Question 1

All of the following are marketing actions that can be taken as a result of a SWOT analysis EXCEPT:

Accepted Answer

A) exploit an opportunity. 
B) correct a weakness. 
C) avoid a disaster-laden threat. 
D) build on a strength. 
E) secure the necessary resources (financial, human, technological) to fund new SBUs. 
A) exploit an opportunity. 
B) correct a weakness. 
C) avoid a disaster-laden threat. 
D) build on a strength. 
E) secure the necessary resources (financial, human, technological) to fund new SBUs.

Question 2

Social entrepreneurs are usually structured as __________.

Accepted Answer

A) business firms 
B) subchapter S corporations 
C) nonprofit organizations 
D) governmental agencies 
E) 501 (c) 3 for profit organizations 
A) business firms 
B) subchapter S corporations 
C) nonprofit organizations 
D) governmental agencies 
E) 501 (c) 3 for profit organizations

Question 3

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is referred to as its __________.

Accepted Answer

A) mission statement 
B) core value proposition 
C) organizational culture 
D) corporate philosophy 
E) core benefit proposition 
A) mission statement 
B) core value proposition 
C) organizational culture 
D) corporate philosophy 
E) core benefit proposition

Question 4

__________ applies innovative approaches to organize, create, and manage a venture to solve the practical needs of society and is usually structured as a nonprofit organization.

Accepted Answer

A) Corporate welfare 
B) A social entrepreneur 
C) Sustainable development 
D) Cause marketing 
E) Societal capitalism 
A) Corporate welfare 
B) A social entrepreneur 
C) Sustainable development 
D) Cause marketing 
E) Societal capitalism

Question 5

St. Jude Medical makes cardiovascular medical devices, including the world's most widely used mechanical heart valve. Its products include tissue heart valves, pacemakers, and implantable cardiovascular defibrillators. St. Jude's innovation in cardiac devices helps it outperform rivals, and thus provides it with a

Accepted Answer

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

Question 6

Which of the following statements about strategy is most accurate?

Accepted Answer

A) An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets. 
B) The marketing department helps to both set an organization's direction and move it there. 
C) The American Marketing Association (AM
A)  recently has established the definition of strategy. 
D) Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards. 
E) Only start-up organizations must develop strategies to help them raise capital as well as focus and direct their efforts to accomplish their goals. 
A) An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets. 
B) The marketing department helps to both set an organization's direction and move it there. 
C) The American Marketing Association (AM
A)  recently has established the definition of strategy. 
D) Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards. 
E) Only start-up organizations must develop strategies to help them raise capital as well as focus and direct their efforts to accomplish their goals.

Question 7

Apple launched its revolutionary iPhone in 2007 as the first smartphone that used a multi-touch user interface. iPhone unit sales were explosive at first but have now leveled off, leaving Apple with just 15 percent market share compared to Samsung's 41 percent. Through 2017, the smartphone market is expected to remain healthy and grow at a compound annual rate of 13 percent due to dropping prices. Apple's iPod SBU appears to be a __________.

Accepted Answer

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

Question 8

Explain what a Gantt chart is and how it is used.

Accepted Answer

A Gantt chart is a graphical representat

Question 9

Which of the following statements reflects the key elements in developing a marketing strategy for L. M. Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Accepted Answer

A) Buy ads in all the major trade journals that explain the variety of surfaces available and what uses each has. 
B) Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths. 
C) Design a sample ad and test it using visitors at a trade show. 
D) Hire six new sales representatives for the Midwest regional office and train them on all aspects of concrete surfaces. 
E) Conduct a focus group to decide on which surface to use for a theme park in Brazil. 
A) Buy ads in all the major trade journals that explain the variety of surfaces available and what uses each has. 
B) Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths. 
C) Design a sample ad and test it using visitors at a trade show. 
D) Hire six new sales representatives for the Midwest regional office and train them on all aspects of concrete surfaces. 
E) Conduct a focus group to decide on which surface to use for a theme park in Brazil.

Question 10

-What is the name of the tool shown in Figure 2-10 above that is the basis for the scheduling techniques used today in marketing?

Accepted Answer

A) a market-product grid 
B) a Gantt chart 
C) a project schedule 
D) a sales response function 
E) a Plan-A-Gram 
A) a market-product grid 
B) a Gantt chart 
C) a project schedule 
D) a sales response function 
E) a Plan-A-Gram

Question 11

A(n) __________ is a legal entity that consists of people who share a common mission.

Accepted Answer

A) department 
B) organization 
C) SBU 
D) industry 
E) market 
A) department 
B) organization 
C) SBU 
D) industry 
E) market

Question 12

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

Accepted Answer

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

Question 13

Businesses sometimes pursue a(n) __________ goal to balance the conflicting goals of stakeholders to promote their overall welfare, even at the expense of profits.

Accepted Answer

A) customer satisfaction 
B) shareholder 
C) profit minimization 
D) social responsibility 
E) employee welfare 
A) customer satisfaction 
B) shareholder 
C) profit minimization 
D) social responsibility 
E) employee welfare

Question 14

The strategies an organization develops to provide value to the customers it serves is called a(n)

Accepted Answer

A) mission statement. 
B) objective goal. 
C) vision statement. 
D) business model. 
E) protocol. 
A) mission statement. 
B) objective goal. 
C) vision statement. 
D) business model. 
E) protocol.

Question 15

People in the finance and the human resources departments traditionally operate at what organizational level?

Accepted Answer

A) corporate level 
B) top management level 
C) strategic business unit level 
D) functional level 
E) stakeholder level 
A) corporate level 
B) top management level 
C) strategic business unit level 
D) functional level 
E) stakeholder level

Question 16

-In Figure 2-1 above, E represents the __________ operating at the lowest strategic level.

Accepted Answer

A) board of directors 
B) corporate level 
C) departments 
D) executives 
E) strategic business unit level 
A) board of directors 
B) corporate level 
C) departments 
D) executives 
E) strategic business unit level

Question 17

-Consider the Lands' End ad above. Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed. Period."

Accepted Answer

A) competitive advantage 
B) core values 
C) core benefit proposition 
D) customers 
E) mission statement 
A) competitive advantage 
B) core values 
C) core benefit proposition 
D) customers 
E) mission statement

Question 18

Step 1 in the planning phase of the strategic marketing process involves __________.

Accepted Answer

A) establishing the budget 
B) developing the marketing program 
C) setting goals 
D) auditing the marketing plan 
E) conducting a situation (SWOT) analysis 
A) establishing the budget 
B) developing the marketing program 
C) setting goals 
D) auditing the marketing plan 
E) conducting a situation (SWOT) analysis

Question 19

-All of the following retailers are principal or direct competitors to Lands' End EXCEPT:

Accepted Answer

A) Amazon.com 
B) Sears 
C) L.L. Bean 
D) Target 
E) Pierre Cardin 
A) Amazon.com 
B) Sears 
C) L.L. Bean 
D) Target 
E) Pierre Cardin

Question 20

Medtronic is the world leader in producing heart pacemakers and other medical devices. Earl Bakken, Medtronic's founder, wrote its mission statement when he launched the firm over a half century ago. Summarize Medtronic's mission statement and comment as to why it is a good one.

Accepted Answer

Medtronic's mission statement reads: "To

All of the following are marketing actions that can be taken as a result of a SWOT analysis EXCEPT:

Social entrepreneurs are usually structured as __________.

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is referred to as its __________.

__________ applies innovative approaches to organize, create, and manage a venture to solve the practical needs of society and is usually structured as a nonprofit organization.

Which of the following statements about strategy is most accurate?

Explain what a Gantt chart is and how it is used.

Which of the following statements reflects the key elements in developing a marketing strategy for L. M. Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

-What is the name of the tool shown in Figure 2-10 above that is the basis for the scheduling techniques used today in marketing?

A(n) __________ is a legal entity that consists of people who share a common mission.

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

Businesses sometimes pursue a(n) __________ goal to balance the conflicting goals of stakeholders to promote their overall welfare, even at the expense of profits.

The strategies an organization develops to provide value to the customers it serves is called a(n)

People in the finance and the human resources departments traditionally operate at what organizational level?

-In Figure 2-1 above, E represents the __________ operating at the lowest strategic level.

-Consider the Lands' End ad above. Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed. Period."

Step 1 in the planning phase of the strategic marketing process involves __________.

-All of the following retailers are principal or direct competitors to Lands' End EXCEPT:

Medtronic is the world leader in producing heart pacemakers and other medical devices. Earl Bakken, Medtronic's founder, wrote its mission statement when he launched the firm over a half century ago. Summarize Medtronic's mission statement and comment as to why it is a good one.

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

All of the following are marketing actions that can be taken as a result of a SWOT analysis EXCEPT:

Social entrepreneurs are usually structured as __________.

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is referred to as its __________.

__________ applies innovative approaches to organize, create, and manage a venture to solve the practical needs of society and is usually structured as a nonprofit organization.

Which of the following statements about strategy is most accurate?

Explain what a Gantt chart is and how it is used.

Which of the following statements reflects the key elements in developing a marketing strategy for L. M. Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

-What is the name of the tool shown in Figure 2-10 above that is the basis for the scheduling techniques used today in marketing?

A(n) __________ is a legal entity that consists of people who share a common mission.

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

Businesses sometimes pursue a(n) __________ goal to balance the conflicting goals of stakeholders to promote their overall welfare, even at the expense of profits.

The strategies an organization develops to provide value to the customers it serves is called a(n)

People in the finance and the human resources departments traditionally operate at what organizational level?

-In Figure 2-1 above, E represents the __________ operating at the lowest strategic level.

-Consider the Lands' End ad above. Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed. Period."

Step 1 in the planning phase of the strategic marketing process involves __________.

-All of the following retailers are principal or direct competitors to Lands' End EXCEPT:

Medtronic is the world leader in producing heart pacemakers and other medical devices. Earl Bakken, Medtronic's founder, wrote its mission statement when he launched the firm over a half century ago. Summarize Medtronic's mission statement and comment as to why it is a good one.

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