Question 1

In marketing, an organization refers to

Accepted Answer

A)  a legal entity that consists of people who share a common mission. 
B)  a group of people united through contractual or corporate ownership. 
C)  a legal entity engaged in business activities solely with the intent of making a profit. 
D)  a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit. 
E)  a privately owned entity that serves its customers to earn a profit so that it can survive. 
A)  a legal entity that consists of people who share a common mission. 
B)  a group of people united through contractual or corporate ownership. 
C)  a legal entity engaged in business activities solely with the intent of making a profit. 
D)  a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit. 
E)  a privately owned entity that serves its customers to earn a profit so that it can survive.

Question 2

The key to all scheduling techniques is to

Accepted Answer

A)  avoid scheduling tasks that can be done concurrently. 
B)  avoid tasks that must be done sequentially. 
C)  make sure to allow a 20 percent delay factor to account for contingencies. 
D)  assign responsibility for end results to the entire group rather than a single individual. 
E)  distinguish tasks that must be done sequentially from those that can be done concurrently. 
A)  avoid scheduling tasks that can be done concurrently. 
B)  avoid tasks that must be done sequentially. 
C)  make sure to allow a 20 percent delay factor to account for contingencies. 
D)  assign responsibility for end results to the entire group rather than a single individual. 
E)  distinguish tasks that must be done sequentially from those that can be done concurrently.

Question 3

Men's Wearhouse caters to the man who doesn't necessarily enjoy shopping. Its stores are in free-standing locations (not inside the mall) so customers can get in and out quickly. Additionally, Men's Wearhouse targets the budget-conscious consumer with suit prices ranging from $150 to $850. The location of its stores and its pricing strategy both are part of Men's Wearhouse's

Accepted Answer

A)  competitive advantage. 
B)  core values. 
C)  core benefit proposition. 
D)  marketing edge. 
E)  viable mission. 
A)  competitive advantage. 
B)  core values. 
C)  core benefit proposition. 
D)  marketing edge. 
E)  viable mission.

Question 4

What are the marketing mix elements that make up a cohesive marketing program?

Accepted Answer

Figure 2-8 in the text illustrates the p

Question 5

In which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, define tasks and deadlines, and execute the marketing program?

Accepted Answer

A)  Planning phase 
B)  Implementation phase 
C)  Evaluation phase 
D)  Strategic phase 
E)  Tactics phase 
A)  Planning phase 
B)  Implementation phase 
C)  Evaluation phase 
D)  Strategic phase 
E)  Tactics phase

Question 6

The primary purpose of a marketing metric is to

Accepted Answer

A)  assign qualitative values to quantitative data. 
B)  allow the sharing of information across product lines. 
C)  measure the quantitative value of a marketing activity. 
D)  forecast potential product/service opportunities over a period of five years. 
E)  provide a numerically precise measurement of management judgment for an industry's growth. 
A)  assign qualitative values to quantitative data. 
B)  allow the sharing of information across product lines. 
C)  measure the quantitative value of a marketing activity. 
D)  forecast potential product/service opportunities over a period of five years. 
E)  provide a numerically precise measurement of management judgment for an industry's growth.

Question 7

The Boston Consulting Group uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings

Accepted Answer

A)  as if each were a separate investment. 
B)  to establish their worth to society at large. 
C)  to determine which would be suited for a SWOT analysis. 
D)  to determine which units are candidates for diversification analysis. 
E)  to determine which units can be divided into smaller, tactical business units. 
A)  as if each were a separate investment. 
B)  to establish their worth to society at large. 
C)  to determine which would be suited for a SWOT analysis. 
D)  to determine which units are candidates for diversification analysis. 
E)  to determine which units can be divided into smaller, tactical business units.

Question 8

________ is the visual computer display of the essential information related to achieving a marketing objective.

Accepted Answer

A)  A marketing metric 
B)  An output report 
C)  A marketing dashboard 
D)  An information monitor 
E)  A data interface 
A)  A marketing metric 
B)  An output report 
C)  A marketing dashboard 
D)  An information monitor 
E)  A data interface

Question 9

To develop a successful marketing plan for a soft drink, the process of ________ would most likely be used to group consumers on the basis of whether they prefer sugar-free and caffeine-free soda, caffeine-free sugared soda, or regular soda with sugar and caffeine.

Accepted Answer

A)  market aggregation 
B)  product alignment 
C)  customer grouping 
D)  mass marketing 
E)  market segmentation 
A)  market aggregation 
B)  product alignment 
C)  customer grouping 
D)  mass marketing 
E)  market segmentation

Question 10

Eileen Fisher is a leader in sustainable fashion. In November of 2018, shoppers could visit an Eileen Fisher Renew pop-up shop in Bellingham, WA, to purchase gently worn or slightly flawed pieces as a way to lessen the fashion footprint. Use of a pop-up shop to sell these items is one of Eileen Fisher's

Accepted Answer

A)  missions. 
B)  visions. 
C)  strategies. 
D)  tactics. 
E)  customer value. 
A)  missions. 
B)  visions. 
C)  strategies. 
D)  tactics. 
E)  customer value.

Question 11

Suppose L. L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set ________ goal.

Accepted Answer

A)  a profit 
B)  a customer satisfaction 
C)  a market share 
D)  an employee welfare 
E)  a social responsibility 
A)  a profit 
B)  a customer satisfaction 
C)  a market share 
D)  an employee welfare 
E)  a social responsibility

Question 12

The clear, broad, underlying industry or market sector of an organization's offerings is its

Accepted Answer

A)  business. 
B)  trade group. 
C)  market. 
D)  competitive set. 
E)  product grouping. 
A)  business. 
B)  trade group. 
C)  market. 
D)  competitive set. 
E)  product grouping.

Question 13

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

Accepted Answer

The planning phase of the strategic mark

Question 14

An organizational foundation

Accepted Answer

A)  specifies the firm's goals. 
B)  defines the business that it is in. 
C)  empowers stakeholders to have a voice in the strategic marketing process. 
D)  is its philosophical reason for being-why it exists. 
E)  is the company, its product, and its customers. 
A)  specifies the firm's goals. 
B)  defines the business that it is in. 
C)  empowers stakeholders to have a voice in the strategic marketing process. 
D)  is its philosophical reason for being-why it exists. 
E)  is the company, its product, and its customers.

Question 15

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is referred to as

Accepted Answer

A)  a sales proportionality. 
B)  a marketing metric. 
C)  an industry potential. 
D)  a contribution margin. 
E)  a market share. 
A)  a sales proportionality. 
B)  a marketing metric. 
C)  an industry potential. 
D)  a contribution margin. 
E)  a market share.

Question 16

Which of these best describes the principal or direct competitors to Lands' End, the catalog and online clothing retailer?

Accepted Answer

A)  All Internet retailers 
B)  Other Internet retailers that sell primarily clothing 
C)  All other lifestyle brands 
D)  Other clothing retailers, both online and store-only 
E)  Other retailers that began selling with catalogs 
A)  All Internet retailers 
B)  Other Internet retailers that sell primarily clothing 
C)  All other lifestyle brands 
D)  Other clothing retailers, both online and store-only 
E)  Other retailers that began selling with catalogs

Question 17

Central features of a Gantt chart include four main items, including the

Accepted Answer

A)  deadline to complete a task. 
B)  budget. 
C)  product or service. 
D)  points of difference. 
E)  promotional message. 
A)  deadline to complete a task. 
B)  budget. 
C)  product or service. 
D)  points of difference. 
E)  promotional message.

Question 18

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

Accepted Answer

A)  starting the planning process anew. 
B)  executing the marketing program. 
C)  tracking sales and revenues and comparing with competitors. 
D)  developing the budget by estimating revenues, expenses, and profits. 
E)  exploiting positive deviations and correcting negative ones. 
A)  starting the planning process anew. 
B)  executing the marketing program. 
C)  tracking sales and revenues and comparing with competitors. 
D)  developing the budget by estimating revenues, expenses, and profits. 
E)  exploiting positive deviations and correcting negative ones.

Question 19

If Target opened a pop-up shop in the United Kingdom, where it currently has no stores, to sell Brexit memorabilia, it would be using a ________ strategy.

Accepted Answer

A)  product development 
B)  market development 
C)  market penetration 
D)  diversification 
E)  market saturation 
A)  product development 
B)  market development 
C)  market penetration 
D)  diversification 
E)  market saturation

Question 20

Step 2 in the planning phase of the strategic marketing process consists of

Accepted Answer

A)  the situation (SWOT) analysis. 
B)  market-product focus and customer value proposition. 
C)  the marketing program. 
D)  business portfolio analysis. 
E)  diversification analysis. 
A)  the situation (SWOT) analysis. 
B)  market-product focus and customer value proposition. 
C)  the marketing program. 
D)  business portfolio analysis. 
E)  diversification analysis.

Exam 2: Developing Successful Organizational and Marketing Strategies

In marketing, an organization refers to

The key to all scheduling techniques is to

What are the marketing mix elements that make up a cohesive marketing program?

In which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, define tasks and deadlines, and execute the marketing program?

The primary purpose of a marketing metric is to

The Boston Consulting Group uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings

________ is the visual computer display of the essential information related to achieving a marketing objective.

To develop a successful marketing plan for a soft drink, the process of ________ would most likely be used to group consumers on the basis of whether they prefer sugar-free and caffeine-free soda, caffeine-free sugared soda, or regular soda with sugar and caffeine.

Suppose L. L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set ________ goal.

The clear, broad, underlying industry or market sector of an organization's offerings is its

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

An organizational foundation

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is referred to as

Which of these best describes the principal or direct competitors to Lands' End, the catalog and online clothing retailer?

Central features of a Gantt chart include four main items, including the

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

If Target opened a pop-up shop in the United Kingdom, where it currently has no stores, to sell Brexit memorabilia, it would be using a ________ strategy.

Step 2 in the planning phase of the strategic marketing process consists of

Creating Customer Relationships and Value Through Marketing

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: the Strategic Marketing Proces

Building an Effective Marketing Plan

Financial Aspects of Marketing

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