Question 1

A firm's __________ are timeless, capturing its heart and soul, and serve to inspire and motivate its stakeholders.

Accepted Answer

A) core values 
B) strategic goals 
C) offerings 
D) corporate culture 
E) corporate ethos 
A) core values 
B) strategic goals 
C) offerings 
D) corporate culture 
E) corporate ethos

Question 2

Specialized functions such as marketing and finance are generally referred to as __________.

Accepted Answer

A) teams 
B) groups 
C) divisions 
D) departments 
E) business units 
A) teams 
B) groups 
C) divisions 
D) departments 
E) business units

Question 3

Which of the following statements 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 a Facebook advertising initiative within 90 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 a Facebook advertising initiative within 90 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 4

When Starbucks announced that it would release a new single-serve Verismo high-pressure brewing machines sale in its U.S. outlets, it was 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 5

Introducing its Champion heart pacemaker at medical conventions across Asia to demonstrate its many beneficial features is an example of Medtronic's

Accepted Answer

A) market segmentation and targeting strategy. 
B) price strategy. 
C) place strategy. 
D) promotion strategy. 
E) product/service strategy. 
A) market segmentation and targeting strategy. 
B) price strategy. 
C) place strategy. 
D) promotion strategy. 
E) product/service strategy.

Question 6

The marketing strategy of selling new products to current markets is referred to as __________.

Accepted Answer

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

Question 7

-In Figure 2-2 above, B represents the "what" element of visionary organization. This is referred to as __________.

Accepted Answer

A) organizational tactics 
B) organizational mission 
C) organizational foundation 
D) organizational direction 
E) organizational strategies 
A) organizational tactics 
B) organizational mission 
C) organizational foundation 
D) organizational direction 
E) organizational strategies

Question 8

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

Accepted Answer

A) divert funds to other SBUs. 
B) reduce advertising for it. 
C) inject cash into it. 
D) reduce the feature set for it. 
E) decrease the market growth rate. 
A) divert funds to other SBUs. 
B) reduce advertising for it. 
C) inject cash into it. 
D) reduce the feature set for it. 
E) decrease the market growth rate.

Question 9

The marketing strategy to sell current products to new markets is referred to as __________.

Accepted Answer

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

Question 10

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) __________; and (4) execute the marketing program.

Accepted Answer

A) position the product 
B) select target markets 
C) define precise tasks, responsibilities, and deadlines 
D) find points of difference 
E) develop the budget by estimating revenues, expenses, and profits 
A) position the product 
B) select target markets 
C) define precise tasks, responsibilities, and deadlines 
D) find points of difference 
E) develop the budget by estimating revenues, expenses, and profits

Question 11

The number one consumer complaint about bananas is how soon they start getting brown spots. Dole most likely set a(n) __________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30% of the firm) to make a creamy, guilt-free dessert.

Accepted Answer

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

Question 12

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix. The vertical axis of this matrix indicates

Accepted Answer

A) the annual rate of growth of the firm's largest competitor. 
B) the relative dollar ($) market share of the largest competitor. 
C) the annual rate of growth of the SBU's industry. 
D) the relative unit (#) market share of the largest competitor. 
E) the annual rate of growth of the firm itself. 
A) the annual rate of growth of the firm's largest competitor. 
B) the relative dollar ($) market share of the largest competitor. 
C) the annual rate of growth of the SBU's industry. 
D) the relative unit (#) market share of the largest competitor. 
E) the annual rate of growth of the firm itself.

Question 13

Explain what a planning gap is and what is used to close it.

Accepted Answer

A planning gap is the difference between

Question 14

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. Question marks are SBUs that are classified as having

Accepted Answer

A) high market growth rates and high relative market shares. 
B) low market growth rates but high relative market shares. 
C) low market growth rates and low relative market shares. 
D) high market growth rates but low relative market shares. 
E) medium market growth rates and medium relative market shares. 
A) high market growth rates and high relative market shares. 
B) low market growth rates but high relative market shares. 
C) low market growth rates and low relative market shares. 
D) high market growth rates but low relative market shares. 
E) medium market growth rates and medium relative market shares.

Question 15

If Ben & Jerry's sold more units of its Bonnaroo Buzz Fair Trade-sourced super premium ice cream to U.S. consumers as a result of increased promotion while keeping its price per pint the same, 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 16

The strategic business unit level

Accepted Answer

A) works most directly with the organization's target customers. 
B) directs the overall strategy for the organization. 
C) is most likely to change substantially over time. 
D) provides more end-user analysis in order to design more customer-directed products. 
E) is the level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities. 
A) works most directly with the organization's target customers. 
B) directs the overall strategy for the organization. 
C) is most likely to change substantially over time. 
D) provides more end-user analysis in order to design more customer-directed products. 
E) is the level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities.

Question 17

Netflix is a company that rents DVD movies and television either by mail or streaming over the Internet. It jumped into an industry where there were many competitors, both local and national video stores. Initially, it established a loyal clientele by providing a service that was not available - reliable and fast shipment. Its delivery system created Netflix's

Accepted Answer

A) viable mission. 
B) competitive advantage. 
C) tactical innovation. 
D) core benefit. 
E) sales orientation. 
A) viable mission. 
B) competitive advantage. 
C) tactical innovation. 
D) core benefit. 
E) sales orientation.

Question 18

Organizations that develop similar offerings, when grouped together, create a(n)

Accepted Answer

A) conglomerate. 
B) merger. 
C) industry. 
D) sector. 
E) monopoly. 
A) conglomerate. 
B) merger. 
C) industry. 
D) sector. 
E) monopoly.

Question 19

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4) __________.

Accepted Answer

A) position the product 
B) select target markets 
C) find points of difference 
D) execute the marketing program 
E) develop the budget by estimating revenues, expenses, and profits 
A) position the product 
B) select target markets 
C) find points of difference 
D) execute the marketing program 
E) develop the budget by estimating revenues, expenses, and profits

Question 20

Solarcom is a 30-year-old information technology company that owns several subsidiaries. One of its subsidiaries is Atlantix Global Systems, which is one of the leading wholesalers for refurbished computer equipment that has a large share of an industry that is growing worldwide. According to the BCG business portfolio analysis framework, Atlantix Global would most likely be classified as a __________.

Accepted Answer

A) dog 
B) cash cow 
C) question mark 
D) hedgehog 
E) star 
A) dog 
B) cash cow 
C) question mark 
D) hedgehog 
E) star

A firm's __________ are timeless, capturing its heart and soul, and serve to inspire and motivate its stakeholders.

Specialized functions such as marketing and finance are generally referred to as __________.

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

When Starbucks announced that it would release a new single-serve Verismo high-pressure brewing machines sale in its U.S. outlets, it was using a __________ strategy.

Introducing its Champion heart pacemaker at medical conventions across Asia to demonstrate its many beneficial features is an example of Medtronic's

The marketing strategy of selling new products to current markets is referred to as __________.

-In Figure 2-2 above, B represents the "what" element of visionary organization. This is referred to as __________.

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

The marketing strategy to sell current products to new markets is referred to as __________.

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) __________; and (4) execute the marketing program.

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix. The vertical axis of this matrix indicates

Explain what a planning gap is and what is used to close it.

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. Question marks are SBUs that are classified as having

If Ben & Jerry's sold more units of its Bonnaroo Buzz Fair Trade-sourced super premium ice cream to U.S. consumers as a result of increased promotion while keeping its price per pint the same, it would be using a __________ strategy.

The strategic business unit level

Organizations that develop similar offerings, when grouped together, create a(n)

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4) __________.

Creating Customer Relationships and Value Through Marketing

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

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

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

Exam 2: Developing Successful Organizational and Marketing Strategies

A firm's __________ are timeless, capturing its heart and soul, and serve to inspire and motivate its stakeholders.

Specialized functions such as marketing and finance are generally referred to as __________.

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

When Starbucks announced that it would release a new single-serve Verismo high-pressure brewing machines sale in its U.S. outlets, it was using a __________ strategy.

Introducing its Champion heart pacemaker at medical conventions across Asia to demonstrate its many beneficial features is an example of Medtronic's

The marketing strategy of selling new products to current markets is referred to as __________.

-In Figure 2-2 above, B represents the "what" element of visionary organization. This is referred to as __________.

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

The marketing strategy to sell current products to new markets is referred to as __________.

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) __________; and (4) execute the marketing program.

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix. The vertical axis of this matrix indicates

Explain what a planning gap is and what is used to close it.

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. Question marks are SBUs that are classified as having

If Ben & Jerry's sold more units of its Bonnaroo Buzz Fair Trade-sourced super premium ice cream to U.S. consumers as a result of increased promotion while keeping its price per pint the same, it would be using a __________ strategy.

The strategic business unit level

Organizations that develop similar offerings, when grouped together, create a(n)

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4) __________.

Creating Customer Relationships and Value Through Marketing

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

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

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters