Question 1

All of the following are examples of stakeholders except which?

Accepted Answer

A)  Government 
B)  Competitors 
C)  Shareholders 
D)  Suppliers 
E)  Customers 
A)  Government 
B)  Competitors 
C)  Shareholders 
D)  Suppliers 
E)  Customers

Question 2

Organizational culture refers to

Accepted Answer

A)  the personal moral and ethical codes of an organization's top management. 
B)  a written statement expressing an organization's goals and objectives to be achieved through enacting a comprehensive strategic plan. 
C)  the fundamental, passionate, and enduring principles that guide an organization's conduct over time. 
D)  the ethos of an organization that excludes its core values. 
E)  a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization. 
A)  the personal moral and ethical codes of an organization's top management. 
B)  a written statement expressing an organization's goals and objectives to be achieved through enacting a comprehensive strategic plan. 
C)  the fundamental, passionate, and enduring principles that guide an organization's conduct over time. 
D)  the ethos of an organization that excludes its core values. 
E)  a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.

Question 3

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children, since this group and their parents comprise the target market for its business. This is an example of a ________ goal.

Accepted Answer

A)  unit sales 
B)  market share 
C)  social responsibility 
D)  sales revenue 
E)  customer satisfaction 
A)  unit sales 
B)  market share 
C)  social responsibility 
D)  sales revenue 
E)  customer satisfaction

Question 4

In the BCG business portfolio model, a relative market share of 10 × at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1 × at the right end of the scale on its horizontal axis means that

Accepted Answer

A)  the SBU has only 10 percent of the share of its average competitor. 
B)  the SBU has 100 percent of the share of its largest competitor. 
C)  the growth rate between the SBU and the next largest competitor is actually identical. 
D)  the SBU has only 10 percent of the share of its largest competitor. 
E)  the industry growth rate is declining. 
A)  the SBU has only 10 percent of the share of its average competitor. 
B)  the SBU has 100 percent of the share of its largest competitor. 
C)  the growth rate between the SBU and the next largest competitor is actually identical. 
D)  the SBU has only 10 percent of the share of its largest competitor. 
E)  the industry growth rate is declining.

Question 5

________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Accepted Answer

A)  An exchange 
B)  A countertrade 
C)  A profit center 
D)  An offering 
E)  An industry 
A)  An exchange 
B)  A countertrade 
C)  A profit center 
D)  An offering 
E)  An industry

Question 6

If Dr. Pepper Snapple Group plans to grow its proportion of the flavors segment of the carbonated soft drink industry to 45 percent, it has set ________ goal.

Accepted Answer

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

Question 7

An organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is a

Accepted Answer

A)  marketing device. 
B)  policy. 
C)  strategy. 
D)  plan. 
E)  tactic. 
A)  marketing device. 
B)  policy. 
C)  strategy. 
D)  plan. 
E)  tactic.

Question 8

Which is not an example of an industry?

Accepted Answer

A)  software firms 
B)  automobile companies 
C)  fashion companies 
D)  government agencies 
E)  cable television organizations 
A)  software firms 
B)  automobile companies 
C)  fashion companies 
D)  government agencies 
E)  cable television organizations

Question 9

Figure 2-5
-The image depicted in Figure 2-5 above represents what strategic analysis technique?

Accepted Answer

A)  Gantt chart 
B)  SWOT analysis 
C)  Pert chart 
D)  BCG growth-share matrix 
E)  Diversification analysis 
A)  Gantt chart 
B)  SWOT analysis 
C)  Pert chart 
D)  BCG growth-share matrix 
E)  Diversification analysis

Question 10

Employees at fashion apparel company, the Sak Elliot Lucca work to embody its ________, which include trust (being honest and credible), action (making independent decisions), and ownership (treating the company as if one were a founder).

Accepted Answer

A)  sustainability doctrines 
B)  goals and objectives 
C)  core values 
D)  moral imperatives 
E)  functional strategies 
A)  sustainability doctrines 
B)  goals and objectives 
C)  core values 
D)  moral imperatives 
E)  functional strategies

Question 11

By understanding its core values, an organization can take steps to define its ________, a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.

Accepted Answer

A)  customer value proposition 
B)  doctrine 
C)  philosophy 
D)  mission 
E)  code of ethics 
A)  customer value proposition 
B)  doctrine 
C)  philosophy 
D)  mission 
E)  code of ethics

Question 12

Which statement regarding an organization's strategic business unit level is most accurate?

Accepted Answer

A)  The strategic business unit level is the level that works most directly with an organization's targeted customers. 
B)  The overall strategy for the organization is directed at the strategic business unit level. 
C)  In the most complex organizations, the corporate level and the strategic business unit level may merge. 
D)  More end-user analysis is provided at the strategic business unit level than at the functional level. 
E)  The strategic direction is more specific at the strategic business unit level than at the corporate level. 
A)  The strategic business unit level is the level that works most directly with an organization's targeted customers. 
B)  The overall strategy for the organization is directed at the strategic business unit level. 
C)  In the most complex organizations, the corporate level and the strategic business unit level may merge. 
D)  More end-user analysis is provided at the strategic business unit level than at the functional level. 
E)  The strategic direction is more specific at the strategic business unit level than at the corporate level.

Question 13

FreeWill is an organization created to help make estate planning warm, accessible, and totally free so that users can easily care for the people and causes they love. To date, more than 32,000 people have used the service to create a will, and they have committed more than $373 million to charity. FreeWill is an example of

Accepted Answer

A)  a cooperative. 
B)  an industry. 
C)  a nonprofit organization. 
D)  a business firm. 
E)  a government agency. 
A)  a cooperative. 
B)  an industry. 
C)  a nonprofit organization. 
D)  a business firm. 
E)  a government agency.

Question 14

The ________ element of the marketing mix includes personal selling and advertising.

Accepted Answer

A)  product 
B)  price 
C)  promotion 
D)  place 
E)  people 
A)  product 
B)  price 
C)  promotion 
D)  place 
E)  people

Question 15

Though it started first as a limousine service and became a ridesharing service, Uber recently redefined its business with the addition of UberRush, UberEats, and UberJump, and now considers itself to be in the ________ business.

Accepted Answer

A)  restaurant 
B)  digital or physical mail 
C)  logistics 
D)  transportation 
E)  warehousing 
A)  restaurant 
B)  digital or physical mail 
C)  logistics 
D)  transportation 
E)  warehousing

Question 16

Which statement would most likely be heard at the functional level of an organization?

Accepted Answer

A)  "We need to divest our Canadian operations that are performing poorly." 
B)  "How large a budget can we allot to the marketing department?" 
C)  "We plan to implement an Instagram advertising initiative within 60 days." 
D)  "We should hire the most culturally diverse cross-functional team possible in order to generate the best new-product ideas." 
E)  "What dividends should we pay stockholders next quarter?" 
A)  "We need to divest our Canadian operations that are performing poorly." 
B)  "How large a budget can we allot to the marketing department?" 
C)  "We plan to implement an Instagram advertising initiative within 60 days." 
D)  "We should hire the most culturally diverse cross-functional team possible in order to generate the best new-product ideas." 
E)  "What dividends should we pay stockholders next quarter?"

Question 17

Designing a car is expensive and time-consuming even with the use of computers because of the difficulty of getting all the varied departments to work together. Mercedes-Benz created a unique centralized web-based system that cuts the design and production process by at least two years, thus providing customer value. This is an example of

Accepted Answer

A)  a point of similarity. 
B)  an innovation-oriented mission. 
C)  an action program. 
D)  an operational goal implementation. 
E)  a competency. 
A)  a point of similarity. 
B)  an innovation-oriented mission. 
C)  an action program. 
D)  an operational goal implementation. 
E)  a competency.

Question 18

Market development refers to the marketing strategy of

Accepted Answer

A)  increasing sales of current products in current markets. 
B)  selling new products to new markets. 
C)  selling new products to current markets. 
D)  selling the same brands in both current and new markets. 
E)  selling current products to new markets. 
A)  increasing sales of current products in current markets. 
B)  selling new products to new markets. 
C)  selling new products to current markets. 
D)  selling the same brands in both current and new markets. 
E)  selling current products to new markets.

Question 19

Which of these is a core value underlying business practices at IBM?

Accepted Answer

A)  fast failure in research and development 
B)  honoring the contributions of important leaders 
C)  rapid but sustainable growth 
D)  influencing of popular culture 
E)  innovation that matters for the company and for the world 
A)  fast failure in research and development 
B)  honoring the contributions of important leaders 
C)  rapid but sustainable growth 
D)  influencing of popular culture 
E)  innovation that matters for the company and for the world

Question 20

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Accepted Answer

A)  situation analysis 
B)  customer value proposition 
C)  marketing program 
D)  implementation 
E)  market segmentation 
A)  situation analysis 
B)  customer value proposition 
C)  marketing program 
D)  implementation 
E)  market segmentation

Exam 2: Developing Successful Organizational and Marketing Strategies

All of the following are examples of stakeholders except which?

Organizational culture refers to

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children, since this group and their parents comprise the target market for its business. This is an example of a ________ goal.

In the BCG business portfolio model, a relative market share of 10 × at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1 × at the right end of the scale on its horizontal axis means that

________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

If Dr. Pepper Snapple Group plans to grow its proportion of the flavors segment of the carbonated soft drink industry to 45 percent, it has set ________ goal.

An organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is a

Which is not an example of an industry?

Figure 2-5 -The image depicted in Figure 2-5 above represents what strategic analysis technique?

Employees at fashion apparel company, the Sak Elliot Lucca work to embody its ________, which include trust (being honest and credible), action (making independent decisions), and ownership (treating the company as if one were a founder).

By understanding its core values, an organization can take steps to define its ________, a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.

Which statement regarding an organization's strategic business unit level is most accurate?

The ________ element of the marketing mix includes personal selling and advertising.

Though it started first as a limousine service and became a ridesharing service, Uber recently redefined its business with the addition of UberRush, UberEats, and UberJump, and now considers itself to be in the ________ business.

Which statement would most likely be heard at the functional level of an organization?

Market development refers to the marketing strategy of

Which of these is a core value underlying business practices at IBM?

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

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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