Question 1

Strategy refers to

Accepted Answer

A) an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals. 
B) an organization's corporate tactical or action plan. 
C) statements of an accomplishment of a task to be achieved by a certain time. 
D) a statement of the organization's function in society, often identifying its customers, markets, product, and technologies. 
E) a road map for the entire organization for a specified future period of time, such as one or five years. 
A) an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals. 
B) an organization's corporate tactical or action plan. 
C) statements of an accomplishment of a task to be achieved by a certain time. 
D) a statement of the organization's function in society, often identifying its customers, markets, product, and technologies. 
E) a road map for the entire organization for a specified future period of time, such as one or five years.

Question 2

A situation analysis refers to

Accepted Answer

A) taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it. 
B) an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment. 
C) the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. 
D) a technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were separate investments. 
E) the process where a firm searches for growth opportunities from among current and new markets as well as current and new products. 
A) taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it. 
B) an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment. 
C) the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. 
D) a technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were separate investments. 
E) the process where a firm searches for growth opportunities from among current and new markets as well as current and new products.

Question 3

Recently, St. Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year. The hospital touts universal values to "keep healthcare human" and employees consistently put patients first, which unites them in a common goal. Hospital President Kathy Young believes that St. Joseph __________ makes both her employees and patients happier in her hospital.

Accepted Answer

A) vision 
B) service offerings 
C) organizational culture 
D) pathos 
E) behavioral protocol 
A) vision 
B) service offerings 
C) organizational culture 
D) pathos 
E) behavioral protocol

Question 4

-According to Figure 2-3a above, which of the following is the largest Website Traffic Source?

Accepted Answer

A) YouTube 
B) Direct traffic 
C) Google 
D) Facebook 
E) Twitter 
A) YouTube 
B) Direct traffic 
C) Google 
D) Facebook 
E) Twitter

Question 5

The term that encompasses and organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is referred to as its

Accepted Answer

A) stakeholders. 
B) stockholders. 
C) competitors. 
D) target audience. 
E) organizational society. 
A) stakeholders. 
B) stockholders. 
C) competitors. 
D) target audience. 
E) organizational society.

Question 6

-According to Figure 2-3b above, which of the following SBUs has the LOWEST YTD revenue compared to its target?

Accepted Answer

A) Hardware 
B) Electronics 
C) Software 
D) Peripherals 
E) Grand Total 
A) Hardware 
B) Electronics 
C) Software 
D) Peripherals 
E) Grand Total

Question 7

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 8

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as __________.

Accepted Answer

A) plans 
B) procedures 
C) strategies 
D) core values 
E) goals 
A) plans 
B) procedures 
C) strategies 
D) core values 
E) goals

Question 9

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

Accepted Answer

A) business agencies 
B) nonprofit organizations 
C) government agencies 
D) cooperatives 
E) social service agencies 
A) business agencies 
B) nonprofit organizations 
C) government agencies 
D) cooperatives 
E) social service agencies

Question 10

One way a company can benefit from implementing a market penetration strategy would be to

Accepted Answer

A) sell more products at a lower price in new markets. 
B) sell the same amount of product at a higher price in the same market. 
C) find a new market and sell the product at a much higher price. 
D) alter the product and sell it to a new market. 
E) reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets. 
A) sell more products at a lower price in new markets. 
B) sell the same amount of product at a higher price in the same market. 
C) find a new market and sell the product at a much higher price. 
D) alter the product and sell it to a new market. 
E) reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets.

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 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

If Ben & Jerry's starts selling Bonnaroo Buzz Fair Trade-sourced super premium ice cream in Brazil for the first time, it will be using a __________ strategy.

Accepted Answer

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

Question 13

Which of the following statements regarding Ben & Jerry's is most accurate?

Accepted Answer

A) Ben & Jerry's is owned by Unilever, the market leader in the global ice cream industry. 
B) Ben & Jerry's is a privately owned ice cream producer. 
C) Ben & Jerry's prides itself on offering more ice cream flavors than its competitors. 
D) Ben and Jerry are not real people; the names were a clever reference to Tom and Jerry cartoon characters in order to capitalize on childhood nostalgia. 
E) Ben & Jerry's has only been in business for twenty years and is already the industry leader in premium ice cream. 
A) Ben & Jerry's is owned by Unilever, the market leader in the global ice cream industry. 
B) Ben & Jerry's is a privately owned ice cream producer. 
C) Ben & Jerry's prides itself on offering more ice cream flavors than its competitors. 
D) Ben and Jerry are not real people; the names were a clever reference to Tom and Jerry cartoon characters in order to capitalize on childhood nostalgia. 
E) Ben & Jerry's has only been in business for twenty years and is already the industry leader in premium ice cream.

Question 14

-In Figure 2-1 above, Box A represents the

Accepted Answer

A) functional level. 
B) board of directors. 
C) corporate level. 
D) CEO. 
E) strategic business unit level. 
A) functional level. 
B) board of directors. 
C) corporate level. 
D) CEO. 
E) strategic business unit level.

Question 15

Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set __________ goals.

Accepted Answer

A) sales 
B) quality 
C) market share 
D) profit 
E) employee welfare 
A) sales 
B) quality 
C) market share 
D) profit 
E) employee welfare

Question 16

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

Accepted Answer

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

Question 17

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A) causes dissension between different divisions when one is labeled a "star" and another a "dog." 
B) reduces employee motivation to move a low valued SBU to a higher one. 
C) considers too many SBU factors beyond market growth rate and relative market share. 
D) does not require sales forecasts in order to be implemented. 
E) is often difficult to obtain the needed information to correctly place SBUs in the matrix. 
A) causes dissension between different divisions when one is labeled a "star" and another a "dog." 
B) reduces employee motivation to move a low valued SBU to a higher one. 
C) considers too many SBU factors beyond market growth rate and relative market share. 
D) does not require sales forecasts in order to be implemented. 
E) is often difficult to obtain the needed information to correctly place SBUs in the matrix.

Question 18

Evergreen Air Center is the world's biggest parking lot for unwanted aircraft. Airlines pay a monthly fee from $750 to $5,000 to mothball their unneeded airplanes there. Its location is on 1,600 acres of Arizona desert near Tucson. The Southwest climate of dry, warm air serves as a cheap and effective airplane preservative against rust. Evergreen's location is a(n)

Accepted Answer

A) competency. 
B) sustainable advantage. 
C) competitive identity. 
D) core benefit proposition. 
E) innovative distinction. 
A) competency. 
B) sustainable advantage. 
C) competitive identity. 
D) core benefit proposition. 
E) innovative distinction.

Question 19

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a __________.

Accepted Answer

A) business plan 
B) marketing objective 
C) marketing plan 
D) marketing strategy 
E) marketing program 
A) business plan 
B) marketing objective 
C) marketing plan 
D) marketing strategy 
E) marketing program

Question 20

Procter & Gamble (P&G) is a consumer packaged goods company where innovation is a key competitive advantage. This allows the firm to develop new products like Crest Whitestrips that consumers crave. P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P&G would indicate that innovation in product design and marketing is a(n) __________ for the firm.

Accepted Answer

A) strength 
B) weakness 
C) threat 
D) opportunity 
E) problem 
A) strength 
B) weakness 
C) threat 
D) opportunity 
E) problem

Strategy refers to

A situation analysis refers to

-According to Figure 2-3a above, which of the following is the largest Website Traffic Source?

The term that encompasses and organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is referred to as its

-According to Figure 2-3b above, which of the following SBUs has the LOWEST YTD revenue compared to its target?

The key to all scheduling techniques is to

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as __________.

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

One way a company can benefit from implementing a market penetration strategy would be to

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

If Ben & Jerry's starts selling Bonnaroo Buzz Fair Trade-sourced super premium ice cream in Brazil for the first time, it will be using a __________ strategy.

Which of the following statements regarding Ben & Jerry's is most accurate?

-In Figure 2-1 above, Box A represents the

Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set __________ goals.

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

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a __________.

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

Strategy refers to

A situation analysis refers to

-According to Figure 2-3a above, which of the following is the largest Website Traffic Source?

The term that encompasses and organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is referred to as its

-According to Figure 2-3b above, which of the following SBUs has the LOWEST YTD revenue compared to its target?

The key to all scheduling techniques is to

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as __________.

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

One way a company can benefit from implementing a market penetration strategy would be to

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

If Ben & Jerry's starts selling Bonnaroo Buzz Fair Trade-sourced super premium ice cream in Brazil for the first time, it will be using a __________ strategy.

Which of the following statements regarding Ben & Jerry's is most accurate?

-In Figure 2-1 above, Box A represents the

Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set __________ goals.

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

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a __________.

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