Question 1

-In Figure 2-1 above, D represents the

Accepted Answer

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

Question 2

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Accepted Answer

A) reached the goal of generating enough revenue to be a completely nonprofit organization. 
B) a sustainable financial basis of profitable growth, increasing value for our stakeholders and expanding opportunities for development and career growth for our employees. 
C) the goal of making profits for selected charitable organizations such as Fair Trade. 
D) been recognized for its efforts to use the power of business to solve social and environmental problems. 
E) been instrumental in expanding into international markets by developing dairies for developing nations. 
A) reached the goal of generating enough revenue to be a completely nonprofit organization. 
B) a sustainable financial basis of profitable growth, increasing value for our stakeholders and expanding opportunities for development and career growth for our employees. 
C) the goal of making profits for selected charitable organizations such as Fair Trade. 
D) been recognized for its efforts to use the power of business to solve social and environmental problems. 
E) been instrumental in expanding into international markets by developing dairies for developing nations.

Question 3

Regarding goals and objectives, which of the following statements would be most accurate?

Accepted Answer

A) Objectives convert an organization's mission and business into long- and short-term performance targets. 
B) Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program. 
C) A company's goals and objectives are often worthy in intent, but unrealistic in practice because they are never accomplished during the specified time period. 
D) Goal-setting only applies to business firms; nonprofit organizations typically do not set goals because they don't earn a profit. 
E) The terms goal and objective should not be used interchangeably. Goals are philosophical while objectives are performance-based. 
A) Objectives convert an organization's mission and business into long- and short-term performance targets. 
B) Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program. 
C) A company's goals and objectives are often worthy in intent, but unrealistic in practice because they are never accomplished during the specified time period. 
D) Goal-setting only applies to business firms; nonprofit organizations typically do not set goals because they don't earn a profit. 
E) The terms goal and objective should not be used interchangeably. Goals are philosophical while objectives are performance-based.

Question 4

Business portfolio analysis refers to

Accepted Answer

A) a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products. 
B) a technique that managers use to graphically track their firm's strategic business units (SBUs) as though they were a single expense in order to identify cost-cutting measures. 
C) a technique that managers use to quantify performance measures and growth targets to analyze their firm's strategic business units (SBUs) as though they were a collection of separate investments. 
D) an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm. 
E) a tool that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
A) a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products. 
B) a technique that managers use to graphically track their firm's strategic business units (SBUs) as though they were a single expense in order to identify cost-cutting measures. 
C) a technique that managers use to quantify performance measures and growth targets to analyze their firm's strategic business units (SBUs) as though they were a collection of separate investments. 
D) an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm. 
E) a tool that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Question 5

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Accepted Answer

A) find points of difference 
B) execute the marketing program 
C) track sales and revenues and compare with competitors 
D) develop the budget by estimating revenues, expenses, and profits 
E) exploit positive deviations and correct negative ones 
A) find points of difference 
B) execute the marketing program 
C) track sales and revenues and compare with competitors 
D) develop the budget by estimating revenues, expenses, and profits 
E) exploit positive deviations and correct negative ones

Question 6

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Accepted Answer

A) deviations that result from major shifts in customer needs 
B) actual results exceed goals 
C) there are no deviations but there should be 
D) deviations that result from executive mandates 
E) deviations that are blamed on insufficient marketing support (personnel or funding) 
A) deviations that result from major shifts in customer needs 
B) actual results exceed goals 
C) there are no deviations but there should be 
D) deviations that result from executive mandates 
E) deviations that are blamed on insufficient marketing support (personnel or funding)

Question 7

Organizational culture refers to

Accepted Answer

A) the personal moral and ethical codes of ethics of its top management. 
B) a written statement expressing its goals and objectives to be achieved through enacting a comprehensive strategic plan. 
C) the fundamental, passionate, and enduring principles that guide its 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 ethics of its top management. 
B) a written statement expressing its goals and objectives to be achieved through enacting a comprehensive strategic plan. 
C) the fundamental, passionate, and enduring principles that guide its 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 8

The organizational foundation sets the __________ of organizations, the organization direction sets the __________, and organizational strategies are concerned with the __________.

Accepted Answer

A) when; why; what 
B) why; what; how 
C) what; how; why 
D) what; where; how 
E) how; where; what 
A) when; why; what 
B) why; what; how 
C) what; how; why 
D) what; where; how 
E) how; where; what

Question 9

-Although now a part of Sears, Lands' End was primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Accepted Answer

A) consideration set. 
B) industry. 
C) competitors. 
D) target market. 
E) stakeholders. 
A) consideration set. 
B) industry. 
C) competitors. 
D) target market. 
E) stakeholders.

Question 10

In the 20th century, managers of railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the __________ business.

Accepted Answer

A) transportation 
B) transcontinental shipping 
C) passenger travel 
D) product delivery 
E) bulk cargo 
A) transportation 
B) transcontinental shipping 
C) passenger travel 
D) product delivery 
E) bulk cargo

Question 11

Toyota had some difficulty recovering from a recall crisis several years ago when it was forced to recall about 6 million vehicles due to variety of problems, most notably one with the accelerator pedal. To "polish" its brand, it implemented stricter __________ goals to improve the safety and reliability of its vehicles.

Accepted Answer

A) profit 
B) sales revenue 
C) customer satisfaction 
D) quality 
E) employee welfare 
A) profit 
B) sales revenue 
C) customer satisfaction 
D) quality 
E) employee welfare

Question 12

__________ is(are) the reward to a business firm for the risk it undertakes in marketing its offerings.

Accepted Answer

A) Shareholders' equity 
B) Profit 
C) Assets 
D) Contribution margin 
E) Goodwill 
A) Shareholders' equity 
B) Profit 
C) Assets 
D) Contribution margin 
E) Goodwill

Question 13

Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals. Due to the resources it makes available to its scientists and researchers, the company has a number of Nobel Prize winners working in its laboratories. This ability to employ some of the finest minds in the world is an example of a

Accepted Answer

A) point of similarity. 
B) competency. 
C) sustainable advantage. 
D) product development strategy. 
E) human resource strategy. 
A) point of similarity. 
B) competency. 
C) sustainable advantage. 
D) product development strategy. 
E) human resource strategy.

Question 14

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Accepted Answer

A) handing out "Smarter Planet" t-shirts on selected college campuses through the world 
B) providing samples of new hard drives for NYC businesses 
C) sponsoring the U.S. swim team for the 2012 Summer Olympics 
D) including a strong message in an annual report from IBM's Chairman of the Board and CEO 
E) garnering a celebrity endorsement from Jon Steward, host of the Daily Show 
A) handing out "Smarter Planet" t-shirts on selected college campuses through the world 
B) providing samples of new hard drives for NYC businesses 
C) sponsoring the U.S. swim team for the 2012 Summer Olympics 
D) including a strong message in an annual report from IBM's Chairman of the Board and CEO 
E) garnering a celebrity endorsement from Jon Steward, host of the Daily Show

Question 15

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast food businesses into new markets, such as China, Russia, and India. This type of expansion would be a __________ strategy.

Accepted Answer

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

Question 16

A marketing metric refers to

Accepted Answer

A) a measure of the quantitative value or trend of a marketing activity or result. 
B) a form of linear trend analysis used to project future profits based on existing marketing plans. 
C) one of a series of mathematical formulas used to calculate potential profits based upon different scenarios of the forces in the marketing environment. 
D) information about an organization's core values and code of ethics so marketers can quickly spot deviations and take corrective actions. 
E) the value of a product in terms of its contribution to employee welfare 
A) a measure of the quantitative value or trend of a marketing activity or result. 
B) a form of linear trend analysis used to project future profits based on existing marketing plans. 
C) one of a series of mathematical formulas used to calculate potential profits based upon different scenarios of the forces in the marketing environment. 
D) information about an organization's core values and code of ethics so marketers can quickly spot deviations and take corrective actions. 
E) the value of a product in terms of its contribution to employee welfare

Question 17

A recent Congressional initiative mandated that the U.S. Department of Transportation (USDOT) establish a national traffic information collection system. The marketing manager of a company that provided traffic reports for local radio stations would most likely incorporate this knowledge into its SWOT analysis as

Accepted Answer

A) a weakness if the company has an existing working relationship with the USDOT. 
B) an opportunity if the USDOT will give this information directly to all radio stations. 
C) a weakness if the company that provides local traffic information has no employees who are technologically capable of using the USDOT system. 
D) a threat if the USDOT does not have resources to interpret data for regional traffic areas. 
E) part of a marketing plan; this information would not be part of a SWOT analysis. 
A) a weakness if the company has an existing working relationship with the USDOT. 
B) an opportunity if the USDOT will give this information directly to all radio stations. 
C) a weakness if the company that provides local traffic information has no employees who are technologically capable of using the USDOT system. 
D) a threat if the USDOT does not have resources to interpret data for regional traffic areas. 
E) part of a marketing plan; this information would not be part of a SWOT analysis.

Question 18

The __________ for Facebook is "To give people the power to share and make the world more open and connected."

Accepted Answer

A) sustainability doctrine 
B) core benefit proposition 
C) mission statement 
D) corporate philosophy 
E) code of ethics 
A) sustainability doctrine 
B) core benefit proposition 
C) mission statement 
D) corporate philosophy 
E) code of ethics

Question 19

Name and briefly describe the seven types of organizational goals or objectives.

Accepted Answer

The seven types of organizational goals

Question 20

What is the difference between a marketing strategy and a marketing tactic?

Accepted Answer

A marketing strategy is the means by whi

-In Figure 2-1 above, D represents the

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Regarding goals and objectives, which of the following statements would be most accurate?

Business portfolio analysis refers to

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Organizational culture refers to

The organizational foundation sets the of organizations, the organization direction sets the , and organizational strategies are concerned with the __.

-Although now a part of Sears, Lands' End was primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

In the 20^th century, managers of railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the __________ business.

__________ is(are) the reward to a business firm for the risk it undertakes in marketing its offerings.

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast food businesses into new markets, such as China, Russia, and India. This type of expansion would be a __________ strategy.

A marketing metric refers to

The __________ for Facebook is "To give people the power to share and make the world more open and connected."

Name and briefly describe the seven types of organizational goals or objectives.

What is the difference between a marketing strategy and a marketing tactic?

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

-In Figure 2-1 above, D represents the

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Regarding goals and objectives, which of the following statements would be most accurate?

Business portfolio analysis refers to

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Organizational culture refers to

The organizational foundation sets the __________ of organizations, the organization direction sets the __________, and organizational strategies are concerned with the __________.

-Although now a part of Sears, Lands' End was primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

In the 20th century, managers of railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the __________ business.

__________ is(are) the reward to a business firm for the risk it undertakes in marketing its offerings.

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast food businesses into new markets, such as China, Russia, and India. This type of expansion would be a __________ strategy.

A marketing metric refers to

The __________ for Facebook is "To give people the power to share and make the world more open and connected."

Name and briefly describe the seven types of organizational goals or objectives.

What is the difference between a marketing strategy and a marketing tactic?

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

The organizational foundation sets the of organizations, the organization direction sets the , and organizational strategies are concerned with the __.

In the 20^th century, managers of railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the __________ business.