Exam 2: Developing Successful Organizational and Marketing Strategies

IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

A marketing plan is developed during which phase of the strategic marketing process?

Core values refer to

In its business portfolio analysis, an organization's SBUs often start as __________ and eventually become __________.

Hasbro is a $4-plus billion 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(n)

Points of difference refer to

A campus service organization annually raises money through the sale of T-shirts. What are the major components of the marketing program it should use to increase sales? Give one example of each.

Diversification refers to the marketing strategy of

Designing a car is expensive and time-consuming even with the use of computers because of the difficulty of getting all the varied departments that are 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 a(n)

Figure 2-2 -According to Figure 2-2 above, what are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment?

A campus service organization annually raises money through the sale of T-shirts. How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

A key role of the marketing department is to "look outward." This is accomplished by

A small businesswoman was preparing her staff for the upcoming holiday season. Her women's apparel retail store has had a great year - sales and profits were up 20 percent. In a meeting with her sales staff before opening the store on Black Friday, the day after Thanksgiving, she said, "We want to move as much inventory as possible. Not only can we highlight our holiday items, why don't we also mark down some of our other seasonal items while people are in a shopping mood?" From this statement, she is concerned with a __________ goal.

The Ben & Jerry's website states: "Central to the mission of Ben & Jerry's is the belief that all three parts [product mission, economic mission, social mission] must thrive equally in a manner that commands deep respect for individuals in and outside the company and supports the communities of which they are a part." This statement reflects Ben & Jerry's

When using a __________ strategy, there is no change in either the basic product line or the markets served. Instead, increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the __________ level, where groups of specialists actually create value for the organization.

An industry refers to

Which of the following is NOT an example of an industry?

The corporate level in an organization is where

Offering a Champion brand heart pacemaker with only the features needed by Asian patients is an example of Medtronic's