conjoint analysis is one for which we obtain information on all possible levels of all the product's attributes.
A)True
B)False
Q5) How does relationships analysis differ from other concept-generating methods? Identify the two types of relationships analysis techniques.
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Chapter 8: The Concept Evaluation System
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Q1) In this risk strategy,risk is reduced to an acceptable,threshold level,perhaps through redesigning the product to include more backup systems or increasing product reliability.
A)Mitigation
B)Avoidance
C)Passive acceptance
D)Transfer
Q2) Development is naturally iterative.
A)True
B)False
Q3) Which of the following can provide the data needed for the A-T-A-R model?
A)The cumulative expenditure curve
B)Income statement of the firm
C)Market test
D)The decay curve
Q4) Briefly describe how the purpose of evaluation varies through each stage of the new product development process.
Q5) A go error is worse than a drop error.
A)True
B)False
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Chapter 9: Concept Testing
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Q1) Which of the following eliminates the greatest number of product ideas?
A)The PIC
B)Market testing
C)Attribute testing
D)Preference testing
Q2) The real-time response survey combines the best features of focus groups and surveys and has proved useful in screening new consumer product concepts.
A)True
B)False
Q3) The optimum proportion of attributes desired by a market can be identified with the help of ____.
A)attribute calibration
B)preference regression
C)progression vectors
D)factor analysis
Q4) Discuss uses of concept testing.
Q5) Pre-BASES is a concept test that provides rough sales predictions. A)True
B)False
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Chapter 10: The Full Screen
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Q1) Culling factors,as specified by the PIC Charter,may lead to the rejection of a concept that has overall "passing" scores.
A)True
B)False
Q2) Why is the use of weights in scoring models subject to serious criticism?
A)Weightings are necessarily judgmental
B)They cannot be measured using sensitivity analysis
C)They use all-or-nothing,yes-or-no answers as factors
D)They can be used only for open-ended questions
Q3) When combining the individual team member's ratings,if the factors being scored have all-or-nothing,yes-or-no answers,then these factors should be handled by using:
A)benefit segmentation for the given factors.
B)the end points on the semantic differential scale,with no gradations.
C)the Olympic method of dropping the highest and lowest ratings.
D)the risk-payoff model of factor screening.
Q4) Discuss the role of a product champion.
Q5) Explain the analytic hierarchy process.
Q6) Discuss the objectives of full screen.
Q7) Discuss the NewProd screening model.
Page 12
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Chapter 11: Sales Forecasting and Financial Analysis
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Q1) In theory,individuals in which of the following adopter categories initially influence the purchase behaviors of others,through word of mouth and other influence processes?
A)Early adopters
B)Early majority
C)Late majority
D)Laggards
Q2) Management's primary task in sales forecasting is to:
A)purchase state-of-the-art forecasting models.
B)make necessary estimates as solid as possible.
C)ensure that all past sales records are accurately archived.
D)conduct training on sales forecasting.
Q3) Which of the following is NOT a key factor in the Hoechst-U.S.scoring model?
A)Probability of technical success
B)Probability of commercial success
C)Competitive response
D)Strategic leverage
Q4) The A-T-A-R model is the basis of many simulated test markets.
A)True
B)False
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Chapter 12: Product Protocol
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Q1) In practice,the first step of QFD is the HOQ.
A)True
B)False
Q2) If done right,the protocol gives requirements in words that can usually be measured and thus permits a development process to be managed.
A)True
B)False
Q3) The attempt to explain to the consumer why a specific product is the best choice for the solution to a specified problem is at the root of _____.
A)product positioning
B)product innovation charters
C)wildcatting
D)researching
Q4) Product protocol can help cut development time and accelerate the time to market by providing better product definition.
A)True
B)False
Q5) Discuss the general purposes of the product protocol statement.
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Chapter 13: Design
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Q1) A fully functional,full-size product prototype that is essentially ready for examination by potential customers would be best described as a _____ prototype.
A)comprehensive
B)focused
C)limited
D)modified
Q2) _____ design is the term sometimes used to mean the design of products to be usable by anyone regardless of age or ability.
A)Universal
B)Exclusive
C)Individualistic
D)Unique
Q3) Firms that are concerned with,or seek to promote,environmental concerns and / or recycling are most likely to employ design for _____.
A)disassembly
B)ergonomics
C)manufacturability
D)servicing
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Chapter 14: Development Team Management
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Q1) The lower the projectization,the more the power leans toward the project manager.
A)True
B)False
Q2) The ideal culture for innovative new products is one of _____.
A)functional discipline
B)secrecy
C)collaboration
D)departmental loyalty
Q3) "Empowerment" is really just another term for delegation.
A)True
B)False
Q4) Virtual teams can meet in synchronous or asynchronous mode.
A)True
B)False
Q5) If product development entails only minor variations to a standard product,higher projectization is the preferred option.
A)True
B)False
Q6) What are the various conflict management styles?
Page 16
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Chapter 15: Product Use Testing
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Q1) Testing should continue for a new product until the team is satisfied that:
A)it solves the problems expressed in the original protocol.
B)all manufacturing difficulties have been smoothened out.
C)the infrastructure for full scale production has been set up.
D)all the processes till the prototyping phase have been successfully completeD.
Q2) Describe the four types of product use tests.
Q3) The initial,quick test predicts the early reactions of _____;failure here,even if perceptions are unjustified,often dooms a good product.
A)early adopters
B)innovators
C)early majority
D)laggards
Q4) The first stage of case-based research is _____ during which the developer interviews users to learn their expectations and how they will likely use the product.
A)alpha testing
B)pre-use sense testing
C)investigation
D)beta testing
Q5) Describe alpha,beta,and gamma testing.
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Chapter 16: Strategic Launch Planning
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Q1) A firm should not launch a new product unless it intends to stay in the market permanently.
A)True
B)False
Q2) A wide range of product identifiers such as brand name,packaging,product color,and a host of other factors constitute the _____.
A)trade dress
B)product mark
C)service mark
D)secondary mark
Q3) The most expensive and risky stage of the new product development process is often _____.
A)prototyping
B)product use testing
C)ideation
D)commercialization
Q4) The packaging decision centers on a person most often called the director of packaging.
A)True
B)False
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Chapter 17: Implementation of the Strategic Plan
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Q1) When a firm removes competitors' products from customer shelves to fill them with its own products,it is known as _____.
A)illegal distribution
B)stocklifting
C)slotting
D)stocking
Q2) Firms attempting to increase penetration in existing markets are most likely to be emphasizing _____.
A)defensive additions
B)offensive improvements
C)preannouncements
D)new-to-the-world products
Q3) Typically,the copy strategy statement should be written by _____.
A)the finance manager
B)the product development / launch team
C)the CEO
D)copywriters
Q4) Large firms are more likely to preannounce than firms with smaller share.
A)True
B)False
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Chapter 18: Market Testing
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Q1) Which of the following statements is NOT true regarding market testing?
A)There is a growing trend toward quicker,less costly market testing methods.
B)Test marketing is now a relatively minor market testing technique.
C)Test marketing,being more accurate is replacing scanner based methods.
D)Many firms have replaced the traditional test market with a product rollout.
Q2) The speculative sale approach is most likely to be used in all of the following situations,EXCEPT where:
A)the new product work is technical,entrenched within a firm's expertise,and only little reaction is needed from the marketplace.
B)industrial firms have very close downstream relationships with key buyers.
C)the adventure has very high risk and thus a costlier method is defendable.
D)the item is new and key diagnostics are needeD.
Q3) Controlled-distribution scanner markets (CDSMs)are based on scanner technology and have received much attention in the _____ field.
A)industrial services
B)consumer packaged goods
C)consumer durables
D)industrial goods
Q4) Explain test marketing with an example.
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Chapter 19: Launch Management
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Q1) In attempting to develop a list of potential problems,which of the following techniques tries to simulate what competitors will do after they have heard of the new product?
A)Role-play
B)Situation analysis
C)A-T-A-R model
D)Hierarchy of effects model
Q2) A tracking variable is _____ if it identifies the problem.
A)measurable
B)continuous
C)relevant
D)predictable
Q3) If the market situation is particularly difficult when the product appears to be in decline and solutions lie only in longer-time product changes,it may be necessary to:
A)give a greater push to the product.
B)increase all marketing communications substantially.
C)hold the market in a freeze until a solution is found.
D)increase production to flood markets for greater visibility.
Q4) Briefly describe the steps involved in the typical launch management system.
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Chapter 20: Public Policy Issues
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Q1) One of the key defenses available to a manufacturer in the case of a product liability suit is assumption of risk by the user.
A)True
B)False
Q2) _____ often leads us to explore the minds of customers to find something they want or will want when they hear about it.
A)Brainstorming
B)Situation analysis
C)Concept generation
D)Prototyping
Q3) A manufacturer may produce an acceptable product but may still get into trouble if it fails to provide adequate instructions for use or warnings against particular uses.
A)True
B)False
Q4) Currently,product design is the most complex and frustrating of the social / legal problems faced by firms.
A)True
B)False
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