Question 1

Partner relationship management is now considered as a core skill fundamental to the development and maintenance of strategic alliances.

Accepted Answer

A) True 
 B)False

Question 2

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).

Accepted Answer

A)  operations processes 
B)  manufacturing processes 
C)  primary activities 
D)  secondary activities 
E)  tertiary activities 
A)  operations processes 
B)  manufacturing processes 
C)  primary activities 
D)  secondary activities 
E)  tertiary activities

Question 3

What are hollow corporations?

Accepted Answer

A)  companies that market their products through franchisees 
B)  companies that have liabilities exceeding their assets 
C)  companies that outsource all production to suppliers 
D)  companies that do not have any physical presence and only operate online 
E)  companies that are horizontally integrated 
A)  companies that market their products through franchisees 
B)  companies that have liabilities exceeding their assets 
C)  companies that outsource all production to suppliers 
D)  companies that do not have any physical presence and only operate online 
E)  companies that are horizontally integrated

Question 4

Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.

Accepted Answer

A)  process benchmarks 
B)  distinctive capabilities 
C)  distributive capabilities 
D)  facultative benchmarks 
E)  concentric capabilities 
A)  process benchmarks 
B)  distinctive capabilities 
C)  distributive capabilities 
D)  facultative benchmarks 
E)  concentric capabilities

Question 5

Hot Topic, a chain that sells rock-band-inspired clothes for teens, recently launched Torrid to give plus-size teens the same fashion options. Identify the three parts of the value delivery process and their function for Hot Topic.

Accepted Answer

The first phase, choosing the value, rep

Question 6

A characteristic of a ________ unit is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.

Accepted Answer

A)  strategic business 
B)  subsidiary 
C)  merged 
D)  niche market 
E)  specialized business 
A)  strategic business 
B)  subsidiary 
C)  merged 
D)  niche market 
E)  specialized business

Question 7

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.

Accepted Answer

A)  market-penetration 
B)  market-development 
C)  diversification 
D)  product-development 
E)  exclusive 
A)  market-penetration 
B)  market-development 
C)  diversification 
D)  product-development 
E)  exclusive

Question 8

Describe the characteristics a core competency should possess.

Accepted Answer

Core competency has three char

Question 9

Which of the following plans would most likely include directions for implementing and addressing daily challenges and opportunities in product features, promotion, merchandising, pricing, sales channels, and service areas?

Accepted Answer

A)  the tactical marketing plan 
B)  the target marketing plan 
C)  the deployment plan 
D)  the product-launch plan 
E)  the product-development plan 
A)  the tactical marketing plan 
B)  the target marketing plan 
C)  the deployment plan 
D)  the product-launch plan 
E)  the product-development plan

Question 10

To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage strategic alliances as core skills. This is called ________.

Accepted Answer

A)  value managed partnership 
B)  decentralized partnership 
C)  centralized partnership 
D)  partner relationship management 
E)  intensive growth management 
A)  value managed partnership 
B)  decentralized partnership 
C)  centralized partnership 
D)  partner relationship management 
E)  intensive growth management

Question 11

The key to utilizing organizational core competencies is to ________ that make up the essence of the business.

Accepted Answer

A)  force organizational departments to justify the budgetary components 
B)  vertically integrate and own all intermediaries 
C)  own and nurture the resources and competencies 
D)  emphasize global promotions 
E)  segment the workforces 
A)  force organizational departments to justify the budgetary components 
B)  vertically integrate and own all intermediaries 
C)  own and nurture the resources and competencies 
D)  emphasize global promotions 
E)  segment the workforces

Question 12

From its origins as an animated film producer, Walt Disney Company has moved into licensing characters for merchandised goods and developed theme parks and vacation and resort properties. What strategy best describes Disney's growth?

Accepted Answer

Disney has employed a diversif

Question 13

Explain how risk analysis is used to estimate profits.

Accepted Answer

In risk analysis, we obtain three estima

Question 14

For an MBO system (manage by objectives) to work, the business unit attempting to implement the process must meet four criteria. What are those criteria?

Accepted Answer

The criteria are:
1. they must be arrang

Question 15

When two service businesses, H&R Block and Hyatt Legal Services, combined their efforts, they also joined marketing forces to create a strong alliance. This would classify as which type of strategic alliance? Explain your answer.

Accepted Answer

This alliance is called a prod

Question 16

The customer relationship management process involves all the activities related to receiving and approving orders, shipping the goods on time, and collecting payment.

Accepted Answer

A) True 
 B)False

Question 17

What is the traditional view of marketing?

Accepted Answer

A)  Firms should just focus on production because if the products are good then they will automatically sell. 
B)  Firms should just focus on production and selling because marketing occurs as a part of the selling process. 
C)  Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. 
D)  Firms should price their products as low as possible so that marketing them becomes easy. 
E)  Firms should remember that promotion is the most important of the four Ps. 
A)  Firms should just focus on production because if the products are good then they will automatically sell. 
B)  Firms should just focus on production and selling because marketing occurs as a part of the selling process. 
C)  Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. 
D)  Firms should price their products as low as possible so that marketing them becomes easy. 
E)  Firms should remember that promotion is the most important of the four Ps.

Question 18

The ________ sphere is the number of channel levels, from raw materials to final product and distribution, in which a company will participate.

Accepted Answer

A)  industry 
B)  vertical 
C)  product/application 
D)  competence 
E)  market segment 
A)  industry 
B)  vertical 
C)  product/application 
D)  competence 
E)  market segment

Question 19

In the cycle of complete strategic planning, taking corrective action is a part of ________.

Accepted Answer

A)  planning 
B)  implementation 
C)  controlling 
D)  organizing 
E)  analyzing 
A)  planning 
B)  implementation 
C)  controlling 
D)  organizing 
E)  analyzing

Question 20

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

Accepted Answer

A)  organizational dynamics 
B)  a business mission 
C)  an ethical/value statement 
D)  customer relationships 
E)  corporate culture 
A)  organizational dynamics 
B)  a business mission 
C)  an ethical/value statement 
D)  customer relationships 
E)  corporate culture

Exam 2: Developing Marketing Strategies and Plans

Partner relationship management is now considered as a core skill fundamental to the development and maintenance of strategic alliances.

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).

What are hollow corporations?

Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.

Hot Topic, a chain that sells rock-band-inspired clothes for teens, recently launched Torrid to give plus-size teens the same fashion options. Identify the three parts of the value delivery process and their function for Hot Topic.

A characteristic of a ________ unit is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.

Describe the characteristics a core competency should possess.

Which of the following plans would most likely include directions for implementing and addressing daily challenges and opportunities in product features, promotion, merchandising, pricing, sales channels, and service areas?

To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage strategic alliances as core skills. This is called ________.

The key to utilizing organizational core competencies is to ________ that make up the essence of the business.

From its origins as an animated film producer, Walt Disney Company has moved into licensing characters for merchandised goods and developed theme parks and vacation and resort properties. What strategy best describes Disney's growth?

Explain how risk analysis is used to estimate profits.

For an MBO system (manage by objectives) to work, the business unit attempting to implement the process must meet four criteria. What are those criteria?

When two service businesses, H&R Block and Hyatt Legal Services, combined their efforts, they also joined marketing forces to create a strong alliance. This would classify as which type of strategic alliance? Explain your answer.

The customer relationship management process involves all the activities related to receiving and approving orders, shipping the goods on time, and collecting payment.

What is the traditional view of marketing?

The ________ sphere is the number of channel levels, from raw materials to final product and distribution, in which a company will participate.

In the cycle of complete strategic planning, taking corrective action is a part of ________.

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

Defining Marketing for the New Realities

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

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