Question 1

A mission statement has as its primary focus the product and how to make it.

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

Michael Porter draws a firm distinction between operational effectiveness and a strategy.Briefly describe this distinction and identify when a company can claim that it has a strategy.

Accepted Answer

Competitors can quickly copy the operati

Question 4

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) own all intermediaries who come in contact with the goods and services 
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) own all intermediaries who come in contact with the goods and services 
C) own and nurture the resources and competencies 
D) emphasize global promotions 
E) segment the workforces

Question 5

The holistic marketing framework is designed to address three key management questions.Which of the following is one of those questions?

Accepted Answer

A) Value claims-how does the company deal with value erosion? 
B) Value proposition-how can value propositions be made profitable? 
C) Value chain-are there weak links in the company's value chain? 
D) Value network-how can a company effectively network? 
E) Value exploration-how can a company identify new value opportunities? 
A) Value claims-how does the company deal with value erosion? 
B) Value proposition-how can value propositions be made profitable? 
C) Value chain-are there weak links in the company's value chain? 
D) Value network-how can a company effectively network? 
E) Value exploration-how can a company identify new value opportunities?

Question 6

The task of any business is to deliver ________ at a profit.

Accepted Answer

A) customer needs 
B) products 
C) customer value 
D) products and services 
E) improved quality 
A) customer needs 
B) products 
C) customer value 
D) products and services 
E) improved quality

Question 7

Most marketing plans conclude with a section that indicates how the plan will be implemented.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following terms most closely matches to "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

Question 9

The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.

Accepted Answer

A) choosing the value 
B) market research 
C) target marketing 
D) service consideration 
E) projective thinking 
A) choosing the value 
B) market research 
C) target marketing 
D) service consideration 
E) projective thinking

Question 10

A holistic marketing orientation can provide insight into the process of capturing customer value and is designed to address three key management questions.Describe and illustrate each of these key management questions.

Accepted Answer

The three management questions are: (1)v

Question 11

The marketing plan should open with a situation analysis.

Accepted Answer

A) True 
 B)False

Question 12

A good illustration of a market definition of the business a company is in would be "We sell gasoline."

Accepted Answer

A) True 
 B)False

Question 13

Briefly summarize the contents of a marketing plan.

Accepted Answer

The contents of a marketing plan include

Question 14

Abbot Laboratories warehouses and delivers 3M's medical and surgical products to hospitals across the United States.The best description of this form of alliance would a ________.

Accepted Answer

A) product alliance 
B) logistics alliance 
C) pricing collaboration 
D) network alliance 
E) promotional alliance 
A) product alliance 
B) logistics alliance 
C) pricing collaboration 
D) network alliance 
E) promotional alliance

Question 15

Goodwin's Grocery has decided to purchase a meat-processing plant to gain more control of its beef supply and improve profits.Which form of integrative growth strategy has Goodwin's employed?

Accepted Answer

Goodwin's has select

Question 16

The firm's success depends both on how well each department performs its work,and on how well the various departmental activities are coordinated to conduct ________.

Accepted Answer

A) core strategies 
B) satellite businesses 
C) core values 
D) core business processes 
E) core technologies 
A) core strategies 
B) satellite businesses 
C) core values 
D) core business processes 
E) core technologies

Question 17

A ________ is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives.

Accepted Answer

A) strategic plan 
B) marketing plan 
C) sales plan 
D) target market plan 
E) competitive analysis plan 
A) strategic plan 
B) marketing plan 
C) sales plan 
D) target market plan 
E) competitive analysis plan

Question 18

The company's ________ can be described in terms of breadth-broad versus focused scope of business;and depth-physical versus knowledge-based capabilities.

Accepted Answer

A) business mission 
B) core strategy 
C) cognitive space 
D) competency space 
E) resource space 
A) business mission 
B) core strategy 
C) cognitive space 
D) competency space 
E) resource space

Question 19

When Yahoo! began to flounder in the 2001,CEO Terry Semel imposed a more conservative,buttoned-down atmosphere on the freewheeling Internet start-up.At the new Yahoo!,spontaneity is out and order is in.What term is most closely applied to this organizational change phenomenon? Be sure to explain what the term means with respect to this example.

Accepted Answer

The correct term would be corp

Question 20

Segmentation,targeting,and positioning constitute the essence of strategic marketing.

Accepted Answer

A) True 
 B)False

Exam 2: Developing Marketing Strategies and Plans

A mission statement has as its primary focus the product and how to make it.

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).

Michael Porter draws a firm distinction between operational effectiveness and a strategy.Briefly describe this distinction and identify when a company can claim that it has a strategy.

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

The holistic marketing framework is designed to address three key management questions.Which of the following is one of those questions?

The task of any business is to deliver ________ at a profit.

Most marketing plans conclude with a section that indicates how the plan will be implemented.

Which of the following terms most closely matches to "the shared experiences,stories,beliefs,and norms that characterize an organization"?

The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.

A holistic marketing orientation can provide insight into the process of capturing customer value and is designed to address three key management questions.Describe and illustrate each of these key management questions.

The marketing plan should open with a situation analysis.

A good illustration of a market definition of the business a company is in would be "We sell gasoline."

Briefly summarize the contents of a marketing plan.

Abbot Laboratories warehouses and delivers 3M's medical and surgical products to hospitals across the United States.The best description of this form of alliance would a ________.

Goodwin's Grocery has decided to purchase a meat-processing plant to gain more control of its beef supply and improve profits.Which form of integrative growth strategy has Goodwin's employed?

The firm's success depends both on how well each department performs its work,and on how well the various departmental activities are coordinated to conduct ________.

A ________ is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives.

The company's ________ can be described in terms of breadth-broad versus focused scope of business;and depth-physical versus knowledge-based capabilities.

Segmentation,targeting,and positioning constitute the essence of strategic marketing.

Defining Marketing for the 21st Century

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing With Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

Filters